HassanWalji purchased a new condo in the heart of downtownToronto, and had
no idea at the time what he was getting into. After checking out a couple of units,
he decided on a one-bedroom plus den, 989-square-feet unit for $300,000, and
spent an additional $14,000 on upgrades.
“I thought it would be cheaper because it was new and I liked the fact that
no one had lived in it before,”says Walji. “I had no idea of the disadvantages at
the time.”
Though Walji was aware he would be required to move into his sixth floor
unit before the entire building was complete, he wasn’t prepared to pay an
occupancy fee.
When he was allowed to move into his unit – a year later than expected – he
began paying a $2,200 per month occupancy fee while the building was
being completed.This period was expected to run for eight months, for a total
of $17,600.
Recently, after the eight months was up, the developer said the city was not yet
able to register the condo, and that it needed to extend the occupancy period for
another six months. For Walji, this meant another $13,200 in ‘rent’that he would
never recover.
Therefore, he will have paid out a total of $30,800 in occupancy fees over 14
months, assuming the developer doesn’t extend the period again.
In addition, he expected the unit itself to be finished before moving in. Instead,
an entire wall – which was supposed to separate the den from the living room –
was missing.Walji had to wait a week for the builders to construct the wall, leaving
his unit in a dusty mess.
“I wasn’t aware that it would be such a problematic procedure,”he says.
Many of the upgrades Walji ordered and was counting on were never
completed, and instead he was offered a refund.
“Make sure you have a lawyer, and make sure you read the fine print,”Walji says.
“Before signing the contract, tell them that you want the unit 100% complete
before you move in.”
