Buying Montreal Real Estate

Elimination of Transfer Taxes For First Time Home Buyers Elimination of transfer taxes for first time home buyers was put on the table during the election campaign by the Parti Quebec.  According to the QFREB, (Quebec Federation of Real Estate Boards), the homeownership rate in Quebec (61 per cent) remains considerably lower than the Canadian average (68 per cent), says the association. The Government of Quebec, in 2018, took a first step in this direction by granting a $750 non-refundable tax credit for the purchase of a first home. “There is no question that real estate transfer taxes (known as the welcome tax) are an impediment to...

Who Are Montreal's Homebuyers: A CMHC Report The Canada Mortgage and Housing Corporation (CMHC) did a comprehensive study to find out "Who Are Montreal's Homebuyers." QUOTE "There is very little data on the profile of households who buy homes in the Montréal area, and this study allows us therefore to help industry players keep abreast of the dynamics at play in the various sectors of Montréal. The suburban sectors generally attracted more young families and young couples without children looking for single-family homes. These suburban sectors also attracted buyers from other sectors of the CMA, including a number from the city of Montréal — Francis Cortellino, Economist, Canada...

Latent Defects: What you need to know before purchasing your new home   Purchasing a new home is a big step, whether it’s your first home or your tenth, and being aware of latent defects and how to prevent any unwanted surprises from them is an important step to protecting yourself and your investment.   What is a latent defect?   A defect is defined as “a flaw in the quality of a building”.  To be a latent, or otherwise known as a ‘hidden’ defect, the flaw has to meet three requirements:   It is not obvious, just by a simple look you can’t see the problem, ...

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