Pros of Condominium Ownership
Fewer maintenance and repair responsibilities.
Access to on-site amenities, such as a sauna or swimming pool, which you otherwise might not be able to afford.
Enhanced security features in some condominium units. You’ll also have peace of mind while you’re on vacation knowing that your neighbours are close by.
Monthly maintenance or condo fees are usually predictable.
You have a say in the running of the condominium corporation. As an owner, you have voting rights and can be elected to the board of directors.
A community that may have a wide range of social, entertainment and recreational activities sometimes geared to a specific lifestyle (seniors, for example).
Cons of Condominium Ownership
You may not be able to decide when maintenance and repairs get done
You may have to pay for amenities that you might never or rarely use
Less privacy in some condominium units and possibly more noise
Possibility of special assessment charges for unexpected repairs
Like most communities, a condominium attracts individuals with a variety of personalities. It can sometimes be a challenge to reach a consensus
Less space in some condominium units
Possible restrictions on things like noise levels, parking, pets, smoking and even the style and colour of things like doors and window coverings.