WHY IS IT DIFFERENT

A Condominium is actually a legal definition that refers to the method of ownership, not the type of building.

Any type of home - including suites in low rise or high rise towers or townhomes - can be a condominium.

When you buy a condominium, you own the interior space of your home outright. Then you and all the other homeowners in your condominium community jointly own all the other physical and mechanical structures, from the hallways and elevators to the recreational facilities and the outside grounds. These are for the shared use of all owners and are called "common elements". Your balcony or patio is also considered a common element, but it's what's known as an exclusive use common element. This means only you can use it, but the maintenance is not your responsibility.

Click here to learn more about maintenance fees. Check our Glossary for a list of terms relevant Condominium living. If you have questions regarding purchasing a condo, you can check our Frequently Asked Questions section, call us at 416-661-9394, email us at ask@tridel.com.