Montreal Real Estate Reviews

Increasing Withdrawal Limits Under the Home Buyers’ Plan

Saving the down payment for a home can be a challenge for many first-time home buyers.

The Home Buyers’ Plan (HBP) allows first-time home buyers to withdraw up to $20,000 from a Registered Retirement Savings Plan (RRSP) to purchase or build a home. Unlike regular RRSP withdrawals, HBP withdrawals are not included in income when withdrawn. Amounts withdrawn under the HBP must be repaid over a 15-year period, starting the second year following the year of the withdrawal, or included in the individual’s income if not repaid.
Continue reading…

Would you like to live in the island of Montreal and at the same time be in the quiet, beautiful dwelling district? It is possible if you decide to be an inhabitant of Westpark Square, which is situated in the Dollard-des-Ormeaux.

The 20 townhouses of the project Westpark Square satisfy all the highest architectural requirements and are very original. From these houses you can choose the one which you like the best.
Continue reading…

According to the results of the research, which was published on july 7, 2009 in the Royal LePage, in 2009 future owners of the real estate in Montreal on average will pay $ 263 500 for a private house. This is the consequence of the increased quantity of buyers by 2,1%.

“We analyzed the sales during the first 6 month of 2009, it shows that the market was really quiet in January and February. Obviosuly the buyers have reacted to the instability of the economy”, notes Dominic St-Pierre, the director of Services immobiliers de Royal LePage. The housing market shot up in spring, when there were buyers who were ready to pay upto $ 200 000. In May and June there was noted an increased demand on all kinds of real estate, and it gives an opportunity to predict good sales for the next 6 month.

The years from 2001 to 2007 were successful for salesmen, as houses were being sold quickly and easily. The end of 2008 and the beginning of 2009 is effected by the difficult condition of the economy and the housing market turns around in a favor of the buyer.

At present time the housing market is more stable and should be taken advantage of. Salesmen offer great prices and this is the perfect time for a buyer to choose the best house according to the needs and for a reasonable price.

The dealerships of buying and selling of the real estate will be more intensive first of all in the districts of Montreal like Dorval, Lachine, Beaconsfield and LaSalle/Verdun. But the increased amount of transactions will result the growth of prices for the real estate.

However, in more expensive districts like Saint-Bruno, Côte-Saint-Luc, Notre-Dame-de-Grâce or Westmount, prices will be kept more stable and probably will go down.