Let’s start with some select reasons you’d want to live in a home with condo fees.
Condo fees cover a wide variety of items that save you in the long run. From external building insurance, to the daily maintenance of the property your condo fees will cover all of it. Later on, we’ll break down the average monthly costs.
Maintenance Free Lifestyle:
Not only will you save money on a monthly basis, you’ll also have a lot more freedom. Living in a community with Condo Fees means you won’t ever have to shovel snow, or cut the grass. You can leave all this back-breaking work to the professionals while you enjoy a lock-and-leave lifestyle.
Long Term Investment:
Because your home, and your neighbours homes are all maintained by the same team you can be assured that your investment is protected. You won’t ever have to worry about a neighbor whose property is degrading your property value. You can be proud of your home and community for years to come.
Now that we’ve covered off a few of our favourite reasons to live in maintenance free community, let’s break down the numbers.
The average condo fee in a StreetSide home is $225 a month and your insurance will be around $30 a month, this means you’ll only be spending an average of around $255 a month to keep your home maintained, insured, and protected.
If we compare that to a home without condo fees we see a huge difference. Full insurance would be around $120 a month, maintaining the home, including garbage and snow removal would cost you around $180 a month, not to mention all your time. And then on top of that you’ll need to budget around $100 a month for exterior repairs. This means you could be spending $400 a month to keep your home in the same condition as a StreetSide maintenance free home.
As you can see, not only is a maintenance free home a good investment, it also offers you more flexibility in your life.