10 Condos with the highest and lowest fees in the Toronto area
Published March 26, 2024 at 12:56 pm
A new report reveals Greater Toronto Area condo buildings with the highest and lowest fees and what those fees include.
The new analysis from digital real estate platform Wahi looked at 10 Greater Toronto Area condo buildings with the most and least expensive median monthly condo fees.
Monthly maintenance fees can vary greatly from unit to unit and building to building, according to a press release from Wahi.
The age of the building, the type of amenities such as a pool or sauna, and the size of your unit normally impact the monthly fee.
Condo fees cover items such as building insurance, maintenance of common elements, amenities, some utilities, and contributions to the building reserve fund, which is set aside for major repairs.
The report examined maintenance fees in previously sold one-bedroom condos, establishing a median monthly payment for thousands of multi-family buildings throughout the Greater Toronto Area.
Videos
Wahi then ranked the 10 condos with the highest and lowest median fees.
“For homebuyers who are considering buying a condo, maintenance fees are an important factor to consider when figuring out their budgets,” says Wahi CEO Benjy Katchen. “Wahi’s latest study provides a ballpark estimate of what condo owners can expect to pay at different price points in the GTA market.”
The most expensive fees, perhaps unsurprisingly, are nearly all in Toronto’s core aside from one Oakville building. They come with upscale amenities such an indoor pool, roof-top decks and squash courts.
The least expensive condo fees were found mainly outside of Toronto’s core.
Buildings located in areas such as Milton, Oakville, Scarborough and North York tended to have the lowest fees, according to Wahi.
They were also generally built within the last several years, with the majority completed between 2018 and 2022.
The full report from Wahi can be found here.
Lead photo: Karen Longwell
insauga's Editorial Standards and Policies advertising