Buying a condo in Ottawa is exciting, but it’s also one of the biggest financial decisions you’ll make. And while condos can be a smart investment—whether for living or renting—there are plenty of ways to get it wrong.
I’ve seen buyers make the same mistakes over and over again, and in 2025, with the market shifting, avoiding these pitfalls is more important than ever. If you’re thinking about buying a condo, here’s what NOT to do.
Mistake #1: Assuming the Lowest Condo Fees Are the Best
No one loves paying condo fees. But if you’re filtering your search by “lowest fees first,” you might be setting yourself up for a financial nightmare.
Here’s why:
Low fees don’t always mean low costs. If a building isn’t collecting enough in fees, it may not have enough money for maintenance, meaning surprise special assessments (aka sudden bills to cover repairs).
Newer buildings often start with artificially low fees. Developers set them low to attract buyers, but within a few years, they almost always go up.
Older buildings with higher fees aren’t always bad. Some of the best-run buildings in Ottawa have higher fees because they properly fund maintenance and repairs—saving you from big, unexpected expenses down the line.
🚨 How to Avoid This Mistake: Always review the condo’s status certificate before buying. This document will tell you how healthy the building’s finances are and whether there’s a risk of fees skyrocketing.
Mistake #2: Thinking All Condos Appreciate the Same Way
Some buyers assume that any condo in Ottawa will increase in value over time. That’s just not true.
Condos appreciate differently than freehold homes, and in 2025, it’s more important than ever to be strategic. Some buildings will see great appreciation—others will stagnate or even lose value.
The difference?
✔ Location matters. Condos in walkable areas with strong transit options (Westboro, Little Italy, The Glebe, etc.) tend to hold value better.
✔ Building reputation is huge. If a building has poor management, high turnover, or issues with maintenance, buyers will avoid it—hurting resale value.
✔ Layouts play a role. Units with smart floor plans, good natural light, and functional storage will always be more desirable than awkward or dark units.
🚨 How to Avoid This Mistake: Research resale history in a building before buying. If units have been sitting on the market for months or reselling at a loss, that’s a red flag.
Mistake #3: Overlooking the Reserve Fund
Would you buy a house with a collapsing roof? Probably not. But buying a condo in a building with a bad reserve fund is just as risky.
The reserve fund is the building’s emergency savings account. If it’s underfunded, guess who’s paying for repairs? You and the other owners.
🚨 How to Avoid This Mistake:
Check the reserve fund study (found in the status certificate). It shows how much money is in the fund and whether it’s enough to cover future expenses.
Ask about special assessments. If a building has had surprise bills in the past, it could happen again.
Avoid buildings with deferred maintenance. If repairs have been put off for too long, it’s only a matter of time before the costs catch up.
Mistake #4: Not Considering Future Development
You love the view from your condo? So does the developer planning to build a 40-storey tower right next door.
Future construction can impact:
❌ Your view
❌ Noise levels
❌ Traffic and congestion
❌ Even property values (depending on what’s being built)
🚨 How to Avoid This Mistake:
Check the city’s development plans. Ottawa has several large-scale projects in the works—make sure your dream view isn’t about to be blocked.
Look at what’s happening nearby. If there are vacant lots or old buildings slated for redevelopment, find out what’s planned.
Ask your realtor. We have access to city planning documents and can tell you what’s coming.
Mistake #5: Ignoring Parking (Even If You Don’t Drive)
You don’t have a car? Cool. But skipping a parking spot could still be a mistake.
Why? Because resale value matters. Many buyers (and renters) in Ottawa still want parking, and in some buildings, the lack of a spot can make a unit much harder to sell.
That being said, not all parking is equal. A well-located indoor spot is worth more than an outdoor space. A right-sized space (not crammed into a corner) is more desirable. And in some buildings, parking spaces are selling for upwards of $60,000—so make sure you’re not overpaying.
🚨 How to Avoid This Mistake: Even if you don’t need parking now, consider resale demand. If parking is limited in the building, having a spot could give you an edge when selling.
Mistake #6: Thinking Pre-Construction is a Guaranteed Win
Pre-construction condos used to be a no-brainer: buy early, wait a few years, and watch the value go up. In 2025, that’s not always the case.
Why?
Construction costs are rising, meaning developers are pricing units higher.
Some projects are delayed or canceled, leaving buyers in limbo.
The resale market offers great options—why wait years when you can buy a move-in-ready condo now?
That’s not to say pre-construction is bad. But you need to be strategic.
🚨 How to Avoid This Mistake:
✔ Only buy from a reputable developer. Some developers have a history of delays and budget overruns—know who you’re dealing with.
✔ Read the fine print. What happens if your unit is delayed by two years? Can you assign (sell) the unit before closing?
✔ Compare with resale options. In some cases, a move-in-ready unit makes more financial sense than waiting for a pre-construction unit.
Final Thoughts: Buying a Condo in 2025? Do It Right.
Buying a condo can be a great investment—if you do it the right way. That means:
✔ Researching condo fees and financials
✔ Choosing a unit with long-term value
✔ Being aware of future development
✔ Thinking about resale potential
✔ Understanding the risks of pre-construction
And most importantly? Working with an agent who knows Ottawa’s condo market inside and out. If you’re thinking about buying, let’s chat.
