You’ve been looking at real estate in Montreal for a while. You’ve found the perfect neighbourhood, and what you think is the perfect condo. But is there anything else you need to do before signing on the dotted line? It’s always a good idea to know what you’re signing up for, so without further ado, here’s a list of four questions that you should ask before you put pen to paper and buy a condo in Montreal.
How Resalable is the Condo?
Unless you plan on living in your condo for the rest of your life, it’s a good idea to consider how resalable the condo you’re buying is. Although there’s no guarantee that you’ll be able to recoup what you spend, certain factors could limit its profit. Are the association fees in the same ballpark as other condos in Montreal? Are there many vacant lots in your building? Are the other condos rented or owned? All of these factors will affect how easy it will be to resell in the future.
Is the Management Experienced?
Most condos are managed by in-house teams, however some are managed by absentee landlords. It’s wise to find out which type of management your condo has before buying. A hands on professional will be more likely to keep on top of the tasks that need doing, and maintenance will likely be lower in price and performed most diligently. If you’re still unsure after asking these questions, speak to some of the other condo owners and ask for their feedback. Sometimes it’s worth paying more for good management.
Are the Condos Soundproofed?
Everyone likes their privacy, and you surely won’t want to move into a condo, only to have to listen to every word your neighbours say. If possible, ask someone in an adjacent condo to turn their TV or radio on, and then see if you can hear it from inside your condo. You also need to be wary of squeaky floors and doors, and pets. Of course, if someone in your building is throwing a party, you’ll likely be able to hear it, but you don’t want to hear every conversation they have.
How Comprehensive are the Rules and Services?
Do you dream of never having to pay a professional to clean your windows or mow your lawn? What about never having to perform any maintenance? Most condo owners often get to skip all of these and more, though it’s always worth checking. Many condo buildings also have swimming pools, gyms and fitness suites for you to use, and some will also offer extra storage for you to place items like Christmas trees that you only need once a year. These perks do come with rules, though, so make sure you check the conditions and restrictions of your condo. It’s worth knowing what you can and can’t do, and also what you are expected to do in terms of maintenance before signing an agreement.