Canada Condo Buyers: Evaluate the Building First

Canada’s softer condo market gave buyers more time, more inventory, and more negotiating leverage, making building-level due diligence just as important as unit price.
In Ontario, every condo offer should stay conditional on reviewing the Status Certificate, because reserve funds, litigation, fees, and rules can shape long-term value.
Buyers should compare reserve fund balances with the reserve fund study and watch for repeated fee jumps above 5%, which can signal deferred maintenance.
Investor-heavy buildings can affect financing, while transit access, walkability, retail, and comparable sales in the same building help test long-term fit for buyers.
With prices lower and choice higher, the main risk is not overpaying for a strong building but underpaying for a poorly run one.