Willowells | 15fl | ?m | Proposed

[tomh009]

The condo fees are relatively high at $0.50/sq ft, and if I recall correctly they are on the way up (friends owned a unit there but sold last year). High fees definitely depress condo values.

I understand this, but it's worth doing the math, even a 100k extra debt will make a huge difference in monthly interest costs, even at the low interest rates we have now.  And yes, eventually you will pay this off, but having a huge amount of cash sunk into a condo has an opportunity cost as well.

The fact is, condos with higher fees and lower costs, I suspect are a better buy.

Also, I had heard rates were going down, notably, because they used to pay fees to the private health club which is closing for this development.

Eaton Lofts and 64 Benton are two other examples of inexpensive condos with high fees. As you say, they may be a good buy, but I would recommend doing some due diligence especially regarding the state of the reserve fund prior to jumping in.

The health club closing may indeed help this particular property.