Found a “freehold” townhome at a good price, found out it’s a POTL should I continue with the purchase?
Hello everyone,
We found a decent sized townhome at a good price in halton and are about to put in an offer but then realized it’s on a parcel of tied land,
The maintenance fees are 95 dollars a month,
It’s a small little offshoot road with about 36 units total (18 on each side)
Garbage collection is city,
I believe the fees are just for snow removal, maybe a little bit of weed whacking but very minimal.
I do see sewer manhole covers on the road, and there are street lights.
There is about $75,000 in the reserve fund (which strikes me as not a lot, but what do I know) and no planned raises or work to be done
Property is 15 years old.
Should I be weary? I’m looking to be there long term (20+ years) and don’t want any headaches down the line.
Thanks for your thoughts!