Buying a Canadian condo? Read beyond the floor plan.

A condominium purchase involves a home and shared responsibilities for a building. A viewing can show the light, layout and condition of the unit. It cannot, by itself, explain the financial position of the condominium corporation.

CMHC’s resale checklist points buyers toward the technical audit or reserve-fund study, where available, and recommends expert review of whether reserves can support major repairs and renewal work. The practical question is not simply how much money sits in an account, but what work that money is expected to cover.

Prepare a document-review conversation before committing. Ask your local advisor which records are available, who will review them and how questions about upcoming work will be resolved. Keep those answers alongside your notes on the unit itself.

This is a general Canadian buying guide, not a statement of every province’s legal requirements. Document names, review rights and transaction practices vary. CMHC recommends consulting a lawyer before signing documents; use qualified local advice for the property you are considering.