Understanding Strata Fees
Posted by Steve Harmer on
Condo living definitely has its perks. You can take advantage of amazing locations in the heart of urban centres close to public transportation. You can be a part of a community and you don’t have to spend your days doing yard work or home maintenance. But, best of all, you can enjoy convenient amenities like fitness centres, party lounges and pools, all at your doorstep. Sounds great, but how does this affect your bottom line? When purchasing a condo you want to consider your monthly strata fee.
What are strata fees and how are they determined?
Your monthly strata fee is money that’s used by the strata corporation to pay the common expenses of the development. Your individual fee is assessed by taking the total cost of the strata’s expenses and…
4781 Views, 0 Comments
This week, the provincial government released its 2015/16 Second Quarterly Report: an update on where provincial finances are at six months into the fiscal year and where the economy is heading.
Just a few years ago, at the height of the real estate crisis, if homeowners were transferred for work or moved for personal reasons and couldn’t afford to sell their homes, they often opted to become “accidental” landlords.
Giving your home a fresh coat of paint in modern, universally appealing colours is one of the most effective, easiest and cheapest ways to help sell your home, but it’s important to do it properly, otherwise it could end up being a mess and putting buyers off. Here are the key tips.
eing around public transportation wasn’t always a good choice when it came to real estate. After World War II, downtown living was frowned upon and people flocked towards the suburbs in order to find larger and greener land. As a result, real estate prices rose outside the city.
The number of homes trading…
Owning your home means more financial responsibility than merely being an occupying tenant in a rental property. There are a considerable amount of additional costs that go in to purchasing a house such as Home Owners Association fees, insurance, maintenance, and repairs. In spite of the extra expenses having a place to call your own gives you a sense of pride and accomplishment as well as provides a fantastic investment opportunity as equity is built over time.
There is no controlling the time of year that a seller might be required to sell their real estate, but what about the busy period leading up to the holiday season?
According to the Canadian Rental Housing Index, in the region there are 53,375 renter households and of those 10,995 people are renting accommodations. That represents 21 per cent of the population as renters, with a median household income of $37,384. The average rent in the area is $835 including utilities. Of those renting, more than 48 per cent of people spend 30 per cent or more of their income for housing. Another 2,425 people spend more than 50 per cent of their income on housing needs, representing 22 per cent of all renters.