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Describing Homes: what’s a 3 1/2 and all those numbers means.

Deya Bautista — Wed, 25 Feb 2009 15:46:41 +0000

If you are new to Montreal, you’ve probably seen the descriptions for the living space, apartments or homes, signs with 2 ½, or 5 ½ as opposed to “one bedroom condo/home” or “3 bedroom apartment” sort of thing. If you haven’t figured it out yet, here is a quick (and hopefully clear) explanation.

Understanding the way we describe apartments in Montreal can be quite simple once you keep these tips in mind.

First and foremost, remember that the “1/2″ half part, always refers to a bathroom.
After that, every room is counted.

For example:

One (closed) bedroom apartment with a separate kitchen is considered often as a 3 ½. Here is the count:
1 room for living/dining space.
1 room for the kitchen,
1 room for the bedroom.
½ the “half” – which is the bathroom.

Smaller units are quite simple:
1 ½ is often a studio. One large room with a separate bathroom.
2 ½ could be either a closed bedroom with open concept kitchen/living/dining room or could also mean a studio with a closed kitchen. In this case the bedroom and living/dining spaces are all open.

For the 4 ½ , is often referred to a 2 bedroom unit but it can also mean: a one bedroom, separate kitchen, living room, dining room and a bathroom (total 4 rooms and ½). It’s always good to ask how many closed bedrooms it has.

5 ½, same thing. 5 divided rooms and a bathroom.
Variations: 3 bedrooms, living/dining room (in one space), separate kitchen and bathroom.

There are many variations to the larger units, from 5 ½ and up. To know what kind of apartment you’re about to see, it will only take one question: How many closed bedrooms? Then you can do your own math from there.

Keep in mind that sometimes an apartment (or house) can be described as a 2 or 3 bedroom unit BUT if one of those closed room do not have its own window should not be considered a bedroom.

Opinions and amplifications are encouraged in the comments!

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Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/

Condo Hunting: Price, Area and Size Matters

Deya Bautista — Mon, 09 Feb 2009 17:41:55 +0000

Lately I’ve been getting a lot of calls from buyers requesting condos in the downtown area for under 150,000. While we do have them in the system, a lot of these properties are either “fixer-uppers”, small in square footage or located in the basement and/or semi-basement (terrace level)

Remember that the price will be set according to certain factors: Location by neighbourhood (Downtown, Old Port, Plateau, NDG, Rosemont, etc), the floor level (for example: a top floor condo will be priced higher than the ones in the first floor or terrace) and if it includes a garage or parking, among others.

If your max. price does not match your criteria, perhaps you should look into different areas of the city that offer more space for lower price. Or accommodate your criteria in order to stay within the budget of the area you’d like to live in.

Revise the size of the property, if you have a max of 120K and you’re looking for a 1200 sq ft condo downtown…well, I don’t think it will be that easy to find. Just think: either you stay downtown, in a condo with less space or (again) find an area that is more affordable.

Keep in mind that a garage adds an extra value to the property, the average price for outdoor parking space is anywhere from $10,000 to $15,000. Indoor parking (Garage) $20,000 to $35,000, depending on the area.

Although the Montreal Real Estate Board gave us an average price for condos in Montreal, the numbers are quite general.

Median Price. Sold Condos in the last 6 months.

These result were taken from the MLS database of sold condos with the following criteria:
2 bedrooms, 1 bathroom, levels: from ground floor and up.

Rosemont: 850-1000 sq ft with garage: $212,100

Old Montreal: 1000-1175 sq ft with garage $354,800

NDG: 800-1000 sq ft. No garage $219,000

Ville-Marie (excluding Old Montreal) 800-1000 sq ft. No garage. $241,000.

Plateau and Mile End: 800-1000 sq ft. No garage. $238,500. And a minimum price of $180,00

*Disclaimer: Statistics taken from the average sold prices from the last six months from the mls database. While believed to be accurate they are not guaranteed. Numbers provided may vary as they are dynamically posted.

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Looking to buy a condo in the next few months? Contact me to assist you in your home hunting!.

Who pays the buyer’s agent?

Deya Bautista — Sun, 14 Dec 2008 23:06:26 +0000

If you are in the market to buy a home for the first time, and never have used the services of an agent who represents buyers, it’s important for you to know that this service is free.

One of the most common questions from first time buyers is:
How much does a buying agent (or agent representing the buyer) charge in commission?

The answer will be: Zero.

The buyer’s agent (representing the buyer) works in collaboration with the listing agent (who represents the seller). The Listing agent will share the commission with the buyer’s agent if a sale takes place between the two parties.

This is how it works:

Mr seller decides to list their property with agent X (Listing agent). They write up an agreement (brokerage contract) in which, the asking price, description of the immovable, length of the contract (etc, etc, etc) and the service fee (commission) is set.

If a successful sale was made from a buyer brought by a collaborating agent, the commission will be shared.

So, who pays the buyer’s agent? The seller does.
It’s the seller who signs the contract, agreeing to pay the commission to the listing broker/agent, and (when applicable) shares it with the collaborating agent when a sale is made.

The buyer himself, already has many expenses to cover: down-payment, welcome tax, notary fees, etc. One thing that you don’t have to worry about (as a buyer) is to pay for the extra expense of an agent representing you. It’s free