Considering Condos For Sale In Burnaby BC: The Basics

by | May 2, 2018 | Real Estate

If you plan to purchase a home in Burnaby BC, chances are you are looking at detached home and condos for sale. These two types of dwellings are popular among potential homebuyers. Each has its advantages and disadvantages. Each has its appeal. More importantly, condos and houses attract a different type of individual.

Condo for Sale: Pros and Cons

Condos are truly a unique type of residence. They are neither a detached house nor an apartment. They combine features from both to create a unique buying and living opportunity. Condos allow you to own a home without the stress of general maintenance and upkeep. The monthly fees you pay a condo management board goes toward providing maintenance and upkeep of the grounds and shared common areas.

However, the actual space you own and pay taxes and monthly fees on is restricted to a specific unit within a multi-unit structure. The complex generally resembles an apartment. You own everything that exists within the four walls (and maybe a balcony or patio) – and may be responsible for paying out of your own pocket certain repairs within that structure. However, your fees would cover the repairs, renovations, and maintenance of the common areas, e.g., lobby, hallways, elevators, parking, pool and similar facets.

Condos for Sale: Be Informed Before You Buy

Someone looking at condos for sale in Burnaby BC needs to factor in all these costs – and monthly fees are not fixed but can increase suddenly. Rules within the building can also alter. For example, pet-friendly condos may become pet-free. However, if you do not want to be bothered with upkeep, mowing lawns or shovelling snow, a condo may be ideal. It is also perfect for those who like to live near where they work or who are away a great deal. Of course, you must be content living in a large community where you own a space but not the land it sits on.

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