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Condominiums are a popular entry point into Calgary real estate. They offer affordability compared to detached homes, less maintenance, and a chance to live close to the city’s best restaurants, shops, and CTrain access.
But they also come with challenges that many first time buyers don’t see until it’s too late, from steep condo fees to restrictive bylaws and even surprise cash calls.
As a licensed Calgary realtor since 2012, I’ve helped countless clients navigate both the upsides and downsides of condos. In this guide, I’ll walk you through the full picture, when condos make sense, what risks to watch out for, and how to make the smartest choice for your budget and lifestyle.
Why Consider a Condo in Calgary?
Even though I often caution buyers about condo ownership, I’ll be the first to say that condos can make sense for the right buyer.
Advantages I’ve seen for clients include:
- Lower price entry point compared to detached homes, making them accessible to first time buyers.
- Convenience: Exterior maintenance, snow removal, and landscaping are handled by the condo board.
- Location: Many are within walking distance of downtown and urban areas, CTrain stations, shopping centres, and restaurants.
- Amenities: Fitness centres, pools, security, and community spaces can add value that detached homes rarely provide.
That said, the benefits only matter if the numbers and restrictions work for your long term goals.
The Reality of Condo Fees in Calgary
Condo fees are one of the biggest drawbacks. In Calgary, it’s becoming common to see one bedroom units under 750 sq. ft. carrying fees of $600–$750 per month. By comparison, utilities for a detached home may only cost $300–$400.
Why are fees so high?
- Rising insurance premiums across Alberta
- Inflation in building materials and repairs
- Higher wages for tradespeople and maintenance staff
- Energy costs for heating underground parkades and common areas
For buyers, the real issue is how these fees impact mortgage approval. Lenders count condo fees as debt, which means a $700 monthly fee could reduce your buying power by tens of thousands of dollars.
Rules and Restrictions
Condo ownership also means less freedom. Boards can enforce bylaws on:
- Pets: Breed restrictions, size limits, or even no-pet policies.
- Age restrictions: Some complexes are 18+ or 50+.
- Balcony use: No smoking, no tire storage, no clutter.
- Renovations: Approval often needed for changes and upgrades
- Bareland condos: Landscaping and exterior décor may require board approval.
These restrictions can frustrate buyers used to single family homes. One client of mine fell in love with a unit, only to discover their large dog wasn’t permitted and had to send a non waiver cratering the transaction.
Special Assessments: The Hidden Risk
Even with high fees, buildings sometimes run short of funds. That’s when special assessments, essentially cash calls come into play.
I’ve seen assessments as small as $1,000 per unit for upgrades, but also ones as large as $40,000 per unit to fix major structural issues. These can cause financial strain.
Pro Tip: Review the reserve fund study and all condo documents with a specialist. If the fund is undercapitalized, you may be buying into a future cash call.
Noise, Privacy, and Build Quality
Many Calgary condos under four stories are wood frame, which usually means thinner walls and less soundproofing.
Buyers often complain about:
- Hearing footsteps from above
- Barking dogs
- Balcony conversations carrying indoors
- Strong cooking smells in hallways
Higher end concrete builds reduce this issue, but they’re more expensive.
Calgary Neighbourhoods with Great Condos
If a condo does make sense for your lifestyle, certain Calgary neighbourhoods consistently attract buyers:
- Downtown & Beltline: Walkability, nightlife, and proximity to offices.
- Mission & Kensington: Trendy, lifestyle driven areas with cafés, shops, and river pathways.
- University District & Brentwood: Strong rental demand near schools and hospitals.
- Seton & Mahogany: Newer southeast developments with hospitals, shopping, and lake access.
Financial Considerations: Condo vs House
Affordability is often the deciding factor. Entry level condos may start in the low $200,000s, while detached homes are often $600,000+.
But fees change the math. For example:
- A 700 sq. ft. condo at $350,000 with $500 or more in monthly fees may not qualify you for as much financing as…
- A $450,000 townhouse with lower condo fees and even sometimes without a monthly condo fee.
Condos in Calgary haven’t appreciated too much in value over the last decade. For many clients, stretching for a townhouse makes more sense long term.
Resale and Appreciation
Since 2012, Calgary’s condo market has generally lagged behind detached homes. Aside from a brief seller’s market during COVID, condos have been slower to sell and slower to appreciate.
If resale matters to you:
- Choose top floor or corner units with better views
- Avoid units facing busy roads, dumpsters, or above parkade entrances
- Look for complexes with a great location close to many amenities
- Parking, storage, good amenities, 2 bedrooms, great layouts
Lifestyle Benefits of Calgary Condos
For the right person, the lifestyle perks outweigh the risks:
- Lock-and-leave living: Great for frequent travellers.
- Walkability: Steps from restaurants, events, and CTrain stations.
- Community vibe: Shared amenities and spaces make it easier to meet people.
- Modern amenities: Newer builds offer energy efficient designs, gyms, and social spaces.
Financing and Insurance Challenges
Financing condos can be harder than detached homes. Some lenders and insurers flag specific buildings due to:
- Structural concerns like post tension cables
- Age restrictions
- Poor reserve funds
- Past litigation
If your lender won’t approve the building, your deal can collapse. This is why working with an experienced mortgage partner is critical.
What to Watch For Before Buying a Condo
Before signing, always check:
- Condo documents (bylaws, budgets, reserve fund studies)
- Age of the building and upcoming repairs
- Insurance coverage and what’s included
- Bylaws for pets, rentals, and renovations
- Unit positioning (avoid below grade, busy roads, etc)
- Parking (titled underground > assigned)
- Storage availability
FAQs
Are condo fees too high in Calgary?
Yes, fees of $500–$700 are common and reduce buying power.
Do condos appreciate in Calgary?
Not as fast as detached homes. Better for lifestyle buyers than investors.
Which neighbourhoods have the most condos?
Beltline, Downtown, Mission, Cliff Bungalow, Erlton, Bridgeland, Hillhurst, Bankview, but you can find condos throughout the city.
Do condos include parking?
Most include parkades and underground stalls, but occasionally there are units without a stall.
In Summary, Is It Worth It To Buy A Condo In Calgary
So, should you buy a condo in Calgary? The answer depends on your budget, lifestyle, and long term goals. Condos offer affordability, convenience, and prime locations, but they also bring high fees, restrictive rules, and slower appreciation.
If you’re considering a condo, get expert guidance before making a move. It’s important to work with someone who fully understands the condo buying and selling process, and can help you throughout the entire process.
How To Get Help Or More Information
- 📞 Call/Text: (403) 471-4212
- 📧 Email: ryan@ryangillard.ca
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- 🗂 Buyer’s Guide
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- 💰 Compare Calgary Mortgage Rates
- ✅ 10 Things to Check Before Buying a Condo