Condo fees sometimes cost-prohibitive for Calgarians
While affordable mortgage rates in Calgary are enabling many people to buy a property inexpensively, individuals who are looking to purchase a condo sometimes run into financial trouble due to condominium fees.
According to a recent poll conducted by Environics Research Group, which surveyed Calgarians who have or are looking to purchase a condo, 41 percent of respondents said they would need to look for a new place if their fees were to increase.
To prepare for fees that may come unexpectedly, mortgage specialist Jessy Bilodeau offers some suggestions.
"You can prepare for a fee increase by building a buffer into your monthly housing budget," said Bilodeau. "That way if fees go up, it won't be a major shock to your cash flow. If they...