The Hidden Costs of Buying the Wrong Ottawa Condo

When most buyers shop for a condo in Ottawa, they focus on the obvious things first: price, location, layout, parking, and amenities.

But some of the most expensive condo mistakes have nothing to do with the unit itself.

The reality is that two condos with nearly identical square footage and pricing can have dramatically different long-term costs, resale potential, and ownership experiences depending on the building behind them.

Here are some of the biggest hidden costs buyers should understand before purchasing a condo in Ottawa.

Cheap Condo Fees Can Actually Cost You More

One of the most common mistakes buyers make is assuming lower condo fees automatically mean a better deal.

In reality, unusually low condo fees can sometimes be a warning sign.

Condo corporations need money to maintain:

• Roofs

• Elevators

• Parking garages

• Windows

• HVAC systems

• Common areas

• Reserve funds

If fees are artificially low for too long, buildings may not be saving enough for future repairs. That can eventually lead to:

• Large special assessments

• Sudden fee increases

• Deferred maintenance

• Financing challenges for future buyers

A well-run condo with slightly higher fees is often financially healthier than a building trying to keep fees unrealistically low.

The important question is not “How low are the fees?”

It’s “What do the fees cover, and is the building financially stable?”

Older Buildings Are Not Always the Problem

Many buyers automatically assume newer condos are safer purchases.

Not necessarily.

Some older Ottawa condo buildings actually have:

• Larger floorplans

• Better sound insulation

• More established reserve funds

• Lower turnover

• Stronger long-term management

Meanwhile, some newer buildings may still be working through:

• Construction deficiencies

• Tarion warranty claims

• Investor-heavy ownership ratios

• Rapid fee increases as buildings age

Age matters less than management quality, reserve fund health, and overall maintenance.

A well-maintained 20-year-old building can outperform a poorly managed 5-year-old building over the long run.

Amenities Can Quietly Inflate Ownership Costs

Pools, concierge services, gyms, theatres, golf simulators, and rooftop lounges look great during showings.

But buyers often underestimate how much those amenities cost to maintain over time.

Buildings with extensive amenities typically have:

• Higher staffing costs

• More maintenance requirements

• Higher utility expenses

• More frequent equipment replacement

That does not mean amenities are bad. It simply means buyers should understand they are paying for them every month whether they use them or not.

In Ottawa, some buyers are now prioritizing:

• Lower monthly carrying costs

• Functional amenities they’ll actually use

• Smaller, more efficient buildings

Especially as affordability continues to matter more in 2026.

Investor-Owned Buildings Can Feel Very Different

Some Ottawa condo buildings have extremely high investor ownership percentages, especially downtown and near universities or transit hubs.

That can affect:

• Community feel

• Noise levels

• Turnover

• Maintenance standards

• Rental competition

• Financing options

In some buildings, a high number of short-term or transient tenants can create a very different living experience compared to owner-occupied communities.

Lenders also sometimes treat heavily investor-owned buildings differently during financing approvals.

This is one reason buyers should always look beyond the individual unit and understand the building as a whole.

Condo Status Certificates Matter More Than Most Buyers Realize

The status certificate is one of the most important documents in any Ottawa condo purchase, yet many buyers barely understand what they are reviewing.

A status certificate can reveal:

• Reserve fund issues

• Pending lawsuits

• Planned fee increases

• Special assessments

• Insurance concerns

• Budget shortfalls

• Rules and restrictions

• Ongoing disputes within the building

This is not just paperwork. It is effectively the financial and operational report card for the condo corporation.

Reviewing it carefully with a lawyer is critical.

Poor Layouts Hurt Resale Value

Not all square footage is equal.

Some condos technically have good size numbers on paper but waste space through:

• Oversized hallways

• Awkward room shapes

• Tiny kitchens

• Lack of storage

• Poor natural light

• Bad bedroom placement

Buyers in Ottawa are becoming much more layout-sensitive, especially after the rise of hybrid and remote work.

Units with:

• Functional dens

• Proper dining space

• Large windows

• Good bedroom separation

• Efficient storage
  often hold value better and appeal to a wider range of future buyers.

The Building’s Reputation Matters

Certain Ottawa condo buildings consistently perform better than others in resale value, demand, and buyer confidence.

That reputation can come from:

• Strong management

• Quality construction

• Good reserve fund planning

• Desirable layouts

• Lower issue history

• Strong communities

Buyers today research buildings heavily online before booking showings. Reviews, discussions, management history, and even recurring issues are easier to find than ever.

The unit matters.

But the building reputation matters too.

Final Thoughts

Buying a condo is not just buying four walls.

You are buying into a corporation, a financial structure, a management team, a community, and a long-term maintenance plan all at the same time.

That is why the “cheapest” condo is not always the best value, and the “nicest-looking” unit is not always the smartest purchase.

Understanding the hidden costs behind condo ownership can help buyers avoid expensive surprises and make stronger long-term decisions in Ottawa’s evolving market.

If you’re considering buying a condo in Ottawa and want help comparing buildings, reviewing long-term value, or understanding the differences between neighbourhoods and condo corporations, Matt Richling and the New Purveyors team can help guide you through the process.

The Best Ottawa Neighbourhoods for Condo Buyers in 2026 (And How to Choose the Right One)

Choosing the right neighbourhood is the most important part of buying a condo in Ottawa.

Two units with similar layouts and pricing can perform completely differently depending on where they’re located. In 2026, with more inventory and more selective buyers, location is playing an even bigger role in long-term value and day-to-day lifestyle.

If you’re trying to narrow down where to buy, this guide breaks down the top condo-friendly neighbourhoods in Ottawa and how to decide which one actually fits your goals.

What Makes a Neighbourhood “Good” for Condo Buyers?

Before getting into specific areas, it’s important to understand what actually drives demand.

The strongest condo locations in Ottawa typically have:

• Walkability to restaurants, groceries, and daily essentials

• Access to transit, especially the O-Train

• Proximity to employment hubs like downtown or the tech sector

• A clear lifestyle identity that attracts buyers and renters

Neighbourhoods that check these boxes tend to hold value better and resell faster.

Downtown Ottawa

Downtown Ottawa remains one of the most consistent condo markets in the city.

Why buyers choose it:

• Walking distance to government offices and major employers

• Strong rental demand from professionals

• Easy access to restaurants, shops, and transit

What to consider:

• Smaller average unit sizes

• Higher density living

• Older buildings mixed with newer developments

This area tends to attract investors and buyers who prioritize convenience over space.

The Glebe

The Glebe offers a very different condo experience.

Why buyers choose it:

• Established, walkable neighbourhood with strong character

• Access to Lansdowne Park and Bank Street

• Limited condo supply, which helps support long-term value

What to consider:

• Higher price points

• Fewer available units compared to other areas

This is often a lifestyle-driven purchase rather than a purely financial one.

Westboro

Westboro has become one of the most desirable condo neighbourhoods in Ottawa.

Why buyers choose it:

• Strong mix of lifestyle and convenience

• Access to the Ottawa River pathways and outdoor spaces

• Modern condo developments with updated finishes

What to consider:

• Premium pricing compared to other areas

• High demand can limit negotiation opportunities on the best units

Westboro appeals to buyers who want a balance between city living and outdoor access.

Hintonburg

Hintonburg has seen significant growth over the past decade.

Why buyers choose it:

• Unique, creative neighbourhood feel

• Strong restaurant and café scene

• Proximity to downtown with slightly more space and value

What to consider:

• Ongoing development and change

• Mix of older and newer buildings

This area tends to attract younger buyers and those looking for something less traditional.

Little Italy

Little Italy is one of the fastest-growing condo hubs in Ottawa.

Why buyers choose it:

• High concentration of newer condo buildings

• Close to Dow's Lake and recreational space

• Walkable access to Preston Street restaurants

What to consider:

• More competition from similar units

• Rapid development can impact views and surroundings

This is a strong option for buyers looking for newer buildings and modern amenities.

How to Choose the Right Neighbourhood for You

The best neighbourhood is not the same for everyone.

When narrowing it down, focus on:

1. Your daily routine
Where do you work, and how do you commute?

2. Your lifestyle priorities
Do you value nightlife, quiet streets, or access to nature?

3. Your budget and tradeoffs
Are you willing to sacrifice space for location, or vice versa?

4. Your long-term plan
Are you buying for 2 years, 5 years, or longer?

These factors matter more than trying to pick the “hottest” area.

A Quick Reality Check for 2026 Buyers

With more inventory on the market, you have options.

That means:

• You can compare neighbourhoods more carefully

• You do not need to rush into a decision

• You can wait for the right combination of unit and location

This is a major advantage compared to previous years.

Final Thoughts

Ottawa has a wide range of condo-friendly neighbourhoods, each offering a different lifestyle and investment profile.

The key is not finding the “best” neighbourhood overall, but finding the one that aligns with how you live and what you want long-term.

If you’re trying to narrow down your options, the most useful next step is usually to compare a few specific units across different neighbourhoods and see how they stack up in real terms.

That’s where the differences become clear very quickly.

Renting vs Buying in Ottawa (2026): The Numbers, the Tradeoffs, and What Actually Makes Sense

In 2026, the decision to rent or buy in Ottawa is no longer as straightforward as it used to be.

Interest rates, rising inventory, and shifting pricing have changed the math. At the same time, rental costs remain high in many parts of the city, especially for newer condos in central neighbourhoods.

If you’re trying to decide whether to keep renting or make the jump into ownership, this guide breaks down the numbers and the real-world tradeoffs so you can make a decision based on facts, not assumptions.

The Current Reality: Renting in Ottawa

Rental prices across Ottawa have stayed relatively strong, particularly for well-located condos.

As a general range in 2026:

• 1-bedroom condos in central areas often fall between $2,000 to $2,600/month

• 1-bedroom + den or newer buildings can push higher depending on amenities and location

• Units with parking and storage typically command a premium

What you’re paying for when you rent:

• Flexibility to move

• No responsibility for maintenance or repairs

• Predictable monthly costs (in most cases)

What you’re not building:

• Equity

• Long-term control over your housing costs

Renting is not “wasting money,” but it is a different financial path.

The Cost of Buying a Condo in Ottawa

Let’s break this down with a realistic example.

Assume:

• Purchase price: $500,000

• Down payment: 5% ($25,000)

• Mortgage: $475,000

• Interest rate: ~5% (approximate, varies by lender and term)

Monthly costs could look like:

• Mortgage payment: ~$2,750

• Condo fees: $400 to $700

• Property tax: ~$300 to $400

Total monthly cost: roughly $3,400 to $3,800

At first glance, this is higher than renting.

But that is not the full picture.

The Key Difference: Where Your Money Goes

When you rent, 100% of your payment is a cost.

When you own, part of your mortgage payment goes toward principal, which is effectively forced savings.

Using the example above:

• A portion of that $2,750 monthly payment is paying down your loan

• Over time, this builds equity in the property

• If property values increase, you benefit from appreciation

So while the monthly cost is higher, the net financial impact is different.

Break-Even Thinking: How Long You Need to Stay

This is one of the most important factors.

Buying only makes financial sense if you stay long enough to offset:

• Closing costs (land transfer tax, legal fees)

• Selling costs (agent fees, staging, etc.)

In Ottawa, a general rule of thumb:

• Less than 2–3 years → renting is often safer

• 3–5+ years → buying becomes more favourable financially

This is not a fixed rule, but it’s a useful baseline.

Flexibility vs Stability

This decision is not just financial.

Renting gives you:

• Freedom to relocate easily

• Lower upfront cost

• Less risk if your job or lifestyle changes

Buying gives you:

• Stability and control

• Protection against rising rents

• The ability to personalize your space

• Long-term wealth building potential

The right choice depends on how certain you are about your next few years.

Market Conditions Matter (A Lot)

In a fast-rising market, buying early tends to win.

In a more balanced or slower market, like what Ottawa is experiencing now, the decision becomes more nuanced.

What’s different in 2026:

• Buyers have more negotiating power

• There is less urgency to rush into a purchase

• You can be selective and wait for the right property

This reduces the risk of overpaying, which was a major concern in previous years.

When Buying Makes More Sense

Buying tends to be the stronger move if:

• You plan to stay in Ottawa for at least a few years

• You have stable income and savings

• You want predictable long-term housing costs

• You are comfortable with upfront expenses

When Renting Is the Better Option

Renting may be the smarter choice if:

• Your job or location is uncertain

• You are still building your savings

• You want maximum flexibility

• You are not ready to handle ownership responsibilities

The Most Common Mistake

The biggest mistake is treating this as a purely financial decision.

Two people with identical numbers can make different decisions and both be right, depending on their goals, lifestyle, and risk tolerance.

Final Thoughts

In Ottawa’s 2026 market, renting versus buying is not about which is universally better. It is about which makes sense for your timeline and financial situation.

The good news is that the market now gives you time to evaluate that decision properly.

If you’re unsure, the best next step is usually to run your numbers side by side based on your budget and see what ownership would actually look like for you in today’s market.

That tends to make the decision much clearer.

7 Signs an Ottawa Condo Building Is Better Run Than the Rest

When buying a condo in Ottawa, many buyers focus almost entirely on the unit itself.

They look at finishes, kitchen upgrades, views, layout, and price. All important. But there is another factor that can impact your ownership experience just as much, if not more:

How well the building is run.

You are not only buying four walls. You are buying into a condominium corporation, shared financial system, and management structure.

A beautiful condo in a poorly run building can become frustrating and expensive. A modest unit in a well-managed building can feel like a far better long-term purchase.

Here are seven signs an Ottawa condo building is better run than the rest.

1. The Common Areas Are Clean and Consistently Maintained

One of the simplest clues is often right in front of you.

Pay attention to:

• Lobby cleanliness

• Hallway condition

• Elevator appearance

• Garbage/recycling areas

• Landscaping and exterior care

• Lighting in shared spaces

• General upkeep

No building is perfect, but consistent maintenance usually reflects organized management and pride of ownership.

If common areas feel neglected during a showing, buyers should ask what else may be getting deferred behind the scenes.

2. Condo Fees Make Sense for What You’re Getting

Low fees are not always a positive. High fees are not always a negative.

Well-run buildings tend to have fees that align with:

• Building size and age

• Amenities offered

• Utilities included

• Reserve fund needs

• Ongoing maintenance realities

What matters is whether the fee structure appears logical and sustainable.

A building with unrealistically low fees may be underfunding future repairs. A building with strong planning often prices reality more honestly.

3. The Reserve Fund Appears Healthy

The reserve fund is money set aside for major future expenses such as:

• Roof systems

• Garage repairs

• Windows

• Mechanical systems

• Elevators

• Common element replacements

Strong buildings plan ahead.

Weak reserve funds can lead to sudden fee increases or special assessments later.

This is why reviewing the status certificate during a purchase matters so much.

4. Things Get Fixed Without Drama

Buyers often learn about a building’s quality through reputation.

Well-run buildings usually have systems where common issues are addressed reasonably efficiently, such as:

• Elevator repairs

• Security concerns

• Plumbing or HVAC common issues

• Cleaning standards

• Access problems

Every building has occasional issues. The difference is whether they are managed properly or left lingering.

5. The Building Has a Good Reputation Among Local Buyers and Agents

Some buildings develop strong reputations over time.

Reasons may include:

• Solid management

• Predictable ownership costs

• Good construction quality

• Quiet living experience

• Attractive resale demand

• Responsible condo board decisions

Others become known for recurring problems.

Experienced local agents often know which buildings consistently perform well and which require deeper caution.

That local context can save buyers a lot of trouble.

6. Rules Exist, But the Building Still Feels Livable

Good governance matters. So does common sense.

Well-run buildings usually balance standards with livability.

Examples:

• Sensible move-in procedures

• Reasonable pet rules

• Clear renovation guidelines

• Fair amenity booking systems

• Practical guest policies

Too little structure can create chaos. Too much rigidity can create frustration.

Balanced buildings often feel smoother to live in.

7. Units Tend to Sell With Consistent Demand

The market often notices quality.

Buildings that are well managed frequently see:

• Stronger buyer interest

• Better resale confidence

• Lower hesitation during due diligence

• More repeat demand from informed buyers

That does not mean every unit sells instantly, but good buildings often maintain healthier long-term demand.

Red Flags Buyers Should Watch For

On the other side, caution may be warranted if you notice:

• Neglected common spaces

• Sharp fee increases without explanation

• Ongoing elevator complaints

• Frequent owner frustration online

• Poor communication reputation

• Visible deferred maintenance

• Financial concerns in status review

One issue alone may not be fatal. Patterns matter.

Why This Matters in Ottawa Specifically

The condo market in Ottawa is highly building-specific.

Two buildings in the same neighbourhood with similar prices can offer very different ownership experiences depending on management quality.

That is especially relevant in areas like:

• Centretown

• Westboro

• Little Italy

• ByWard Market

Buying the right building can matter as much as buying the right unit.

Thinking About Buying an Ottawa Condo?

The finishes can be changed. Paint can be redone. Appliances can be replaced.

Building quality and management are much harder to fix.

If you’re comparing condos in Ottawa and want honest guidance on which buildings stand out for the right reasons, the New Purveyors team would be happy to help.

Should You Buy an Older Ottawa Condo or a Newer One?

If you’re shopping for a condo in Ottawa, one of the biggest questions you may run into is whether to buy an older building or something newer.

Many buyers assume newer automatically means better. Others believe older condos always offer stronger value. The truth is more nuanced than that.

Both older and newer condos can be smart purchases depending on your budget, priorities, lifestyle, and long-term plans.

The right decision usually comes down to understanding the trade-offs.

Why Buyers Are Drawn to Newer Condos

Newer condo buildings often attract buyers immediately because they feel modern, efficient, and move-in ready.

Common benefits include:

• Contemporary finishes

• Open-concept layouts

• Newer appliances and systems

• Modern amenities like gyms or lounges

• Better energy efficiency in some cases

• Less immediate renovation work

For buyers who value convenience, lower maintenance inside the unit, or a more current aesthetic, newer buildings can be appealing.

This is especially common in areas like Westboro, Little Italy, and newer downtown towers.

Why Buyers Still Love Older Condos

Older buildings can offer advantages many newer developments cannot.

These often include:

• Larger floor plans

• More separate living and dining space

• Better storage

• Solid concrete construction in many cases

• Established communities

• Lower price per square foot in some buildings

• Mature neighbourhood settings

Many buyers tour newer condos, then realize the space feels tighter than expected. Older condos can sometimes offer a much more functional day-to-day layout.

This can be especially relevant in established areas like Centretown and parts of The Glebe.

The Biggest Mistake: Judging by Age Alone

A condo’s age matters less than how the building has been managed.

A well-run older building with responsible reserve fund planning can be a stronger purchase than a newer building with poor management or future issues emerging.

Likewise, a newer condo is not automatically worry-free simply because it is recent.

Buyers should look at:

• Status certificate

• Reserve fund health

• Fee history

• Building reputation

• Maintenance quality

• Unit condition

• Rules and restrictions

• Construction quality

When an Older Condo Might Be the Better Buy

An older building may make more sense if you value:

More Space for Your Budget

Many older condos offer larger interiors than newer units at similar price points.

Better Layouts

Separate foyers, defined dining areas, larger bedrooms, and practical storage can outperform trendy but tighter modern layouts.

Prime Established Locations

Some of Ottawa’s best locations were developed long ago and still offer strong walkability and convenience.

Renovation Opportunity

Buying an older unit and modernizing it can create strong personal value.

When a Newer Condo Might Be the Better Buy

A newer condo may suit you if you prioritize:

Turnkey Living

Less desire to renovate or update finishes.

Modern Amenities

Gyms, rooftop terraces, concierge, party rooms, co-working lounges, and smart access systems can matter to some buyers.

Contemporary Design

Open kitchens, larger windows, and cleaner lines often appeal to modern tastes.

Easier Rental Appeal

Some investors prefer newer product when targeting tenant demand.

Things Buyers Often Overlook

Condo Fees

Older buildings may have higher fees due to age or bundled utilities. Newer buildings may start lower, but fees can rise as operating realities settle in.

Sound Transfer

Construction quality varies by building. Some older concrete buildings perform very well acoustically.

Unit Size vs Lifestyle

A stylish smaller condo may impress during a showing but feel limiting over time if you work from home or need storage.

Resale Audience

Think about who would want this condo when it is time to sell.

What We Often Tell Buyers in Ottawa

Do not buy “newer.” Do not buy “older.”

Buy the best specific building + specific unit + specific value available for your needs.

That may be:

• A renovated older condo with great square footage

• A newer one-bed in a walkable neighbourhood

• A larger older two-bed with parking

• A modern tower with strong amenities and future resale appeal

There is no universal winner.

Areas Where Buyers Compare This Most Often

This conversation often comes up in:

• Centretown

• Westboro

• Little Italy

• ByWard Market

• The Glebe

Each area offers a different mix of established buildings and newer developments.

Thinking About Buying a Condo in Ottawa?

The best condo purchase is rarely decided by age alone. It is decided by value, livability, building quality, and how well it fits your life.

If you’re comparing older versus newer options in Ottawa, the New Purveyors team would be happy to help you sort through the pros, cons, and smartest opportunities currently on the market.

Ottawa Condo Fees Explained: What’s Normal and What’s a Red Flag?

If you’re buying a condo in Ottawa, one of the first numbers you’ll notice after price is the monthly condo fee.

For some buyers, condo fees feel frustrating or confusing. Others assume higher fees automatically mean a bad deal. Neither is always true.

Condo fees are one of the most misunderstood parts of condo ownership. In reality, they can either represent solid value or signal issues worth investigating.

If you understand what you’re paying for, what’s typical, and what may be a warning sign, you can make far better buying decisions.

What Condo Fees Actually Are

Condo fees are monthly payments collected from owners to operate and maintain the building or community.

These fees commonly help cover:

• Maintenance of common areas

• Cleaning and landscaping

• Snow removal

• Building insurance for common elements

• Property management

• Elevator servicing

• Heating or water in some buildings

• Amenities upkeep

• Reserve fund contributions for future major repairs

You still typically carry your own personal condo insurance policy and pay your own mortgage and property taxes separately.

Why Condo Fees Vary So Much in Ottawa

Two condos with similar prices can have very different monthly fees.

That usually comes down to factors like:

• Building age

• Size of the building

• Number of units sharing costs

• Amenities offered

• Utilities included

• Type of construction

• Management quality

• Reserve fund planning

• Townhome condo vs tower condo structure

For example, a newer high-rise with concierge, gym, elevators, underground parking, and shared utilities may have higher fees than a low-rise building with fewer amenities.

What Is “Normal” for Ottawa Condo Fees?

There is no single perfect number.

Fees are usually evaluated in context:

• Size of the unit

• What is included

• Building quality

• Age and maintenance needs

• Amenity package

• Location and market segment

A fee that seems high may be reasonable if it includes heat, water, premium amenities, strong management, and healthy long-term planning.

A low fee can look attractive, but if the reserve fund is weak or the building is underfunded, it may create problems later.

When Higher Condo Fees Can Be Totally Fine

Higher fees are not automatically a red flag.

Sometimes they reflect:

• Older buildings maintaining major systems responsibly

• Full-service buildings with concierge/security

• Indoor pools, gyms, party rooms, guest suites

• Utilities bundled into ownership cost

• Strong reserve fund contributions

Some buyers prefer paying more monthly in exchange for convenience and predictability.

Real Red Flags Buyers Should Watch For

The fee amount alone is not the issue. The context is.

Potential warning signs include:

Fees Rising Rapidly Every Year

Moderate increases happen. Sharp recurring jumps may indicate past underfunding or rising operating pressures.

High Fees With Very Little Included

If fees are substantial but owners still separately pay most utilities and there are minimal amenities, it is worth understanding why.

Weak Reserve Fund

The reserve fund is money saved for major future repairs such as roofing, windows, garage work, mechanical systems, elevators, and more.

If the fund is weak, owners may face future special assessments or fee increases.

Deferred Maintenance

If common areas look tired, systems seem neglected, or repairs appear delayed, that can signal management or financial strain.

Legal or Governance Issues

Status certificate review can reveal disputes, lawsuits, arrears, or governance concerns.

Why Low Condo Fees Can Mislead Buyers

Low fees often attract attention online, but very low fees are not always a gift.

Sometimes they mean:

• Under-contributing to reserve fund

• Delaying maintenance

• Future increases likely

• Owners self-managing without long-term planning

• Expenses pushed elsewhere

A building that looks cheaper today can become more expensive later.

Condo Fees vs Freehold Ownership Costs

Many buyers compare condo fees to “throwing money away.” That is too simplistic.

Freehold owners often pay separately for:

• Roof replacement

• Driveway repairs

• Landscaping

• Snow removal

• Exterior maintenance

• Insurance differences

• Unexpected repairs

Condo fees convert many of those shared obligations into predictable monthly costs.

That does not make condos better or worse. It just means ownership costs are structured differently.

How Buyers Should Analyze Condo Fees Properly

Instead of asking “Are the fees high?” ask:

• What is included?

• How old is the building?

• Is the reserve fund healthy?

• How have fees changed over time?

• Are amenities worth it to me?

• How well is the building maintained?

• How does this compare to competing buildings?

That gives a much smarter answer than looking at one number.

Why Building-by-Building Advice Matters in Ottawa

Condo buying in Ottawa is highly building-specific.

Two nearby buildings can have completely different ownership experiences based on management, fee history, construction quality, and owner culture.

That is why local experience matters.

Thinking About Buying an Ottawa Condo?

Condo fees should not scare you, but they should be understood.

The right condo can offer strong lifestyle value and long-term ownership stability. The wrong one can create frustration and surprise costs.

If you're comparing buildings in Centretown, Westboro, Little Italy, or downtown ByWard Market, Matt Richling and the New Purveyors team would be happy to help you understand which fees make sense and which deserve caution.

The Best Ottawa Neighbourhoods for Condo Buyers Who Want Walkability

For many condo buyers in Ottawa, walkability is no longer just a bonus. It is one of the main priorities.

Being able to grab groceries without driving, walk to coffee shops, meet friends for dinner, get to work more easily, or simply enjoy a neighbourhood with energy and convenience can dramatically improve day-to-day life.

The good news is Ottawa has several neighbourhoods where condo living and walkability go hand in hand. The right fit depends on your budget, lifestyle, commute, and what kind of atmosphere you want around you.

Here are some of the best areas to consider.

Centretown

If convenience is your top priority, Centretown is one of the strongest choices in the city.

You are close to downtown offices, restaurants, grocery stores, fitness studios, coffee shops, nightlife, and everyday essentials. Many residents can live with minimal car use, especially if they work centrally or use transit.

Why buyers choose it:

• Excellent walkability

• Strong condo inventory

• Easy downtown access

• Great mix of older value buildings and newer towers

• Busy urban lifestyle

Best for:

• Professionals

• Buyers who want city energy

• People downsizing from suburban car dependence

Things to consider:

• Busier streets in some pockets

• Older buildings require building-by-building due diligence

Westboro

Westboro remains one of Ottawa’s most desirable lifestyle neighbourhoods.

It blends urban convenience with a polished residential feel. You have restaurants, boutiques, gyms, cafés, grocery options, and quick access to the Ottawa River pathways.

Why buyers choose it:

• Strong neighbourhood identity

• Great restaurants and coffee scene

• Excellent walkability

• Attractive modern condo stock

• Access to recreation and cycling paths

Best for:

• Professionals

• Buyers wanting lifestyle and aesthetics

• Downsizers seeking quality over size

Things to consider:

• Prices can be higher than some other condo areas

The Glebe

The Glebe offers walkability with character.

This is one of Ottawa’s most established neighbourhoods, known for tree-lined streets, local shops, cafés, restaurants, and access to parks and the canal. Condo inventory is more limited than Centretown, but demand stays strong.

Why buyers choose it:

• Charming streetscape

• Lansdowne access

• Strong local shopping strip

• Excellent long-term desirability

Best for:

• Buyers who value charm and prestige

• Downsizers

• Buyers wanting a less tower-heavy feel

Things to consider:

• Lower condo inventory can limit options

Little Italy

Little Italy has become one of the most attractive condo zones for buyers who want modern buildings and strong lifestyle appeal.

With Preston Street restaurants, nearby transit, Dow’s Lake, and access to the future growth around the area, it offers a lively but manageable urban feel.

Why buyers choose it:

• Great food scene

• Modern condo developments

• Walkable social lifestyle

• Seasonal access to Dow’s Lake and paths

Best for:

• Younger professionals

• Buyers wanting newer condos

• Social, active lifestyles

Things to consider:

• Some pockets still evolving block by block

ByWard Market

If you want true downtown convenience, the ByWard Market remains one of Ottawa’s most walkable areas.

Groceries, restaurants, nightlife, shopping, transit, and major employment nodes are close by. It is one of the easiest places in Ottawa to live without relying on a car.

Why buyers choose it:

• Extremely central

• High convenience factor

• Strong appeal for investors and professionals

• Newer condo options mixed with established towers

Best for:

• Urban buyers

• Investors

• Buyers prioritizing location over square footage

Things to consider:

• Some buyers prefer quieter neighbourhood environments

Hintonburg

Hintonburg has become a go-to choice for buyers who want personality.

It offers a creative, local-business-driven atmosphere with cafés, breweries, restaurants, shops, and growing condo options nearby.

Why buyers choose it:

• Trendy local feel

• Strong restaurant scene

• Great transit access

• Good balance of city energy and neighbourhood feel

Best for:

• Buyers wanting culture and uniqueness

• Professionals

• Creative-minded buyers

What Makes a Walkable Condo Purchase Smart?

Walkability is not only about lifestyle. It can also support long-term value.

Many buyers consistently prioritize:

• Transit access

• Daily convenience

• Entertainment nearby

• Reduced commuting friction

• Lower dependence on vehicles

That means highly walkable neighbourhoods often maintain steady buyer demand.

How to Choose the Right Walkable Ottawa Neighbourhood

Ask yourself:

• Do I want quiet or energy?

• Do I need parking?

• Do I commute daily?

• Do I value restaurants or green space more?

• Am I prioritizing value or premium lifestyle?

• Do I want newer construction or established buildings?

There is no universal best area. There is only the best fit for your life.

Thinking About Buying a Condo in Ottawa?

Neighbourhood choice matters just as much as the unit itself. The right condo in the wrong area can feel like a compromise. The right area often improves your everyday life immediately.

If you're considering a condo purchase in Ottawa and want honest guidance on buildings, neighbourhoods, resale value, and lifestyle fit, the New Purveyors team would be happy to help.

What First-Time Condo Buyers in Ottawa Always Forget to Check

Buying your first condo in Ottawa can be exciting. It can also be overwhelming. Most first-time buyers spend a lot of time focused on price, mortgage payments, finishes, and location. Those things matter, but they are not the only things that determine whether a condo feels like a smart purchase six months later.

Some of the most common regrets come from details buyers simply did not know to look into.

If you're planning to buy your first condo, here are the things many buyers forget to check.

The Monthly Cost Beyond the Mortgage

A condo’s purchase price is only part of the story.

Many first-time buyers focus on the mortgage payment and forget to fully account for:

• Condo fees

• Property taxes

• Utilities not included in fees

• Parking costs

• Insurance

• Future maintenance or upgrades inside the unit

Sometimes a condo with a lower purchase price can actually cost more monthly than a slightly higher-priced option with lower fees or better efficiency.

Always compare the full monthly ownership cost.

What the Condo Fees Actually Cover

Not all condo fees are equal.

Two buildings may have similar fees, but one may include heat, water, amenities, and strong maintenance, while another includes less.

Important questions to ask:

• Does it include heat or hydro?

• Is water included?

• Is parking separate?

• Are there amenities you’ll use?

• Is there 24/7 concierge or security?

• Are fees rising quickly year after year?

High fees are not automatically bad. Poor value is the issue.

The Building’s Financial Health

Many first-time buyers fall in love with the unit and ignore the building itself.

You are not just buying a condo. You are buying into the corporation that manages the building.

This is why reviewing the status certificate matters. It can reveal:

• Reserve fund strength

• Pending legal disputes

• Special assessments

• Rules and restrictions

• Financial concerns

A beautiful unit in a poorly run building can become an expensive lesson.

Noise and Exposure

Photos do not tell the whole story.

Two condos in the same building can feel completely different depending on where they face.

Things to consider:

• Busy road exposure

• Nightlife noise

• Garbage or loading areas below

• Future construction nearby

• Little natural light

• Direct views into neighbouring units

Visit at different times if possible. A condo can feel calm at noon and very different at night.

Parking and Locker Reality

Buyers often assume parking or storage comes with the unit. Sometimes it does not.

Clarify:

• Is parking owned, rented, or unavailable?

• Is the spot underground or outside?

• Is EV charging possible?

• Is there a storage locker?

• Where is it located?

In some parts of Ottawa, parking can have major resale value.

Layout Over Square Footage

A first-time buyer may compare numbers and choose the larger unit. That can be a mistake.

Smart layouts often outperform bigger but awkward units.

Look for:

• Real dining or work-from-home space

• Good kitchen flow

• Bedroom privacy

• Closet storage

• Space for guests or hobbies

• Living room dimensions that actually fit furniture

How a condo lives matters more than what the listing says.

Resale Potential

Even if you plan to stay for years, life changes.

A good first condo should also appeal to future buyers.

Usually easier to resell:

• One-bed plus den layouts

• Parking included

• Good transit access

• Well-managed buildings

• Functional floor plans

• Strong neighbourhood demand

Buying with resale in mind gives you more options later.

The Neighbourhood Lifestyle

Many first-time buyers buy the unit and forget the area.

Think about your daily life:

• Grocery access

• Transit routes

• Walkability

• Gyms

• Coffee shops

• Green space

• Commute time

• Safety perception

• Weekend energy vs quiet streets

A condo is not just four walls. It is how you live every day.

Why Guidance Matters

First-time condo buyers often do not need someone to open doors. They need someone to point out what they would never think to ask.

That includes building reputation, fee trends, resale strength, negotiation strategy, and avoiding costly surprises.

Thinking About Buying Your First Ottawa Condo?

Whether you're considering Centretown, Westboro, Little Italy, or downtown ByWard Market, the right first purchase can set you up financially for years.

If you’d like help understanding which condos make sense and which ones to avoid, the New Purveyors team would be happy to help.

The First 5 Homes You See Will Probably Be Wrong. Here’s Why That’s Normal

Most buyers think they’ll know right away.

You walk into the first few homes, and one of them will just click. It’ll feel right, make sense, and you’ll be ready to move forward.

In reality, that’s almost never how it works.

In Ottawa, especially right now, the first 5 homes you see are usually part of the process, not the outcome. And understanding that early can save you a lot of stress, second-guessing, and rushed decisions.

Why the First Homes Rarely Work

At the beginning of your search, you’re not just looking at homes. You’re learning how to look at homes.

There’s a big difference.

Most buyers start with a general idea:

• Budget range

• Preferred area

• Number of bedrooms

• A few “must-haves”

But those criteria are usually untested.

Once you start walking through properties, reality starts to reshape your expectations.

1. Your Priorities Haven’t Been Pressure-Tested Yet

On paper, everything sounds good.

Three bedrooms. Finished basement. Nice kitchen. Good neighbourhood.

But when you actually walk through a home, you start noticing things you didn’t expect to care about:

• Layout flow

• Natural light

• Ceiling height

• Storage

• Noise levels

• Street feel

Suddenly, something that “checked all the boxes” doesn’t feel right.

That’s not a failure. That’s refinement.

2. Photos vs Reality Is a Real Gap

This is especially true in Ottawa’s current market.

Listing photos are designed to highlight the best parts of a home. But they don’t always capture:

• Tight layouts

• Wear and tear

• Street positioning

• Overall feel of the space

So your first few showings often come with a bit of surprise.

Buyers quickly learn:
“This looked better online than in person.”

Again, completely normal.

3. You Haven’t Seen Enough to Compare Yet

The first few homes exist in isolation.

You don’t yet have a strong reference point for:

• What $600K actually gets you in different neighbourhoods

• How layouts vary between similar homes

• What’s considered “updated” vs “original”

After 5 to 10 showings, patterns start to emerge. That’s when your decision-making gets sharper.

4. Your “Must-Haves” Start to Shift

Almost every buyer adjusts their criteria after seeing a few homes.

Common shifts look like:

• “We thought we needed a finished basement, but we don’t.”

• “We didn’t think layout mattered this much, but it does.”

• “We’re willing to compromise on finishes for a better location.”

This is one of the most important parts of the process, and it only happens by actually seeing homes.

5. You’re Still Figuring Out How It Should Feel

Buying a home isn’t just logical. It’s also intuitive.

There’s a certain level of comfort, flow, and fit that’s hard to define until you experience it.

The first few homes help you understand:

• What feels too small

• What feels too busy

• What feels right

That “feeling” becomes much clearer after a handful of showings.

What Changes After the First 5–10 Homes

This is where things start to click.

Buyers become:

• More decisive

• More realistic

• More confident in what they want

Instead of reacting to each home individually, you start comparing:
“This one is better than the last one because…”
“This one doesn’t work because we’ve seen better…”

And that’s when you’re actually ready to make a strong decision.

The Risk of Expecting to Find “The One” Too Early

One of the biggest mistakes buyers make is putting too much pressure on the first few homes.

This can lead to:

• Forcing a decision too early

• Overlooking better options that come later

• Feeling discouraged when nothing feels right immediately

The process isn’t broken. You’re just still in the learning phase.

The Ottawa Factor

In Ottawa, this learning curve is even more important because inventory can vary a lot depending on:

• Neighbourhood

• Price point

• Property type

A $650K home in Barrhaven is going to feel very different from a $650K home in Vanier or Carlington.

Seeing a range of options early on gives you a much clearer understanding of what’s realistic for your budget.

A Better Way to Approach Your Search

Instead of trying to “find the one” right away, approach the first few showings as research.

Pay attention to:

• What you like more than expected

• What bothers you more than expected

• What you’d be willing to compromise on

By the time the right home comes up, you’ll recognize it quickly and feel confident acting on it.

Final Thought

If you’ve seen a few homes and nothing feels quite right yet, that doesn’t mean something is wrong.

It usually means you’re exactly where you should be.

The right home rarely shows up before you’ve had the chance to understand what “right” actually looks like for you.

And once you do, the process gets a lot easier.

Best Neighbourhoods in Ottawa for Families, Commuters, and First-Time Buyers

One of the biggest questions people ask when moving to Ottawa is simple: which neighbourhood should I choose?

Ottawa is a large and diverse city, and each community offers something different. Some neighbourhoods are known for walkability and historic charm, while others are popular for newer homes, family-friendly streets, and quick access to major highways.

Choosing the right area is just as important as choosing the right home. The lifestyle, commute, schools, parks, and amenities around a property can shape your experience of living in Ottawa just as much as the house itself.

Here are a few of the neighbourhoods buyers consistently explore when looking for homes in Ottawa.

Stittsville: Growing Community with New Homes and Green Space

Stittsville has become one of Ottawa’s fastest-growing suburban communities, attracting buyers who want modern homes and access to nature.

Many of the neighbourhoods here feature newer construction from well-known builders, with layouts designed for modern living. Families are drawn to the area because of its parks, walking trails, and strong sense of community.

The area also offers convenient access to Kanata’s tech sector and major routes like Highway 417, making it a practical option for commuters.

For buyers looking for newer townhomes or detached homes in Ottawa, Stittsville often appears high on the list.

Kanata: Technology Hub with Established Communities

Kanata is widely known as Ottawa’s technology hub, home to many companies in the city’s tech sector.

Beyond employment opportunities, Kanata offers a wide range of housing options, from older established neighbourhoods with mature trees to newer developments with modern homes.

Residents benefit from amenities such as:

• Shopping at Kanata Centrum

• Recreation facilities and sports complexes

• Easy access to nature areas like the South March Highlands

Because of its employment base and strong infrastructure, Kanata continues to be one of the most desirable areas for professionals and families.

Barrhaven: Popular Choice for Families

Barrhaven has long been known as one of Ottawa’s most family-oriented communities.

The area offers a wide selection of townhomes and detached homes, along with schools, parks, and community facilities designed with families in mind.

Many buyers appreciate Barrhaven for its:

• Family-friendly neighbourhood planning

• Access to schools and recreation centres

• Retail and grocery options close to residential areas

With continued growth and new developments being built, Barrhaven remains a popular destination for buyers who want suburban living with easy access to city amenities.

Centretown: Urban Living in the Heart of the City

For buyers who prefer walkability and city living, Centretown offers a very different lifestyle from Ottawa’s suburban communities.

Located close to Parliament Hill and the downtown core, Centretown features a mix of condominiums, heritage buildings, and smaller residential streets.

Residents enjoy easy access to:

• Restaurants and cafés

• Public transit and bike infrastructure

• Cultural attractions and entertainment

Centretown appeals to buyers who value being able to walk to work, restaurants, and events rather than relying on a car.

Orleans: Space, Schools, and River Access

Located in Ottawa’s east end, Orleans has grown significantly over the past two decades and offers a mix of established and newer communities.

The area is particularly popular with families because of its parks, schools, and access to outdoor recreation along the Ottawa River.

Many neighbourhoods in Orleans provide:

• Larger homes and lots compared to central areas

• Family-friendly streets and parks

• Easy access to the expanding LRT system

For buyers seeking a balance of space, affordability, and community amenities, Orleans continues to attract strong interest.

Choosing the Right Ottawa Neighbourhood

The best neighbourhood ultimately depends on lifestyle, commute, budget, and long-term goals.

Some buyers prioritize walkability and access to restaurants. Others are looking for newer homes, quiet streets, and proximity to schools. Many are balancing multiple factors including commute time, price range, and future resale value.

Working with a local real estate expert can help buyers navigate these decisions more effectively, especially in a city as diverse as Ottawa.

Understanding the character of each neighbourhood and how different areas are evolving can make the process of finding the right home far easier.

What No One Tells You About Owning a Home in Ottawa (Until You’re Already In It)

What No One Tells You About Owning a Home in Ottawa (Until You’re Already In It)

Buying a home in Ottawa is exciting, emotional, and often a huge life milestone. But once the keys are in your hand and the adrenaline fades, a lot of people realize there were parts of homeownership no one really explained.

Not because agents are hiding things. But because you don’t know what questions to ask until you’re living it.

Here are the realities of owning a home in Ottawa that most people only learn after move-in day.

1. Ottawa Winters Change How You Use Your Home

Winter doesn’t just mean snow. It changes your routines, storage needs, and even how you evaluate a property.

Things that matter more here than in many other cities:

• Entryways with space for boots, coats, and wet gear

• Mudrooms or defined drop zones

• Driveway length and snow storage space

• Sun exposure for natural light during shorter days

Homes that feel perfect in July can feel very different in January. Thinking seasonally is one of the most overlooked parts of buying well in Ottawa.

2. Maintenance Is Not One Big Cost — It’s a Series of Small Ones

Most people budget for major repairs like roofs or furnaces. Fewer people think about the constant, quieter expenses:

• Gutter cleaning

• Snow removal or equipment

• Lawn care and yard maintenance

• Filters, caulking, weatherstripping, touch-ups

None of these are deal-breakers on their own. Together, they shape how much time and energy homeownership actually takes.

This is often why some buyers later realize a condo or managed property would have suited their lifestyle better — not because they couldn’t afford a house, but because they didn’t want the upkeep.

3. Your Neighbourhood Matters More Than Your Floor Plan

Inside the home, you can renovate. Outside of it, you’re committing.

In Ottawa, neighbourhood differences show up in very real ways:

• Snow clearing speed on residential streets

• Walkability in winter versus summer

• Noise levels during festival season

• Access to trails, parks, and river pathways

• School traffic patterns on weekday mornings

Two homes with identical layouts can feel completely different depending on where they’re located. Long-term happiness usually comes down to lifestyle fit, not square footage.

4. Older Ottawa Homes Come With Charm and Quirks

Ottawa has a lot of character homes, especially in established neighbourhoods. That charm often comes with realities buyers should understand upfront:

• Older electrical or plumbing systems

• Uneven floors or non-standard room sizes

• Limited closet space

• Additions done across multiple decades

These aren’t necessarily negatives. But they require a mindset shift. Buying an older home is often about embracing character rather than expecting perfection.

5. Your Home Will Change With Your Life Faster Than You Expect

Many buyers shop for who they are today. The home you need in three to five years can look very different.

Common shifts we see:

• Remote or hybrid work creating space needs

• Family changes

• Aging pets or family members

• Desire for quieter streets or more green space

• Downsizing responsibilities rather than upsizing rooms

The best purchases leave room for flexibility, even if the home isn’t your forever one.

6. Ownership Feels Different Than Renting — Emotionally, Not Just Financially

Once it’s yours, everything hits differently.

• Repairs feel more personal

• Noise matters more

• Neighbours matter more

• Decisions carry more weight

That sense of pride is powerful, but so is responsibility. Understanding that emotional shift ahead of time helps buyers feel confident rather than overwhelmed.

The Best Homes Fit Your Life, Not Just Your Budget

Owning a home in Ottawa isn’t just about the purchase. It’s about how the property works for your routines, your seasons, and your future.

The right home doesn’t just look good on move-in day. It supports how you actually live.

That’s the difference between buying a house and building a home.

What Every First-Time Buyer in Ottawa Should Know Before House Hunting

Buying your first home is exciting—it’s a huge milestone and a chance to create a space that’s truly yours. But in Ottawa’s 2025 market, being prepared is key to making sure your first home purchase is a smart one.

With a little strategy and the right mindset, first-time buyers can find great opportunities—even in a competitive market. Here’s what you need to know before jumping in.

1. Your First Home Might Not Be Your Forever Home—And That’s Okay

It’s easy to picture your first home as the one—the dream space that checks every box. But the best way to approach house hunting? Think about what you need now, and what will set you up for the future.

✔ Prioritize location, layout, and structure—cosmetic upgrades can come later.
✔ Consider what will help build equity and resale value if you want to move in a few years.
✔ A home that fits 80% of your wishlist is often a great investment.

💡 How to Stay Flexible: Instead of focusing on what’s missing, look at a home’s potential. Some of the best first-time buys are the ones where you can add value over time.

2. Owning a Home Comes With More Than Just a Mortgage—So Plan Ahead

One of the best things you can do before buying? Get a full picture of what your monthly costs will be. Owning a home isn’t just about the purchase price—it’s about making sure your budget is comfortable after you move in.

Here’s what to plan for:
✔ Property taxes – These vary by neighbourhood and can add $300–$800/month
✔ Utilities – Heating, electricity, and water bills depend on the home’s size and efficiency
✔ Home insurance – Typically $100–$200/month
✔ Maintenance – Budget at least 1% of the home’s value per year for repairs
✔ Condo fees (if applicable) – These cover maintenance, but can increase over time

💡 How to Stay Prepared: Ask for past utility and property tax bills to estimate costs before you buy. Small expenses add up, but knowing what to expect makes budgeting easier.

3. The Best Homes Sell Fast—So Being Ready Gives You an Edge

In some neighbourhoods, well-priced homes don’t stay on the market for long. That doesn’t mean you have to rush a decision, but it does mean being prepared will help you land the right home when you find it.

✔ Get pre-approved before starting your search—this helps you act quickly.
✔ Know what you’re looking for so you can confidently make an offer.
✔ Work with a great agent who knows the market and can guide you through the process.

💡 How to Stay Confident: Buying your first home is a big decision, but with the right preparation, you’ll feel ready to make a smart move when the perfect opportunity comes along.

4. The Right Neighbourhood is Just as Important as the Right Home

The best home for you isn’t just about the layout and finishes—it’s also about where it’s located.

Think about:
✔ Commute times – Whether by car, transit, or bike, consider how daily travel fits your routine.
✔ Walkability – Do you want to be near coffee shops, grocery stores, or parks?
✔ Future growth – Some of Ottawa’s fastest-growing areas offer great value now and even better resale potential later.

💡 How to Choose Wisely: Spend time in the neighbourhoods you’re considering—visit at different times of day, test out the commute, and get a feel for the community.

5. Your First Home is a Step Toward Bigger Goals

Buying a home is a major milestone, and it’s about more than just where you live today—it’s about setting yourself up for the future. Whether it’s building equity, having a space that truly feels like yours, or creating long-term stability, this is an exciting first step.

💡 How to Feel Confident: Surround yourself with the right team—a great mortgage broker, a knowledgeable agent, and experts who can guide you through the process.

Final Thoughts: You’re More Ready Than You Think

Yes, Ottawa’s real estate market is competitive—but with the right knowledge, preparation, and guidance, buying your first home is absolutely possible.

✔ Know your budget and plan beyond the mortgage.
✔ Be ready to act when you find the right home.
✔ Think long-term—your first home is just the beginning.

Thinking about buying? Let’s chat. We’ll help you navigate the process so you can find a home that fits your life and your future.

The Biggest Condo Buying Mistakes in Ottawa (And How to Avoid Them in 2025)

Buying a condo in Ottawa is exciting, but it’s also one of the biggest financial decisions you’ll make. And while condos can be a smart investment—whether for living or renting—there are plenty of ways to get it wrong.

I’ve seen buyers make the same mistakes over and over again, and in 2025, with the market shifting, avoiding these pitfalls is more important than ever. If you’re thinking about buying a condo, here’s what NOT to do.

Mistake #1: Assuming the Lowest Condo Fees Are the Best

No one loves paying condo fees. But if you’re filtering your search by “lowest fees first,” you might be setting yourself up for a financial nightmare.

Here’s why:

• Low fees don’t always mean low costs. If a building isn’t collecting enough in fees, it may not have enough money for maintenance, meaning surprise special assessments (aka sudden bills to cover repairs).

• Newer buildings often start with artificially low fees. Developers set them low to attract buyers, but within a few years, they almost always go up.

• Older buildings with higher fees aren’t always bad. Some of the best-run buildings in Ottawa have higher fees because they properly fund maintenance and repairs—saving you from big, unexpected expenses down the line.

🚨 How to Avoid This Mistake: Always review the condo’s status certificate before buying. This document will tell you how healthy the building’s finances are and whether there’s a risk of fees skyrocketing.

Mistake #2: Thinking All Condos Appreciate the Same Way

Some buyers assume that any condo in Ottawa will increase in value over time. That’s just not true.

Condos appreciate differently than freehold homes, and in 2025, it’s more important than ever to be strategic. Some buildings will see great appreciation—others will stagnate or even lose value.

The difference?

✔ Location matters. Condos in walkable areas with strong transit options (Westboro, Little Italy, The Glebe, etc.) tend to hold value better.
✔ Building reputation is huge. If a building has poor management, high turnover, or issues with maintenance, buyers will avoid it—hurting resale value.
✔ Layouts play a role. Units with smart floor plans, good natural light, and functional storage will always be more desirable than awkward or dark units.

🚨 How to Avoid This Mistake: Research resale history in a building before buying. If units have been sitting on the market for months or reselling at a loss, that’s a red flag.

Mistake #3: Overlooking the Reserve Fund

Would you buy a house with a collapsing roof? Probably not. But buying a condo in a building with a bad reserve fund is just as risky.

The reserve fund is the building’s emergency savings account. If it’s underfunded, guess who’s paying for repairs? You and the other owners.

🚨 How to Avoid This Mistake:

• Check the reserve fund study (found in the status certificate). It shows how much money is in the fund and whether it’s enough to cover future expenses.

• Ask about special assessments. If a building has had surprise bills in the past, it could happen again.

• Avoid buildings with deferred maintenance. If repairs have been put off for too long, it’s only a matter of time before the costs catch up.

Mistake #4: Not Considering Future Development

You love the view from your condo? So does the developer planning to build a 40-storey tower right next door.

Future construction can impact:
❌ Your view
❌ Noise levels
❌ Traffic and congestion
❌ Even property values (depending on what’s being built)

🚨 How to Avoid This Mistake:

• Check the city’s development plans. Ottawa has several large-scale projects in the works—make sure your dream view isn’t about to be blocked.

• Look at what’s happening nearby. If there are vacant lots or old buildings slated for redevelopment, find out what’s planned.

• Ask your realtor. We have access to city planning documents and can tell you what’s coming.

Mistake #5: Ignoring Parking (Even If You Don’t Drive)

You don’t have a car? Cool. But skipping a parking spot could still be a mistake.

Why? Because resale value matters. Many buyers (and renters) in Ottawa still want parking, and in some buildings, the lack of a spot can make a unit much harder to sell.

That being said, not all parking is equal. A well-located indoor spot is worth more than an outdoor space. A right-sized space (not crammed into a corner) is more desirable. And in some buildings, parking spaces are selling for upwards of $60,000—so make sure you’re not overpaying.

🚨 How to Avoid This Mistake: Even if you don’t need parking now, consider resale demand. If parking is limited in the building, having a spot could give you an edge when selling.

Mistake #6: Thinking Pre-Construction is a Guaranteed Win

Pre-construction condos used to be a no-brainer: buy early, wait a few years, and watch the value go up. In 2025, that’s not always the case.

Why?

• Construction costs are rising, meaning developers are pricing units higher.

• Some projects are delayed or canceled, leaving buyers in limbo.

• The resale market offers great options—why wait years when you can buy a move-in-ready condo now?

That’s not to say pre-construction is bad. But you need to be strategic.

🚨 How to Avoid This Mistake:
✔ Only buy from a reputable developer. Some developers have a history of delays and budget overruns—know who you’re dealing with.
✔ Read the fine print. What happens if your unit is delayed by two years? Can you assign (sell) the unit before closing?
✔ Compare with resale options. In some cases, a move-in-ready unit makes more financial sense than waiting for a pre-construction unit.

Final Thoughts: Buying a Condo in 2025? Do It Right.

Buying a condo can be a great investment—if you do it the right way. That means:

✔ Researching condo fees and financials
✔ Choosing a unit with long-term value
✔ Being aware of future development
✔ Thinking about resale potential
✔ Understanding the risks of pre-construction

And most importantly? Working with an agent who knows Ottawa’s condo market inside and out. If you’re thinking about buying, let’s chat.

Why Buying a Condo in Ottawa in 2025 Is a Smart Move (Even If You’re Hesitant)

Ottawa’s condo market has been through its ups and downs over the last few years. Prices surged, then balanced out. Interest rates climbed, then fluctuated. Remote work reshaped how and where people wanted to live. But in 2025, one thing is clear: buying a condo in Ottawa is still one of the best moves you can make—whether you’re a first-time buyer, an investor, or just tired of paying rent.

Here’s why.

1. The Cost of Renting vs. Owning Is Still in Your Favour

People love to say, “Buying is always better than renting,” but that’s not always true. In some cities, rent is so much lower than a mortgage that it makes sense to stay put as a tenant.

That’s not the case in Ottawa.

Rents have climbed to record highs, and while mortgage rates are still a factor, the gap between renting and owning a condo has narrowed. If you’re paying $2,500/month in rent for a one-bedroom, that’s $30,000 per year gone. In many cases, that’s not far off from what you’d be paying in a mortgage for a comparable unit—except you’re actually building equity instead of funding your landlord’s retirement.

Yes, buying comes with upfront costs (like a down payment and closing fees), but if you’re planning to stay put for at least five years, owning could still work in your favour financially.

2. Condos Offer Low-Maintenance Living in a High-Interest World

A big concern in 2025 is affordability. With interest rates still above pandemic-era lows, freehold homes can feel out of reach.

Condos? They’re often the more affordable entry point into homeownership. Not only do they come with a lower price tag than detached homes, but they also eliminate the surprise maintenance costs that catch homeowners off guard.

• No roof replacements

• No unexpected plumbing disasters

• No weekends spent shoveling snow or mowing the lawn

Instead, condo fees cover these responsibilities, allowing you to budget with more predictability. And as long as you do your research into well-managed buildings, condo fees won’t be the nightmare people love to make them out to be.

3. The Right Buildings Are Holding Their Value (and Then Some)

There was a time when people worried condos wouldn’t appreciate as well as houses. That’s not the case in Ottawa’s best buildings.

Newer, well-located condos with solid management are still seeing steady demand. Why? Because there’s a massive influx of people who need housing—students, young professionals, downsizers, and investors looking for stable long-term returns.

Some of the top buildings in Ottawa have even increased in value faster than freehold homes in the last few years. If you’re smart about where you buy, your investment isn’t just safe—it’s likely to grow.

4. The Urban Shift Is Back—With a Twist

During the peak of remote work, suburban real estate exploded. People wanted space, home offices, and backyards. But now that hybrid work is the norm, living in the city is making a comeback.

That said, it’s not just about any downtown condo. Buyers in 2025 are looking for:

✔ Proximity to transit (with Ottawa’s LRT finally becoming more reliable)
✔ Walkability to restaurants, cafes, and parks
✔ Modern amenities like coworking spaces, fitness centres, and rooftop terraces
✔ Efficient layouts that maximize livable space

The best condo buildings aren’t just places to sleep—they’re places to live. And in a city where single-family homes in walkable neighbourhoods are expensive, condos offer a lifestyle that feels both convenient and financially attainable.

5. The Resale Market Is Gaining Momentum

One of the biggest hesitations people have about buying a condo is resale value. But here’s what’s happening in 2025:

• More buyers are priced out of freehold homes and turning to condos as a permanent option

• Investors are seeing the high rental demand and coming back into the market

• Older buildings with spacious layouts and reasonable condo fees are attracting downsizers

Unlike pre-construction, where delays and unpredictable pricing have made people wary, the resale condo market in Ottawa is seeing solid, steady growth. If you buy a unit that checks the right boxes (good location, well-managed building, reasonable fees), you’ll have no trouble selling it down the road.

Final Thoughts

If you’ve been on the fence about buying a condo in Ottawa, 2025 is shaping up to be a great time to make your move. The rental market is expensive, condos are still relatively affordable, and demand is steady. Plus, the right buildings are proving to be strong long-term investments.

At the end of the day, real estate isn’t just about crunching numbers—it’s about how you want to live. If you love the idea of an urban lifestyle, minimal maintenance, and locking in your housing costs instead of dealing with unpredictable rent hikes, buying a condo might be your best move yet.

And if you need help finding the right one? You know where to find us.

Ottawa Condos Located Near Breweries 2021 Edition

Over the past couple of years, amazing breweries have been popping up all over Ottawa. They have now become the hot spot for happy hours, places to relax on the weekends, or a go-to end of week stop to pick up a new or limited brew that’s being offered.  We are often asked which breweries are nearby when showing buyers. Hopefully, this list helps provide some clarity to the breweries that are located in our top five downtown Ottawa areas! Are we missing any?

Byward Market / Lowertown

Lowertown Brewery
Waller St. Brewing

Click this link to open in Google Maps (on mobile) or fullscreen (desktop)

Centretown

3 Brewers Sparks
Elgin Beer Project
Flora Hall Brewing

Little Italy

Vimy Brewing Company
Beyond the Pale Brewing Company
Mill St Brew Pub
Spark Beer

Click this link to open in Google Maps (on mobile) or fullscreen (desktop)

Hintonburg

Tooth and Nail Brewing Company

Click this link to open in Google Maps (on mobile) or fullscreen (desktop)

Glebe

CRAFT Market Ottawa

Click this link to open in Google Maps (on mobile) or fullscreen (desktop)

Top Condo Buildings In Ottawa That Allow BBQ’s

When searching for the perfect place to call home, trying to find a condo that ticks all of your boxes can be a daunting task. Especially if one of those must-haves is a private bbq on your balcony, which is almost impossible to find in the majority of condo buildings in Ottawa. Over 95% of the condo buildings in the city do not allow gas (or charcoal) bbq’s, shrinking your possible list down quite a bit. Here are the top condo buildings in Ottawa that currently allow gas barbecues on the balcony.

If you want to know the truth behind the lack of buildings that allow it, check out a blog post we wrote back in 2015 that explains it in more detail.

TIP: Looking at a listing and unsure if it allows a barbecue? Look at the stove/range. If it is a gas stove top, then chances are quite high that the builder also had a gas line installed to the balcony. Keep in mind that this does not guarantee that a barbecue is allowed. To confirm, it is always best to have your lawyer check the status certificate. Plus rules will constantly change, so even if you see a barbecue it does not mean that you would be allowed one (it might be grandfathered). As is with any very important “must-have”, communicate this list to both your realtor and lawyer, so that they can both verify you would be able to (this is the same with pets, etc.).

Second Avenue West - 808 Bronson

Built in 2012 by local Ottawa builder Domicile, Second Avenue West has the features that continue to attract buyers to Domicile product. While slightly more traditional than other builders mentioned here, the quality of the work and finishes within the units is quite high. Located at 808 Bronson, Second Avenue West is steps from Dow’s Lake, The Rideau Canal, Preston Street, and The Glebe. Each unit has a natural gas line installed on the balcony.

Studio Argyle - 255 Argyle

Located just off of Bank street directly in Centretown, this hard loft building gets a LOT of attention. Aside from the fact that the condo board allows personal barbecues, the units are very unique with high ceilings and industrial features. Exposed concrete ceilings, brick walls,  ductwork, etc. they are always on the list of someone looking for that hard loft look - IF there is one available. There are only 40 units over the five floors, which makes units very hard to find, especially at a decent price.

SOBA - 203 Catherine Street

Built in 2019, SoBa is the latest project from the Toronto developer Brad Lamb. Lamb brings the Toronto design to Ottawa, with modern features and finishes at an attractive price. Views from the building are jaw dropping in every direction. Located at 203 Catherine, just off of Bank street, and sandwiched in between Centretown and the Glebe. Each unit has a gas stove top inside, and natural gas line installed on the balcony.

Gotham - 224 Lyon

Gotham was Brad Lamb’s first building in Ottawa, which was completed in 2015. Located on Lyon at Gloucester, it is a short walk to the downtown core, and a block from Bank street. The building has a multitude of living options including two-storey lofthouses, single-level lofts, glasshouses, and stunning penthouses. Each unit has a gas stove top in the kitchen, and natural gas line installed on the balcony.

Merrion Square - The Radcliffe and The Norfolk - 327 Breezehill and 330 Loretta

Built by Domicile in 2010 and 2011, both of these buildings are part of Merrion Square, which is a collection of condos and homes. Located just off Carling, the buildings are located steps from Little Italy, Dow’s Lake, The Rideau Canal, and The Ottawa Hospital Civic site. Each unit features a natural gas line installed on the balcony.

One3One - 131 Holland

Domicile built One3One in 2013, which comprises of 191 units over nine floors. The building is located on Holland just steps from Wellington Street, putting you in a “walkers paradise” and providing you with the best of everything that Hintonburg has to offer. Each unit has a natural gas line on the balcony for your private bbq.

The Kavanaugh - 7 Marquette

Completed in 2015, The Kavanaugh is a beautiful building located in the heart of New Edinburgh. A short commute to the office, and access to the thriving amenities and lifestyle that Beechwood provides. There are only 124 units over 10 floors, again making the perfect units hard to find. There are some stunning views of the city, especially from higher floors where you can watch the sunset over downtown. Each unit has a natural gas line on the balcony.

The Corners On Main - 11 des Oblats Avenue and 166 Main Street

Domiciles latest project which has lately sold the last available unit, is located in Old Ottawa East. A somewhat “new” area to many unfamiliar buyers, adding a great neighbourhood to the possibilities list. It is very easy to commute to the city core, while not being located right in the busy mix of Centretown. You have the river on one side, and the Rideau Canal on the other. A short walk over the pedestrian bridge and you are at Lansdowne Park and The Glebe. Also a very easy commute to the Ottawa Hospital General (and Riverside) campus, CHEO, and UofO Medical School. Many owners will easily say its the best location in the city. The two buildings contain 74 and 64 units over six floors each. Each unit has a natural gas line to the balcony for a private BBQ!

Looking for help to find the perfect condo? Let’s chat! Fill out the form at the bottom of the page.

How To Find The Perfect Condo When The Market Supply Is Low?

The 2019 condo market is great if you are a seller, but not that great if you are trying to buy. One of the largest issues buyers are facing right now when searching for a condo in Ottawa, is a lack of supply - there are no good condos to buy (at a decent price)! Talk about a first world problem!

When supply is low, there are a bunch of ways that a great agent can help find buyers a property. We put together a list of methods that we use with our buyer’s to find that perfect un-listed/hidden/secret condo.

Working with an agent who focuses on the specific area or building. 

This should go without saying, but if you are looking to get a difficult to find property (aka a condo), working with an agent who focuses on that type of property, or even in the specific building will give you a major head start. Why hire a plumber to do your electrical work? We often have sellers who are 2-3 months away from selling, or getting ready to list next week. Our job is to keep our “ear’s to the ground”!

Peer Networking

One of the best ways I find off market condo’s is by chatting with other agents. In this market I spend more time asking other agents what they have coming up, and letting agents know what I have before a property hits the market. Even getting an extra day notice before a property is listed, gives you the buyer a huge advantage in this market. Having focused on condo’s for such a long period, I receive a high number of other agents letting me know what they have coming up.

Off Market Builder Supply

Typically builders will only list a few units in a building, even if they have a bunch of available condos, as they don’t want to overwhelm a buyer. Often builders won’t tell buyers or other agents that they are able to be purchased. Earlier this year, we had a builder that had condo with cosmetic damage and was not being shown or advertised. However since we had a great relationship with the builder, we were able to sell it to our buyer. Our buyer loved not being under pressure from other buyers trying to compete for the same unit. No bidding wars!!

Looking Outside Your Budget

While this is normally discouraged, it has provided us with options when times were tough! In this market it is common to see sellers get extremely confident with their pricing and list way over market value. A unit that should be $350,000 but is listed for $390,000 might miss your search if you set your max budget to $375,000. A few months or even weeks on the market, and they might be willing to accept a decent offer of market value. 

Parking?

Finding a unit that includes parking can often be a huge restriction when searching, depending on the price point. Not every seller originally purchased parking and that can really cut your options down if you MUST have one. We have seen property matches drop by half - or even more! Ask yourself if you really NEED parking? Could you rent a parking spot? I have helped many buyers who have decided it was a better option for them to rent a spot in the building for $150 per month than pay $35,000 upfront plus another $80 per month in extra condo fees. While this isn’t a solution for everyone, knowing these options that you have can make a huge difference.

Consider Renting?

While you won’t hear many agents try to convince you away from buying, sometimes renting is the smarter idea - at least temporarily. We all have those friends who have bought something since it was the only option versus waiting for the right option, and regretted it shortly after. If you don’t love it, then don’t buy it! That being said, renting in this market is almost as difficult, if not worse - but at least you’re not tied to a $400k mortgage.

Need help finding a condo? If you are not already working with another agent, we would love to help. Fill out the form below, or call/txt directly 613-286-9501.

What Condominium Buildings Are Close To Shopify? 2019 Edition

Established in 2004, Shopify has become one of Ottawa’s top employers. Seeing so much growth over the past several years, the company has now has two addresses in Ottawa; 234 Laurier Ave and 150 Elgin St. Everyday new positions are opening up at these two locations that the desire to live close to work is a top priority for new employees.

Are you a current or future employee of Shopify? If so, we put this guide together to help you decide which condo buildings you should be considering. We have narrowed down the top five buildings that are in less than a 10 minute walking distance to both Shopify locations and have the fresh contemporary look and vibe you want to have. Plus, all of these options have units available for both buying, or renting.

We have helped Shopify employees find a home in each of these buildings below - need help finding a place to live? Fill out the form at the bottom and let’s chat.

179 Metcalfe St and 40 Nepean St
Tribeca Phase One and Tribeca East

The Tribeca’s were built by Claridge Homes in 2014 and 2015. 179 Metcalfe (phase 1) contains 260 units that includes studios, one, and two bedroom units that range in size from 460sqft to 1145sqft. 40 Nepean St contains 179 that also include studio or one and two bedroom units. Both buildings feature spacious units with floor to ceiling windows that flood the space with natural light, high ceilings, and open concept living spaces.The amenities at both these buildings include a concierge, board room, party room, indoor pool, fitness centre, guest suites, bicycle storage, storage lockers, and underground parking. The Tribeca’s are within a 4 minute walking distance from both the Shopify Laurier Ave location and the Elgin St location. Hard to beat the location. Why we love them? Aside from their great location, you can find a Sobey’s (soon to be Farmboy) grocery store in the buildings podium (which also includes wine and beer sales!).

324 Laurier Ave - The Mondrian

The Mondrian was built by Urban Capital in 2008 and contains 250 one, two bedroom units (there are a couple studio units but rare) that range in size from 472sqft to 1600sqft. The units feature 9 foot ceilings, open concept living spaces, and floor to ceiling windows. All of the amenities are located on the 6th floor - which include the outdoor saltwater pool, bbq and dining area, gym, lounge/party room. Pets are also allowed in this building. The Laurier location is a short 4 minute walk from The Mondrian and the Elgin location is 7 minutes. Why we love The Mondrian? Shoppers Drug Mart is located in the podium of the building, bike paths located at the front door which allows quick and easy way to get to the office, real concierge in the building, and most units are of a good size. The building is easy to spot from the street with the solid red glass panels - an ode to french painter Piet Mondrian who the building was named after.

199 Slater St - The Slater

Built by Broccolini in 2017, The Slater contains a total of 179 studio, one, and two bedroom units. These units range in size from 1442sqft to 1929sqft and feature European kitchens, 9 foot ceilings, floor to ceiling windows, and modern barn style bedroom doors. Amenities at The Slater include a party room, theatre room, fitness centre, hot tub, storage lockers, concierge, underground parking, and also allow pets under 40 pounds. The walking distance to the Elgin St location is 7 minutes and only 3 minutes to the Laurier Location. Why we love The Slater? Aside from the higher level of quality finishes, the building also has a minimum lease term of only two nights. This means that you would be able to use the property as an short term investment (such as AirBnb) if you are traveling, or gone for an extended period of time.

300 Lisgar St - SOHO Lisgar

Built by Mastercraft Starwood in 2013, SOHO Lisgar contains a total of 169 one and two bedroom units that range in size from 522sqft to 1032sqft. These units feature gleaming hardwood flooring, marble bathrooms, European appliances, and floor to ceiling wall to wall windows. Amenities at SOHO Lisgar include a concierge, outdoor pool with loungers, outdoor BBQ, party room, theatre room, hot tub, board room, fitness room, sauna, bicycle storage, storage lockers, and underground parking. Pets are also allowed in this building. The Laurier location is a short 5 minute walk and the Elgin location is 8 minutes. Why we love SOHO Lisgar? The design is timeless, location is great, plus the amenities are stunning.

Too close? Want to live a little further out?

Don’t want to live that close to the office? We have also narrowed down 6 buildings that are modern, still close… but not tooo close.

224 Lyon St - Gotham

Built by Lamb Developments in 2016, this statuesque building features a total of 251 studio, one, or two bedroom units, that range in size from 424sqft to 1445sqft. These units feature hardwood flooring, exposed concrete ceilings and accent walls, floor to ceiling windows, and open concept living spaces. Amenities at Gotham include concierge, outdoor BBQ and dining area, party room, BBQ hookup on the balcony, bicycle storage, storage lockers, underground parking, and pets are also allowed. Gotham is a 13 minute walk to the Elgin Shopify location and a 10 minute walk to the Laurier location. Why we love Gotham? Aside from the modern finishes (exposed concrete), Gotham is the only building on this list that allows you to have your own BBQ on your balcony (gas hookup on the balcony), plus gas stoves in the unit.

255 Bay St - The Bowery

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The Bowery was built by Richcraft in 2017 and contains a total of 248 studio, one bedroom, two bedroom, or two storey units, that range in size from 375sqft to 945sqft. The spacious units feature hardwood flooring, sleek kitchens with granite counter tops, and large windows flooding the living space with natural light. Amenities at The Bowery include a rooftop pool, outdoor BBQ and dining area, party room, yoga centre, fitness centre, concierge, guest suites, storage lockers, underground parking. This building also allows pets. The Bowery is a 15 minute walk to the Elgin location and 11 minutes to the Laurier location. Why we love The Bowery? The amenities are beautiful. Indoor rooftop pool, gym, lounge, dining room, they are hard to beat.

354 Gladstone Ave and 349 Mcleod St
Central Condo Phase 1

Central Condo Phase one was built by Urban Capital in 2012 and is comprised of 240 one and two bedroom units that range in size from 478sqft to 1117sqft. These stunning industrial style units feature gleaming hardwood flooring, 9 foot concrete ceilings, exposed concrete pillars and ductwork, and floor to ceiling windows. The amenities are shared between the two buildings and include a concierge, dining room, fitness centre, party room, and recreation centre. Central Condo Phase One is within a 13 minute walk to the Laurier location and 16 minutes to the Elgin location.

360 Mcleod and 340 Mcleod st
Central Condos Phase 2 and Hideaway

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Built by Urban Capital in 2014 and 2015, these two buildings contain 328 studio, one or two bedroom units that range in size from 435sqft to 863sqft. These urban-style units feature 10 foot exposed concrete ceilings, exposed ductwork and modern sliding bedroom doors. The amenities are shared between the two buildings and feature a party room with full kitchen and pool table and private terrace with outdoor BBQ. There is also a resort style outdoor pool with private cabanas and poolside fireplace. Both buildings are a 15 minute walk from the Laurier location and 18 minutes to the Elgin location.

Also in walking distance to these condominium buildings is a Sobeys Urban Fresh, Independent Grocer, Shoppers Drug Mart, LCBO, several coffee shops, five star restaurants, and so much more.

Are you a Shopify employee who is new to Ottawa, trying to sort out where the best place to live is? Unsure and want help? Let’s chat! Fill out the form at the bottom of the page, txt/call 613-286-9501, or email Matt@mattrichling.com

First Time Home Buyers Incentive - Full Details Announced

Earlier this year, the government announced a plan to help first time home buyers enter the market and help reduce their monthly mortgage carrying costs. There was no in depth information provided, and a large amount of speculation about what exactly it could include or who would be eligible.

This week, the government provided all of the details. Launching September 2nd, 2019, the first time home buyer plan is aimed at providing a 5% or 10% shared equity mortgage with the Government, which will act as part of the deposit.

More in-depth
- Total qualifying income must be no more than $120,000 and your total borrowing is limited to four times the qualifying income.
- At least one of the persons on title must be a first-time buyer (keep in mind this is also valid for those who did not own within 4 years)
- Total borrowing (including the incentive amount) is limited to four times the qualifying income.
- The incentive will be a second mortgage that is registered on the title of the property.
- There will be no regular principal payments, it is not interest bearing, and a maximum term of 25 years.
- The incentive is offered at 5% or 10% for a new construction home or condo, or only 5% for a existing re-sale home or condo.
- Property must close on or after November 1st, 2019
- Property can be a 1-4 unit residential property (hello investors), and must be available for full-time, year-round occupancy (no cottages).
- The first time buyer will be required to repay the incentive after 25 years or when the property is sold (or sooner without penalty). Refinancing will not trigger re-payment.
- Repayment is calculated at property’s fair market value at time of re-payment. If you took a 5% incentive, you would pay back 5% of the homes value at the time of repayment.

Example

Olivia wants to buy a new condo for $400,000.

Under this incentive, Olivia can apply to receive $40,000 in a shared equity mortgage (10% of the cost). This is on top of the minimum required downpayment of 5% ($20,000) that she must provide from her savings.

This lowers her monthly expenses, and the amount that she is borrowing. As a result, Olivias mortgage is now reduced by $228 less per month or $2,736 a year.

When Olivia sells her home for $420,000 she would have to pay back the incentive of 10% which is now $42,000.

Do we like it?
This is a great tool for someone who wants to lower their monthly carrying costs. It might not be a great tool for someone in a larger market with higher average prices. Every situation is different and even if you qualify, this might not be a good fit.

Do you have questions about if the new first time home buying incentive is a good fit for you? Let’s chat. Call, txt, email, or fill out the form below.

THE Buyers Guide To Condo Assignments In Ottawa

If you are hunting for a condo in Ottawa, you might hear the term assignment, or that a condo is being sold as an “assignment”. While not a typical transaction, purchasing a condo assignment can be a lucrative way to get a great deal, or into a hot building that has no remaining inventory.

What is an assignment?

An assignment is a transfer by the original purchaser (the Assignor) of the original Agreement of Purchase and Sale (APS) to the new purchaser (the Assignee). This means that they are not selling or buying the actual condo, but rather they are selling or buying their interest in the deal. The new buyer (Assignee) is buying the ability to become the Assignor (original buyer). You often hear assignments referred to as selling “paper” or selling the deal. These can happen for any transaction, however in real estate the majority of times it is for either land assembly (buying numerous lots to create one large one - ie for building a condo development), or for single pre-construction condominiums. In Ottawa, it is rare for people to sell an assignment for a residential freehold (house) simply due to the lead time (only takes 6 months to build a house).

Why do condo assignments occur?

Condominium assignments typically occur for a few reasons. The first thing to remember is that condo units were typically first sold three to four years (or even longer) before the buyer could move in. Often, the original purchasers have had a change in circumstance and no longer want to continue with the purchase. a.k.a. partners, babies, pets, jobs, income, etc. The second reason we see often is that the original purchaser was a speculator who purchased with the intention of assigning the contract to profit from the increase in price or value.

Why can it make sense to purchase an assignment?

Hot building? Purchasing a condo assignment is a way to purchase a condo in a building that has no available inventory. It also is typically cheaper than purchasing the unit once the building has been registered and units are listed for resale. PLUS We have seen assignments that are priced lower than the similar unit that is available from the builder in the same project.

Plus you still have the benefits of buying brand new, such as being eligible for Tarion warranty program, pre-delivery inspections, etc. Compared to re-sale where you might have missed these opportunities.

Important things to know when looking to buy a condo assignment

1. You are buying a pre-construction condo and are taking on all of the risks. Delays, changes to occupancy, changes to the building, or even projects that flop and could be canceled. This also includes any interim occupancy payments. While it is the same risk as buying directly from the builder it is important to take note.

2. The original Agreement of Purchase and Sale (APS). When you are buying an assignment, you are replacing the original buyer, and you are taking on all of the terms, conditions, and obligations, that the original buyer agreed to. You are now fully responsible for the purchase. This can include terms that the original buyer might not have cared about, but they might matter to you. It is not possible to renegotiate the terms with the builder.

3. Builder Adjustments or Development Costs. In the original APS it will mention (often clause 6) the adjustments that will be charged by the builder on top of the purchase price. This is no different from buying directly from the builder, but not something you would deal with for a resale property. Usually, these can include development charges, education levies, park levies, initial contribution to the reserve fund, Tarion enrollment, HST on chattels, law society levy, builders solicitors confirmation of deposit letters, etc. These closing costs can easily amount to 1-3% of the original purchase price.

4. Capped Builder Adjustments. Often when purchasing a pre-construction condo from a builder you are able to negotiate and have the builders' adjustments capped (ex $5,000 or $10,000). It is important to know if the original purchaser had negotiated this. While it might seem like a no-brainer, most buyers are not aware it is possible and don’t even ask. Be aware that the cap might not be applicable to the assignee. Every deal and builder is different and this is constantly changing.

5. Deposit. Typically the original buyer (assignor) is looking to mirror the deposit that they have given to the builder. This can be 15% or 20%, which is held in trust until closing. Compared to a re-sale purchase where it can be significantly less. This often rules out assignments for buyers with a smaller downpayment. While this is negotiable between the Assignor and Assignee, it is standard and not typically lower than the original deposit amount.

6. Finishes and Upgrades. Depending on how far along you purchase the assignment, you might not be able to choose the finishes or any upgrades. If they have already been chosen, make sure you like what the Assignor picked out!

7. HST. HST with pre-construction condos can be a complicated beast. Every project can be different, however, it is up to the developer whether to give the HST rebate or have you apply directly to CRA. If the developer believes (or if the original purchaser said it would be for an investment), you will have to pay the HST on closing (and can apply for the rebate after).

8. Closing Costs. The closing costs can be slightly higher compared to a resale property. Legal fees are often higher since the deal is involving two transactions (acquiring the assignment, and the actual closing). Your lawyer should be able to break down the cost in advance.

9. Builder Approval. Every assignment is conditional upon the builder allowing the assignment to happen. Before the assignment is advertised, the assignor will ask the builder for permission. Many builders will not allow their original purchasers the ability to assign contracts. We have seen original APS that state that assignments are allowed, but then a schedule which declares they are not allowed! PLUS if the Assignor is given permission from the builder, there is typically a fee to allow them. We have seen this fee up to $7,000 plus the builder's legal fees of $2,000. While negotiable, this fee is typically the responsibility of the Assignor.

10. Your Team. Have the best team of professionals standing with you to make the purchase. Your lawyer and REALTOR should be experts.

Real estate transactions are complicated to begin with. On an average builder Agreement of Purchase and Sale there can be hundreds of clauses, dozens of schedules, and an endless amount of lawyer talk. The assignment process is more complicated and tricky, using paperwork, terms, and conditions, that doesn’t look anything like the usual APS for a resale condo. When you are looking at purchasing an assignment make sure you have a professional REALTOR well versed with condo assignments who can walk you through the entire process and ensure that you are well protected. If you are looking at buying a condo assignment in Ottawa, fill out the form below to chat!