11-30-2021, 04:33 PM
(11-30-2021, 12:02 PM)CP42 Wrote:(11-30-2021, 11:55 AM)tomh009 Wrote: $1300/month in condo fees alone? Surely not? Is that including something else?
I would think the condo fees should be under $0.50/sqft in a new building, or maybe slightly over if you have on-site concierge/security.
I believe he was referring to occupancy fees which are incurred until the building is registered and he takes legal ownership of the unit.
https://gtawestliving.com/pre-constructi...explained/
Ah, right, that makes more sense. So, if they were charge 2% interest on $500K (I'm just guessing at numbers here), $300 in operating expenses (effectively the same as condo fees) on 700 sqft and $250 for pro-rated property taxes, that would get you to around the $1300-1400 range.