Quote:
Originally Posted by Mr.HappySilp
I heard Toronto strata is really expensive just wondering why? What's the difference?
|
The really simple explanation is that they pre-load all future maintenance... there are no special assessments... so from day 1 they are building a giant contingency for anything in the future.
Positive side? You likely never get a special assessment and there's always money for repairs. You could potentially, with good timing, move into a building that gets a giant repair and you didn't pay for it (everyone else did).
Negative side? If you live there temporarily (like... even 5 years is temporary) you pay a shit-tonne into something you'll never realize any value from and are basically paying for everyone else's repairs.
Personally I prefer our method. I'd rather pay a special assessment at some point than to be constantly tipping buckets full of money into a never-ending abyss named "maybe"