What should I check before buying a condo in Vancouver?

Review the strata minutes, depreciation report, property condition assessment, financial reserves, age of major systems (roof, HVAC, plumbing), insurance claims history, and upcoming special assessments.

What is a strata depreciation report?

A depreciation report evaluates the condition of common property and estimates repair/replacement costs over 30 years. It helps determine if the strata has adequate reserves and warns of upcoming major expenses.

What are strata fees and when do they increase?

Strata fees (monthly charges) cover common area upkeep. They typically increase 2-5% annually. Check strata minutes to see historical fee increases and upcoming special assessments.

How do I know if a condo's strata is financially healthy?

Check the strata's reserve fund (typically 30-50% funded is adequate), review 3 years of financial statements, look at the depreciation report's funding plan, and ask about delinquent unit fees.

What is a condo special assessment?

A special assessment is an unexpected charge to owners (beyond regular fees) for major building repairs. They can range from thousands to tens of thousands. Check the depreciation report for upcoming assessments.

What questions should I ask the strata council?

Ask about reserve funding, special assessments planned in the next 5 years, major systems' age, insurance claims, rental restrictions, pet policies, upcoming renovations, and delinquent units.

How old should major building systems be?

Roof: 15-20 years; HVAC: 10-15 years; Plumbing: 20-50 years; Electrical: 30-60+ years. Older systems increase risk of expensive repairs. Check the depreciation report for condition assessments.

Vancouver Condo Building Checklist: What to Check (2026)

How to Assess a Vancouver Condo Building: 2026 Strata Due Diligence Checklist

A Vancouver condo is only as good as the strata behind it. Use this checklist — financials, depreciation report, AGM minutes, insurance — to avoid buildings that cost far more than the list price.

Written by Hamidreza Etebarian on March 12, 2026 and updated on April 23, 2026

You're not just buying a unit. You're buying into a building, its finances, its maintenance history, its insurance situation, and every decision its strata council has made for the past decade. Here's exactly how to evaluate all of it.

If you are new to strata ownership and want to understand the basics first, start with the guide to strata ownership in BC before diving into the document review below. It covers what strata fees include, how the Contingency Reserve Fund works, and the three types of strata you will encounter across British Columbia.

If you're searching for an apartment to buy in Vancouver, you're actually looking at a condo. In BC, apartments are typically rental buildings, while condos are strata properties that you own. Whether you've been searching for apartments or condos, this guide covers exactly what you need to know before buying.

Why Strata Due Diligence Matters More in 2026

Vancouver's condo market has 2,030 active listings right now, with a median asking price of $839,400 and a median of 42 days on market. That's a lot of choice. And that's exactly when buyers get complacent and skip the research.

Don't. In 2026, there are three reasons strata due diligence matters more than ever:

First, insurance costs have spiked across BC over the past few years. Many strata corporations are now carrying deductibles of $100,000 or more for water damage. If a pipe bursts in your unit, you could be personally on the hook for six figures before the strata insurance kicks in. Always check the current deductible and compare it against your own home insurance coverage.
Second, deferred maintenance from the pandemic years is catching up with older buildings. Strata corporations that delayed envelope repairs, roof work, or mechanical upgrades between 2020 and 2023 are now facing those bills. Special levies are the result.
Third, more units for sale in the same building than usual is a meaningful signal worth paying attention to. On Zealty right now, 1251 Cardero Street in the West End (a building over 35 years old) has five units listed simultaneously, ranging from $249,900 to $369,900. Units in a building that old, priced that low relative to the Vancouver median, warrant extra scrutiny on the reserve fund and strata financials before you make an offer. You can check any building's health by searching its name or address directly in Zealty's Strata Browser.

1- Research the Building First, For Free

Before you book a showing, look up the building on . Search by address or building name. You'll see construction type and materials, number of units and storeys, year built, management company, pet and rental policies, amenities, and rain screen status. All in one place, covering over 14,000 strata buildings across BC. This takes five minutes and tells you immediately whether the building is worth further investigation.