Condo Buyers' Guide
In the market for a condo in Ontario? Our in-depth guide will prepare you with all the information you need before putting in an offer. Learn what to ask, what documents to review and the fundamentals of condo ownership.
About the guide
The Condo Buyers’ Guide was developed by the Condo Authority with the Ministry of Public and Business Services Delivery as a helpful resource for buyers considering a pre-construction or residential condo unit.
Developers or landowners must provide this guide to all condo buyers, who in turn have a 10-day cooling off period in which to rescind the agreement of purchase and sale of their condo. This 10 day period starts from the moment buyers have the purchase agreement, disclosure statement and this guide.
Buying a condo
One of the most important steps you can take before you buy is to educate yourself and get the help you need to make an informed decision. The first part of the guide covers the following topics:
- Before you buy a condo unit
- Buying a pre-construction condo unit
- Buying a resale condo unit
- Leasing your unit
Moving into a pre-construction condo
Buying a pre-construction condo isn’t as straightforward as buying a resale condo. Learn what the difference is and the information to protect you:
- Interim occupancy
- Creating the condo corporation
- Tarion and the Ontario New Home Warranties Plan Act
Learn how condos work, the role of a condo corporation and your rights and responsibilities as an owner.
- Introduction to condo living
- Condo governance
- Condo corporation governing documents
- Condo finances
- Living in units and common elements
- Condo management
Resources for resolving issues
Many common issues can arise when you live in a condo community, from noise to harassment. This part of the guide contains information about:
- Raising issues with your condo board
- Compliance and enforcement mechanisms
- The role of the Condo Authority and the Condominium Management Regulatory Authority of Ontario