Condo Owners Need to Understand What They Are Buying
December 29th, 2008Just like anything, I think it is very important to understand what you are investing in, big or small.
As such, if you are going to buy a condo it is best to make sure you fully understand how stratas work, read the strata property act (in BC), read all the minutes etc. of course. Of course you should be able to rely on your Realtor to help with this process and understanding, but it is always best to rely on the most accountable party, yourself.
There may be some changes in legislating that could help this process out and make condo living easier for many, you can read more about this in the Nanaimo Daily News.
It is true that there have been issues around leaky condos, and other issues with strata living that may not be ideal, but there are also many benefits to strata living and many people that are very happy with this type of ownership. Obviously when you try to have a number of people (sometimes hundreds) living together trying to follow common rules and maintain and run a complex for the common good there are going to be issues, but there is also strength in numbers.
No Responses to “Condo Owners Need to Understand What They Are Buying”