What Do Condo Fees Cover in Stoney Creek and Hamilton?
The monthly fee is the most misunderstood number on a condo listing. Buyers in Stoney Creek and Hamilton often rule out a building because the fee looks high, or choose one because it looks low. Both can be mistakes.
This guide explains what the fee pays for, why two fees can't be compared directly, and what to check before you make an offer.
What condo fees pay for
In Ontario, condo fees are officially called common expenses. They pay to maintain the shared parts of the building, such as the parking garage, hallways, lobby and elevators, and they build up the building's reserve fund.
In practice the money goes to three things:
- Running the building. Cleaning, snow removal, landscaping, the property manager and the building's insurance.
- Saving for major repairs. Part of every fee goes into the reserve fund, which pays for the roof, windows, elevators and garage when they need work.
- Sometimes utilities. Some buildings include heat or water, and a few include hydro and cable. Many newer buildings include none.
Why you can't compare two fees at face value
What the fee includes changes from building to building, even within Stoney Creek.
Recent MLS listings show the difference. At The Shoreliner (500 Green Road) and The Bayliner (301 Frances Avenue), both older lakefront towers, the fee includes heat, hydro, water and cable. At Waterfront Trails (35 Southshore Crescent) it includes heat and water, but not hydro. At Sapphire (101 Shoreview Place) it includes heat, but not hydro or water. Inclusions can change, so confirm them for any unit you are considering.
So the fair comparison is the total monthly cost: the fee plus whatever utilities you pay yourself. A higher fee that covers everything can cost less than a lower fee that covers nothing.
If you are comparing options, start with the condos for sale in Stoney Creek and check the inclusions on each listing.
How your share is worked out
Each owner pays a share of the building's costs based on the unit's size, plus any parking space and locker. A larger unit pays a larger fee in the same building.
That is why fee per square foot is more useful than the fee alone. A 1,200 square foot unit will always look expensive next to a 550 square foot one.
What condo fees don't cover
- Your mortgage payment
- Property tax, which is billed to you separately
- Insurance for your own unit, belongings and upgrades
- Repairs inside your unit, such as appliances and flooring
- Any utility the building does not include
- Special assessments, which are one-time charges on top of the fee
Our guide to how much house you can afford shows how these costs fit into a budget.
What the fee's history tells you
A fee that rises a little each year is normal. Costs go up, and a well-run board adjusts for them.
The pattern to watch for is several years with no increase, followed by a jump. It usually means the building was not saving enough. A fee well below similar buildings can point to the same problem.
You don't have to guess. Ontario buildings must update their reserve fund study at least every three years, and the status certificate shows the fee, the reserve fund balance and any increase the board already knows about. A building can charge up to $100 for the certificate and has 10 days to provide it.
Who a higher-fee building suits, and who it doesn't
A higher fee with utilities included suits buyers who want predictable monthly costs and use the amenities. Many downsizers fall into this group.
It is a poor fit if you are buying at the top of your budget. Lenders typically count half of the condo fee when they work out how much you can borrow, so a high fee reduces the mortgage you qualify for.
A lower fee in a newer building suits buyers who want smaller fixed costs and are comfortable paying their own utilities. It is a poor fit if you want space, a pool or a workshop.
Browse condos for sale
New to the area? Our Stoney Creek community guide covers the neighbourhoods, and our buyers page explains how we work.
Frequently Asked Questions
What is the average condo fee in Stoney Creek?
There is no single useful average, because fees depend on the unit's size and on what the building includes. Compare fee per square foot and inclusions instead.
Do condo fees include property tax?
No. Property tax is billed to each owner separately by the City of Hamilton.
Do condo fees go up every year?
Usually, by a modest amount. The board sets a new budget each year, and the fee follows it.
Can I negotiate the condo fee?
No. The fee is set by the building's budget and your unit's share of it. What you can negotiate is the purchase price.
What happens if the reserve fund runs short?
The building raises fees, charges a special assessment, or both. A special assessment is a one-time bill split between owners using the same percentages as the monthly fee.
Have a question about a specific building? Get in touch and we will find out what its fee covers before you book a showing.
This guide is general information, not legal or financial advice. Have a lawyer review the status certificate before you buy.