Markham Condo Living: Pros & Cons, Costs, What to Know Before Buying

Condo living has become increasingly popular in Markham, appealing to first-time buyers, young professionals, investors, and downsizers alike. With modern amenities, convenient locations, and less maintenance than traditional homes, condos offer an attractive lifestyle option in one of the GTA’s fastest-growing cities.

But before buying a condo in Markham, it’s important to weigh the pros and cons, understand the costs involved, and know what to look out for during the purchase process.

The Pros of Condo Living in Markham

1. Convenience & Low Maintenance
Condo living means you don’t have to worry about shoveling snow, mowing lawns, or exterior upkeep perfect for busy professionals or retirees.

2. Amenities at Your Doorstep
Many condos in Markham feature gyms, pools, rooftop terraces, party rooms, and even concierge services. These lifestyle perks add value and convenience.

3. Prime Locations & Transit Access
Condos are often located near major hubs like Downtown Markham, Unionville GO Station, and Highway 407, making commuting easier.

4. More Affordable Entry Point
Compared to detached or townhouse options, condos often have a lower purchase price, making them more accessible for first-time buyers.

The Cons of Condo Living in Markham

1. Monthly Condo Fees
Owners must pay maintenance fees (typically a few hundred to over $1,000/month depending on building amenities). These cover upkeep, utilities, and amenities but add to overall costs.

2. Potential Special Assessments
If the condo corporation faces unexpected expenses (e.g., repairs, upgrades), owners may be required to pay additional fees.

3. Restrictions & Rules
Condo living comes with bylaws. There may be limits on renting units, owning pets, or renovating interiors.

4. Limited Space & Privacy
Compared to townhouses or detached homes, condos generally offer less square footage and shared walls with neighbors.

Understanding the Costs

When buying a condo in Markham, factor in:

Purchase Price: Typically lower than freehold homes but varies by size, location, and amenities.

Condo Fees: Range from $300 to $1,200+ per month.

Property Taxes: Based on assessed property value.

Utilities & Insurance: Some are covered in fees, others you’ll pay separately.

Closing Costs: Land transfer tax, lawyer fees, and inspections.

What to Know Before Buying a Condo in Markham

Review the Condo Corporation’s Status Certificate

Check the financial health of the building, including reserve funds and pending lawsuits.

Understand the Bylaws

Know the rules around pets, rentals, renovations, and use of common spaces.

Consider Long-Term Value

Look at the location, building reputation, and future development plans in the area.

Work with a Local Realtor

A realtor familiar with Markham condos can help you compare buildings, negotiate, and avoid pitfalls.

Final Thoughts

Condo living in Markham offers convenience, lifestyle amenities, and affordability compared to detached homes, but it comes with unique responsibilities and costs. By carefully reviewing condo fees, bylaws, and financial statements before buying, you can make a smart investment that suits your lifestyle.

Whether you’re a first-time buyer, downsizer, or investor, understanding the pros and cons of Markham condo living is the key to making the right decision in 2025.