{"id":9217,"date":"2016-12-07T11:35:30","date_gmt":"2016-12-07T11:35:30","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=9217"},"modified":"2018-02-14T11:28:30","modified_gmt":"2018-02-14T11:28:30","slug":"a-complete-guide-to-buying-a-new-condo-in-montreal","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/a-complete-guide-to-buying-a-new-condo-in-montreal\/","title":{"rendered":"A Complete Guide to Buying a New Condo in Montreal"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p>There\u2019s nothing quite like the feeling of stepping into your dream <a class=\"wl-entity-page-link\" title=\"houses\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/house\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/house;http:\/\/rdf.freebase.com\/ns\/m.03jm5;http:\/\/dbpedia.org\/resource\/House\" >house<\/a> and finally calling it your own. Nothing beats seeing the fruits of your hard-earned money in the form of a new <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home;http:\/\/rdf.freebase.com\/ns\/m.01l0mw;http:\/\/dbpedia.org\/resource\/Home\" >home<\/a> \u2013 bright, beautiful and everything you dreamed it would be.<\/p>\n<p>That said, <a href=\"http:\/\/www.huffingtonpost.ca\/2016\/04\/16\/canada-real-estate-projections_n_9648448.html\">trends<\/a> show that Canada\u2019s house prices will continue to go up in the next decade, making it a little more challenging for people to buy their dream house. Upgrading from a <a class=\"wl-entity-page-link\" title=\"Condominium\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/condominium\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/condominium;http:\/\/rdf.freebase.com\/ns\/m.020ys5;http:\/\/dbpedia.org\/resource\/Condominium\" >condo<\/a> unit to a house isn\u2019t exactly cheap either, and this is why more and more people are seeing the <a class=\"wl-entity-page-link\" title=\"Value (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/value-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/value_economics;http:\/\/rdf.freebase.com\/ns\/m.0bhr4z;http:\/\/dbpedia.org\/resource\/Value_(economics)\" >value<\/a> of buying condos instead.<\/p>\n<p>While the <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/real-estate\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/real_estate;http:\/\/rdf.freebase.com\/ns\/m.023907r;http:\/\/dbpedia.org\/resource\/Real_estate\" >real estate<\/a> market is always a tough one, Canada <a class=\"wl-entity-page-link\" title=\"Mortgage loan\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/mortgage-loan\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/mortgage_loan;http:\/\/rdf.freebase.com\/ns\/m.0273t5w;http:\/\/dbpedia.org\/resource\/Mortgage_loan\" >Mortgage<\/a> and Housing Corporation\u2019s <a href=\"http:\/\/www.marketwired.com\/press-release\/housing-market-outlook-for-2016-and-2017-montreal-cma-2126155.htm\">housing market outlook<\/a> for 2016 and 2017 show that the condominium market, at least, will continue to be favourable to buyers. It\u2019s easy to get overwhelmed with the whole process of finding the condo that\u2019s best for you and then actually buying it, but there are ways to make this process easier.<\/p>\n<p>If buying a new condo in Montreal is part of your <a class=\"wl-entity-page-link\" title=\"Plan\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/plan\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/plan;http:\/\/rdf.freebase.com\/ns\/m.018jrr;http:\/\/dbpedia.org\/resource\/Plan\" >plans<\/a>, below are some tips you shouldn\u2019t forget:<\/p>\n<ol>\n<li><em>Assess your situation and set your goal<\/em><\/li>\n<\/ol>\n<p><a href=\"http:\/\/montrealgazette.com\/business\/local-business\/real-estate\/montreals-new-condo-scene-a-buyers-market-of-high-supply-and-flattening-prices?__lsa=6023-249d\">Statistics<\/a> show that in recent years, the biggest demographic of condominium buyers in Montreal are under 35 years old. It would make sense that the people attracted to condo units would be young professionals and young families, but baby boomers are now also seeing the advantages of condo living. After all, condos cost significantly less than houses, they tend to be more accessible, and plenty of <a class=\"wl-entity-page-link\" title=\"Amenity\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/amenity\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/amenity;http:\/\/rdf.freebase.com\/ns\/m.0f3yyn;http:\/\/dbpedia.org\/resource\/Amenity\" >amenities<\/a>.<\/p>\n<p>Regardless of how old or young you are, buying a new condo unit should always begin with planning your finances. Think about your current situation \u2013 how much money you\u2019re earning, what your financials look like in the next couple of years, and how much you\u2019re willing to set aside initially and regularly for your housing. It\u2019s good to dream big, but setting a ceiling beforehand will save you from a <a class=\"wl-entity-page-link\" title=\"Land lot\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/land-lot\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/land_lot;http:\/\/rdf.freebase.com\/ns\/m.0gs32y;http:\/\/dbpedia.org\/resource\/Land_lot\" >lot<\/a> of hassle later on.<\/p>\n<p><em>\u00a0<\/em><\/p>\n<ol start=\"2\">\n<li><em>Explore your options<\/em><\/li>\n<\/ol>\n<p><em>\u00a0<\/em>Once you\u2019re sure about what you want and how much you can afford, then you can start looking at your options. Because you already have a price range to guide you, you can then look at specific neighbourhoods and narrow down your options from there.<\/p>\n<p>When looking at where you want to live, you need to consider many factors. For one, how accessible is this unit and how close is it to your workplace? If you have young children, you should also consider the schools in the area or the availability of day care. Is it located near a shopping centre? Is public transportation readily available?<\/p>\n<p>Once you\u2019ve got your options narrowed down by location, you can then look at the specific amenities offered by the actual condominium, and how suitable they are to your needs. Value for money is also very important, so you would want to compare your choices and look at how they differ from one another.<\/p>\n<p><em>\u00a0<\/em><\/p>\n<ol start=\"3\">\n<li><em>Get some help<\/em><\/li>\n<\/ol>\n<p>The <a href=\"https:\/\/www.mondev.ca\/resources\/buying-a-condo-in-montreal\/\">best thing about buying a new condo in Montreal<\/a> is that you don\u2019t have to do it alone. Everything is also readily available online, so you can have all the information you need without having to even leave your desk. Go for well-respected and highly-rated real <a class=\"wl-entity-page-link\" title=\"Estate (land)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-land\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/estate_land;http:\/\/yago-knowledge.org\/resource\/Estate_(land);http:\/\/rdf.freebase.com\/ns\/m.038t8_;http:\/\/dbpedia.org\/resource\/Estate_(land)\" >estate<\/a> developers, and you will hardly go wrong. They will be there to guide you every <a class=\"wl-entity-page-link\" title=\"Stairs\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/stairs\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/stairs;http:\/\/rdf.freebase.com\/ns\/m.01lynh;http:\/\/dbpedia.org\/resource\/Stairs\" >step<\/a> of the way, and even give you the after-sales support that you deserve.<\/p>\n<p>In <a class=\"wl-entity-page-link\" title=\"term\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/contractual-term\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/contractual_term;http:\/\/yago-knowledge.org\/resource\/Contractual_term;http:\/\/rdf.freebase.com\/ns\/m.02rfhkx;http:\/\/dbpedia.org\/resource\/Contractual_term\" >terms<\/a> of financing, you have many options of where you can apply for mortgage. Additionally, the Canadian government is there to support you all the way. <a href=\"http:\/\/ville.montreal.qc.ca\/portal\/page?_pageid=9437,116689570&amp;_dad=portal&amp;_schema=PORTAL\">Montreal\u2019s Access \u00e0 la Propri\u00e9t\u00e9 Grant Program<\/a> gives financial assistance to those who are buying a <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a> for the first time. Under certain conditions, these benefits include a lump sum when you purchase, a refund of your \u201cwelcome tax\u201d, and 6 months of free public transit on purchase of a one-year OPUS full-fare pass.<\/p>\n<p><em>\u00a0<\/em><\/p>\n<ol start=\"4\">\n<li><em>Strike while the iron is hot<\/em><\/li>\n<\/ol>\n<p><em>\u00a0<\/em>If you\u2019re asking when the right time to buy a condo is, it\u2019s really when you\u2019re ready. As early as possible, you must already do your homework and scout for your options. Most of the time, you get the best condo at the best price by really having the patience to look at all your options and having the right connections and support.<\/p>\n<p>Before making the actual purchase however, you should also take a look at other factors like having to buy parking space for instance. There are parts of the fancy amenities package that are optional, so have a think about whether or not this is really necessary to you.<\/p>\n<p>If you HAD to pick a time of year to buy a condo, try the months when the real <a class=\"wl-entity-page-link\" title=\"Estate (law)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-law\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/estate_law;http:\/\/rdf.freebase.com\/ns\/m.038t85;http:\/\/dbpedia.org\/resource\/Estate_(law)\" >estate<\/a> market is relatively slow, and other people are too distracted to look for their own condos. The holiday months of December and January are good times, as well as June and July. You should also remember that there are promotions and discounts that you can watch out for. This will give you a good deal from your <a class=\"wl-entity-page-link\" title=\"development\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/real-estate-development\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/real_estate_development;http:\/\/rdf.freebase.com\/ns\/m.028sdw;http:\/\/dbpedia.org\/resource\/Real_estate_development\" >developer<\/a> or seller, and help you save a lot of money.<\/p>\n<p>Having said that, you shouldn\u2019t wait for too long and keep overthinking if you\u2019re getting the best deal out there. You have to remember that <a class=\"wl-entity-page-link\" title=\"Market (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/market-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics;http:\/\/dbpedia.org\/resource\/Market_(economics)\" >market<\/a> conditions fluctuate, and the current trends show that prices are only bound to increase. You don\u2019t want to wait for prices to skyrocket. So strike while the iron is hot.<\/p>\n<p><em>\u00a0<\/em><\/p>\n<ol start=\"5\">\n<li><em>Move into your new home<\/em><\/li>\n<\/ol>\n<p><em>\u00a0<\/em>Once you\u2019ve figured out all the paperwork, emptied your wallet, and received the title and key to your very own condo unit, take a deep breath and enjoy it. Furnish it, make yourself at home, and remember that you worked hard for this condominium. It may not be your dream house just yet, but it\u2019s still yours.<\/p>\n<p>&nbsp;<\/p>\n<p>I hope these tips will be able to help you make the right choice when buying a new condo. Good luck!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s nothing quite like the feeling of stepping into your dream house and finally calling it your own. Nothing beats seeing the fruits of your hard-earned money in the form of a new home \u2013 bright, beautiful and everything you<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/a-complete-guide-to-buying-a-new-condo-in-montreal\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":9218,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[7],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2016\/12\/montreal-image.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/a_complete_guide_to_buying_a_new_condo_in_montreal","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/9217"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=9217"}],"version-history":[{"count":3,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/9217\/revisions"}],"predecessor-version":[{"id":14470,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/9217\/revisions\/14470"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/9218"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=9217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=9217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=9217"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=9217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}