First-time buyers
You’re comparing rent with a mortgage plus a maintenance fee. We work out what the fee really covers, what closing costs to set aside, and which first-time programmes you can look into.
First-time buyer guideCondos only · Downtown Toronto
I’m Priya Anand. I work on condos and nothing else. Before you offer, we read the status certificate, the reserve fund and the rules together, so the monthly fee and the fine print hold no surprises.
Most people I work with fit one of these. The questions are different for each, so the first call is too.
You’re comparing rent with a mortgage plus a maintenance fee. We work out what the fee really covers, what closing costs to set aside, and which first-time programmes you can look into.
First-time buyer guideYou’re leaving a house with a garage and a basement full of things. We find a suite with real storage, check the rules on pets and renovations, and time it with the house sale.
Selling and moving overYou want one or two units that rent steadily. We look at leasing rules, short-term rental limits, the fee per square foot and the reserve fund before the rent numbers.
Sample building profilesA condo is a share in a corporation as much as a home. These are the papers I go through with every buyer, in plain words. Your lawyer reviews them too.
| Document | What it tells you | What we look for |
|---|---|---|
| Status certificate | The unit’s fee, whether the seller is behind, and any lawsuits or known increases. | Arrears, a planned fee jump, legal actions, and any special assessment already decided. |
| Reserve fund study | What the building expects to spend on big repairs over the coming decades. | Whether the fund keeps pace with roof, windows, garage and elevator work. |
| Budget | Where this year’s fees go: utilities, staff, insurance, cleaning, the reserve. | A deficit, or an insurance line that jumped and will push fees up. |
| Declaration and rules | What you may and may not do in your own suite and the common areas. | Pets, leasing, short stays, flooring, barbecues and move-in bookings. |
| Insurance certificate | What the building’s policy covers and the deductible owners can be charged. | A high deductible, so your own unit policy can cover it. |
I only do condos, so I say no to some work and send it to people who do it every week.
Five made-up downtown buildings, written the way I brief clients on real ones: sizes, amenities and the rules worth knowing.
Tell me what you’re buying, selling or holding, and I’ll tell you honestly whether I’m the right person for it.