CMHC Explores Cutting Red Tape for Self-Employed Borrowers

Canada’s National Housing Corporation (CMHC) is restructuring its qualification requirements in order to make it easier for self employed workers, entrepreneurs and new immigrants to attain homeownership. This involves removing some of the red tape currently required in applying for a mortgage loan. “Right now, under our mortgage insurance policies, you have to be able to document income to get…

Best Montreal Neighbourhoods for Young Families

From square footage to greenery and schools, there are plenty of factors worth considering when choosing where to home your growing family. Here’s a list of our favourites Montreal neighbourhoods for homeowners with young children: Best budget-friendly option: Rosemont  On the East-end of the Greater Montreal Area, between Little Italy and the Olympic stadium, is a neighbourhood that has gained…

What are Monthly Homeownership Costs in Montreal?

Reading Time: 2 minutes, 30 seconds As a homeowner you can expect to pay carrying costs every month, which include your mortgage fees, taxes, and utility bills. Predicting your carrying costs is an important part of budgeting for your home’s purchase. Here are some of the monthly homeownership costs you’ll pave to pay every month in Montreal and in other…

Montreal Real Estate Market Update: September 2017

Reading time: 3 minutes, 2 seconds Montreal students build sustainable home for Chinese competition Source: CTV news Students from Concordia and McGill universities have been selected to show off their designs for an energy efficient homes in the 2018 Solar Decathalon competition in China.  The project has been 18 months in the making, and brings together students from engineering, design,…

Should you buy a Fixer-Upper in Montreal?

To many buyers, finding a property below market value to renovate into your dream home is an exciting concept. For some, it’s a means of getting a larger house, or in a neighbourhood than they would not be able to afford otherwise. For others, it’s an opportunity to transform a living space to their own tastes and artistic visions. That…

Team Coderre’s Program Aims to Facilitate Homeownership

Reading Time: 1 minute, 30 seconds The Greater Montréal Real Estate Board (GMREB) is in agreement with Team Coferre’s goal to increase levels of homeownership in Montreal. Team Coderre wants to invest $17 million into Montréal’s first-time buyer program, which helps first time buyers attain homeownership by allowing them to tap into their RRSPs for an interest free loan. The program will now include…

What Are Pocket Listings And How Do You Find Them?

Reading Time: 4 minutes, 2 seconds  “Pocket listings,” or “whisper listings” have become popular options for residential and commercial investors over the past year in Montreal. Multiplex and high end real estate sellers are increasingly choosing this option as a way of discretely marketing their home.  . If you’re new to the term, here’s an overview of everything you should…

How Much Do Duplexes Cost in Montreal?

Reading Time: 3 minutes, 12 seconds If you’re preparing for homeownership, chances are you’ve considered subsidizing your mortgage costs by buying a duplex and renting out half of it. This post will give you an idea of how much it costs to purchase a duplex in the different boroughs of Montreal. *Please note that this list is based on Centris…

City of Montreal Launches New App and Website

This week, the city of Montreal unveiled a digital platform that aims to help its residents stay connected. Mayor Denis Coderre calls this project a move towards the city’s transformation into a smart, digital network. Users will be able to register up to 5 addresses and receive notifications on snow removal, neighbourhood events, and emergencies. It also allows Montrealers to report problems…

Montreal Emerges as Canada’s New “Luxury Hotspot”

Reading Time: 40 seconds According to a new report by Sotheby’s International Realty, Montreal is emerging as a luxury real estate “hot spot,” while Toronto and Vancouver are experiencing a sluggish period expected to pick up after the fall. Related: Toronto vs Montreal: A Comparison for Real Estate Investors The optimism in Canada’s real estate comes despite a slew of…

Selling a Property on MLS vs Selling Privately

Reading Time: 2 minutes, 30 seconds When deciding to sell a home or an investment property, you will have to choose between listing the home on MLS, selling on your own on an FSBO website, or a private sale with the help of a broker. Each options appeals to a different type of seller, and comes with its own advantages…

Montreal Real Estate Market Update: August 2017

Reading Time: 2 minutes, 10 seconds According to the Greater Montréal Real Estate Board, home sales in Montreal’s residential real estate market reached record highs this August, led by condominium sales. Here is a summary of the GMREB’s findings: 2,899 residential sales closed in August 2017, which is 8% higher than the figure recorded in August 2016. This was the…

Montreal House Price Index August 2017

The Teranet-National Bank House Price Index™ released its August report today. The index is an independent representation of the change in average home prices over time  in Canada’s eleven metropolitan areas: Victoria, Vancouver, Calgary, Edmonton, Winnipeg, Hamilton, Toronto, Ottawa-Gatineau, Montréal, Québec City, and Halifax. All indices started at a base value of 100 in June 2005. So, for example, an index…

How to Structure a Real Estate Portfolio

Reading Time: 1 minute, 30 seconds How your investment portfolio is structured will affect your cash flow and taxation amounts. Once you’ve considered buying more than one rental property, you may want to think about how to organize your investment ownership. Here is a quick guide for beginners on how to structure your real estate portfolio. How to Structure a…

Where can I find off-market properties in Montreal, Quebec?

Off-market properties and other privately sold listings have traditionally been the purview of the luxury real estate market as well as the commercial market. Properties over the 5 million mark are typically marketed on a word of mouth basis within a circle of well connected agents and investors, instead of being advertised publicly on MLS. In recent years the private…

Advantages of Selling a Property Privately, Off Market

Reading Time: 2 minutes, 30 seconds There are multiple reasons why a seller would want to avoid listing their property publicly on Centris, while still engaging the help of a real estate professional. Selling privately / off-market is a common practice when it comes to luxury homes, as well as commercial investment opportunities. By marketing your home privately, you can…

Airbnb is Now Fully Legal in Quebec under Landmark Deal

Reading Time: 1 minute, 30 seconds Airbnb and Quebec’s government have struck a deal in which Airbnb will be allowed to operate legally while remitting a “tourist tax” on short term rentals, on behalf of its hosts. Representatives from the home sharing platform and the provincial government sealed the deal at a conference in Montreal on Tuesday. The agreement, which…

A Guide To Real Estate Taxes in Montreal

Reading Time: 2 minutes 5 seconds Property taxes are inevitable carrying costs that come with homeownership, regardless of whether you’re buying your first home or adding to your real estate portfolio as an investor. Here is a guide to real estate taxes in Montreal, which will help you budget for your investment and stay on top of your accounting. Expected…

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