Condo or freehold: what you are really buying in each case
Doorvia Guides · July 30, 2026
Freehold means you own the land and every repair; condo means shared ownership, monthly fees and rules.
With freehold ownership you own the structure and the land, and you are responsible for every repair, from shingles to the water line at the street. There are no monthly fees, but there is also no shared reserve fund when something big fails.
With condominium ownership you own your unit and a share of the common elements. Your monthly fee funds maintenance, insurance for the common elements, and contributions to the reserve fund - and you must follow the corporation's rules.
Neither is inherently cheaper. Compare total monthly carrying cost including your own maintenance reserve for freehold, and read the condo's rules and reserve fund before assuming the fee is fair.
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