Well it’s no surprise that the condominium market is not doing all that terrific for sellers. Over the last year the statistics show a decrease in sale volume as well as price. Average days to offer an apartment are currently 123 days, as compared to 90 days in 2009. The construction of condos is still going strong and there typically aren’t enough purchasers to walk around. In NDG/CDN alone there have to do with 950 condos up for sale, and because January 2015, there were only 435 sales in those areas. Which indicates it took 6 months to sell 1/2 the product on the marketplace. As well as this area is one of the lucky ones.
Acquiring real estate is an excellent investment. 12 years ago after checking out Rich Dad, Poor Dad by Robert Kiyosake, convinced me that I wished to enter property. I obtained my license and purchased my first residential property. Ever since, with the realty I possess, my equity expanded from 50,000 to 300,000. Whether it is a home, condo or plea, getting the ideal one make a difference to your pocket book. Buying a Mayfair Modern condo is simple, it’s when you prepare to market that has the biggest influence. No one wishes to be selling their apartment for 12-24 months, however that’s just what I see sometimes. To avoid this, there are some ‘rule of thumbs’ to follow. Below is my listing of crucial requirements to comply with when buying an apartment for eventual resale:
Area, location, area … besides cost this is the top of every person’s concern. You intend to either acquire in an up and coming area, or a location that is already happening. Near public transportation, shops, dining establishments, or some type of feature that brings in individuals like a hospital or market. Porch. Any type of apartment that I offer that doesn’t have a terrace, quickly hinders concerning 80% of buyers. Individuals prefer to have the ability to go out and also most notably BBQ. Views. You might think home windows facing a parking lot or a hideous structure does not trouble you, nonetheless it wills certainly most buyers. With lots of apartments to choose from, buyers will certainly pick a great view over a brick wall any kind of day.
Garage. If you are getting a condominium, having a garage will certainly give you an edge come resale. Worst case scenario, make sure that it has outside car parking. Winters in Montreal are a bitch and people do not wish to be shoveling snow on the street for vehicle parking or needing to stroll a great distance to obtain from their cars to their door.