The concept of condominiums is quite simple once you understand the concept of common ownership. There are mainly two types of condominium buildings that we see in the Ottawa real estate market those of condominium high-rise buildings and those of townhouse developments. Ownership of a condominium owner includes everything from the walls inwards and everything between the ceiling and the floor. The walls which we’re done by the builder separate every unit within the condominium project and are owned by the Condominium Corporation or association. Flooring type such as hardwood, carpet or laminate is the responsibility of the owner of the unit and not the condominium corporation. If windows, doors or roofs require renovation they should be done by the condominium corporation.

Ownership also extends to common elements where all condominium unit owners share common areas such as a gym, pool, tennis courts, parking, party rooms, etc. Should renovations be requiring to these parts of the building they would also be the responsibility of the condominium corporation. Decisions by the condominium association are taken by the owners of the condominium units of the complex. In Ontario votes are divided equally, each condominium unit within a complex have one vote.

The level of privacy in a condominium high-rise is a frequent question that is asked by condominium buyers in Ottawa. Since units are grouped together, sometimes many on the same floor, it is not uncommon to share the common space at occasions such as the elevator, party rooms, tennis courts and other common grounds. Although most condominium association have a strict rule against noise and disturbances you may occasionally hear neighbourhoods from inside your condominium unit. Note that have neighbours in close proximity to you is not always a bad thing when it comes to security. It might be harder for a thief to enter your condominium unit while you are away then it would be if you had a single family home with neighbours further away.

Condominium owners normally pay monthly or yearly condominium fees which are paid to the condominium association. These go towards general repairs and maintenance to the common areas outlined above and such activities as snow removal and grass cutting. Additional cash is put in a reserve fund in case of emergency such as major repairs to the building. Sometimes special assessments are needed when major renovations are needed such as a new roof or repairs to a foundation. It is not uncommon in Ottawa and other cities in Ontario so see condominium owners pay more than the planned monthly condominium fee in order to cover special assessments.

Some condominium associations have strict rules for its condominium owners. One should verify these before purchasing a condominium in Ottawa. Some rules in condominiums associations can include the following: the color in which you are allow of your door to keep a certain continuity of uniformity over time, the installation of satellite dishes, types of animals allowed in the building.

This may seem like a lot to a new first time home buyer but these rules are in place to insure safety and for the enjoyment of the condominium grounds for all of its users. Another great reason first time home buyers are attracted to these types of construction is their cost compared to single family homes in Ottawa.

If you are interested in purchasing a condominium in Ottawa give me a call at 613-889-7732!