Financial Information
Co-op members purchase the shares in the Co-op that entitle them to occupy their suite. Since Ambleview is a co-op, but not a strata, conventional real estate mortgages are not available. So, prospective members need to pay the price of shares in full or arrange their own financing. Ambleview’s maximum share selling prices depend on the suite size and location but are always an average of 26% below professionally appraised market values if the same suites were strata or condo instead. Because Ambleview is a co-op, share purchases are exempt from real estate fees and GST.
At a general meeting each Fall, Co-op members decide on the budget and the monthly maintenance fees for the next fiscal year and these fees depend on the suite’s size. These fees cover all expenses associated with operating and maintaining the Co-op, including common areas, the building’s exterior, and the surrounding grounds.