List price is only part of the comparison. Fees, maintenance, reserve funds and resale demand decide which option is actually cheaper over five years.
The condo-versus-house decision usually gets made on list price, which is the least useful number in the comparison. What matters is total monthly cost, what you are responsible for maintaining, and who is likely to buy it from you later.
Fees are not wasted money — but check what they buy
Condo fees typically cover building insurance, common area maintenance, and often heat or water. Compare them against what you would spend maintaining a freehold home, not against zero.
Read the status certificate
- Reserve fund balance and the most recent reserve fund study
- Any special assessment already levied or being discussed
- Fee history over the last several years
- Rules on pets, rentals, renovations and parking
- Outstanding litigation involving the corporation
Freehold means all of it is yours
A house gives you control and land value, and it also gives you the roof, the furnace, the windows and the driveway. Ottawa winters make those items expensive on a schedule you do not choose. Budget for them rather than treating each one as a surprise.
A condo moves your maintenance costs into a predictable monthly line. It does not remove them.
Think about who buys it next
Resale demand differs by property type and area. A well-located condo with sane fees and a healthy reserve can outperform a poorly located house — and the reverse is just as true. Compare both against your actual numbers on the buying a home page, or send criteria for a filtered search.