50 h. ago
Condo fees are spiking in Toronto and here's where they are the worst
For those who have enough capital to drop the ridiculous chunk of change necessary to get into Toronto's real estate market, even the least expensive properties don't come cheap, and the costs continue to add up far after purchase.On top of mortgage payments — which amount to more than $3,000 a month for the typically-priced unit in the GTA after a 20 per cent down payment — along with newly-increased property taxes and certain utilities, there are also condo maintenance fees, which have been rising sharply in the city.Depending on the size of your unit and what building you're in, this one monthly bill on its own can nearly rival rent prices, and for small landlords, can thus make it impossible to break even (let alone make a profit) when mortgage rates are high and average rents are down.A study by local real estate agency Wahi revealed which complexes in the city are currently the worst culprit...
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