Buying a condo in Montreal : is it worth it long-term? (fit in, condos)
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What do you guys think about buying a condo in Montreal that is located more centrally VERSUS buying a house a bit further away like off-island/suburbs etc?
I heard from my boss that condo loses value over time and that unless you want to make profit in 10 years and get out, you shouldn't buy one. Condos can be hard to sell when it gets old.
I guess it really depends case by case depending on the location of the condo and the quality of the build. But I was wondering if anyone know about these things and what your opinion is regarding this matter.
I guess, Montreal IS the 2nd largest metropolitan area in Canada. The estimated pop. growth from 2016-2020 has been around 6%. It will only grow, I guess.
Don’t like condos. Don’t like the idea of being stuck with decisions on expenses being in someone else’s purview. I think that it is much safer to find a good house and be responsible for all expenses incurred, and avoid the rules that a committee can impose on the «*co-owner*».
In the last years the single family homes increased significantly more than the condos and I am talking about condos in Montreal and houses in the out of the island suburbs. Single family homes in Montreal are impossible to buy for a regular person. Strictly based on financial gain and expenses a single family home will be better.
I think it is all relative to what your lifestyle is and where do you want to live. If you want to be in the city it does not make sense to buy a house off island regardless of the future financial gains of your propriety. If you work in the city, you want to go out during the week just buy a condo in Montreal.
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