Investing In Downtown Montreal Real Estate

top montreal realtors
Downtown Montreal real estate agent

 

It’s vital to be clear about what you want to get out of your investment and when you want to receive it so you don’t wind up with a property that doesn’t pay off.

Any real estate purchase is an investment, whether it’s for a permanent residence, a holiday home, or a buy-to-rent property. In certain cases, the financial component is the most important factor, while in others; it is preferred but secondary to the enjoyment of the property. As buyers and clients of Behrooz Davani Real estate agent, you will be informed of the market value of the property you wish to purchase. It’s fine if the most beautiful home isn’t the best investment, but it’s only proper that you’re a knowledgeable buyer.

This blog will concentrate on the financial aspects of real estate purchases in Downtown Montreal, regardless of their intended purpose.

Establish your investing goals

Do you want to make an investment that will pay you on a monthly basis? Or are you okay with a property breaking even if you think you’ll be able to sell it for a profit in five or ten years? Or perhaps you only need a mortgage aid and don’t want the rental revenue to fully cover all of the property’s expenses? Whatsoever your goal, be sure you know exactly what you want to get out of your investment and when you want it so you don’t wind up with a property that doesn’t meet your expectations.

Before you go looking, do the math

When most purchasers see a home, they know it’s their ideal home. The most crucial thing to observe if you’re purchasing primarily for financial purposes is that the statistics are in your favor. Make a spreadsheet to assess revenue vs. costs for the homes that interest you, and make sure nothing doesn’t meet your expectations. Remember to provide for upkeep and a contingency in case of late payments or a long wait for a new renter.

Make sure you don’t skip the inspection

The cheapest construction isn’t necessarily the greatest option. The big-ticket things, are the most vital to pay attention to, such as the age of the heating system, windows, and roof.

While modern structures may be more expensive, they may require less care. In addition to your inspection report, you should question any present renters whether they are aware of any outstanding maintenance concerns. You must also guarantee that the structure meets all safety, sanitation, maintenance, and zoning regulations.

Stay Informed

Request that you look at recent sales in the vicinity for similar houses, ideally in the same building.

Get help from someone

It’s wonderful to be confident in one’s ability to conduct independent research, but it’s unlikely to be confidence gained from experience. In a market I’m unfamiliar with, I’d seek assistance, and I’d advise everyone to do the same. I’ve met far too many disgruntled purchasers to think otherwise. Sure, buying at the proper moment can safeguard you from making a mistake, but we can all do better.

Testimonials

We were lucky to have found Behrooz for our first-time home buying experience. Behrooz was very helpful in our search for a condo in Griffintown, Montreal. He is very knowledgeable of the area and gave us good advice regarding the offers we make. He explained each step in the the whole process very clearly and was quick to respond to all inquiries we had.
by Claudia
I interviewed several real estate agents to buy and sell my home and chose Behrooz on he's promise of excellent customer service and added value. He was most helpful and patient during the entire process. He listens well and is very collaborative in his approach. I am beyond happy with the outcome and would recommend him!
by Alexis B
This is my third property bought and I have been working with a few real estate agents, Behrooz is no doubt the best. Hes very professional, reliable, knowledgeable, share with us so many insights and never rushed us to make the decision. I would highly recommend him for anyone who wants to purchase a home.
by Nazish
Behrooz made our purchase experience a charm. Especially given we live overseas, his advice and guidance at each step made us feel in control and smooth. V professional and knowledgeable about the market. Would recommend him enthusiastically for anyone looking to buy/sell in Montreal.
by Philippe Gagnon
It was an absolute pleasure to work with Behrooz. He loves what he is doing and he is always on the positive side of things. He is organized, detail oriented and available to answer to my questions even after the sale. If you are looking for a proactive real estate agent, I strongly recommend him.
by Sam N.
Behrooz sold our house during one of the most challenging times imaginable: the COVID-19 pandemic and we were in a rush to leave the country. That in itself should say a lot. He found us buyers who were ready to make a reasonable offer after 2 weeks in the market. In a highly uncertain market, this saved us a lot of time, stress and expense. Rather than pressuring us to accept the deal he worked with the buyer's agent to bring up the price to where we would be happy. We feel extremely lucky to have selected him to represent us in this sale of our property.
by Bahareh Z

Join The Discussion

Compare listings

Compare