Buy or Rent? Your biggest Financial Decision

For many people, it comes to the point in your life when it’s time to move into your own home. For most this is a one of the biggest financial decisions of our lives so it’s important to weight up the options and see what’s right for you.

Benefits of Buying

Buying a home can come with many benefits, one of the most obvious being once you have paid off your mortgage, you will own the house. It’s important to consider the benefits of either buying or renting a property before you make that crucial decision.

Other benefits of buying property include:

  • No landlord who could make you move
  • Buying is cheaper than renting (in the long run)
  • You could make a profit on your home if house prices increase and you decide to sell.
  • You can renovate to increase the properties value

If you want to figure out how much mortgage you can afford to pay, check out our handy Mortgage Calculator Here>>

Benefits of Renting

Although there are certainly many benefits buying a home, there are positives of renting too. If you don’t like staying in one place too long it can be a lot quicker to move home when you need to.

Other benefits of renting property include:

  • Cost of rent can work out a lot cheaper to pay per month than mortgage payments.
  • More cash to play with in the short term on holidays or a new car… For example.
  • More freedom – If you rent a property and there is a problem, it’s your landlords legal responsibility to fix it. Whereas if you buy a property, the responsibilities are your own.
  • You could rent a bigger home in a nicer area than you could afford to buy.

So Shall I Buy or Rent?

I depends on your situation but if you can save up enough money and want to work your way up the property ladder, earning more money in the future then buying a home could be for you. If on the other hand you want more money to spend on things such as holidays or a new car with more freedom, renting could be for you.

If you are still unsure, please don’t hesitate to contact us today. For further mortgage advice, visit our mortgage website here>

Top Tips on preparing your Montreal Home to Rent

Whether you have decided to invest in the property market or have become ‘accidental landlords’, it’s important that you know the in’s and out’s of what it takes to prepare your home to rent to ensure the process has no faults.

Follow our top tips below on how to prepare your home to rent:

Inspect your home

Before anything is set in stone you need to inspect your property to make sure a tenant will want to live there. You can do this by cleaning up, looking at the safety of the property and deciding what you will be taking with you.

Clean up

One of the most common reasons a renter may change their mind about living in a property is if it’s unclean. Make your home look like new, clean the floors, furniture and windows. Paint the walls and make each room look brighter. Although you need to choose the right tenant to live in your property, it’s important to make sure that whoever views your home will actually want to live in it otherwise you may never be able to rent it.

Look at safety

It’s important that you tenants feel safe while living in your property and it is your legal responsibility to make sure your home is safe. Ensure all smoke and carbon monoxide detectors are working and equip the kitchen with a suitable fire extinguisher and make sure no electrics are faulty.

Decide what to take and what to keep

If you decide to take some major home appliances make sure that you tell your tenant before their move in. This gives them enough time to replace any essential appliances such as cookers or furniture so they don’t become stuck when the time comes to move in.

How to manage renting your home

Are you planning to rent your property alone or take some expert property management advice? If you are planning to rent your self make sure that you secure a legal lease document for the tenant to sign which you can later refer to.

If you are looking to hire a property management company they usually charge between 4% to 12% of the monthly rent of their services.

Screen Tenants carefully

One of the most important things to do when preparing your home to rent is to screen all possible applicants to make sure you choose a reliable tenant which will pay the rent each month on time.

Some questions you should ask are:

  • Why are they moving?
  • When do they plan to move in?
  • Can you get references from a previous landlord? – You can ask previous
  • landlords if the possible tenant was late paying the rent and if they kept the property in good condition.
  • Will they give consent to running a credit check?
  • How many people will be living in the property?

If you are looking to rent property in Montreal, Landmark group are expert Montreal Real Estate Agents that are here to help! For more information, check out all of our latest properties to rent HERE>

The Best Of Montreal

Montreal is the largest island city in Québec, Canada and is nestled between the Saint Lawrence River. A city like this is popular to live in and because Montreal is the number one host city for international events, who wouldn’t want to live here?

Where to live…

Plateau-Mont-Royal

This is a laidback predominantly French speaking area of Montreal that is home to some of the best townhouses. Plateau-Mont-Royal is in walking distance of some of Montreal’s best restaurants and cafés and one of the advantages of living here is that that downtown is very accessible by all means of public transport or even a leisurely stroll.

Old Montreal

Old Montreal is the oldest area in Montreal, hence its name and dates back to the 17th century. This area of Montreal offer, historical and cultural architecture that certainly appeals to the buyers who aren’t looking for new builds. Old Montreal is home to beautiful old buildings as well as the Notre-Dame Basilica which is almost 200 years old.

West Montreal

Sometimes people may be quick to dismiss the west Montreal when it comes to finding a place to live but there are many advantages of living there. Firstly the rent can be a lot cheaper than the most popular areas of Montreal, secondly it’s more quiet than downtown because you are not in the hustle and bustle of it is all. And thirdly there are so many more outdoor activities available in the west such as skiing, swimming and even soccer.

Top fact about Montreal

Montreal is build around Mont Royal, from where the city received its name. Mont Royal Park, located on the mountain, was designed by Frederick Law Olmsted, the same person who designed New York City’s Central Park. No building in Montreal can be taller than the famous Cross found on Mont Royal! – Geos Montreal.

If you are looking for the perfect place to live in Montreal, whether you like to be in the centre of all the action or like to live in the peace and quiet of the countryside, Landmark Group can help you find your dream property.

Top Tips for Moving House

As a long established Montreal Real Estate Agency we know how stressful it can be to move house, especially for the first time. You might find yourself asking: Where do I start? What do I need? Is there anything I have forgotten? You are not alone.

Did you know that most people have moved home at least 1 – 4 times in their life?

Pick the right Real Estate Agents

To make moving home as stress free as possible you need to firstly choose the right real estate agency, one that has been around a while and has great testimonials. If you are moving home in Montreal, Canada we offer some of the best properties to rent and for sale, our client testimonials speak for themselves.

Top Reasons for moving: 22% of Canadians move because of work-related reasons while 20% are upgrading their home and another 17% move for family reasons.

Time To Declutter

When moving home it’s a great chance to declutter! All that unnecessary storage you have gathered over the years that has no purpose can now be thrown or given away. To make moving easier don’t pack too much clutter and label all boxes efficiently, this will make it easier to decipher which boxes go in which rooms once they arrive at your new home.

When decluttering before a move it’s important to ask yourself:

  • Do I really need it?
  • Why am I keeping it?
  • Do I have a place for it in my new home?
  • When was the last time I used it?

Once you can answer these questions, it’s easier to see what to keep and what to say goodbye to.

Give yourself plenty of time for the Move

Once your mind is made up and you have decided to move, try to give yourself plenty of time to sort through everything. If you have lived in the same place for years you may not realise how much you will have to sort through.

Additional things to consider will be notifying everyone about your change of address. This will include all bill companies that send you letters, your car insurer, bank account, doctors, schools, work etc.

If you would like to know more from the property experts please contact us today on: 514-316-5555 or email us: info@landmark-canada.com

What is your home worth?

It’s important to know exactly how much your home is worth, especially when your are looking to sell your property. You need to remember that wherever you are in the world the real estate market will be different.

Montreal is great for real estate because property sales are up from last year and it is cheaper than buying property in Vancouver and Toronto. Before you find out how much your home is worth you need to know more about the Montreal Real Estate market. Find below some of the top property stats for the Montreal area:

Top real estate stats in Montreal

  • By the end of the first two months in 2017, sales of $1-millon+ homes had increased in Montreal by 13%.
  • Montreal remains considerably more affordable than Toronto and Vancouver. A family home in Montreal will cost approx $319,000, the same home will cost $1.1-million in Toronto and $1.56-million in Vancouver (as of May this year).
  • According to the Greater Montreal Real Estate Board, there has been a 5% increase in properties sold last year (2016) than the year before.

So what is your home worth?

To find out exactly how much your property it worth, you need to get an online evaluation by experts. This is something that we at Landmark Real Estate specialise in. We want to make sure that you are getting the best value for your property so we created this useful Home Evaluation tool. Simply type in your email address, your property details and receive your FREE evaluation today.

Real Estate Help

Are you in need of professional help? Whether you are looking to buy or sell property in Montreal we are here to help. Buying a home is a very complex process and selling can be just as stressful so if you put yourself in the good hands of an expert, all the stress will soon disappear!

For more information on how to buy or sell your property, please contact us today by calling: 514-316-5555 or emailing: info@landmark-canada.com

The Price is Right

Determining the right sale price is a crucial step when deciding to sell your home. More often than not, the price is the most determining factor for potential buyers.

Thanks to their privileged access to the Centris/Realtor system, a network that is reserved exclusively for brokers who are members of a real estate board, your real estate broker can evaluate your home and perform a comparative market analysis based on properties that are similar to yours and that were recently sold in your neighbourhood. Comparative market analyses are indicators of the price that today’s buyers are willing to pay for a residence similar to your own, in a comparable area. The analysis takes into account your home’s features and the conditions of the current real estate market.

Getting Off to a Good Start

To sell your home quickly, it’s important that you set the right price from the get-go. When faced with a price that’s too high, potential buyers may get discouraged, while those who can afford it will quickly realize that they can get better value for their money elsewhere. It’s also good to remember that a home that lingers on the market for a long time tends to lose its appeal.

Selling on your own is risky business. Without in-depth knowledge of the market, you can easily underestimate the true value of your home and lose considerable profit. This is why a real estate broker is the best-suited professional to help make the most of your real estate transaction.

Setting the right price from the moment you put your home up for sale is to your best advantage. You’ll be sure to attract more potential buyers and therefore sell your home as quickly as possible.

To Sell Quickly, Make a Good First Impression

When the time comes to sell your home, you only have one chance to make a first impression
The Exterior
The exterior appearance of your home is extremely important. An inviting exterior will attract buyers and encourage them to visit the inside of your home. Your lawn should be well maintained and, during the winter months, keep some photos of your lawn handy so that visitors can see what it looks like during the summer. Cleanliness is essential, so a cleared entrance and clean windows will also make a big difference.
The Interior
Inside, neatness is key. Clean your home from top to bottom and get rid of all unnecessary items. Remove any old furniture that is obstructing the hallways or cluttering up the rooms. Clear out any open spaces so that visitors don’t feel cramped.
Does the home need a fresh coat of paint? Newly painted properties often sell for more. Remember that dark colours can be detrimental to a sale. Instead, choose brighter, more appealing neutral tones. Your carpet’s appearance can also be a determining factor. If you can’t replace your carpeting, having it cleaned will help give the rooms a refreshing new look.
The kitchen and bathroom must be immaculate. Take the time to clean all appliances and faucets, as well as the bathtub, toilet and sink. Unclutter the counters and don’t leave any dirty dishes in the sink or towels around the tub. Give buyers a chance to visualize all storage possibilities.
Throughout your home, fix leaky taps, defective door handles, as well as drawers and cupboard doors that don’t close properly. Replace burnt light bulbs and yellowed switch plates. Most of these minor repairs are relatively inexpensive and will help visitors form a positive opinion of your home.
Creating Ambiance
Your home must be well lit. During the day, keep the curtains open and turn lamps on in the evening. If necessary, add lamps in dark corners. Make sure your home is well-ventilated so that visitors aren’t turned off by strong odours such as incense or spicy foods.
It’s important to be discrete when potential buyers are visiting. Leave your broker alone with the client. It will be easier for the broker to highlight your home’s strong points and the visitor will be able to voice comments and impressions freely.