The challenge of buying a condo in Vancouver is that no two condo buildings are alike. Even when architectural styles are similar, there are many components that set one condo building apart from another. From financial management to maintenance philosophy, the reputation and actions of a strata should be investigated ahead of time so you can avoid unpleasant surprises.
Here are a few questions that you should consider about your prospective condo purchase.
What does my maintenance fee cover?
Condo owners are responsible to pay monthly maintenance fees to their strata. The strata uses these funds to handle general operating expenses (routine maintenance, cleaning, etc.) and build up a contingency reserve fund (for emergencies…
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