When I’m working with buyers who are searching for a condo in Guelph, the subject of those pesky condo fees rears its ugly head. A lot! But for buyers, understanding the condo’s rules and regulations should be equally as important as ensuring the financial health of the condo corp.
Rules can be quite minor, such as the colour of paint allowed for a front door. But other rules could pertain to what some would consider significant lifestyle choices, such as a no-pets clause or even restrictions on certain types of vehicles.
If you’re a rebel at heart, condo living simply may not be for you. Don’t, for example, confuse condo restrictions on pets to those same restrictions for renters in Ontario. With a condo, these restrictions are enforceable, and a condo can take action if you’re in violation of their rules, for example suing you to evict a pet that is restricted.
When you make an offer to purchase a Guelph condo, presumably your offer will be contingent upon inspection of the condo corporation’s documents. (It certainly should be!) You and your lawyer will be seeking assurances regarding the health of the condo corporation; rules and regulations should also be closely evaluated during this period.
If you have specific concerns – i.e. rules regarding pets, etc. – both your Realtor and Real Estate Lawyer can be of assistance by making inquiries on those points. But ultimately, it’s up to you to read through the condo documents that you receive in order to determine if the condo’s rules match with your lifestyle choices.