Caswell Hill is one of Saskatoon's older, more affordable central neighbourhoods, and its apartment stock tends to be smaller buildings rather than large towers. Before making an offer, a buyer's lawyer or agent should request the condo corporation's estoppel certificate, which discloses monthly fees, any special assessments and the state of the reserve fund, since an underfunded reserve can mean a large unexpected bill down the road.
Financing an apartment-style condo follows the standard rules, 5 percent down on the first $500,000 of the price, but some lenders apply extra scrutiny to a building's reserve fund health before approving a mortgage on a unit inside it.
For a buyer drawn to Caswell Hill's walkability and mature streets, an apartment unit is a genuine and often more affordable way into the neighbourhood than a house.
Get your hand-reviewed valuation from Joel Dyck.