Condo maintenance fees on new buildings: what to expect
By Dinesh Jindal, licensed REALTOR® · Reviewed November 2026
Maintenance fees affect both your monthly budget and resale value.
How they are set
The builder's disclosure statement includes a first-year budget and an estimated fee per square foot. After registration, the owners' board takes over and sets fees based on real costs.
What is usually included
- Common-area cleaning, security, concierge
- Building insurance and property management
- Amenities (gym, pool, party room)
- Reserve fund contributions
- Sometimes water, heat or cooling; hydro is often separately metered
Comparing projects
- Compare per square foot, not per month.
- Large amenity packages and 24-hour concierge raise fees.
- Very low first-year estimates can be optimistic.
Questions to ask
- What is the estimated fee per square foot?
- Which utilities are included or sub-metered?
- Is parking or a locker charged separately?
Dinesh lists maintenance estimates for every condo he sends you. Book a call
Quick answers
Are maintenance fees fixed when I buy?
No. The disclosure statement includes an estimated first-year budget. Fees are set by the condo board after registration and can rise once real operating costs are known.
What do condo fees cover?
Common-area upkeep, building insurance, management, amenities, the reserve fund and sometimes utilities such as water or heat. Many new buildings meter hydro and water separately.
What is a reserve fund?
Savings for major repairs and replacements (roof, elevators, garage). A reserve fund study is done in the building's first years to set contributions.
General information, not legal, tax or financial advice. Programs, limits and rebates change; confirm current rules with Dinesh Jindal, your real estate lawyer and your mortgage professional before you sign.