Buying your first condo or townhouse in Calgary

A condominium or townhouse is often the first home people buy in Calgary. When you buy one, you are buying a unit and a share of a corporation that owns and looks after everything else: the roof, the hallways, the parking garage, the grounds. Understanding how that corporation is run, and how well it is funded, matters as much as the unit itself.

What condo fees pay for

Under Alberta's Condominium Property Act, the board sets contributions, usually called condo fees, for the operating account and the reserve fund. Each unit's share is normally based on its unit factor. The Centre for Public Legal Education Alberta (CPLEA) lists the usual operating costs: insurance, utilities, property management, landscaping and snow removal, cleaning and maintenance, and professional fees. Buildings with more amenities tend to have higher fees. Unpaid contributions stay with the unit, so a buyer can inherit a previous owner's arrears, which is one reason the estoppel certificate, described below, matters.

Reserve funds and special levies

Every Alberta condominium corporation must keep a reserve fund for major repairs and replacements that do not happen every year. A qualified provider prepares a reserve fund study, which looks at least 30 years ahead, and the board then approves a reserve fund plan. The Province requires a new study at least every five years. If money runs short, the board can approve a special levy, and owners must pay it. CPLEA suggests watching for a reserve fund plan that does not follow its report's recommendations, a fund that looks under-funded, or a history of special levies.

Reading the condo documents

An owner, buyer or their lawyer can request the corporation's documents in writing, and the corporation must provide them within 10 days. The list set out in the Condominium Property Regulation includes the bylaws and rules, budget and financial statements, meeting minutes, insurance certificates, engineering reports, and the reserve fund study and plan. An estoppel certificate confirms the unit's fees and any arrears. The Regulation caps what corporations can charge, for example $200 for an estoppel certificate. The Alberta Real Estate Association notes that reviewing these documents is the buyer's responsibility, and that a REALTOR® is not qualified to advise on their contents. Many buyers make their offer conditional on a professional condo document review.

Townhouses: conventional or bare land

Some townhouses are conventional condominiums, where the corporation looks after the buildings. Others are bare land condominiums, where only the land is divided into units and each owner is usually responsible for their own house. Bare land fees are often lower, but the owner takes on more of the upkeep. The Alberta Real Estate Association notes that its standard contracts call for a Real Property Report on bare land condominium sales.

Insurance, pets and rentals

The corporation insures the buildings to a standard insurable unit description. Upgrades beyond that, your belongings and your liability are yours to insure, and the corporation can recover its deductible, up to $50,000, from an owner when damage starts in their unit. Ask your insurer about deductible coverage. Read the bylaws for rules on pets, parking and renting your unit. Since April 1, 2026, Alberta's Condominium Dispute Resolution Tribunal has handled some disputes, including access to condo documents.

Down payment and first-time buyer programs

Federally, the minimum down payment is 5 per cent on the first $500,000 of the purchase price, with 10 per cent on the portion above that, and mortgage loan insurance is typically required with less than 20 per cent down. The First Home Savings Account and the Home Buyers' Plan can help first-time buyers save. The rules change, so check the details on canada.ca or with your financial institution. If you are thinking about a first condo or townhouse, Rob is glad to walk you through the process from the first viewing to possession day.