House or Condo: How to Choose From the New Real Estate Listings in Montreal

With its strikingly international dynamic, culture galore, abundant employment opportunities and its characteristically French touch, Montreal offers a vast appeal as a city to settle. The metropolitan town offers something for every corner of the population, whether you’re a professional adult, a family, a student, or a retired individual. This appeal translates to a strong demand and wide availability in the property market, with numerous new real estate listings in Montreal on offer to those seeking to make their investment. Whilst a wide variety of options is usually a blessing, navigating these real estate listings can seem like a vast proposition! Given that the first essential consideration of buying in a metropolitan center consists of whether you wish to purchase a house or a condo, we’ve assembled our advice on navigating this decision. Our key tips should help you along this stage and allow you to navigate the property market, so that you can discover the best possible solution for you.

Buying a House

The Pros

  • Owning a house offers enormous potential for you to establish it as your own environment, and allows you to act according to your individual wishes of what you wish to do with the place. You don’t really have to ask permission before making any alterations.
  • Houses also tend to offer more space in general, making them a preferable option for growing families with children and pets. They will frequently come with an outdoor space, which is especially ideal for prospective buyers raising children. Otherwise, the increased amount of space tends to offer a very pleasant lifestyle, and there is no chance of becoming claustrophobic. Storage space is also more readily available, as a house will always include an attic or a basement – both of which can be incredibly flexible spaces.
  • You also benefit from an enhanced degree of privacy, with an absence of neighbors above, below, and either side.

The Cons

  • Costs are generally heightened, as you are responsible for the maintenance costs.
  • Given the larger amount of space, you can expect higher utility bills (such as those for heating).
  • The distance to shops and workplace is often slightly greater, although this is not necessarily the case.

 

Buying a Condo

The Pros

  • Often located at the very center of an urban area, a condo can allow you to live a life right on the pulse of a city’s rhythm. With a plethora of high quality restaurants, shops and cultural attractions within walking distance, this can be a great solution for those seeking a metropolitan lifestyle. Indeed, this kind of exceptional proximity can equally apply to professional life, with many condos bought as a consequence of their closeness to a workplace.
  • A condo is often located within a building with many amenities that would be cost-prohibitive to have in a house, such as a gym and a swimming pool. This adds an awful lot to your average standard of life, with a minimal associated cost.
  • You’re only obliged to pay for the maintenance of your condo, and are free from the implications of paying for an entire building (as is the case for those who own a house).

 

The Cons

  • You have to pay association fees each month, going towards the amenities and building maintenance.
  • Many homeowner’s rules and restrictions tend to apply, such as the obligation for homeowners to make collective decisions regarding the building as a whole.
  • Parking for visitors can be restricted.
  • There’s a lesser degree of privacy, which can require you to restrict your level of noise – and you may equally find yourself bothered by noises coming from your neighbors.

Which One is Right For You?

As with many decisions, the right choice for you will depend greatly on who exactly you are, and upon your individual preferences. As a general rule, buyers who opt for a house are those who prioritize space, privacy and the control associated with owning a house. Indeed, it is highly likely that those who have decided to buy a house have arrived at this decision after already having lived in a condo for a significant part of their lives. When deciding to take this step, it is advisable for you to feel familiar with simple household maintenance and handyman work, so that you are ready to make small repairs as you go along and save yourself from falling into the potential trap of the need for costly repair work further along the line. Nevertheless, it is also sensible for you to ensure that you’re in a position to be able to afford the expenses associated with house maintenance and repairs, as these are ultimately inevitable (even if it is on a low level).

Generally speaking, condo buyers tend to be slightly younger in age and/or those who appreciate the close availability of amenities, such as gyms, shops and restaurants. As condos are also great for those who don’t really want the responsibility of dealing with repairs and maintenance, it is highly understandable why their principle market consists of young, independent professionals. However, there are also some families who prefer to remain at the heart of the city, with, for example, some exceptional educational facilities available in the center. For these prospective buyers, a large condo can be the very best option by providing the spaciousness required by a growing family, without compromising on proximity.

With a variety of real estate listings available in Montreal, it can seem difficult at the outset to narrow down exactly which path you wish to follow when it comes to your property owning aspirations. However, allow yourself to feel confident whilst navigating the property market with the help of Realtor’s knowledge and expertise, so that you can ultimately discover the perfect solution.

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