The average price of condos has declined in several major Canadian cities over the past year, rekindling interest among prospective homebuyers and investors.
However, leading experts interviewed by The Epoch Times caution that price is only one piece of the puzzle when considering a condo purchase.
While reviewing condo fees is a standard step for most buyers, experts say other critical details—often buried in the fine print—can be easily overlooked, even by seasoned real estate professionals.Price Tag Isn’t Everything
The average selling price of a condo in Canada was $469,300 last December, marking a 5.5 percent dip from the previous year.Mortgage broker Ron Butler said buyers need to be especially cautious when purchasing new condos because maintenance fees can rise significantly over a short period of time.
