Buyers urged to do their homework in Edmonton’s condo market

New stainless steel appliances, gas fireplaces and marble countertops may dazzle prospective condominium buyers.

But experts are urging them to first make sure the building has enough cash to cover emergencies like a leaky roof or new boiler for the building.

Many developers offer low condo fees to entice buyers. However, Sharon Bigelow, vice president and reserve fund consultant with the Canadian Condominium Institute, warns low fees may not build a proper reserve fund to cover repairs.

Read full story here.

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