Hello CD members,

I am planning to buy a condominium and the fact I came to know between newer condo V/S older Condo is as follows:

1) For newer condo less sq. ft more price (appx 600 sq.ft) V/S older condo more sq. ft less price (appx 1200 sq.ft) for appx of $250,000 purchase price condo.

2) Less maintenance fees (around $350) fees for newer condo V/S more maintenance fees (around $700) for older condo

3) All utilities included in both except Hydro

4) More facilities in newer condo but less in older condo.

Now my Q is if I buy older condo for $250,000 with high maintenance fees would the property value will decrease every year as condo maintenance fees will increase every year?

And if the above answer is yes then appx what is the % the property value will come down on annual basis?

Any other inputs will be highly appreciated as well if I have missed out.

Well area is downtown mississauga that I am looking for
my research says some are renters and most of them are owners for this condo property that I am interested in as I have seen few rental advt.
my agent and me contacted the management office and they said that maintenance fees are increased every year.

So far the sales data states that price is increasing when you sell the condo from this and surrounding building but we also need to consider the fact that market was up and mortgage rules was not stricter compared with now. Market kind of has slowed down right now.

I learned from security person that current owners are upset of increase in maintenance fees and sales is kind a slow now. Good thing is I am getting more sq.ft so I am interested.

I agree with you, ashedfc. Thanks for your input.

High Vision, please check your PM.

Hiren