Moving to Calgary may be one of the best decisions you'll ever make in your life, with the city being given an impressive liveability rating by the Economic Intelligence Unit. Calgary also has a total of 222 neighbourhoods, and you will likely find an area wherein you can completely feel at home. The real estate properties available in the city also abound, and looking through the information in online resources can give you a clear idea of your options— whether you intend to buy a single-family home, condominium, or a town home.

While each real estate option has its own advantages, one thing you do have to prepare for if you choose either town home or condominium living is the Homeowners Association Fee. HOA fees are used to cover the costs of the cleaning and maintenance of common areas like lobbies, main entryways, and parking spaces. HOA fees are also used to ensure amenities like tennis courts, gyms, entertainment areas, pools, and others are kept in good condition and repair work is done as needed.

Property owners mandate its occupants or residents to pay HOA fees, and ideally, the amount and required date of payment is specified on the Land Title Certificate, which your realtor will inform you of before you sign on any paperwork detailing your purchase of the property. Do carefully read the terms involved in HOA fees since in Canada, failure to pay the due HOA fees may lead to costly lawsuits.

 


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