Searching for Townhomes for Sale Calgary ? Here is a list of all current listings in SE Calgary <$500,000. Browse at your Leisure. If we can help by explaining the Purchase Process and how to review condo documentation Please Drop us a note. If you do not find your dream Townhomes here, please let our team know we may be listing it soon. Click if you are looking for Investment Townhomes! also Click to link down to – Condo Reserve Fund Study and Plan Explained
First Time Home Buyer "Townhouse" Listings SE Calgary
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120 5404 10 Avenue SE in Calgary: Penbrooke Meadows Row/Townhouse for sale : MLS®# A2090093
120 5404 10 Avenue SE Calgary T2A 5G4 
$222,000Residential- Status:
- Active
- MLS® Num:
- A2090093
- Bedrooms:
- 2
- Bathrooms:
- 1
- Floor Area:
- 876 sq. ft.
Back on market due to financing! Please note possession date no earlier than Jan 2, 2024 unless investor. This 2 bedroom end unit is spacious with large open updated kitchen cabinets and granite counter tops with a good sized dining area in Penbrooke Meadows. Living room includes a cozy, corner, wood-burning FIREPLACE. 2 good sized bedrooms and a spacious updated 4-piece bathroom with upgraded ceramic tile countertop finish off this bungalow townhouse. Don't forget the IN-SUITE LAUNDRY and storage area. Parking stall is just outside the door, very convenient, as this is the END UNIT. Lots of VISITOR PARKING RIGHT IN FRONT OF UNIT!There is a large fenced patio perfect for playing or entertaining. This is a great opportunity to own or invest in for revenue. Close to schools, library, transportation, shopping and Stoney Trail. More detailsListed by COLDWELL BANKER MOUNTAIN CENTRAL- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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6 3705 Fonda Way SE in Calgary: Forest Heights Row/Townhouse for sale : MLS®# A2095768
6 3705 Fonda Way SE Calgary T2A 6G9
$228,000Residential- Status:
- Active
- MLS® Num:
- A2095768
- Bedrooms:
- 2
- Bathrooms:
- 1
- Floor Area:
- 905 sq. ft.
AMAZING starter home or investment property. Very-well managed Complex with LOW CONDO FEE, CORNER UNIT, Rare BUNGALOW features 2 Beds, 1 Bath. Very WELL-MAINTAINED. Many UPDATE in the Unit: Range Hood, Electric Stove, Washer, Dryer, Hot Water Tank. Lot of LIGHTS from Windows, Patio Door thanks to End Unit, Private FRONT YARD with Fenced. Plenty of PARKING on street right in front of unit. Great LOCATION in the complex ! This is INCREDIBLE CHANCE to OWN A REAL ESTATE IN CALGARY ! Act quick, this won't last ! More detailsListed by CIR REALTY- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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118 5404 10 Avenue SE in Calgary: Penbrooke Meadows Row/Townhouse for sale : MLS®# A2093697
118 5404 10 Avenue SE Calgary T2A 5G4
$240,000Residential- Status:
- Active
- MLS® Num:
- A2093697
- Bedrooms:
- 3
- Bathrooms:
- 1
- Floor Area:
- 926 sq. ft.
Townhouse 3 bedroom, 1 full bath, kitchen, living room, dinning room, laundry room, centrally located , walk to schools, bus, groceries, library, parks. Private front cement patio fully fenced, storage shed , parking stall #26, plus many visitor parking. Do not miss this one. More detailsListed by URBAN-REALTY.ca- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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10 4531 7 Avenue SE in Calgary: Forest Heights Row/Townhouse for sale : MLS®# A2086813
10 4531 7 Avenue SE Calgary T2A 5E4
$249,900Residential- Status:
- Active
- MLS® Num:
- A2086813
- Bedrooms:
- 3
- Bathrooms:
- 2
- Floor Area:
- 936 sq. ft.
Meet Dorothy! Yea, that's right- this home has a name! She's a humble, quaint and chic girl. Either a first time home buyer or seasoned Investors dream! Located in a quiet complex of Forest Glen Gardens, renovated with the utmost of care. With new paint, and new flooring (2023) new stove (2023), new furnace + hot water tank (2022), low condo fees ($325/month). She makes for a lovely set of first time buyers- with future investment opportunities (great way to start your Real Estate portfolio). Located centrally, and close to major arteries of Calgary, you’ll be able to live affordably, all the while enjoying the proximity to downtown. Call your favourite Realtor, click your red shoes, three times, repeat after me “There's no place like home, there's no place like home!” Call for a showing today! More detailsListed by CIR REALTY- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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A 1207 44 Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2095435
A 1207 44 Street SE Calgary T2A 5E6
$249,900Residential- Status:
- Active
- MLS® Num:
- A2095435
- Bedrooms:
- 2
- Bathrooms:
- 2
- Floor Area:
- 475 sq. ft.
Why rent while you can afford a townhome without the condo fee? 2 bedrooms & 1& ½ bath townhome is boosted with laminated flooring & vaulted ceiling throughout the main level, the spacious living room with the stone detail over the wood burning fireplace and easy access through the patio door toward the deck, bright/ open good size kitchen with the large window over the dining room. Well maintained and convenient located with walking distance to school, shopping, transit, all levels of amenities and quick access to Deerfoot Trail (Highway#2) and Stoney Trail. Book your appointment for viewing. More detailsListed by RE/MAX REAL ESTATE (CENTRAL)- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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410 19500 37 Street SE in Calgary: Seton Row/Townhouse for sale : MLS®# A2087325
410 19500 37 Street SE Calgary T3M 2W9
$256,900Residential- Status:
- Active
- MLS® Num:
- A2087325
- Bedrooms:
- 1
- Bathrooms:
- 1
- Floor Area:
- 537 sq. ft.
**Open House CANCELLED Saturday November 25th 11:00-1:00** WALKABLE | NO SIZE RESTRICTION ON PETS | ENERGY EFFICIENT | LOW CONDO FEES | FURNITURE IS INCLUDED IN SALE | Zen Urban District is an Avalon Master Builder project, built with energy efficiency in mind. This cute garden home offers a modern open-concept floor plan with the best use of space. You will appreciate the designer kitchen with stone countertops, stainless steel appliances and an eat-up bar overlooking the living space with large south-facing windows letting in lots of natural light. Just move in and enjoy the bright neutral paint colours, modern wide plank laminate flooring, contemporary doors and trim, top-of-the-line window coverings and maintenance-free bathroom with ceramic tile, tub surround and stone countertop. The sunny south-facing patio is perfect for barbecuing, growing your potted plants and soaking up the sun with friends and family. Bring your pets, there are no size restrictions and will only need to be approved by the board. Once you get to Seton you won’t need to leave, it’s a great walkable, livable community with employment opportunities, YMCA, shopping, theatres, restaurants, parks and pathways just outside your door. More detailsListed by RE/MAX FIRST- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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418 Seton Circle SE in Calgary: Seton Row/Townhouse for sale : MLS®# A2091610
418 Seton Circle SE Calgary T3M 2L3
$257,000Residential- Status:
- Active
- MLS® Num:
- A2091610
- Bedrooms:
- 1
- Bathrooms:
- 1
- Floor Area:
- 506 sq. ft.
INVESTOR ALERT! Unlock incredible SHORT-TERM RENTAL POTENTIAL with this brand-new, never-lived-in townhouse unit located in the heart of Seton, a vibrant and award-winning community in Calgary. Part of the Zen Sequel, this 1-bed, 1-bath unit offers a cozy and energy-efficient living space, blending modern amenities with a convenient location. With 506 square feet of living area, this property is tailor-made for a low-maintenance lifestyle. Step inside to an open concept design creating a spacious and inviting atmosphere. The kitchen boasts stainless steel appliances, elegant quartz countertops, and cabinets extending to the ceiling with soft-close doors and drawers—a touch of luxury for your daily routine. One of the standout features is its energy efficiency, with stainless and EnerGuide™ rated appliances. Lower energy consumption means reduced environmental impact and utility bills. The low condo fee adds to the appeal, making this an affordable choice for eco-conscious and budget-conscious individuals. Investor's Dream: Seize the opportunity for short-term rentals, tapping into Seton's popularity. The townhome features a 139 sq ft south-facing patio—a perfect spot for enjoying your morning coffee, reading a book, or hosting small gatherings with friends. Seton offers a wealth of amenities within walking distance, including the South Calgary Health Campus, public library, Cineplex VIP, YMCA, restaurants, grocery stores, and shops. Nature enthusiasts will appreciate the proximity to Fish Creek Park and the Bow River, just a few minutes' drive away. Commuters benefit from quick access to Deerfoot and Stoney Trail. Built by Avalon Master Builder with energy efficiency in mind, and pet-friendly condo. Embrace a walkable, livable community with endless employment opportunities, parks, and pathways just outside your door. Seton was honored as Calgary's Best Community of the Year in 2021 & 2022. This unit offers the ideal blend of modern style, energy efficiency, and convenience in a vibrant community. Don't miss the chance to make Zen Sequel in Seton your new home. Take action now - schedule your viewing and experience the true meaning of Zen – where comfort, convenience, and affordability come together seamlessly! More detailsListed by eXp Realty- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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61 4769 Hubalta Road SE in Calgary: Dover Row/Townhouse for sale : MLS®# A2088881
61 4769 Hubalta Road SE Calgary T2B 2N9
$259,900Residential- Status:
- Active
- MLS® Num:
- A2088881
- Bedrooms:
- 3
- Bathrooms:
- 3
- Floor Area:
- 1,001 sq. ft.
GREAT INVESTMENT OPPORTUNITY!!! This is a fully finished 3 bedroom and 2.5 bathroom END unit! Convenient location across from a park and close to most amenities! Private fenced front yard. Mechanical upgrades include furnace(2012), A/C(2013), humidifier and water softener(2013) and the hot water tank in 2021. More detailsListed by RE/MAX REAL ESTATE (CENTRAL)- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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15 3745 Fonda Way SE in Calgary: Forest Heights Row/Townhouse for sale : MLS®# A2081211
15 3745 Fonda Way SE Calgary T2A 5W7
$264,900Residential- Status:
- Active
- MLS® Num:
- A2081211
- Bedrooms:
- 2
- Bathrooms:
- 1
- Floor Area:
- 904 sq. ft.
Beautiful affordable townhouse with private yard in a very vibrant community "Fonda". New paint, new floor, and so on. Location is superb! Just other of Marlborough mall and wall mart, and many. Walking distance to all amenities including Bus stop, LRT station, grocery, restaurants and many more. Close to schools, parks, major roadways etc. More detailsListed by CIR REALTY- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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51 3800 Fonda Way SE in Calgary: Forest Heights Row/Townhouse for sale : MLS®# A2095227
51 3800 Fonda Way SE Calgary T2A 6G8
$264,900Residential- Status:
- Active
- MLS® Num:
- A2095227
- Bedrooms:
- 3
- Bathrooms:
- 1
- Floor Area:
- 1,110 sq. ft.
Beautifully maintained and upgraded two storey in Diamond Estates. Enjoy newer windows, rich hardwood laminate floors, upgraded exterior, large principal rooms, three bedrooms, professionally renovated bath with quartz countertops, tile floors and shower, deep soaker tub, and new plumbing fixtures. Refinished kitchen cabinets, new hot water tank and more! More detailsListed by RE/MAX REALTY PROFESSIONALS- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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416 410 Seton Passage SE in Calgary: Seton Row/Townhouse for sale : MLS®# A2086802
416 410 Seton Passage SE Calgary T3M 3T9
$265,000Residential- Status:
- Active
- MLS® Num:
- A2086802
- Bedrooms:
- 1
- Bathrooms:
- 1
- Floor Area:
- 431 sq. ft.
First Time Home Buyers & Investors!! Well-kept, trendy, and cozy condo in the desirable neighborhood of Seton. This newer, stylish condo offers a fantastic opportunity to own a home in one of Calgary's most sought-after areas. One bedroom condo with open layout, huge South looking windows for tons of natural light, functional kitchen and full modern bathroom. This property also has the added benefit of affordable condo fees, making it a great option for those looking for a low-maintenance home without breaking the bank. Located in the heart of a great neighborhood, you'll enjoy all the benefits of living in one of Calgary's most vibrant communities. Close to YMCA, high school, all sorts of shopping and entertaining. More detailsListed by CIR REALTY- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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2825 Dovely Park SE in Calgary: Dover Row/Townhouse for sale : MLS®# A2090334
2825 Dovely Park SE Calgary T2B 3G9
$269,900Residential- Status:
- Active
- MLS® Num:
- A2090334
- Bedrooms:
- 2
- Bathrooms:
- 1
- Floor Area:
- 773 sq. ft.
Corner Lot - Two-bedroom - Bungalow backing South onto Green-space with a private backyard. 55+ Adult living community for those seeking independent living. Turn-key and ready to move in. Boasting a welcoming open floor plan, the residence spans 773 sq ft and features laminate flooring, white kitchen cabinets and loads of counter space. Newer high-efficiency furnace to boot! A convenient laundry area comes equipped with a stacked washer and dryer. Completing the home is a private and fenced back patio, along with an attached carport and driveway. Take advantage of the community's amenities, including a fabulous community facility. Close to beautiful walking paths, parks both loaded with lots of sitting benches. A quick drive to Deerfoot and downtown. Perfect little gem. More detailsListed by FRAME REALTY GROUP INC.- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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45 3745 Fonda Way SE in Calgary: Forest Heights Row/Townhouse for sale : MLS®# A2091262
45 3745 Fonda Way SE Calgary T2A 5W7
$269,900Residential- Status:
- Active
- MLS® Num:
- A2091262
- Bedrooms:
- 3
- Bathrooms:
- 1
- Floor Area:
- 1,087 sq. ft.
Ideally located, just steps from Marlborough shopping Centre and plenty of amenities, open bright and spacious, ideal for the first time buyer or investor. Not in busy street right in front of a play area. More detailsListed by MAXWELL CANYON CREEK- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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6 904 43 Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2075390
6 904 43 Street SE Calgary T2A 5L2
$270,000Residential- Status:
- Active
- MLS® Num:
- A2075390
- Bedrooms:
- 3
- Bathrooms:
- 2
- Floor Area:
- 1,010 sq. ft.
Very neat and clean 3 bedroom condo town house with very little condo fee.ONLY $100 A MONTH CONDO FEE..Condo fee covers your insurance and garbage pick up snow removing , grass cutting in common area and outer maintenance.Lots of upgrades like new shingles in 2015,New fence and retaining wall in 2016,new windows and patios in 2017,new soffit,facia,eavestrough and stucco in 2017. new side walks in 2022. It is on bus route,walking distance to all 3 levels of schools,library,marl borough mal,10 minutes drive to downtown, walking distance to forest lawn library and pool. and lrt station.Please do not miss this one. . Vacant for quick.Very easy to show any time.New paint and flooring in the kitchen. More detailsListed by Royal LePage METRO- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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305 Cranbrook Square SE in Calgary: Cranston Row/Townhouse for sale : MLS®# A2086749
305 Cranbrook Square SE Calgary T3M 3K8
$275,000Residential- Status:
- Active
- MLS® Num:
- A2086749
- Bedrooms:
- 2
- Bathrooms:
- 1
- Floor Area:
- 661 sq. ft.
Calling all first time home buyers, investors and landlords to this amazing opportunity in gorgeous Riverstone of Cranston! This barely lived in 2 bedroom townhouse will blow you away. Here are 9 REASONS WHY YOU SHOULD BUY THIS PROPERTY: 1) The condition - this unit is practically brand new (built in 2022). You won't have to do ANYTHING here! 2) The Size - enjoy this spacious over 660 sq. ft. unit which offers a large living room, kitchen, laundry, 2 bedrooms and a full bathroom. 3) The quality of finishings - luxury vinyl plank throughout the whole unit (carpet in bedrooms), granite countertops and stainless steel appliances. 4) Energy Efficient Home - Zen townhomes by Avalon are EnerGuide certified with an energy efficient furnace, Energy Star rated vinyl dual glazed, argon filled low e windows, R15 Foam insulation below concrete floors and foundations protected with non-petroleum based waterproofing material. 5) ***Short term rentals and pets are allowed*** This is an awesome place to run an Airbnb business! Close proximity to Fish Creek Park, playgrounds, lots of walking paths, South Campus Hospital, easy access to Stoney Trail and Deerfoot make this a great location! 6) Low condo fees - only $109.38/month. You won't see this low condo fee anywhere else! 7) Amenities - Riverstone residents can access all the events and programming at Century Hall, the Cranston Residents Association facility. This 22,000-square-foot community centre - houses a gym & meeting/banquet rooms. Outside, expect year-round recreation at the splash park, outdoor hockey rink, tennis and basketball courts & 2.8-hectare private park. 8) Assigned parking. 9) Large East facing patio! Are you excited yet? Book your private showing RIGHT NOW before it's too late. Will not last long! Unit is available for quick possession! More detailsListed by RE/MAX FIRST- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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221 Mckenzie Towne Lane SE in Calgary: McKenzie Towne Row/Townhouse for sale : MLS®# A2094607
221 Mckenzie Towne Lane SE Calgary T2Z 0C4
$280,000Residential- Status:
- Active
- MLS® Num:
- A2094607
- Bedrooms:
- 2
- Bathrooms:
- 2
- Floor Area:
- 936 sq. ft.
In the vibrant community of McKenzie Town, you will find this charming 2 bedroom, 1.5 bathroom townhome. Step into the main floor, revealing an inviting open layout that seamlessly intertwines the living room, kitchen, and a convenient 2-piece bathroom. Entertaining is a breeze on this level and you will enjoy hosting family and friends. Ascend to the upper level, where two bedrooms await, one adorned with access to a charming second balcony, alongside a well-appointed 4-piece bathroom and the convenience of laundry amenities. This unit comes with an underground parking stall and access to the parkade and visitor parking is conveniently close to this unit. This home is within close proximity to shopping on 130 Ave, numerous amenities, schools, parks and quick access to Stoney Trail and Deerfoot Trail. Do not miss out on this opportunity to live in this sought-after community, book your showing today! More detailsListed by REAL BROKER- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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4315 Seton Drive SE in Calgary: Seton Row/Townhouse for sale : MLS®# A2096343
4315 Seton Drive SE Calgary T3M 0M2
$280,000Residential- Status:
- Active
- MLS® Num:
- A2096343
- Bedrooms:
- 1
- Bathrooms:
- 1
- Floor Area:
- 571 sq. ft.
Welcome to your new, fully furnished home in Seton, Calgary – where convenience meets comfort! This inviting one bedroom plus den unit is strategically located near essential amenities, making it an ideal choice for various lifestyles. Situated close to the South Health Campus, Superstore, Cineplex, and a plethora of shopping options, this residence offers unparalleled convenience for those who value accessibility. Imagine the ease of being just moments away from medical facilities, everyday essentials, and entertainment – truly a location that caters to your every need. Perfect for a first-time buyer seeking a cozy and manageable space, this unit also holds immense appeal for hospital workers desiring proximity to their workplace. The added den provides versatility, serving as a home office, guest room, or additional storage space – adapting effortlessly to your unique lifestyle. Investors, take note! This property has a proven track record as a short-term rental, consistently generating positive cash flow. The potential for a lucrative investment is evident, making it an attractive choice for those looking to expand their real estate portfolio. The well-maintained unit exudes a welcoming atmosphere, blending functionality with style. Picture yourself enjoying the convenience of modern living in a location that not only meets your everyday needs but also positions you for future success. Seize this opportunity to own a piece of Seton, Calgary – a residence that not only provides a comfortable living space but also offers an excellent investment potential. Don't miss out on the chance to call this vibrant community your home! More detailsListed by CIR REALTY- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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4671 Seton Drive SE in Calgary: Seton Row/Townhouse for sale : MLS®# A2090606
4671 Seton Drive SE Calgary T3M 3T9
$284,900Residential- Status:
- Active
- MLS® Num:
- A2090606
- Bedrooms:
- 1
- Bathrooms:
- 1
- Floor Area:
- 459 sq. ft.
**Photos Are Of An Older Showhome And All Finishing Materials Will Be Different Than Shown** Welcome to ‘The Cedar”, an incredibly designed townhome by Rohit Communities, one of Alberta’s largest homebuilders! Offering 1 bed, 1 bath, and over 458 Sq Ft of living space, this property offers a comfortable, convenient and affordable lifestyle! Step inside and you’ll be greeted by a large open concept floor plan that features tall ceilings throughout the entire home! The main floor offers a spacious living area and a chef inspired kitchen featuring quartz countertops, designer fixtures and stainless steel appliances. Around the corner you’ll find the primary bedroom that features a large closet, a 4-piece bathroom and your stacked washer/dryer. Included with this unit is a parking stall ensuring that you'll have ample space to store your vehicle. Seton is one of Calgary’s newest master planned communities! With easy access to Deerfoot and Stoney Trail, the YMCA, South Health Campus, shops, restaurants, and so much more, this home is the perfect spot to plant your roots! You won’t want to miss out on this incredible opportunity! More detailsListed by RE/MAX HOUSE OF REAL ESTATE- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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415 338 Seton Circle SE in Calgary: Seton Row/Townhouse for sale : MLS®# A2094518
415 338 Seton Circle SE Calgary T3M 3H1
$291,900Residential- Status:
- Active
- MLS® Num:
- A2094518
- Bedrooms:
- 2
- Bathrooms:
- 1
- Floor Area:
- 608 sq. ft.
OPEN HOUSE Dec. 2, 1-3pm. Welcome to the epitome of urban comfort in the heart of Seton! This charming townhome is perfect for AirBnB investors, first time home buyers and those looking to get into one of Calgary's fastest growing communities! It offers a perfect blend of convenience and style, featuring two bedrooms and one bathroom. This residence provides a cozy retreat while keeping you close to top end facilities and amenities. The well-appointed interior showcases a thoughtful layout, maximizing space and natural light. The modern kitchen is a culinary delight, boasting sleek appliances and ample counter space. A well-proportioned living area serves as a versatile space for relaxation and entertainment. The two bedrooms provide comfortable sanctuaries, perfect for restful nights. With the added convenience of a well-designed bathroom, this townhome is a testament to efficient living. Furthermore, the inclusion of assigned parking ensures hassle-free mobility. Embrace the Seton lifestyle, where your home is not just a place to live but a key to the dynamic rhythm of the community. More detailsListed by RE/MAX REAL ESTATE (CENTRAL)- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
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13 3745 Fonda Way SE in Calgary: Forest Heights Row/Townhouse for sale : MLS®# A2089369
13 3745 Fonda Way SE Calgary T2A 5W7
$299,900Residential- Status:
- Active
- MLS® Num:
- A2089369
- Bedrooms:
- 3
- Bathrooms:
- 1
- Floor Area:
- 912 sq. ft.
Welcome to this renovated yet another designer town home in desire community of Forest Heights. 3 bed rooms, full washroom, high end kitchen with quartz and SS appliances, living room with wood burning fire place, separate storage room, and a dedicated laundry room. Has a private fenced backyard included, a parking stall which is right next to the unit. The Complex has lots of green space & trees as well as a Playground. Excellent location! Only takes 10 minutes to get to Downtown, close to schools, shopping, restaurants, grocery stores, transportation, LRT Station, this unit is must see, enjoy the showing thx. More detailsListed by REAL ESTATE PROFESSIONALS INC.- Glen Godlonton
- CIR Realty
- 403-829-9500
- glen@godlonton.com
Looking for a condo a bit more Expensive ? Click here to view our Luxury Condo Website!
Thanks for Viewing Townhomes for Sale Calgary SE
Real Estate Tips
Condo Reserve Fund Study and Plan Explained
Who can do a reserve fund study?
Only a “qualified person” can do a reserve fund study. A qualified person would be someone who, based on reasonable and objective criteria, is knowledgeable about
• depreciating property
• the operation and maintenance of depreciating property
• the costs of replacements or repairs to depreciating property.
The board has the sole responsibility and authority to hire and should obtain quotes for a reserve fund study, as it would get quotes for any other contract.
When choosing the person who best meets all the requirements of the corporation the board should
• ask for verification of the person’s qualifications
• ask for proof of liability insurance
• ask for and check references
• examine one of the person’s other reserve fund study reports to see if it meets the corporation’s needs and is understandable
• ask what follow-up assistance the person will provide
• interview the person
• ask about fees and any additional costs
• ask about time lines for completing the study and
report.
Whoever is hired must provide the board with information about their qualifications and whether they are an employee, agent, or associate of the condominium corporation, its Manager or maintenance provider. Ttrue for townhomes for sale calgary also
Corporations with 12 or less units
In condominium corporations with 12 or fewer units, the owners have a choice on how to conduct a reserve fund study. They may hire a qualified person or they may vote (by special resolution) to let the corporation be its own “qualified person” (meaning, the owners can do the study themselves).
Condominium corporations who choose to let the corporation be its own qualified person must meet all the criteria and guidelines for the report and reserve fund plan. If the owners do not pass a special resolution, the corporation must hire a qualified person to complete the reserve fund study and report. For townhomes for sale Calgary SE also.
What is included in a reserve fund study report?
The qualified person who completes the reserve fund study must prepare a report on the common property and other property owned by the corporation to
• identify what may need to be repaired or replaced within the next 25 years
• assess the present condition of the property and estimate when it will need to be repaired or replaced
• assess the potential for increased damage to other common property and the potential cost if the repair or replacement is delayed
• estimate the costs of repair or replacement of the property, at a cost no less than current costs
• identify the life expectancy of a component if it is repaired or replaced
• identify the current level of funds in the reserve fund
• recommend the amount of money, if any, that should be included in or added to the reserve fund; and describe the basis for determining the current level of funds and recommend the amount of money required.
Updating the reserve fund study Every five years, Condominium corporations must conduct a new reserve fund study. Once completed, the board must develop and adopt a new reserve fund plan. Before implementing the plan it should be presented to the unit owners for their information.
A reserve fund plan
The board must prepare and approve a reserve fund plan based on the reserve fund report, decide what work to do and the order in which it will be done. The Plan must show that sufficient funds will be available from the owner’s contributions to repair or replace the property identified in the report.
Some questions the board needs to consider when developing the reserve fund plan:
1. How much money is needed to have sufficient funds in the reserve fund? If the report made any financial recommendations were they feasible or practical for the corporation?
2. What are the priorities for repair and replacement and what maintenance can be done to extend the life of any of those components?
3. What alternatives are available to raise the money needed to pay for the repair and replacement of property?
4. What are the practical realities, for the board and
the other owners, of these funding alternatives?
Will one alternative cause more hardship and community disruption than another? Is there a strong reason to choose one alternative over the other? Perhaps the board could discuss alternatives with the owners at an information meeting before making the final decision. Good community relations suggest the owners should not be surprised by the board’s final decision.
Once the board has made the decision on which funding method to implement it should adopt the entire reserve fund plan and send a copy to the owners. A reserve fund plan will normally cover a five-year period, but may be updated by the board each year.
Conversions, previous rental buildings and new condominium corporations Residential condominium conversions must have a reserve fund study, reserve fund study report and a reserve fund plan in place before the developer sells the first unit. Purchasers are entitled to inspect the reserve fund report and the reserve fund plan.
If all the condominium units are owned by one owner or a group of owners, and are used as a rental property, the condominium corporation need not have reserve fund. However, if the owners decide to sell any of the units, the condominium corporation must complete the reserve fund study, reserve fund study report and a reserve fund plan before any unit is sold.
New condominium corporations have two years from the date of registration of the condominium plan to complete the reserve fund study, reserve fund study report, and reserve fund plan.