Considering the maintenance fee when buying is very important as this regular monthly expense can have a big impact on your quality of life. Low maintenance fees are more important than ever since the introduction of the HST in Ontario. Although it will not be directly applied to maintenance fees, it will increase the cost of many services which make up the fee. Maintenance fees vary from condo to condo depending on which expenses are covered, how many suites are in the building, the age of the building, how many staff are employed and the ammenities.

As of January 2011, typical condo fees are $0.50 to $0.60 per sq ft. So an 800 square foot suite would have condo fees between $400 to $480 per month. This would be for a typical building that includes gas heating in the condo fee but not electricity. If electricity is included in the condo fee then you should add around $60 per month to be sure you’re comparing apples to apples.

Some buildings have a 24 hour concierge, parking valets, security, full time cleaners and extensive amenities. In my opinion, the cost of a large full time staff seems to be a large contributor to high condo fees. These buildings can have maintenance fees in the $0.85 per square foot range. Some value these services and are happy to pay that fee but this article is about buildings with low fees.

One condo townhouse development which has among the lowest condo fees are the South Beach Marina Townhomes on Stadium Rd. Don’t expect many amenities or a concierge but I haven’t been able to find a better value for those looking to save money. I estimate current fees at South Beach Marina to be around $0.20 per square foot.

Another option if you prefer a building rather than a townhome is 1000 King St West, Massey Square. I’m not sure how they’re able to budget such low fees but they’re also very low. At the moment I estimate maintenance fees to be around $0.33 per square foot.

Another buiding worth visiting in the King St West area is 18 Stafford, definitely worth considering if a low fee is important to you with monthly fees around $0.40 per sq ft.