St. John’s Condos

January 20, 2008 · Filed Under St. John's Condos and St. John's Real Estate 

Condos in St. John’s have become an increasingly attractive home ownership option. I’ve noticed a number of new high end condo developments in St. John’s East end, St. John’s downtown and Mount Pearl in the past year. Owning a condo is a viable option for anyone who wants to own a property without the worry of repairs, maintenance and in our Newfoundland climate, shoveling snow. Great investment for you baby boomers and Snow Birds.

Do not forget that when you buy a condo, you are also buying into the entire building in which your condo is located. Your condo fees (range from $150 – $400 depending on the condo) cover the costs for corrective work required in common areas, such as the roof, heating system, or foundation. They also help pay for the garbage removal, snow removal, possible landscaping as well as security. Each condo is unique and has different by-laws found in the Condominium Act.

There are two types of condominiums: Condominium Apartments and Condominium Townhouses.

The condominium apartment is a “unit” inside a building, similar to an apartment building. A townhouse, is usually an attached (sometimes detached or semi-detached) unit with separate entrance and usually has the luxury of a front and back garden.

Be sure to include a satisfactory viewing of all condo corporation documents when making an offer to purchase. As well, making the sale conditional to a satisfactory review of the corporation’s financial condition.

Advantages to purchasing a St. John’s condo:
- less maintenance then a single family home
- increased security
- lower monthly heating and light bills
- community living
- no need for activities like mowing the lawn shoveling snow

Some disadvantages to St. John’s Condos:
- regulations on renovation and upgrades
- older units may require more maintenance
- community living (yes both a pro and a con)
- lack of parking spaces (some condos)
- condo fees (can be costly for first time buyers on a budget)

For more information on condos contact Fraser and Stephen Winters

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