Condo vs Freehold

Owning a unit with shared elements versus owning the whole property.

Freehold ownership means you own the property and the land and are responsible for all of it. Condominium ownership means you own your unit plus a share of the common elements, and you pay monthly condo fees to a corporation that maintains them and enforces rules. Condos trade some control and a recurring fee for less hands-on maintenance; freeholds trade convenience for full responsibility. The right fit depends on how much you want to manage yourself.

General information only, not legal, tax, or financial advice. Rules change and vary by province; confirm the current details with the relevant authority before you rely on them.