r/TorontoCondominiums

UPDATE: Thanks everyone for all the comments, really appreciated reading the different perspectives.

We saw the unit on day 2 and were ready to make an offer, but just heard it sold on day 1. Honestly feeling pretty sad about it.

That said, this gave us time to think. I definitely get the investment side and why a house can make more sense financially, but for our lifestyle, quality of life, location, and convenience, especially during long winters (like the one we just had), matter a lot. We also don’t have a car, so condo living fits our day-to-day better. At the same price point, a house would mean going further out, paying for a car, and compromising quite a bit on overall standard. In this context honestly condo costs don’t feel like a waste, they go toward "how" you live.

We’ll keep looking at condos (we’d consider a house if our budget allowed), ideally for something similar with lower maintenance. Thanks for all the input!
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ORIGINAL POST: We’ve been looking for a 2 bed / 2 bath in Toronto for months now and honestly we’re getting tired of paying rent.

A condo fits our lifestyle way better than a house right now (we’re both working full time), but the reality we keep running into is that any unit we actually like tends to be either older or comes with higher maintenance fees. For context, we’re in our 30s and planning to stay for about 7–10 years.

We just found a place we really love. It’s about 970 sq ft, in our favourite midtown neighbourhood, around 15 years old. It’s a boutique building (under 200 units), and the maintenance fee is $1130 but includes pretty much everything (gym, pool, rooftop, party room, 24hr concierge, etc.). Price is around $780k.

Emotionally, we want to go for it. But we’ve worked hard for our money and the maintenance fee is making us hesitate, especially thinking about long-term value and resale.

Would you go for it in this situation? What conditions would make it worth it for you?

I’ve lived at my current condo building since the end of 2021, when I purchased it. Since then, it seems like I’ve had a major issue with my unit every year - like window breaking and then not getting replaced for 6 months, taps in the unit spewing scalding hot water (on and off for months). These issues have been since rectified, but I have lost complete trust in management. Throughout the years, I’ve contacted the board about these issues and they have never provided me with a response. Now they’re sending me a legal letter saying I need to be more respectful in how I communicate with them.

Any advice on how I can deal with this issue? Thanks in advance!

Gave emergency key as demanded by property management, few years after property management changed, their new system shows they have no key for my unit (old didn’t have such system at all). When asked to verify whether it is data issue or key was lost - they refuse saying this is not their responsibility to verify anything and they have more urgent issues. And refusing to provide any trace record of key access or confirm it was lost.

Are they responsible for replacing the key as this creates immediate security concern?

Also are they liable for negligence?

Buying a Condo Is Not Just Buying a Unit - It Is Buying into a Financial and Operational System

Many buyers approach a condominium purchase as if they were buying a conventional property. They review the unit, compare prices, and rely heavily on the status certificate. That process is useful, but it is not enough.

A condominium is not simply real estate. It is a governed system with a budget, reserve planning, maintenance obligations, board decisions, and long-term liabilities. When you buy a condo, you are entering that system whether you fully understand it or not.

The most important risks are rarely visible from inside the unit.

A well-finished suite can still sit inside a building with underfunded reserves, deferred maintenance, weak governance, or aging infrastructure. In other words, the condition of the unit is not the same thing as the condition of the asset.

What buyers should examine more carefully:

reserve fund adequacy relative to upcoming repairs;

multi-year budget trends, not just one year of numbers;

signs of deferred maintenance;

engineering reports and technical lifecycle issues;

whether fee levels reflect reality or have been artificially suppressed.

The status certificate remains important, but it is only one piece of the picture. It tells you what is documented today. It does not always tell you whether the building is financially resilient, operationally stable, or likely to face significant future costs.

This is why condo due diligence must go beyond legal review. Buyers need to understand whether the building’s current numbers are sustainable, whether decisions have been deferred, and whether the building is prepared for the obligations already on its horizon.

The real question is not whether the condo looks acceptable today. The real question is whether it is structurally prepared for tomorrow.

I wanted to share this so that other condo tenants and owners know what to expect if something like this ever happens.

There was a major water flood in our condo building at 60 Annie Craig Drive. From what we were told/observed, a sprinkler elbow broke on the 10th floor while maintenance-related work/testing was happening around the fire sprinkler system. There was supposed to be a fire sprinkler test the next day.

The 10th floor was heavily flooded, with water reportedly reaching several inches in some areas. Water then spread down through the building and affected the 9th, 8th, 7th, 6th, 5th, 4th, 3rd, 2nd, and 1st floors. A large portion of the building was damaged.

The flooding happened on a Thursday. The fire department was on site for several hours helping push water out from the units and common areas. Water had entered many units and affected floors, walls, ceilings, hallways, carpets, and common areas.

The next day, restoration crews were on site. They started cutting drywall approximately 2 feet from the base, removing baseboards, setting up dehumidifiers and fans, and drying the affected areas. Over the next week, the building was full of restoration workers, dust, noise, equipment, and limited elevator access. It was very disruptive for residents.

A few things I learned:

Contact your insurance immediately

If you are a tenant or owner, call your insurance company right away. They will usually send an adjuster or surveyor to inspect your unit and document the damage.

Understand what the condo/building insurance covers

In many condos, the building insurance may cover standard common elements and standard unit items such as certain walls, ceilings, baseboards, etc. However, flooring, appliances, heat pumps, kitchen upgrades, custom work, personal contents, and anything beyond the standard unit definition may be the owner/tenant insurance responsibility.

Ask for the key documents

For your insurance claim, you may need documents from condo management, such as:

Standard Unit Definition

Condo bylaws/declaration

Certificate of Insurance

Incident report

Fire department report, if available

Any official communication from property management about the cause of loss

Mold risk is real

When water enters walls, flooring, and ceilings, fast response is important. In this case, restoration crews started quickly, which matters because mold can become a major issue if drying is delayed.

Owners may have additional living expense coverage

If you are an owner and your unit is not livable, your insurance may cover temporary accommodation such as a hotel or Airbnb, depending on your policy. Tenants should also check their tenant insurance for additional living expense coverage.

Restoration inside your unit may be separate

Even if the building restoration team is working on walls and common areas, your own insurance may need to send a separate restoration company to handle your unit, contents, flooring, packing, protection, removal, and repairs.

Document everything

Take photos and videos immediately. Keep copies of emails from management, insurance, adjusters, and restoration companies. Record dates, times, names, and what was said.

My biggest advice: do not wait for the building or property management to handle everything for you. Contact your insurance right away, request the necessary condo documents, and document the damage as much as possible.

This kind of incident is stressful and confusing, especially when multiple floors are affected, elevators are down, restoration crews are everywhere, and residents are trying to figure out who is responsible for what. Hopefully this helps someone know what steps to take if they ever face a similar condo flood.