Welcome to Mondev, a leading real estate developer in contemporary Montreal condos offering incomparable real estate value. Our condo developments are nestled in many of the city’s prominent neighborhoods, bringing you closer to the charms and comfort Montreal has to offer. The modern architecture of our residences, designed for both convenience and comfort, provides lasting value in both historic locations and up-and-coming areas at affordable prices. Transforming how you live starts with where you live. Let us guide you on the path of discovering your ideal condo.
Excellence is Our Priority
Constructing new condos in Montreal takes supreme skill, an attention for detail, and the know-how to create a habitable space that is sound and secure. With over two decades of experience, we expect every development to reach our high-caliber expectations. We employ the best in the business matching our high standards. From designers, to planners, to construction specialists, our condos are the combined effort of our expertise. We don’t simply build condos; we create move-in-ready homes to your specifications. Affordability and accessibility are our highest priorities so you can feel at ease in your modern space in the city.
Condos Made For Every Montrealer
The real estate market has rapidly shifted in the last decade, and that means a growing variety of people to whom we cater. While most new condo buyers (and first-time homebuyers overall) are under the age of 35, there’s been an increase from baby boomers as well. And the disparity with where these groups are buying is also contrasted by their immediate needs. While Millennials are searching for condos closer to downtown Montreal to eliminate travel time to work, baby boomers are seeking more suburban comforts.
We understand that the needs of prospective buyers are expanding. From new, young families to empty-nesters and retirees, our new condos throughout Montreal are built with the latest must-haves and indulgences. We know that soundproofing is key for families with young children, natural light is essential for early risers, and good views are a given for those who love to take in breathtaking views of the city.
The closer to the downtown core, the more the distinctive New York style becomes attractive for younger buyers. European charm takes centre stage in the most European city in North America with walkability to nearby places for that urban-meets-small-town feel Montrealers cherish.
Where You Live & How You Live
With our prospective buyers’ needs in mind, our condos are scattered across the island of Montreal in culturally vibrant and desirable locations. You can find Mondev condos in the following boroughs:
- South West - Atwater Market
- Ville-Marie (Downtown)
The way of life in each borough is unique, offering an experience that is similar in some ways yet different in its presentation. There is no shortage of places, activities, and shops that are a reflection of the community spirit in these areas. By introducing new condos in these parts of Montreal, we not only attempt to respond to the demand for upscale properties in many fast-growing neighbourhoods, we attract a new sense of purpose in the condo buying process.
The indoor amenities desired by prospective buyers echoes the lifestyle just outside their door. Bike parking is as important for those living in the Plateau as indoor parking is for those living in Ahuntsic. Mondev knows that space, both inside and out, is one of the most attractive aspects of condo living, and strives to fulfill your aspirations.
Condominiums for Rent and Commercial Space
Our Montreal condos not only seek prospective condo buyers, but renters and commercial buyers as well. You can find rentals currently in our Ville-Marie and Southwest locations with amenities you could never find in your typical apartment rental. A gym, air conditioning, parking spaces, and modern appliances are some of the comforts we offer. Found in key locations and very close to public transit, these reasonably priced complexes are great for students attending any of the universities in the downtown area.
Commercial buyers can choose from an array of spaces constructed with the same quality materials that you can expect from Mondev. Our properties are ideal for retail, restaurants, cafes, shops, and more at competitive prices. With a proximity to local shopping destinations, transportation routes and a customer base just above, your business can begin to thrive in any of our spaces. We have qualified agents on hand ready to offer you pertinent advice to serve you best. Fledgling investors and experienced business minds alike can find reassurance in Mondev’s services to help your business take off.
The Dollars and Cents Behind a Montreal Condo
Buying a condo in Montreal is an exciting yet daunting step forward in life. Before making any move, it’s important to understand your current financial situation and in what ways you can budget more effectively to make the purchase process pain-free.
Budgeting for Your Condo
First, determine what you can afford. Some of our Montreal condos can go for as low as $139,000, yet prices can climb based on your preferences. Creating a realistic budget will implant limitations that will benefit your wallet. Next, get to know your credit score. Knowing your credit score isn’t only helpful for major purchases, it lets you know your overall financial health. Finally, mortgage calculators. Found online, this tool estimates your monthly payments by calculating the amount financed (the amount borrowed minus the upfront fees), the terms of the loan, and the interest rate.
Once you know your financial situation, you’re ready to apply for a pre-approved mortgage from your financial institution. Pre-approved mortgages will precisely determine what you can afford and will provide a base for your condo search. Depending on one of the two types of mortgages you’re given, a conventional mortgage or an insured mortgage, it will play a major factor in what kind of condo you purchase and help you estimate your payments and interest over a period of time.
Tax Credits For Montreal Condo Owners
Among the many stresses when looking for a condo, the financial aspect is the biggest. Luckily, there are a number of financial assistance programs available for new homebuyers to ease the stress of purchasing a new condo in Montreal, enabling you to put your money to other uses such as furnishing your new home.
The Home Ownership Program offers advantageous benefits such as a lump sum in financial assistance and a refund of the “welcome tax” for families with at least one child under 18, among other benefits.
The First-Time Home Buyers’ Tax Credit (or HBTC) is a non-refundable tax credit based on an amount of $5,000 for homes that qualify. Qualifying homes must be acquired after January 27, 2009. This applies to spouses and common-law partners who acquire existing condos, newly constructed condos, and other forms of housing.
The New Housing Rebate could benefit you if you are entitled to a partial refund of the GST and QST paid when you purchase your condo.
The Home Buyers’ Plan is another financial assistance plan that aids in the purchase of your new Montreal condo. You could withdraw up to $25,000 in a calendar year from your RRSP to buy or build a home for yourself or for a related person with a disability.
With so many financial assistance programs out there to help first-time homebuyers, it can alleviate the anxiety behind unexpected costs and make finding the perfect home for you a smoother process.
Protect Your New Property
Condo construction can encounter many complications depending on the accessibility of materials, the competency of the builders, the contractor’s management, etc. To protect your new Montreal condo purchase, both mandatory and optional warranty plans are available, although it may not cover everything. A proper inspection can detect any damage or defects that could be covered under your protection plan.
The Quebec Guarantee Plan covers new residential buildings. This mandatory plan guarantees contractors fulfill certain legal obligations. This plan protects buyers’ deposits, guarantees the completion of work and any repairs, certain guarantees in case of defects in design and construction, poor workmanship, and compensation in the event of late delivery.
The optional or private new home warranty plans are not always available yet offer similar protections. Developers aren’t obligated to offer private plans. Inquire with your contractor and/or developer about these protection plans.
The Final Steps Towards Ownership
Ready to put down a deposit for your new Montreal condo? Once you sit down with the developer you will sign a preliminary contract. This contract ensures you commit to paying the agreed upon price of the property and ensures the developers build the property to the specifications outlined in the contract, and transfer ownership to the buyer in the end. The deposit is made at the signing, followed by future deposits throughout the construction project if you purchase a pre-construction condo.
Once the condo is completed, you must sign the Deed of Sale at the notary’s office. There, you’ll be provided with a copy of the Co-Ownership Declaration, your certificate of location, the keys to your unit, and a summary of the amount of deposit still owed.
You’ll then be the proud owner of a your new condo!
The purchasing process takes time and patience. Refining your hunt by narrowing your choices based on location, budget, and amenities can alleviate the stress involved. Our qualified agents can help you find the property that suits your needs and lifestyle, and answer any questions you have concerning any of our condominiums. Mondev offers ideal properties for those seeking contemporary and affordable living in the most convenient neighbourhoods in the city. Rest assured you will feel at home in your new Montreal condo.