How to choose the property that fits your needs

The purchase of a property is a major decision in your life. How do you make the right choice?
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A property that suits me

Having problems choosing a property? You’re not alone. Choosing your home can be a real puzzle. Everyone agrees that the purchase of a property is without a doubt the most important purchase one will make in life. There’s plenty of pressure involved…. How do you minimize the risk of making a mistake? Begin by asking yourself the right questions. Here are some that will help you make an enlightened decision.  

Am I buying for the short term or the long term?

Are you merely looking for a springboard for another purchase sometime in the future? Your main criteria will doubtless be an affordable price and a good profit potential for a sale in the foreseeable future.  As for the property’s characteristics, only your immediate needs are relevant. Are you planning for the long term? Here are some questions to ask yourself: 

  • Are you planning to have children?
  • Do you intend to work at home?
  • Will your children be leaving home in the short or medium term?
  • Do you plan to share your home with your ageing parents?
  • Will several generations be sharing the space?

What type of property interests you?

In Montreal we really have a tremendous range of choices. From single-family dwellings to condominium apartments, from plexes to urban houses for families, you’ll easily find a property that suits your tastes and matches your budget.

  • How many separate bedrooms and bathrooms to you need?
  • Do you need a garage or a parking space?
  • Do you want a backyard, a balcony, or a terrace?
  • Do you need an elevator? Do you have special needs in terms of accessibility?
  • Is a separate entrance necessary?
  • Do you prefer a newly-built property, a recently-built one, or an older one?
  • Are you interested in co-ownership? Are you prepared to invest the time and commitment that this sort of property requires?
  • Are you looking for a revenue property? Do you have the handyman skills to resolve your tenants’ problems from time to time? If not, do you have access to that sort of help?
  • What level of energy efficiency are you looking for in your house?

By the way, where your house is located is as important, if not more so, than the choice of the house itself.  Consult the How to choose your neighborhood section for guidance in this regard. For more details, see the section «Which home is right for you» on the CHMC website. You’ll also find a checklist to determine the exact characteristics of your future property.#

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