How Much Have New House Prices Risen This Year in Montreal? June 2018

According to Statistics Canada’s New Housing Price Index, new house prices in Montreal have risen faster this month than in any other Canadian metropolitan area. The New Housing Price Index tracks changes in the price of new construction single-family houses, townhouses and other residential properties. It has crept up by 1% between May and June, after four months of stagnation. New homes…

How to Sell Your Home in a Seller’s Market – Montreal

In the past year, Montreal has rapidly shifted from a buyer’s market to a seller’s market. With more buyers competing for fewer homes, homeowners are more likely to see high appreciation rates, bidding wars, and offers over the asking price. Generally speaking, homes sell much faster when market conditions favour sellers. With the right strategy, sellers can take full advantage…

This is What a $500,000 Budget Buys in the Montreal Duplex Market

According to QFREB’s latest report, Montreal’s ‘plex market performance has soared over the past twelve months. Duplexes and multiplexes are popular investment options, as they allow the homeowner to occupy one of the units while gaining passive income from the others. The average price of a residential duplex in Montreal,  $510,000, sits just above the average price of a single family…

Your Mortgage Application Was Denied…Now What?

Rejected mortgage applications have become increasingly common since Canada’s B-20 Guidelines were implemented in January. The new mortgage stress-test holds buyers up to stricter standards, requiring them to qualify at 4.99% or 2% over the benchmark rate. As a result, recent buyers have lost a significant amount of purchasing power, and some have found their applications denied entirely. What should…

Where Can You Buy a Montreal Condo for Less Than Average?

Is it expensive to buy a condo on Montreal Island? It depends on what you’re looking for — and where you’re willing to live. Some buyers pay top dollar to live within walking distance of their workplace, while others prefer a longer commute in exchange for more square footage. Luckily, because of Montreal’s affordable real estate prices (when compared to…

The Best Montreal Neighborhoods for Young Couples: 2018

Which are the most popular Montreal boroughs for young couples buying their first apartment or home? To find the best neighborhoods for young couples, we asked our team of brokers to rank each neighbourhood according to the criteria most commonly desired by young buyers: affordability, access to public transportation, proximity to the Downtown core, and a unique community vibe. In…

Canadian Millennials Most Likely To Become Landlords – A CIBC Report

According to a CIBC poll on rental properties, millennials are more likely than any other age group to rent out their homes – or rooms in their home,  for extra income. Almost half od millennials polled (47%)  were already landlords (30%), or planed to rent out their properties in the future (17%). In contrast, only 29% of homeowners between the…

Is a Rental Property a Good Investment in Montreal?

Owning an income property can be a great way of saving for retirement and gaining passive income, all while growing your equity. Unlike the stock market which is volatile, a well-selected rental property brings consistent long term returns, and can eventually be passed on to your children or partner. When owning an income property, there are two ways you will…

Clients Ask: How Much Does It Cost To “Flip” Real Estate In Montreal?

This week, we received a question about fixing and flipping a residential property in Montreal. Q: I’m considering buying an undervalued townhouse to fix up and sell at a profit. How much should I estimate in terms of renovation and carrying costs? Is there a rule of thumb for this type of work in Montreal? A: When buying a property to…

Clients Ask: How Do I Research a Condo Developer in Montreal?

This week, we received a question about doing market research on real estate developers and condo projects in Montreal. Q: I’m planning on buying a new-dev condo in St Henri. How much research should I do on the researcher, and where can I find unbiased information? A: Whether buying a new development as a pre-construction unit or at a later stage…

Montreal Boroughs Ranked According To 5-Year Appreciation

When buying real estate, selecting an area with a good appreciation rate is an important way of building equity over the long run. If you buy at home at $400,000 and the home appreciates at a rate of 5% annually, you will have grown your equity by $20,000 a year, or $110,512 over five years. We’ve ranked the boroughs in the Montreal…

Clients Ask: Is it True That Homes Are Selling At A Record Pace in Montreal?

This week, we received a question about Montreal’s market conditions. Q: I read that the market currently favours sellers in Montreal, and sales activity is at a record high. Does that mean that homes are selling faster too? How fast can I expect my home to sell in 2018? A: It’s true that Montreal’s real estate market favours sellers in…

Calculator: How Long Does it Take To Sell A Home in Montreal?

One of the first questions we receive from sellers is how quickly they should expect their home to sell. Estimating “days on market” is important because it allows the seller to plan their next move, whether it be upgrading, downsizing, or temporarily relocating to a rental. In a “seller’s market,” it could take as little as a week for a…

Clients Ask: Should I Buy a Home Without Legal Warranty?

This week, one of our buyers asked us a question about a listing they had found using our online property search.  Q: I’ve found a home that meets all my criteria, in my neighbourhood of choice, and below budget! But there’s a catch – it’s being sold without legal warranty. Is it worth the risk to buy an older construction…

Clients Ask: What is a Good Cap Rate for Real Estate in Montreal?

This week, a client asked about CAP rates for revenue properties (multiplexes) in Montreal: Q. I recently moved from Toronto to Montreal and have decided to purchase a rental investment property. What is considered a “good” CAP rate for an investment property in Montreal?  A: CAP rate is one of the first metrics a real estate investor will look at when…

Montreal Real Estate: Should I Buy a Multiplex in 2018?

Multiplexes are a popular option for Montreal investors, due to the lucrative returns they offer on your capital investment (your downpayment and purchase costs). But buying a revenue property requires more number crunching than buying a primary residence, since you will need to look at rental rates, ROI, cap rate, and other metrics not typically considered when buying a home…

8 Tips For Buying A Montreal Condo In 2018

Condos are currently the fastest growing property type in Montreal, with average prices falling far below those of single family homes or townhouses. Many buyers prioritize the central location and convenience associated with condo ownership, trading in square footage for affordability and amenities. Here are some tips for buying a condo in Montreal this year: Start with a pre-approval A pre-approval…

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