Updated from our "Buying Real Estate" Archives. Originally posted in December 2008 By Brian Madigan LL.B. We all know the type: they look, look and look, but they never buy. For some strange reason, however, they keep on looking! Five or ten years can easily pass, then they kick themselves for all the deals they have missed. Frequently, they can often recite all the features of a home … [Read more...]
How to Protect Yourself When Buying New Construction
Following up with the article: New Condo Building Collapsing. Another great article by William Marsden from the Gazette, on how to protect yourself when buying new construction. The tips are quite interesting, I will add my own comments between the square brackets [ ] The New Home Guarantee covers new condos that are part of small, one-to-fourstorey condo buildings. Highrise condo buildings are … [Read more...]
Filed Under: Buying Real Estate, Development & Construction, First Time Buyer Tagged With: condo buying, Insurance
No Escrow in Montreal
We don't hear about Escrows in Montreal. Believe it or not, my fellow Real Estaters (I think I just created a new word) from other provinces and countries. The first time I heard, actually I didn’t hear it, I READ the word Escrow it was in a Condo Buyer’s Guide I picked up for my clients, and right next to the glossary description of escrow there was a note: Not applicable in … [Read more...]
Filed Under: Buying Real Estate, Real Estate Law Tagged With: Buying, condo buying
What’s Included on the Closing Costs?
To first time buyers, closing costs are always sort of a mystery: They have a slight idea of what it is, but don’t know what’s specifically involved or how much it will cost. Many people think it is just the notary fee and that’s all. Sorry folks, that’s not just it. In addition to the mortgage down-payment, you (the buyer) will need to put aside some money for the costs related a … [Read more...]
Filed Under: Buying Real Estate, First Time Buyer Tagged With: Buying, Tax
2009 December’s Market: Looking Good
December’s market seem to be very active this year. No need for the monthly sales stats to confirm that. Normally it is a slow month, because of the Holidays. Most people are into Christmas shopping, Christmas dinner parties, and little time to seriously visit homes. But there are still buyers calling for information and getting their finances ready for the next year - which is only a few weeks … [Read more...]
Filed Under: Buying Real Estate, Selling Real Estate Tagged With: home selling, Selling, Selling tips
Buying an Income Property to Live in
There is a fundamental difference between buying a property solely for investment purposes and buying it to live in it. We all want to live rent-free. Having the revenues cover all of the expenses, including the unit we occupy. And while all of this is feasible, it is important to mention that certain factors affect this outcome: size of the building, revenues, etc. So let's take a look at what … [Read more...]
Filed Under: Buying Real Estate, First Time Buyer Tagged With: Income Property, Investment
Investing in Montreal: What is the next trendy district ?
Another good video blog-post by McGill Real Estate Blog. Patrice Groleau explains the main differences between the East and West areas of Montreal, and why it is better to consider investing on the west side. Here is the video. Enjoy! … [Read more...]
Filed Under: Buying Real Estate, Montreal Real Estate Tagged With: investing, montreal neighbourhoods, video blogging
Lets connect