Walked a buyer through a South Edmonton duplex vs a single-family detached and the numbers were eye-opening

I showed a couple two properties last week in Ellerslie - a 2021 duplex for $375k and a 1980s bungalow with updates for $415k. The condo fees on the duplex plus the lack of yard actually made the older house the better deal after we ran 5-year costs. Anybody else finding that new builds aren't always cheaper long-term?

2 comments

2 Comments

charles_coleman11d ago

Figure the total cost over the whole time you're there.

oliver_mitchell11d ago

Ngl that's the kind of reality check most people skip when they're house hunting. New builds look clean and shiny but those condo fees creep up faster than anyone expects, plus you're locked into sharing walls and roofs. I've seen folks save on the purchase price of a duplex only to get hit with special assessments a few years down the line. The older house might need some updates but at least you're owning the whole thing and the yard is yours to mess with. Honestly running those 5 year numbers is the smartest thing you can do before signing anything.