Montreal Real Estate: More Young Individuals Here Are Preferring To Buy Condos

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The city of Montreal in Quebec, Canada is the second largest metropolitan area in the nation, and is unique in the sense that it is predominantly French-speaking, and is home to a varied array of cultures and traditions.

The city is considered these days to be a very hot market for condominium developers with construction not only seen in on Montreal island, but also on the North and South Shores as well.

Is The Condominium Market Here A Competitive One?

Based on data and from the observations of real estate analysts, the housing market here is a very competitive, as far as prices are analyzed. Currently, there are a lot of great bargains to be seen and partaken, which is quite rare in such world-renowned urban centers like this city.

Whenever one compares the same type of units for size, location, along with the amenities, one would be quite hard pressed to find anything in any other destination that can match the quality, style, price and standard of living that this lovely city offers for its condo dwellers.

Factors To Consider When Choosing A Condo

Wherever you may be, and if ever you wish to buy a condo in Montreal, choosing a condo according to its rules may be a little troublesome, however, it would be smart to first check the rules before you actually sign on the dotted line.

As in other property markets in North America, condo rules are initiated and implemented to protect the residents and to help maintain the harmony, as different lifestyles may be negative or detrimental to some residents. This goes to say, that as long as you choose a condo where the rules mold properly with your lifestyle, it will be as if there are no rules - as all residents will have a similar lifestyle and wouldn't be in conflict with each other.

For instance, if you wish to get up every morning at 6:00 a.m. and start up your car before driving it to work, you do not want to live by a rule that requires silence before 7a.m. All condo units for that matter, have a board which has a fair, unbiased process of receiving and acting upon complaints. Even without complaints, a condo unit board should meet at leas once a month or so, to check on any rule enforcement and related issues. Sometimes the condo environment changes and agreement may be needed to adjust a rule.

More Canadians Are Opting For Condos These Days

In a recent survey done by Ipsos-Reid.ca for TD Canada Trust, it found out that more younger Canadians are very much willing to consider raising a family in a condo than those who are over 45 years old.

Around 80 per cent of the individuals surveyed would not consider raising a family in a condominium, but those in the age group that's most likely ready to start a family, which are the 25 to 34-year-old types, are the most open to the idea of condo living. These preferences also indicate that those who currently live in condos are enjoying the experience., and according to survey handlers, younger Canadians who bought condos as their first foray into the property markets have grown accustomed to the numerous benefits of the condo lifestyle, and a lot more are considering extending them into the next phase of their lives.

The survey, which was done among adults aged 25-59 in the cities of Toronto, Montreal, Vancouver, Calgary and Ottawa, revealed that 64 per cent of respondents would not be likely to consider purchasing a condo as a primary residence. But the 35 per cent who would consider it are driving condo sales to record levels. For those living in Montreal, the survey revealed that they were the most likely to say that condos are not suitable for families with children living at home, and 87 per cent noted that they would not be likely to consider starting and raising a family in a condo.
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Rainer
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Anita Rich
The Rich Group at Compass - Sherman Oaks, CA
Love Montreal!
Mar 28, 2008 07:06 AM #1
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