Things To Consider When Buying A Condo In Montreal
Before taking the leap...
Montreal is definitely becoming a condo city. A new development is going up on every corner. Buying a condo can be an exciting and at the same time an intimidating process. It is unquestionably a big investment. Before going on this adventure, there are a few crucial things people should consider especially as a first time buyer. It is essential not only to evaluate all the possible options, but also try to make the right decision that will fulfill all your needs.
Setting up your budget
Before starting, it is important to set up a realistic budget. You will have to take into consideration that when buying a condo you will also have to deal with some other factors such as closing costs, moving expenses, welcome tax and notary fees.
Deciding on a location
A way to get a good deal is to buy condos in “pre-construction”. There are a number of reasons why investing in preconstruction real estate is something to consider. One being, prices tend to be a lower initial value than what it will be once construction is completed. In the long run, you will have a significant return on your investment.
After taking care of your finances, now you can think about where you would like to live. When looking for the right neighbourhood, it is important to have a balance. A place where everything you consider important is near and is accessible. You can visit the neighbourhood at different times of the day and ask yourself, does it suit me? If not, keep looking and narrowing your area of interest, you’ll not only narrow your search but will reduce search time.
Anticipating your needs
Keep in mind, knowing in advance what you want in your condo will save you a lot of time. Prepare a list of all your must-haves. Truthfully, sometimes you won’t necessarily find all of your must-haves in one condo, so know ahead of time which of them you are willing to give up.
Montrealers are rediscovering the joys of urban living and buying condos. Nowadays, condos have a variety of in-house features to make your life easier: common areas, a fully equipped gym and a rooftop terrace among many other modern amenities.
Once you take into consideration the recommendations given above and are ready to explore your options, you can begin this adventure and choose your dream condo in Montreal!