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That's bang-on! Primary residences are kinda like kids in that regard! lol

Sorry, not sure I understand the question

Thanks man! Luckily it comes easy to me, as I have 2 boys fully entrenched in the basketball world. Man, Flemingdon was a hotspot for ball in the 90’s! Do you still play?

Great question! The key to identifying whether a condo is mismanaged or has a sketchy budget lies in the status certificate-it’s like the condo corporation’s report card. But here’s where working with the right agent can make a big difference: 1️⃣ Agents who regularly view and sell condos in a specific area often have firsthand knowledge of the buildings. As buyers offer on different units, we get to review multiple status certificates, giving us insight into how well a condo corporation is managed. 2️⃣ Beyond the documents, we also observe building maintenance during showings. Poorly maintained hallways, elevators, or shared spaces can be red flags. 3️⃣ And yes, we even talk with concierges! They’re often a goldmine of information about how a building operates and what’s going on behind the scenes. When you’re interviewing an agent to help you purchase a condo, ask about their history. Have them share their recent 2-3 years of condo transactions and show you their experience in the neighborhoods you’re considering. The right agent with deep local knowledge can make all the difference!

As AI keeps making leaps, we’re certainly going to see some pressure on remuneration. What do you think realtors (or AI agents) should charge?

Interesting, which part?

Wow, thanks for the thorough breakdown! I agree, it ultimately all boils down to preference and/or budget when deciding between a condo or house. And yeah, the key to not getting scammed is to always have a (condo) lawyer review the strata/condo docs before proceeding with a purchase!

Interesting take! What factors do you think will cause these losses?

As I said in the video, I have no clue what’s coming - but you could be right! Thanks for the engagement!

Thanks for sharing your thoughts! I completely understand how affordability in Toronto can feel out of reach, especially for the middle class. This video is Toronto-focused, so the comparisons are based on the average Toronto home prices, which are undeniably high. That said, neighbourhoods like Keelesdale and Weston are great examples of more accessible options. Even when compared to some nearby suburbs, their pricing holds up as relatively affordable while still offering great community vibes and solid transit access. For a deeper dive into the affordability crisis and how government policies are failing us, check out my video, Enemy of Affordability. I think you’ll find it interesting!

💰📈💰💎

The great thing about life - you’re absolutely free to do whatever you want with your money! Some prefer investments, some prefer shoeboxes, and some just like hearing themselves speak. Either way, thanks for the engagement 🤭

@@undertheradarrealestateare you talking about yourself again? Because you are the one who made the video 😅

Clearly, I must’ve hit a nerve! But hey, comment sections are all in good fun, right? Besides, isn’t the whole point of commenting to start a conversation? I’m just here doing my part-you know, replying to the audience and keeping it lively! 😉

@@undertheradarrealestate By hitting a nerve you mean insulting your viewers? I think that I must have clearly "hit a nerve" so you can reply like this at first place. Anyway, relax, I understand, my comment felt threatening since if other people thought like this instead of being fooled into being debt slaves, then you wouldn't have job. Anw, as I said in your other video. Good luck!

Interesting take! So, 1200 sq ft is fine, but only if it’s priced perfectly, made of marble, and doesn’t require a mortgage? Totally get the frustration, though-it’s a lot to juggle in Toronto’s market. What do you think the solution is? Lower prices, better quality, or a magic wand?

@@undertheradarrealestateI don’t need a magic wand, but I can definitely predict that you won’t last long with this attitude . Good luck!

Not sure what the main point of your comment is-are you saying 1200 sq ft is livable but all smaller homes are poor quality? Or is the issue just price? It seems like there are a few different arguments here, but I’d love to know what you actually think about smaller, efficient homes. Do you agree they can work if done right?

Appreciate the insight! Just to clarify, I’m talking about averages here-maintenance costs are like taxes, unavoidable in the long run. Sure, you can delay things like a roof or furnace replacement in a house, but finding a Toronto home that dodges those big-ticket items for 5-10 years might be as easy as spotting a unicorn prancing around High Park. 🦄 Side note: Yes, you can avoid paying for those things when they break down, but RIP your heating, cooling, or water remediation bills when they do. Also, random general interior and exterior maintenance has a cost too-unless, of course, you work for free and don’t value your time. 😏

Appreciate the love! Fixing Toronto’s real estate market isn’t easy, but comments like this keep me motivated. Glad the ideas resonate, and hopefully we can generate more fresh ideas!

Thanks for the stats lesson! Super relevant to a video about maintenance fees. But hey, if you want to chat inventory issues, I’ve got another video on the channel that actually covers that topic. Maybe check that one out? (Yes, the audio on that particular video was messed up, but the content was good.)

My content is focused on helping Toronto homebuyers navigate the market-those who have the means to purchase homes in the city. Housing the poor is a critical issue, though, and one that private developers alone cannot solve. The federal and provincial governments need to step back into the business of building subsidized housing. Relying on private development to address affordability is, frankly, a fool’s errand.

Hey, nothing wrong with a trusty Camry or Corolla! Reliable, efficient, and gets the job done-kind of like the housing equivalent of a well-designed 1,200 sq ft home. Sometimes simplicity just makes sense, right?

60% straight-up profit for management costs? That’s definitely a spicy take! While management fees do cover a lot of necessary services, I’d love to know where you’re pulling that breakdown from. Always open to digging into the numbers together 😉

@@undertheradarrealestate he is right, it's 40 to 60% of those fees are going to the management companies and it's employees. Those management companies don't existing to lose money. If they need to fix anything expensive, they will have massive special assessment.

In my experience, property management fees typically account for about 5 to 10% of total condo maintenance fees, not the 40-60% that's being suggested. The rest of the fees go toward utilities, repairs, reserve fund contributions, and other essential services to keep the building running smoothly. Having owned multiple condos in Toronto, I've yet to see management fees exceed 10%. To back this up, I'll shoot a video breaking down real condo budgets and showing how these fees are allocated. That said, if you have specific examples of buildings with management fees in excess of 30-40%, I'd love to see them!

@undertheradarrealestate a property management company normally charge 8% to 10% of the rent amount. However for HOA condo fee is different. Alot of those money go "building overhead" is actually the money you pay for the property manager, receptionist, doorman( if they have them"). The money that goes to maintaining the building and insurance is very small. If they said only 5% goes to management and it's employees, then i want to see their details accounting book.

Some of these points seem rooted in hearsay rather than firsthand knowledge. To clear things up, I’ll be dropping a video next week breaking down exactly what condo management companies charge and providing a detailed breakdown of condo fees using specific examples from audited condo budgets. After 13 years in real estate and reviewing hundreds of status certificates, I’ve got plenty of material to back it up. Spoiler alert: the largest costs in most condos are reserve fund contributions and repairs/maintenance-not management fees. Stay tuned for the full breakdown! Appreciate the convo!

Wow, groundbreaking advice-‘Never buy a condo.’ That’s the first time I’ve heard that one 😏. Thanks for the fresh perspective!

Appreciate the comment-clearly, the thumbnail caught your attention! If you actually watch the video, you’ll see I’m not here to rant about fees. In fact, I might even convince you that maintenance fees are the unsung heroes-kind of like termite treatments, only less creepy and crawly 😉.

Love this! A $66.51 Hydro bill? That’s living the dream. Honestly, I’m with you-why bother with a McMansion monstrosity when a well-designed 1,000 sq ft home does it all? McMansions feel like the McPizza of housing-overhyped, oversized, and maybe it’s time they go the way of the McPizza too. Smaller, smarter spaces just make way more sense. Thanks for sharing-this comment made my day!

@@undertheradarrealestate Yes, a $66.51 hydro bill - for real.

@@undertheradarrealestate I should clarify how it is that my hydro bills are so low. I don't have a hot water tank. This house has a hot water heater that only heats water when I use it. Also, I live alone so maybe that's why? Anyway, I do love and appreciate my home, it's in Toronto and it looks like a sweet cottage.

Totally believe you! It’s crazy how much those monthly savings add up, and so many people forget to think about that when buying a home. Living efficiently like you do is such a smart move-and honestly, it’s the kind of mindset we need to tackle the housing crisis. A sweet cottage vibe in Toronto sounds amazing too! Thanks for sharing more about your home-it’s such a great example.

Fair points about the 1% rule-it’s more of a guideline than a hard rule, but worth noting that house costs and maintenance have both inflated over time. However, I’m curious about the ‘double the cost for half the size’ claim. In my experience, condo fees are only marginally higher than house maintenance costs, especially when you factor in all-inclusive amenities. The main difference is that condo maintenance is on a mandatory schedule, while houses give you the flexibility to delay repairs (though this can cost more long term). So, while some years might be cheaper with a house, over time, the costs tend to even out.

@@undertheradarrealestate That's correct, historically condo fees haven't always been as punishing as they are now. But keep in mind with a house you are talking double or triple the square footage, a basement, back yard, garage, not comparable in terms of a physical asset you carry forward, and can improve/upgrade you don't have that option with a condo. Your experience gives you a subjective impression, nothing wrong with that, but as mentioned, as they say, the numbers tell a different story. Not to mention, to avoid eviction, in old age you can survive on a slowly sinking ship, many do anyway, and patch up a leaky roof that should be replaced. You don't have that option with a condo.

Thanks for the engagement! You’re right, freeholds have that potential to add value… if you’ve got the cash, time, and DIY spirit of a reality TV home reno star. But let’s be honest-not everyone is itching to spend weekends fixing leaky roofs or saving up for a new foundation. That’s where condos shine: fewer headaches, more convenience. And while you can’t build a backyard, a killer kitchen or updated flooring in a condo can still give you a great ROI. Different strokes for different folks, right?

@@undertheradarrealestate Lol, All valid points, and absolutely, vive la difference. If a condo suits your lifestyle, go for it. But it's an investment, and ROI is the goal, it's hard to imagine a worse time to buy. There is already a glut of unsold empty condos , and 50,000+ new units hitting the Toronto market in the next 2 years. 80% of recent condo investors are underwater. Not much shine and a heck of a bigger headache than a leaky roof.

Thank you for sharing your story-love it! Living efficiently in a 1,400 sq ft semi with your family of four proves that smart design and intentional choices make all the difference. You’re absolutely right-media and development pressures often push us toward “bigger is better,” but stories like yours show that quality of life isn’t about square footage; it’s about what truly works for our needs. We definitely need more compact, well-designed towns, condos, and semis. If more people embraced this mindset, we’d be one step closer to solving the housing crisis. Thanks again for such a thoughtful comment!

Wow, this is such a detailed and thoughtful take-I appreciate you taking the time to write this! I don’t disagree with a lot of what you’re saying here. Condo living really does come down to a lifestyle choice, and while there’s a premium over freehold home ownership, the point of the video was to show that the spread isn’t always as large as people might think. You’re absolutely bang-on about investor-heavy buildings though-when most units are rented out, the pride of ownership just isn’t the same. That often shows up in the maintenance fees over time compared to buildings with mostly end-user occupants. It’s a huge factor that buyers should definitely keep in mind!

@@undertheradarrealestate Thank you. ours didn't have mostly investors, we had a good number and it's now a big red flag to me, but even people living in their units were a lot of owners who wanted to spend as little as possible each month in strata maintenance even though things were starting to fall apart because these weren't homes, they were living in their future house down payment for a few yrs and wanted to keep low fees to attract buyers. also mean to say, we also had people living there it was home, but who actually couldn't afford the maintenance costs of home ownership that complained when fees would rise. :( if they were in a house it would be rotting too! even though there are ppl who think they should be, condos are NOT subsidized housing! In the end, If you have some wherewithal on building maintenance, are on top of reoccurring maintenance and don't let issues fester I find my house much more predictable with it's upkeep costs. But I also like the privacy a house provides. My grandparents loved their condo, and were happy to pay the premium for the lifestyle. my parents were horrified w how high the condo fees were, but when my grandparents passed away, the agent we got to sell was excited because it was such a well kept up building!- as you know, underground parking, elevators and balconies all cost $$ to correctly upkeep over decades. the owners corps care paid off, the unit sold right away, actually got multiple offers when the condo market was not doing well in the area and it sold to an owner who lived there for over a decade. -In my mind, THAT's a proper condo.

Fair points-costs rise over time, whether it’s a condo OR a house. A new building (like a new house) starts cheap, but as elevators, roofs, or HVAC systems age, expenses go up. If your furnace breaks in a house, you’re paying to fix it, right? Same idea with condos. Also, condos sit on land too-and that land appreciates in value just like a house. Out of curiosity, how long did it take for your fees to jump from $400 to $750? That kind of increase (if it's over a short period) might signal bigger repairs or reserve fund issues.

@@undertheradarrealestate10 years

Over 10 years, a jump from $400 to $750 is about a 6.5% annual increase. While that sounds steep, it’s not far off from maintaining a 10-year-old house-HVAC servicing, roof fixes, and general wear add up. For perspective, a new AC unit alone can cost $4,000-$7,000, so that $4,200 in extra condo fees over a decade doesn’t seem so bad when compared to house upkeep. It’s all about where you want to spend your time and money!

​@@undertheradarrealestate Doesn't seem so bad, hardly scientific nor useful for a prospective owner, there are accepted guidelines and statistics, and they tell a different story.

Pricing is pricing - but yeah, the glut of inventory is in the small sub 2-bedroom segment.

Wow, if you can find me a house with $0 in annual maintenance costs, I’ll quit my job on the spot! 😂 But in all seriousness, none of the condos in the video had $1,000 fees with zero amenities. Maybe give it a full watch-you might be surprised at what you find. I promise, I’m not trying to sell anyone a festival room!?!

@@undertheradarrealestate You are cherry picking examples. I was just talking to someone whose fees, 2 bedroom condo, recently jumped from $1600 to $2400. Which is just about the cost of renting a similar condo, and soon to be more.

3 bedroom condo , no gym no nothing at all. Maintence fee under 6

@robertscott8336 *legitimate examples that can all be fact checked 😏

Honestly it all depends where you wanna live in toronto or around the gta. If you want all the bells & whistles wanting to be in a newish/modern condos is expensive. Older condos im talking in the late 70's -2000 early minimun sq feet close too 1000 sq feet per unit now a days its starting off like 600 sq feet for 1 bedroom or none. No lie its worth looking into the 1990s- 2000s early anything after seems pretty much a ripped off living space wise

*Cue the condo trolls* lol... Better management and better build quality could help in keeping fees in check. BUT there are a few hidden gems in a hidden gem neighbourhood where maintenance fees are pretty reasonable ;)

Some of these people think owning a house is free😂 a houses property tax is sometimes the cost of a yearly condo maintenance fee.

@@kjss4345 Sure a condo 1/4 the size of a small house. Not remotely comparable.

Dropped a little Valery shoutout in the intro 😉👊🏾

AI might not replace all of us, but it’s definitely going to make life harder for the ones who rely on just showing up. The good agents will still be there for the people who need help navigating/negotiating. But hey, maybe AI can take care of those agents who just send out generic emails. 😉

Thanks man - and yeah, took me a while to build up the knowledge of the rep squads/schools. But an outdoor court vid could be interesting!

Fair point-larger condos do come with higher fees since they’re calculated per square foot. But let’s not forget, houses come with their own 'maintenance fees' too-roof repairs, plumbing issues, furnace replacements-it all adds up. And just like condo fees, those costs can range from reasonable to outrageous depending on the age or condition of the property. The real question is: predictable monthly fees or surprise five-figure repairs? 🤔 (I've owned both and currently live in a large loft)

Thanks 💯

100%! These 6-10 unit multiplexes are exactly what Toronto needs more of-practical, family-friendly housing with mixed-use functionality. But damned zoning restrictions make it almost impossible to build these in this city. It's high time the City eased those barriers so we could see more creative solutions like this that truly meet housing needs!

True, Whitby is a great option if you’re okay with... living in Whitby. But the reality is not everyone wants (or can) move out of the city they work in. Toronto’s challenge is adding more housing within the city, not sprawling endlessly into neighbouring areas. Even Whitby might need to rethink its density in 25-30 years!

@@undertheradarrealestate Whitby is close enough to Toronto. There are go trains that go directly to Union Station and 401 and 407 are closeby. Sprawl is needed to support the additional population growth. Not everyone wants to overpay for a shitty condo thats 2 bedroom and 1k condo fees LMFAO.

Seems like condos hit a nerve-did a condo hurt you? 😅 But seriously, if everyone wanted a house in Whitby, here’s the reality: A) No $800K homes left. More demand = higher prices, so that $800K house wouldn’t stay $800K. (Although now that you already purchased, I'm sure that's NOW the end goal, I get it 😉) B) Traffic chaos. More commuters mean gridlock on the 401/407 and overcrowded GO trains-your 45 min commute could quickly become 2-3 hours. Your city's great - but just like your opinion on condos, not everyone wants to live in the 'Burbs.

@@undertheradarrealestate the condos are poorly built and pre-con is expensive per sq/ft with terrible layouts.

Hey - I’m not disagreeing on your points, some are valid (and also apply to some pre-con freehold homes as well). But again, this is a video about Toronto’s housing issues. Simply moving away, isn’t a solution for everybody.

I don't know if I trust the government to have complete control over real estate, but I agree that they should do more. Thanks for your input!🙏🏾

@@undertheradarrealestate The point is to take ownership of real estate out of the capitalist rentier class and place it into public control.

Thanks for the insights! There’s certainly some current and new technology rolling out that should hopefully make EV adoption easier.

Facts! It’s all a game, and the bumps are real. The question is-will they play it right this time or keep moving the goalposts? Appreciate your take!

@@undertheradarrealestate if we expose the cost vs gains, chances are they will be forced to do the right thing.

💯! So long as the people in power-and voters-keep hearing these takes, we can keep the pressure on to force some change.

HUGE Respect! That means a lot coming from you. Your channel is like the blueprint in this space-raising the bar and setting the standard. I’m just out here grinding to get on that level. Big thanks for showing love!

🎯 with the condo take. Developers spent decades building for investors, leaving little options for end users.

Thanks for the engagement! 👍😎

Sir, this is a real estate podcast 🍞. Not sure what 'True Dough' has to do with the U.S. election, but I’m here to help you 'save dough' with insights on affordable Toronto neighbourhoods. If you're hungry for that, I’m happy to serve it up! 🍕🍁

Yes, it's been mentioned quite a few times in these comments. On that note, take a watch through the rest of the content - the audio is much better.

Thanks for the engagement, and for watching the intro! 😉 But to keep it concise, I didn’t dive into too many details there. The price "uptick" you’re referring to is mainly happening in the trendy neighborhoods that most buyers tend to target. The point of this video is to open people’s eyes to other areas of the city that aren’t seeing the same price increases. And sure, I totally agree with the FOMO-it definitely exists! But that’s exactly why I’m pointing buyers toward alternative areas where their money can go further, and they don’t have to fall into the FOMO trap. Keep an eye on the channel-I’ll dive into this more in our market update podcast! 👍

Thanks for the engagement

Haha, oh the good ol’ days when a house cost less than a fancy car today! 😅 Things have definitely changed, and it’s wild how housing costs have spiraled out of control. It’s funny how those $50,000 homes sound like a dream now, but unfortunately, we’re living in a very different market these days. Definitely makes me wonder what ‘normal’ even means anymore!

Haha, oh the good ol’ days when a house cost less than a fancy car today! 😅 Things have definitely changed, and it’s wild how housing costs have spiraled out of control. It’s funny how those $50,000 homes sound like a dream now, but unfortunately, we’re living in a very different market these days. Definitely makes me wonder what ‘normal’ even means anymore!