As a young adult Calgarian entering the housing market soon, thank you for the insight. Always wished there was more Canadian real estate content. Subbed 👍🏼

@Dusko-CalgaryHomes

7 ай бұрын

Appreciate the kind words! It’s better to be educated and prepared with potential liabilities than get caught off guard.

Very helpful.. thanks

I'm always amazed when people say "good" condo management includes a massive reserve fund. The only condos owners benefiting from this are the financially illiterate or those who can't manage their money. Condo corporations are extremely limited in how much of the reserve can be invested and in what investment vehicles. Think 5% of the fund in 3% GICs. The rest sits there and depreciates with inflation (or in the case of the 3% GIC, gets invested and still depreciates) So, where a condo corporation charges massive fees to grow a reserve fund, the owners lose. Instead of owners keeping that money and growing it themselves through their own investments, etc. that money is sent to a reserve fund to stagnate and depreciate. Ultimately the true "reserve fund" is the owners. It makes no sense as a financially responsible condo owner to put money into the reserve account instead of growing it yourself.

@Dusko-CalgaryHomes

Ай бұрын

Extremely well said! I think it’s critical to know what’s going on in your own complex and be proactive and involved. So many owners don’t know their boards/management companies are in trouble until they receive a special assessment.

Houses need to be affordable, i wish all houses lose value overtime and people would invest in the stock market and businesses as long term investments rather than residential real estate.

@Dusko-CalgaryHomes

Ай бұрын

I get that but if all money went into stocks then it wouldn’t be affordable for majority of people to invest. Asset inflation is a thing and it’s running hot right now unfortunately

Nice video !

The only investment property I lose sleep over at night is my condominium. I worry about the board making crazy changes, building disputes, everything you went through. However, it's also my easiest rental by a long shot, far less visits, assistance, or needs from the tenants. Great advice and information 💥

Wow! This is great info!

@Dusko-CalgaryHomes

7 ай бұрын

Thank you @mgswag. Let me know if you’d like me to shoot any other specific videos!

as a electrician in canada i build more then 10 000 condos and i can tell you my friend . condos are cheaper every year.

@Dusko-CalgaryHomes

7 ай бұрын

As a former electrician myself, I couldn’t agree more.

@mabialaemile8541

3 ай бұрын

@@Dusko-CalgaryHomes Please tell me, what do you mean by " are cheaper" are you talking about the build quality and cutting corners? couldn't get your comment properly

Great information on the Calgary condominium market!

@Dusko-CalgaryHomes

7 ай бұрын

Glad you liked it!

Well we're retired and are having a horrible time finding a condo in the area we want.

@Dusko-CalgaryHomes

Ай бұрын

It can be very difficult especially if you are searching for a larger condo. Many of our buyers are having to go 20-40 minutes out of Calgary.

@dovygoodguy1296

Ай бұрын

@@Dusko-CalgaryHomes It's incredible how developers think people in 2024 should be satisfied with living in sardine cans they call condos. At least we aren't looking at anything built after the 1990s.....

@Dusko-CalgaryHomes

Ай бұрын

@@dovygoodguy1296I’ve viewed two bedroom condos under 600 sq.ft. I get that it’s business but we aren’t as restricted for space as other large metros are. It doesn’t make sense to even build something that small.

@dovygoodguy1296

Ай бұрын

@@Dusko-CalgaryHomes Yes, absolutely ridiculous.

humm ... in condos you have Condo fees, and in townhome you also have condo fees? What is HOA? Are there townhomes that are not part of HOA or does nor require condo fees? I don't like unnecessary monthly fees ( I mean I prefer paying myself when something breaks later...) and the whole fees is kind of eating my head up

@Dusko-CalgaryHomes

3 ай бұрын

So all apartment style buildings have condo fees and majority of the townhomes also he condo fees. The condo fees take care of some of the utilities, common space maintenance, building insurance and future maintenance. HOA is typically a yearly community fee to help improve the area and update it. Newer townhomes typically have their own Furnace, HWT, ETC and you would fix it yourself but the exterior would still be under the condo board.

@mabialaemile8541

3 ай бұрын

@@Dusko-CalgaryHomes ow ok ok I see, thanks, so if I want to do anything custom and all, I shall buy a family home and make sure it is not part of an HOA??

living in the past..stay there and keep talking about it...that has nothing to do with Condos

@Dusko-CalgaryHomes

3 ай бұрын

Without knowing our history, we’re doomed to repeat it.