As a Condo Specialist in North Vancouver, I want to make sure condo owners and buyers are aware of an important change in 2025: the District of North Vancouver is now billing utilities separately from property taxes.

If you own a condo—or are planning to buy one—this shift could impact how you budget for housing costs throughout the year.

Here’s what we’re going to talk about:

We’ll break down what’s changed, who it affects, and what it means for condo owners and buyers.

Here’s why it’s important:

This new billing method changes when you pay for services like water, sewer, garbage collection, and environmental fees—and it might catch some condo owners off guard.

Here’s why it’s important to you:

Whether you already own a condo or are shopping for one, you need to know if your strata includes utilities or if you’ll get a separate utility bill from the District of North Vancouver. It’s a detail that could affect your monthly budget and purchasing decision.

Disclaimer: This is for informational purposes only and should not be considered real estate advice. Always verify information independently and consult with a qualified professional before making any real estate decisions.

What Changed in 2025?

Previously, your utilities were combined with your property tax bill, all due in early July. That changes this year.

Now, your utilities will be billed separately with a new due date of March 31 every year.

Good news for 2025: There’s a one-time extension—you have until May 30, 2025 to pay your utility bill without penalty.

What’s Included in the Utility Bill?

Your separate utility bill covers:

• Water

• Sewer

• Solid waste collection

• Environmental fees

💡 While the total annual cost remains similar, you’ll now pay it in two portions:

• Utilities: March 31

• Property taxes: July 2

How Much Will It Cost?

Exact amounts vary by property type, but here’s a sample scenario:

If your total tax + utility bill was $7,000 last year, and utilities made up $1,500 of that, you’ll now pay:

• $1,500 on March 31

• $5,500 on July 2

The theory is that it’s not more money—it’s just split across two due dates.

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Will You Receive a Utility Bill as a Condo Owner?

That depends on whether your strata has metered or non-metered utilities:

• Non-metered strata:
  You’ll receive a separate utility bill from the District.

• Metered strata:
  Utilities are already included in your monthly strata fee, and you won’t get a separate bill.

✅ Pro Tip: When comparing condos, don’t just look at the strata fee—ask what’s included. A slightly higher strata fee that includes utilities might actually cost you less overall.

What Buyers Should Ask Before Purchasing a Condo in North Vancouver

If you’re working with a Condo Specialist in North Vancouver, make sure they guide you through this during the purchase process.

Here’s what to confirm:

• ✅ Are the utilities metered or non-metered in the building?

• ✅ Do the strata financials show utilities included in monthly fees, or will you receive a separate bill?

• ✅ Is there a way to confirm details with the District of North Vancouver if anything is unclear?

📌 These small details can make a big difference when comparing homes and calculating your true monthly costs.

Related Posts You Might Like

7 Things to Check in Strata Documents Before Buying a Condo

Why Professionals are Moving from Vancouver to North Vancouver

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What to Look for in Strata Documents Before You Buy

Your condo real estate agent in North Vancouver should know that buying a condo is more than just finding the perfect unit—it’s about understanding the strata corporation to ensure you're making a smart financial decision. Strata documents provide key insights into the building’s financial health, bylaws, insurance coverage, upcoming expenses, and potential legal risks, helping you avoid costly surprises and protecting your investment.

If you don’t review these documents carefully, you could face unexpected costs, restrictions, or legal issues after moving in. In this guide, we’ll walk through seven key things you must check in strata documents before buying a condo.

📌 Disclaimer: This is for informational purposes only and should not be considered real estate advice. Always verify information independently and consult with a qualified professional before making any real estate decisions.

1. Ensure Form B is Up to Date

Lenders Require a Current Form B

A Form B (Information Certificate) is one of the most important documents in a strata purchase. It provides essential details, including:

• Monthly strata fees

• Any outstanding special levies

• The contingency reserve fund balance

• Legal actions the strata may be facing

• Parking & storage allocations

📌 Why This Matters:

• If there was a recent AGM (Annual General Meeting), Form B must be updated with any changes. Lenders require an up-to-date Form B for financing approval.

• Confirm parking & storage allocations – Verify that what the seller claims aligns with the registered strata records.

🔎 Pro Tip: Always request the most recent Form B, especially if an AGM was held after it was first issued.

2. When is the Next AGM? Timing Matters

Is the Next AGM Before or After Completion?

A special levy passed before you take possession is typically the seller’s responsibility in BC, but it's always best to remove uncertainty by clarifying who is responsible for payment before finalizing your purchase.

Bylaw changes made at the AGM could impact rental restrictions, pet policies, or renovation approvals, affecting how you use the unit.

If the AGM is scheduled after your completion date, you may not have insight into upcoming financial decisions or special levies before committing to the purchase. Completing after the AGM is often beneficial for buyers, but it doesn’t always align with the rest of your plans—check with your realtor to determine the best timing for your situation.

🔎 Pro Tip: If the seller has already received an AGM notice, review it carefully to identify potential financial impacts.

3. Strata Building Insurance – Are You Covered?

Check Insurance Deductibles & Dates

Strata corporations are required to have building insurance, but deductibles have increased significantly in recent years.

📌 What to Check:

• Deductible amounts – Strata insurance deductibles can range from $20,000 to $1.0M, so ensure your homeowner’s insurance is sufficient to cover the strata building insurance deductible to avoid unexpected out-of-pocket costs.

• Valid dates – Strata insurance renewals do not always align with the AGM date, so check when the current policy expires.

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4. Are There Any Legal Actions Against the Strata?

Could You Be Exposed to a Lawsuit?

Strata corporations can be involved in legal disputes that may impact current and future owners. Common lawsuits involve:

• Contractors – Disputes over building repairs, maintenance work, or service contracts.

• Owners or tenants – Lawsuits related to bylaw enforcement or strata council decisions.

• Developers – Deficiency claims in new buildings where the strata is seeking repairs for construction defects.

📌 Why This Matters:

• If a lawsuit is ongoing, owners may be responsible for legal costs and settlements.

• Legal disputes can delay necessary repairs or lead to higher strata fees in the future.

• A pending deficiency lawsuit against a developer could indicate unresolved construction defects.

🔎 Pro Tip: A lawsuit doesn’t necessarily mean “don’t buy”—many stratas in BC file lawsuits against their developers to ensure proper repairs are made. The key is to be aware of any legal action and understand its potential impact. If a lawsuit is disclosed, you can always consult a lawyer for further clarification. Always check Form B and AGM minutes for references to lawsuits, legal disputes, or pending claims.

5. Contingency Reserve Fund (CRF) – Is It Adequate?

A Well-Funded CRF Means a Well-Managed Strata

The Contingency Reserve Fund (CRF) is the strata’s savings account for major repairs and capital expenses.

📌 What to Look For:

• A low CRF could mean upcoming special assessments to cover major repairs.

• Check the depreciation report – Does the CRF have enough money to cover future repairs?

• If the building is older and the CRF is low, expect higher costs down the road.

🔎 Pro Tip: Compare the CRF balance against planned maintenance projects to see if the building is financially stable.

6. Depreciation Report – Future Maintenance Costs

Does the Strata Have a Long-Term Maintenance Plan?

A depreciation report outlines the expected lifespan of major building components, such as:

• Roof replacement

• Plumbing and electrical systems

• Elevator maintenance

📌 Why This Matters:

• If the building has no depreciation report, owners may not be properly budgeting for future repairs.

• A lack of planning often results in sudden special levies.

• Stratas that regularly update their depreciation report show strong financial management.

🔎 Pro Tip: Newer buildings may not have a depreciation report yet, so ask how they plan to manage long-term repairs.

7. Electronic Planning Report (EPR) – What’s Coming?

Strata corporations with five or more units must obtain an Electrical Planning Report (EPR) by December 31, 2026, or December 31, 2028, depending on location in BC. This report assesses current electrical capacity and plans for future demand, such as EV chargers and heat pumps.

📌 Why This Matters:

• Helps strata manage energy use and avoid costly upgrades.

• Identifies electrical limitations that could affect future unit owners.

• Stratas may need to implement demand management strategies to keep costs down.

🔎 Pro Tip: If an EPR hasn’t been completed, future electrical upgrades could lead to higher strata fees or special levies. Ask your realtor if an EPR is available before

Bonus Tip: Get Professional Help Reviewing Strata Documents

Strata documents can be complex and time-consuming to review, but there are professional services that specialize in strata document reviews for a fee. These companies analyze financials, bylaws, meeting minutes, and potential red flags to give you a clearer picture of the building’s overall health. Search online for strata document review services or check with your real estate agent for recommendations.

Final Thoughts

Understanding strata documents before buying a condo is essential for making a smart real estate decision, but not all agents have the same expertise. Different real estate agents specialize in different property types, so if you're buying a condo, make sure your Condo Real Estate Agent in North Vancouver is highly knowledgeable about strata properties. By reviewing Form B, AGM dates, insurance policies, legal disputes, the contingency fund, depreciation reports, and the EPR, you can avoid unexpected surprises and protect your investment.

📌 Thinking of buying a condo in North Vancouver? Let’s connect! Click Button below.

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For more insights into North Vancouver & West Vancouver’s condo market, 

📌 Selling an Estate Property in BC. Click Here for Your FREE Guide
📌 Why Professionals are Moving from Vancouver to North Vancouver

Condo Specialists in North Vancouver know that buying a condo in this highly sought-after area is a smart investment. With breathtaking mountain views, vibrant neighborhoods, and close proximity to downtown Vancouver, North Vancouver is a top choice for condo buyers. However, navigating the condo market here requires understanding strata living, neighborhood choices, financing, and making a competitive offer.

This guide will walk you through everything you need to know before buying a condo in North Vancouver, from understanding strata documents to choosing the best neighborhood for your lifestyle.

This is for informational purposes only and should not be considered real estate advice. Always verify information independently and consult with a qualified professional before making any real estate decisions.

Why Buy a Condo in North Vancouver?

Lifestyle & Location Advantages 

North Vancouver offers a balanced lifestyle with easy access to both urban conveniences and outdoor adventures.

• Proximity to Downtown Vancouver: Quick commute via SeaBus or a short drive.

• Outdoor Activities: World-class hiking, skiing, and waterfront views.

• Community & Culture: A strong sense of community with vibrant local events, farmers markets, and cultural experiences.

Top Neighborhoods for Condo Buyers in North Vancouver 

Lower Lonsdale 

• Urban & Trendy: The most walkable neighborhood with cafes, shops, and the Lonsdale Quay Market.

• Perfect for Young Professionals: Quick SeaBus access to downtown Vancouver.

• High Demand Area: Popular for both buyers and renters, making it great for investment properties.

Central Lonsdale 

• Residential & Family-Oriented: More residential with schools, parks, and local shops.

• Convenience: Easy access to public transit and major highways.

• Variety of Condo Options: Mix of older, spacious units and newer modern buildings.

Edgemont Village 

• Charming & Upscale: Quiet neighborhood with a village feel, boutique shops, and fine dining.

• Nature-Oriented: Close to Grouse Mountain and Capilano Suspension Bridge.

• Luxury Condos: Smaller inventory but high-end properties perfect for downsizers.

SeyLynn Village 

• Modern & Urban: Newer, modern condos with stunning mountain views.

• Young & Vibrant Community: Popular with young professionals and first-time buyers.

• Easy Commute: Quick access to Highway 1 for commuting to downtown Vancouver.

Marine Drive Corridor 

• Affordable Urban Living: Urban feel with more affordable condo options.

• Shopping & Dining: Lined with shops, cafes, and restaurants.

• Accessible Location: Close to public transit and major roadways.

Seymour 

• Nature Lovers’ Paradise: Surrounded by lush forests, hiking trails, and the Seymour River.

• Quiet & Residential: Ideal for families and outdoor enthusiasts.

• Limited Condo Inventory: Mostly townhomes and low-rise condos with spacious layouts.

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Understanding Strata Living in North Vancouver 

What Is Strata? 

• Shared Ownership: You own your individual unit but share ownership of common areas (hallways, elevators, amenities).

• Strata Council: Elected group of owners who manage building operations and enforce bylaws.

• Community Living: Close proximity to neighbors with shared responsibilities for maintenance.

Strata Fees Explained 

• Monthly Fees: Cover building maintenance, insurance, and amenities.

• Budgeting: Fees vary by building, depending on age, size, and amenities.

• Reserve Fund Contributions: A portion of fees goes into a contingency reserve for major repairs.

Bylaws and Rules 

• Pet Restrictions: Check for pet policies or size restrictions.

• Rental Restrictions: Some buildings have rental caps or restrict short-term rentals (e.g., Airbnb).

• Renovation Approvals: Any alterations may require strata council approval.

What to Look for When Buying a Condo 

Building Age and Condition 

• Newer Buildings: Modern amenities but potentially higher strata fees.

• Older Buildings: Larger floor plans but may require more maintenance.

• Red Flags to Watch For: Leaky condo history, pending special assessments, or expensive repairs.

Amenities and Features 

• Popular Amenities: Gym, pool, rooftop terrace, guest suite.

• Luxury Amenities: Concierge service, spa, movie theater.

• Impact on Strata Fees: More amenities usually mean higher monthly fees.

Reviewing Strata Documents: A Critical Step 

Why Reviewing Strata Documents Is Essential 

Reviewing strata documents is one of the most important steps when buying a condo in North Vancouver. These documents provide crucial information about the building’s financial health, management practices, and potential red flags.

Key Documents to Review (H3)

• Form B: This is a must-have document that includes:

  • Financial Information: Details on strata fees, any special assessments, and the contingency reserve fund.

  • Pending Litigation and Liens: Reveals any ongoing legal disputes or outstanding debts.

• Minutes of Meetings: Reveal ongoing issues, disputes, or major repair discussions.

• Financial Statements & Budget: Ensure the strata has a well-funded contingency reserve.

• Depreciation Report: Long-term maintenance and repair plans.

• Current Bylaws and Rules: Ensures compatibility with your lifestyle needs (e.g., pets, rentals).

Red Flags to Watch For 

• Pending Litigation: Legal disputes can impact all owners financially.

• Underfunded Reserves: Risk of special assessments or increased strata fees.

• Frequent Special Assessments: Indicate poor maintenance planning.

Financing Your Condo Purchase 

Mortgage Pre-Approval 

• Competitive Market: Get pre-approved to act fast and know your budget.

• Local Mortgage Brokers: Choose one familiar with BC’s regulations.

Down Payment Requirements 

• 5% Minimum for properties under $1,500,000.

• Budgeting for Extra Costs: Property transfer tax, legal fees, and inspection.

Making a Competitive Offer 

• Work with a Condo Specialist in North Vancouver: Expert knowledge of the market and negotiation strategies.

• Be Ready to Act Fast: Condos in popular areas like Lower Lonsdale sell quickly.

• Include the Right Contingencies:

  • Subject to financing

  • Subject to strata document review

  • Subject to inspection

Final Thoughts & Call-to-Action 

Buying a condo in North Vancouver is an exciting investment with great potential for lifestyle and financial growth. With the right knowledge and guidance, you can find the perfect condo in this vibrant community.

Thinking of buying a condo in North Vancouver? Let’s connect! As a Condo Specialist in North Vancouver, I can help you navigate the market and find the best property for your needs.

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Serious About Moving? Here’s Why Pre-Approval Should Be Your First Move

If you’re serious about buying a home, getting pre-approved for a mortgage is not just a helpful step—it’s an essential one. Pre-approval sets the foundation for your home-buying process by giving you a clear understanding of your budget, streamlining the offer process, and showing sellers you’re ready to act. But it’s about more than just your income—lenders take a comprehensive look at your financial picture, which can make or break your approval. Let’s explore why pre-approval should be your first move as a serious buyer, the potential complexities involved, and how to navigate them.

What Is Pre-Approval, and Why Is It Essential?

Pre-approval is a lender’s initial review of your financial situation to determine how much mortgage you qualify for. This isn’t just an estimate—it’s a formal process that looks at your income, debts, credit history, and down payment. With pre-approval, you’ll know exactly how much you can spend, giving you the confidence to search for homes within your price range.

For serious buyers, pre-approval offers several key benefits:

• Clear Budgeting: Know what you can afford before you start house hunting.

• Strengthened Offers: Sellers see pre-approved buyers as serious and reliable.

• Time Savings: Eliminate guesswork and focus on homes you’re qualified to buy.

Why Income Alone Isn’t Enough

While your income is a critical piece of the puzzle, it’s far from the only factor lenders consider. Here are some of the other elements that can significantly impact your pre-approval:

1. Credit History and Score

   • A strong credit score (typically 660 or higher) shows lenders that you’re a reliable borrower.

   • Late payments, high credit utilization, or past bankruptcies can lower your approval odds, even with a high income.

2. Debt-to-Income Ratio

   • Lenders assess how much of your monthly income goes toward paying debts like car loans, student loans, or credit cards.

   • Your Gross Debt Service (GDS) ratio should stay under 39%, and your Total Debt Service (TDS) ratio under 44%.

3. Mortgage Stress Test

   • In Canada, lenders apply a stress test to ensure you can handle higher interest rates. They calculate affordability using either the benchmark rate (5.25%) or your contract rate +2%, whichever is higher.

4. Down Payment

   • The size of your down payment affects both your mortgage approval and monthly payments. Down payments start as low as 5% for an insured mortgage and 20%+ for an uninsured mortgage. In expensive markets like Vancouver, 5% is the only way to get into a market.

5. Additional Costs

   • Property taxes, closing costs, and maintenance expenses are all part of homeownership and factor into your overall affordability.

What If I Currently Own a Home?

If you already own a home, the pre-approval process can still be complex. Owning property might give you equity to leverage, but it can also come with complexities:

1. Mortgage Payout Penalties

   • If you’re breaking your current mortgage early, you may face penalties. These can vary depending on your lender and the terms of your mortgage.

   • Some lenders offer portable mortgages, allowing you to transfer your existing mortgage to a new home without penalties.

2. Bridging the Gap

   • If you’re buying before selling your current home, you may need bridge financing to cover the gap between closing dates.

3. Calculating Your Equity

   • Your home’s current market value minus any outstanding mortgage balance represents your equity, which can be used as part of your down payment for the new property.

4. Not Always a Slam Dunk

   • Even with home equity and a solid income, other factors like debt levels or credit issues can still complicate approval.

Consult the Experts

Navigating these complexities is where professional advice is invaluable.

• Speak with Your Mortgage Professional: A mortgage broker or lender can help assess potential penalties, financing options, and whether porting your mortgage makes sense.

• Lean on Your Realtor: A good real estate agent will have strong mortgage contacts to connect you with professionals who understand your unique situation.

How Pre-Approval Prepares You to Make an Offer

Being pre-approved gives you the tools you need to act quickly and confidently when you find the right home. Here’s how it helps:

1. A Competitive Edge

   • In a competitive market, a pre-approval letter shows sellers you’re financially ready to buy, making your offer more appealing.

2. Streamlined Decision-Making

   • With a clear budget, you can narrow your search to homes you can afford, saving time and avoiding disappointment.

3. Fewer Delays

   • When you’re pre-approved, much of the financial review process is already complete, allowing you to close faster once your offer is accepted.

And How Do I Do It?

Getting pre-approved is easier than you might think. Here are the steps:

1. Choose a Lender or Mortgage Broker

   • Research different lenders and brokers to find one that offers competitive rates and personalized service. A broker can compare multiple lenders for you.

2. Gather Your Documents

   • Most lenders will require:

     • Proof of income (pay stubs, T4s, or tax returns for the self-employed).

     • Bank statements to verify your savings and down payment.

     • Details of existing debts like car loans or credit cards.

     • Government-issued ID.

3. Check Your Credit Score

   • Lenders will pull your credit report as part of the process, but it’s a good idea to check it yourself beforehand to catch any errors or red flags.

4. Submit an Application

   • Fill out the pre-approval application with your chosen lender. They’ll review your financial situation and provide a pre-approval letter indicating how much you qualify for.

5. Understand the Terms

   • Your pre-approval will specify the maximum amount you can borrow, your estimated monthly payments, and the interest rate (often locked in for 90–120 days).

6. Stick to Your Budget

   • Just because you’re approved for a certain amount doesn’t mean you should max it out. Consider leaving room for property taxes, home maintenance, and other costs.

Ready to Get Started?

Getting pre-approved isn’t just about meeting lender requirements—it’s about setting yourself up for success. From understanding your budget to preparing for additional costs, pre-approval ensures you’re fully equipped to make a strong offer and secure your dream home.

If you’re serious about buying, don’t wait to take this critical first step. I can connect you with trusted mortgage professionals and guide you through the entire process. Ready to get pre-approved and move forward with confidence? Let’s talk today!