Most of people living in a big city like Montreal and Québec prefer to spend their week-ends outside the city. Some people have cottages in Mont-Tremblant. According to the statistics housing market is changing.

According to data, which was published in Fédération des chambres immobilières du Québec, the average price on cottages with access to water in Mont-Tremblant was stable and came upto $198 00 at the beginning of 2009.

But at the same time the number of sales went down by 5 % and came to 2270.

The situation is changing from region to region. For example in region Chaudière-Appalache, which is situated not far from Québec, the prices on the houses by the well increased by 11%. In Bas-Saint-Laurent – by 6% , in Saguenay-Lac-Saint-Jean by 18%, accordingly, the number of sales come down too.
In Lanaudière, the realtor René Laforest (de La Capitale) advises his clients not to be nervous, “ …But even thou people act more carefully. They do not hurry up to invest money in a countryside house.”

Statistics also confirm it, the number of houses (second house, cottage) which were sold during the first six months of 2009 year reduces by 12% in comparison with the last year.

“By the next winter season seller will have to correct their prices” underlines René Laforest. How? By 15 till 20%. Because at present timen the prices on dwelling are overpriced.”

One of the realtors, which is working in the district of Québec, agrees with this comment. (She did not want us to mention her name). “The owners who want to sell dwelling have to be opeend for changes” – underlines realtor, referring to number of sold houses in her sector. She predicts that the prices on the houses near wells will come down in next several months.

To the south of Montreal the prices on the houses will not change.
To the south of Montreal there are two districts with the highest prices in Quebec province on the houses with outlet to the well. These areas are Estrie and Montérégie (cities Granby , Bromont). The average prices on cottages are between $ 253 000 and $227 000.

“Everything good here, same as last year”, says Christian Longpré, ( Royal LePage Au Sommet), realtor from Магог (Magog).
Basing his oppinion on MRC de Memphré-magog, he thinks that the sellers have to be more patient. The high demand on the housing market during many years gives us confidence to say, that there will be no changes. Economic figures increase, and I do not see any reasons to reduce prices on housing in the province of Québec.

Is there a difference in owning a condo or owning a house? What do you have to pay attention to, when you are considering buying an apartment (condo) in Montreal? Who do you need to consult with? If you made a decition to buy dwelling you will confront with a lot of uncertainties and questions

We will try to answer on some of questions.

Property.

By obtaining a condominium in Canada ( in Montreal or in other city) buyer does not just become a single owner of the apartment (condo), but he also becomes a part of a community, which consists of the same owners of condo as himself. The buyer has the rights to sell, to lease or to bequeath the apartment (condo) as he wishes.

But at the same time he shares the rights on the land, corridors, elevator etc. with the other owners of condominiums.

Much more seldom there are situations, when property becomes public, mortgage credit is taken by all buyers of the apartments, rights and duties of everyone are specified case by case.

Cooperative’s representatives.

The owners of the apartments are electing syndicat de copropriété (Council society) for ruling and solving the problems of exploitation the building: engineering communications (water, sewerage, lighting, heating), conditioning, building services,( engage wokers for cleaning, necessarily repair etc) . The collective will agree on the amount of monthly pay to be extended to the society fund by the apartment owners. It is better if the respresentative will be the one who thinks like you, who will understand your needs and possibilities.

Location.

If you consider buying a condo, location is one of the most important things. We talk about good location of the apartment in the building, it’s illumination, location of the building and easy accessibility (roads, public transportation) . In Montreal, like in the other large cities in Canada, it is very important! Besides this, if one day you decide to sell your condo good location will secure the hight price of it.

An apartment.

The location of the apartment and the quality of the building are also very important. But some chic houses in Montreal are planed in such a way, that each block of flats, and sometimes each condo, has a separate entrance. At the same time the walls between the apartments are not always securing good soundproofing. So, before buying a house make sure that it has beed built good.

Additional service. Сondo-collections.

When you buy a house, find out which servises will be available for you. Are there garage, swimming-pool, sauna, tennis-court, gymnasium? If you prefer to park your car in a garage and not on the side of the street, be prepared that the price of the condo will be slightly higher, due to the assigned place in the covered parking.

But on the other side, if you do not like to swim, do you need an access to a swimming-pool? Remember, that condo-collections are covering all services, regardless if you are using them or not.

Contract.

When signing your intention to buy a condo in Montreal, point out that your final decision depends on regulations of le syndicat de copropriété (Council society) and the condition of the condo. Ask your lawyer or notary to chek all the documents and read ALL the conditions of owning a condominium (possibility of having pets, presence of parking space etc)

Beside this clear up what sum of money is available in the fund of the building, especially, if you buy a condo in the old building.

Consult with agents and commercial agents of realty! Do not be afraid to ask questions! Carefully think over all your steps!

Share your experience with other reader of our blog, please leave your comments.

Condition of the apartment
You come to look at the apartment. 1 – the previous lodger had not yet moved (maybe you can speak with them and ask some questions about the apartment and the house).
2 – The apartment is being repaired or just repaired.

If the apartment is after repair and ready for your occupancy, pay attention to the fact that all works have been already done.
Often the promises to finish something after you move in can be stretched out for several months.

Ask your future neighbors (you can walk several times around the house, to strike up an acquaintance with grannies or mammy, who walk with their children. Usually such people are easy to contact),do they like to live in the house, where you are going to rent an apartment? What are the problems in the house? How quickly the concierge responds to their requests, repairing breakages and so on.

Kitchen.
Ask about the efficiency of equipment. From my own experience I would say that the kitchen cooker hood has worked only in one of 4 apartments I have rented. Often in multistores building – when the owner is changing, the kitchen equipment is being changed too – you can mark the flat like this.

Floor.
In wooden buildings, usually there is a wooden floor. Walk on the floor and check if it creaks or not. Decide whether you like it.

Windows.
Check the containment of the windows (it will be too late to check it in winter). How easy they open and close. Are there mosquito nets on the windows?

Laundry.
Large building usually has general laundry room – down in the basement, or in the special rooms on each floor. If you plan to buy your own washing machine and dryer – check if they can be installed before signing the lease contract apartment.
P.S. A lot of lodgers set the washing machines at their own risk…

Pets.
If you have pets or you are going to have one – ask permission to do this.

Parking.
Decide where you will park your car – is there an inside parking or parking place on the street. In Montreal you can see, so-called parking zone. Get to know where you can take the permission in the district.

Building.
Inspect the building inside – corridors, stairs, parking, space for garbage. Does everything looks ok?

Neighbours.
Go for a walk in the area around the house, where you are planning to rent an apartment. Try to get to know what is the contingent living there.

The rental payment.
Here, the main point is if heeting is included in the rent. In the large building, usually – yes. In the duplex, triplex – you get to know it. If possible, ask to show the heating bills for the last winter or for the last year.

Where to look for to rent an apartment?
Advertisements about the rent on houses, bulletin boards, internet: montreal.en.craigslist.ca, montrealais.ca , montreal.kijiji.ca
In the local newspapers.

If you have an experience, bitter experience or good experience, about the rent an apartment – leave comments to the article and share it with our readers.

A lot of immigrants in Montreal at first rent an apartment. When you have got accustomed to the districts of the city, to the canadian life, you have got the canadian university diploma, and you are working for a stable firm, you begin thinking about buying a house.

First of all let’s speak about apartment rent in Montreal. What do you have to draw attention to?
What to do at first and how not be trapped?
After all during the term of apartment rent (it is usually 1 year contract) it is very hard to change something.

District.
When you will choose a district of a future house concentrate your attention on:
Presence of schools, kindergarten, shops, hospitals. The places for rest, parks, green spaces. Bicycle path, tennis-courts, swimming-pools, libraries.
Traffic interchange. Presence of bus-stops, subways. Easy entrance to the main route of the city. Distance to your work/study, favorite places, place of living of friends and relatives.
Find out crime rate in this district.
Perfect advice is to visit this district and check everythings out by yourself. Go there in different parts of the day: in the morning, in the afternoon, in the evening. Try to understand how you feel there, do you like this district or not.

An apartment.
Area of the apartment. At first time it is hard to get used to scales 2 ½, 3 ½ ,4 ½… Actually it is very easy. Take away 1 ½ ( it means a kitchen, a corridor, sanitary arrangements) you have a quantity of the rooms. For example,
1 ½ – small room combine with kitchen.
2 ½ – studio, detached room and kitchen, very often the word “detached” is relative. The room only by sight is separated by a cupboard or bar, etc. In general the difference between 1 ½ and 2 ½ is very relative, and what to call this apartment each owner decides by himself. If you decide to rent a studio, check out 1 ½ and 2 ½ – you can find very interesting offers.
3 ½ – two-room apartment. Two room – the first room is necessarily separeted, the second room is usually combined with kitchen.
4 ½ – three-room apartment, as a rule with separeted kitchen and two bedrooms.
5 ½ – four-room apartment. Three bedrooms.
Floor – decide on which floor do you want to live
If you will rent an apartment on 1-2 floor, check the presence of entry in the parking. If you rent a flat there you take a chance to hear opening and closing of a garage doors, warning sirens of garbage
Collecting machines. Check out where are situated the elevator, refuse bins – they do not have an adjoining wall.
Find out if there are swimming-pool or gymnasium in the house, if you need it.

Where to look for the renting of an apartment?
Advertisements for rent of houses, bulletin boards, internet: montreal.en.craigslist.ca, montrealais.ca, montreal.kijiji.ca
In the local newspapers.
If you have an experience, bitter experience or good experience, about the rent of an apartment – leave comments to the article and share it with our readers.

So, a credit history has begun. You have found the job or started to study and are working at the same time. At this moment your family budget is very important – knack off spending money.

Here are some advices, which will help you to spend your money in the right way:
1. Your monthly income has to be bigger than your expenses.
2. Have an eye on discounts; look through the advertisements, “Publie-sac”.
3. Do not take the credit which is lasting a long time, for example, credit to buy a car.
4. Buy only necessary things.
5. Do not buy expensive things without family member’s knowledge.
6. You always have to have on hand «cash cushion».

Third step – get to know the price on dwelling, which you want to buy.
Surely the price is in an advertisement. But you have to consider subsidiary expenses. So, add:
+ 5% from the price of dwelling (or more, if you want) – Initial installment.
+ 900$ and more – benefits of notary-lawyer.
+ 400$ and more – inspection of dwelling.
+ 300$ and more – price of evaluation of realty for bank appraisal for taking mortgage.
+ to 3.75% from the sum of mortgage depending on initial installment, when initial installment is 20% from price of dwelling the insurance is not obligatory – mortgage’s insurance from CMHC (Canadian Mortgage Housing Corporation), or another insurance company.
+ Tax on buying dwelling (mutation tax). Counting: the first $50.000 from the price of the house – 0,5%, the next tranche from $50.000 till $250.000 – 1%, remaining sum, more than $250.000, is to levy a tax on 1,5%;
+ Property tax for several month in advance (the term depending on the month you bought it and how much the salesman has already paid.);
+ Relocation costs (do not forget about change of e-mail address, transfer of phones, internet, TV cable , etc)

So, count and decide, if you are ready to buy the house of your dream… maybe it is better to wait or to find cheaper dwelling.

First variant. You have a “trunk of money” – cash or balance. Accordingly, you are ready to buy a house. You have to do only two things: choose and buy.
Second variant. You have to earn money. Take a credit. Insensibly pay it out.

We will consider this variant in more details. We always have to think about the future. Especially in the moment when you have recently moved to Canada, rent a house, found the first job or started to study. So, this is the very moment when you have to think about your credit history. Every one knows about it, I only want to emphasize that there is centralized system Bureaux de Credit in Canada, which spies on how you pay debts and according to it, gives you some quantity of score, which is called credit score. Scores can change depending on how you use your credit, how on time do you pay debt instruments, use your credit card, to avail you of taking credit.

If you have a good credit history in the future, when you buy realty, you can reduce the sum of the first payment.

The beginning of a credit history is сonnected with the opening of the first credit card. Unfortunately Canada did not take into account a credit rating of any other country, for example from which you have moved. And that is why it is hard to open a credit card – you do not have canadian credit history.
What do you have to do? There is very easy way, it is called secure credit account. The bank freezes on your account a fixed sum, for example $500 for a year. After it gives you a credit card with limit drawing on money in the same rate or smaller. You use this card and definitely keep the rules of the game which is called “to earn credit history”.

So, a credit history has begun. Our congratulations. You have already made a first step.