If you're looking for a concrete highrise condo in Edmonton's downtown, the options seem endless. One criterion that often gets overlooked, especially when budgeting what you can afford, is the condo fees.
Condo fees can have a dramatic effect on the affordability of any condo, and it's important to know what the fees include. Some condos may start out with low fees when they're first built, but once a condo board and reserve fund is established, those fees can increase significantly and very quickly. Some buildings, at first glance, may seem to have high condo fees, but they may be including amenities such as a gym, pool, car wash, social/games rooms and guest suite. When you factor in the cost of a gym membership or paying to get your car washed, you may actually find you can save money. Some buildings even include extra utilities or services, such as electricity, cable and wi-fi.
When buying any condo, the fees and what they include is an essential consideration.
With that said, I've...