Robert Andrews, managing consultant at Sage Condominium Consulting Corporation, says while purchasing that first, or even move-up home is the biggest financial move people will ever make, not enough take the time and “due diligence” such a commitment should warrant.

“Most people often spend more time researching a television that they do a condo, and a big reason for that is they don’t know what to look for,” says Andrews, who brings a background in risk and property management.

Andrews cites certain items of “flags” would-be condo buyers should be looking for prior to a buying decision, including, at the very least, financial health of a condo corporation, who is managing the property and whether that company is registered, and the shape of a reserve fund for capital costs.

"I have heard cases where entire boards have quit which is really a big red flag,” says Andrews, adding other findings may include boards or developers before the courts, and whether a condominium files financial statements annually.

Suitability of a buyer to a condo is another consideration often overlooked in the excitement of things, says Andrews.  “I know people who have bought a condo in a building with all concrete floors — if you are a person who doesn’t like noise, that’s not the place for you. Similarly, if you have two prized dogs and no pets are allowed you are going to be in trouble. ”

Three services are included when a client enlists Sage : a review of all documents from bylaws to the condo plan; a one-hour consultation on the findings, including a discussion on suitability; and finally, a proprietary report on the risks involved in buying the condo in question.

“The third area is probably where we differ from some of the other services out there — we do a lot of analytical work, since my background is in risk management, and come up with 50 or 60 flags or issues,” says Andrews.

In addition, Andrews expects about a fifth of his business to come from condo boards enlisting Sage’s advisory services, another function the company offers.

While Andrews would never say nay or yeah to a condo shopper, or even appraise what a property is worth, he says the information Sage offers will help would-be owners go into a purchase as knowledgeable as possible. “You really end up with a crash course in condo living,” he says.

Since starting up in September, Sage has seen its share of hits on its website and Andrews expects to be busy with seemingly no end in sight to the current Calgary condo boom.

“We’re bringing a needed service to the market,” says Andrews.

For more information visit http://www.sagecondominium.com.