Condo vs. house If you live in a condo, it’s your home, but it’snot a house. That’s an important distinction, particularly when it comes to maintenance. Consider a detached single-family house whose roof needs to be repaired. As a homeowner, that expense would fall entirely on your...
4 Insurance Types that Protect the Condo you Own Much is said about a house being the biggest investment you can make, but that isn’t fair to the many people that prefer the maintenance-free lifestyle of a condo. Some people want home ownership, just not a single-family home – and ...
Condo insurance is structured to include these coverage types: Quick definitions Dwelling coverage Covers damage to the part of the building that you own: the interior surfaces, such as the walls between rooms and flooring. Unlike home insurance, however, it probably won't cover shared structural...
4. Insurance If youmake RTO work for you, you can include insurance in your monthly payments, so that you’re fully covered by the end of your lease. Renters don’t pay for insurance because they don’t avail of the insurance that goes with owning the property. 5. Repairs and maintenan...
Budget, life stage and lifestyle are all factors that may sway your decision between a condominium and single-family home.
Insurance & Collective Responsibility 2023 February Handling Sensitive Complaints in Co-ops & Condos Sex, Smells, & Nuisances Maintenance All Exterior Building Exterior Repair & Maintenance in Historic Buildings Good Old Things The unique charm of historic properties—both inside and out—is a key dra...
Condominium Insurance Renting Your Condo Unit GST/HST New Housing Rebate What Are Interest Rates? Everything You Need to Know about Mortgages What Is the Ontario New Home Warranty Program? Deposit Structures for Pre-Construction Condos What Are Condo Maintenance Fees? Do I Need a Property Manager...
there is even more to remember and thoroughly understand about insurance, above and beyond what is necessary for that individual’s own home or unit. According to Mack, “These terms include total insured value, co-insurance requirements, admitted vs. non-admitted carriers, fiduciary liability, um...
You might have to pay more for mortgage insurance and a home appraisal than you would with a more run-of-the-mill home purchase. You might also have to cover the costs of documentation such as a condo questionnaire and other financial statements that the condo’s managing agent may require...
While downsizing can be an emotional decision, it also brings considerable financial benefits. Transitioning to a condo often results in reduced utility costs, lower insurance rates, and less spending on home maintenance. These savings can be redirected towards retirement savings, travel, or other per...