4 things that define a great pre-built condo investment in Montreal
When investors are looking for a great condo project in Montreal we always have 4 areas to analyse before we present our projects to clients. See below wow we score condominiums and how we select the top investment condos for our clients with 4 things that define a great pre-built condo investment in Montreal.
Location
- Access to transit.
- Walkscore or walkability.
- Access to jobs or universities.
- Futures plans to improve the area.
Location, location and location is everything and will define your rental demand if they are more business or students. What are the main public transportation access? Are there any restaurants, activities or jobs close to the condo ? Is it happening now or in 15 years.
Developer
- Reputation.
- History and track records.
It is important to know if the developer is solid and will be able to build the project on time or not. What are the others buildings they built? How their last projects have been sold? What is the reputation of their buildings?
Project
- What is the UPS (Unique Selling Proposition).
- Stage of launch, the earlier the better is.
- Floor plans.
- Amenities, features and finishes.
- Owners vs tenants.
This is where you should analyse how this projects will compete against similar projects in the area. What makes this project different from others projects ? Design, architecture, amenities? Are the floor plans usable? 10 feet is the minimum to have a livable living space.
You can also look at the others projects of the neighbourhood to have a sense of owner vs tenants. End-users projects usually have a better appreciation.
Value
- Market value VS Pricing.
- Rental demand.
- Appreciation.
- ROI & Cash flow potential.
Is is extremely important to purchase below the resale market. The resale value is what the buyers pay today for the neighbourhood. The important metric you should have is the price per square foot for purchase and rental analysis.
Summary
- Best condo projects have the best mix between Location & Developer & Value.
- It is always better to buy at the very beginning of the project for the best pricing and value.
- Positive cash flow should come with a 20% conventional mortgage.
We have meticulously created a selection of suite in different projects from Studio to 3 Bedroom condos and would love to discuss with you about it, feel free to contact us now to get brochure, pricing and floor plans or call us at 438 887 5236.
