Condos in Collingwood

 When someone mentions "Condo" we often visualize an apartment on the 23rd floor in Toronto. In Collngwood, we have quite a variety of "Condos".

Part of the problem is, the word "Condominium". It actually refers to how you hold title to the property, not the property itself. Under the Real Estate Brokers Act of 1998, an individual(s) or a corporation can hold title to a wide variety of properties including an apartment, a house, a townhouse, vacant land, a dock, a golf course, - almost anything may be owned as a condominium.

All the photographs on my website are condominiums. What are some of the Advantages and Disadvantages to owning a Condo in Collingwood?

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Advantages -

  • It can be a maintenance and worry free home away from home. It can be your accommodation after skiing or golfing.
  • "They" look after the outside maintenance including the grass and snow shoveling. We call it "Turn Key". You can lock the door, and it will look the same when you come back.
  • It can be a permanent home. (I own a condo so I don't have to own a lawn mower).  
  • It can be an investment. Some owners rent their condo durning the season they are not using it. This can help cover taxes and maintenance fees.
  • It can be a "shoulder season" home for those who winter in Florida and summer in Muskoka.
  • You can make any changes inside your unit that you wish, as long as it does not disturb the structure of the building.
  • There are Rules and Regulations that control what you can do and what you can't.
  • There may be ammenities including tennis, fitness facilities, swimming pools, and marinas, that you would not have in a house at the same price. These facilities are maintained by "others", you just get to enjoy them, if you wish.
  • Some condo corporations hire private nightime security patrols.

Disadvantages -

  • There is a monthly Maintenance Fee. This covers all the outsie maintenance from cleaning windows to new roof shingles, or outside painting even asphalt for the roads and driveways. Provincial Law requires condominium corporations to maintain a Reserve Fund to cover these expenses. The elected Board of Directors set the amount of the fee. I like this budgiting ahead idea. If I owned a house, I would not save up for a new roof that I will need 20 years form now. When I needed it, I would have to borrow the money from the bank.
  • You are living closer to your neighbours, so you should not disturb them.
  • There are Rules and Regulations that control what you can do and what you can't.
  • Sometimes the Board of Directors decide that something has to be done and an Assessment will be required to pay for it. If the majority of the Owners vote in favour of an Assessmant, then it goes ahead. With the Reserve Funds and regular Engineering Studies, Assessments are not happening very often.

Features of Various Collingwood Condo Developments -

  • Briarwoods
  • Collingate Mews
  • Cranberry Yacht Club
  • The Galleries
  • The Links
  • Mariner's Haven
  • Olde Town
  • Sunset Cove
  • Vista Blue
  • Whisperwoods