The Homebuyer Risk Checklist

A levy is usually billed per unit, not per square foot. On a small building, that can mean a much bigger bill per owner than on a large one. Ask how it would be split before you assume.

If a pipe bursts in the unit above yours, the strata's insurance deductible is often passed on to whoever caused the damage — sometimes tens of thousands of dollars, even by accident.

A long repair list sitting next to a nearly-empty reserve fund is one of the clearest predictors of a special levy in the next few years.

Lenders assess the building, not just you. A strata with active litigation, a high rental ratio, or low reserves can get declined for financing even with perfect personal credit.

A covenant can restrict rentals, additions, or renovations. It runs with the land — meaning it applies to you even though you never agreed to it.