According to the 2016 Census, nearly 22% of all Calgarians live in a condo. This is quite higher than the overall Canadian statistic of 13.3%. Condos are becoming more and more popular as more people move into high density housing locations.
What is a condo, anyway?
A condominium, referred to as a “condo”, is a housing complex where each unit is owned not rented by an individual. The complex can be managed by either a management company and/or the community itself.
Types of Condos:
In Alberta there are two types of condominiums, conventional and bare land. We have compiled the key differences between the two of them here for you, as well as information about what condo fees can look like. This will allow you to make an informed choice for your next home purchase.
Conventional condos are the most well known type of condo. These are many individual units located within a building, such as apartments. In this case, residents purchase the...