What is the property tax?
Although, these suites have not been assessed. It is fair to say that the property taxes will be estimated about 1.3 percent of the assessed value.
What will I require when it comes to insurance on my suite?
A building insurance policy typically will cover common areas, such as the structure, lobby and elevators, but does not cover an owner’s personal belongings. Condominium insurance requirements vary across Canada. You should consult the provincial condominium legislation, your condominium’s governing documents as well as a condominium insurance specialist to ensure sufficient coverage.
Will I be allowed to do any upgrades on my own or hire my own subcontract to work on my suite?
No, Due to liability issues, any customization must be performed after the suite has been sold and the owner has legally closed. At that time, the owner may customize the suite provided doing so complies with guidelines established in the Condominium Corporation and with the express written permission of the Condominium’s Board of Directors, as per [...]
What can or can’t I do inside of my own suite with regards to changes once I’ve taken ownership?
Any décor changes are permitted that do not require structural changes.
After the building is complete and I have purchased my suite, will there be any restrictions when selling my condo to someone else?
Yes, once the Suite has been closed and you have received Title, you may choose to sell your suite.