A few weeks ago, I gave you an update on what was going on in the Montreal real estate market for Q3, and I wanted to go a little deeper. Why is this important? How does it affect you? Watch to find out how the interest rates have changed and will continue to do so, and how this affects people who are already in the market, or considering getting started. It may seem daunting, but our team has a roster of experienced brokers who can help you navigate the ever-changing market. Reach out to us today! LJ Aguinaga CERTIFIED REAL ESTATE BROKER | LJ REALTIES ..read more

When you’re visiting homes to buy there are a number of things you should be wary of saying in front of the seller or their broker. The property is where they’ve called home, and chances are there is an emotional attachment. Put on your best poker face and don’t give away your game, wether you love or hate it. If you come in hot with adoration or a bad attitude, all of that will get back to them unless you keep it between yourself and your broker. Talk about it in private later on. Being neutral in the moment will give you the most power in the transaction if it comes down to negotiating an of ..read more

Buying a home or condo in a new development project can be an exciting investment opportunity, but beware of the developers trying to trick you and getting you to spend more than you expected to at every turn. Watch to find out what I like to warn my clients about before they go and fall in love with a model unit with fancy upgrades that won’t be included in the base price that they’ve been hooked in on. Don’t get caught up their game! Do you have any experiences with tricky developers? LJ Aguinaga CERTIFIED REAL ESTATE BROKER | LJ REALTIES ..read more

This week I’ll be discussing fees that you might not be expecting when purchasing a property. At this point in your process, you already know how much you’re putting as a down payment and what your mortgage will be monthly, but there are a number of additional costs that people forget about when the deal is coming to a close. Watch to learn six fees that you need to keep in mind so you can plan out how much you’ll need to be saving up aside from your down payment. From the inspection to moving fees, don’t be caught off-guard during the biggest transaction of your life! When we represent buyers ..read more

This week I’m going to be explaining a ban that will be coming into effect in Canada starting next year. The Canadian government has introduced a policy that will effectively ban foreign buyers from purchasing homes. As you know, the Canadian real estate market has been incredibly hot, and it has become increasingly harder to buy homes. This ban, coming into effect January 1, 2023, will block foreign buyers from buying homes to ensure that they remain accessible to Canadians. There are exemptions, but the government hopes that this will slow the market down enough to balance it out a bit more ..read more

The third video is our series of the buying process is going to cover the closings costs. What are they? To put it simply: they are the additional costs incurred aside from your downpayment. Today I’ll be covering the 5 different components. From the inspection to the notary fees, they are all necessary and they add up quickly! When planning to buy property, it is important to consider the costs that will come up after you’ve secured the property and set aside money for the downpayment. Don’t get caught off-guard, keep this list in mind so that there are no surprises! If you have any any quest ..read more

Nature and sustainability merged seamlessly with modern architecture and luxury finishings in Montreal’s best new housing development. Located on the Western tip of the island, surrounded by 74,000 acres of protected forest, steps from the new REM (light rail) station being built to connect to Montreal’s underground metro system you will find project Terra by renowned developer Brocolinni. With it’s 3 floors above ground as well as finished basement and 2 car garage, this LEED certified home is not only eco friendly and energy efficient but absolutely breathtaking. Let Residential and Commerci ..read more

This week I will be discussing what has been on everyone’s mind lately: prices in Montreal real estate. Because of the activity over the past couple of years, it is most people’s assumptions that something has to give and that prices can only go down. My opinion, based on recent data, is that they will continue to rise. There are a number of factors that contribute to this such as continuous lack of inventory on the market, and the influx of people coming into Montreal. In the last 15 years, the population has increased by 650,000. Because we still have more demand than supply, the price of ho ..read more

There are many steps and important things to consider when buying a property. Today I’m going to discuss where I like to start: understanding your mortgage. Unless you’re paying cash for your property, you’re going to be borrowing money from a lender, usually a bank. It’s important to understand the different components of a mortgage. How long will you be paying the loan? What is the term of your mortgage? Are you going to take a fixed rate or variable rate? People have gotten nervous with the recent increases in interest rates so it is essential, especially now, that you understand everything ..read more

This week I’m building off the video from last week, breaking down the buying process. We discussed mortgages, and today I’ll be clarifying what the mortgage insurance premium is. It is something you hear about often, but may not understand it fully. When you put anything less than 20% as a downpayment, the bank will require that an entity insures it. This acts as their security in case one were to default on the mortgage. There are multiple different insurers, notably CMHC which is a government entity that most people use. This premium does not affect your rate, it is essentially just an amou ..read more