- Is owning an investment property in Beauharnois, Quebec profitable?
- When purchasing a new build property, the most common questions I get revolve around the following topics; location, price, financing options, renovations, and the “big picture,” which includes things like, ‘will this be my forever family home, will I live here until retirement,” etc..
The truth is that these questions should come after making sure that you understand exactly why buying a new building project is a good idea for you.
Before jumping head first in, ask yourself some basic questions.
What does owning real estate mean to me? Do you see your self living on the same street/neighborhood for 10+ years of your life? Would you rather own your own property than rent? If you answer yes to either of those question then you have probably answered your first question already and you might want to read on further.
If your answers point towards you wanting to buy real estate, keep reading because I am going to help you figure out if you should purchase a new build or move into your current residence first.
[IMAGE: Image of the map showing locations of New Construction Homes in Beaumont Park]
Why Should I Purchase A New Build Property First?: Location & Price
Location plays a huge role in determining whether or not you purchase a new build or move into your existing residence first. For example, buying a house near a park, school and grocery store makes sense when considering moving to a place because it gives you many benefits including being able to walk or bike to work, play sports at the local rec centre during lunch breaks, take kids to nearby schools and go shopping for food without having to drive anywhere else.
However, if you prefer living in the suburbs and don’t really care about proximity to anything other than the closest coffee shop (which could actually be located across town), buying into your neighbourhood can save hundreds of dollars each week on transportation costs.
Price is another factor to consider when deciding on which type of purchase first and it depends entirely on your situation.
For instance, say your mortgage rate is 3% higher than your average rate for the area and your home value drops $100k below market average, would you still purchase a new build instead of renting?
This decision will depend on a couple of factors but mainly your financial capacity and willingness to pay extra fees for renovations, repairs, property tax and insurance.
[IMAGE: Real Estate Map]
How Much Can I Afford?
Now, lets talk about finances.
The next step after figuring out the above mentioned questions is determining how much you can afford to spend. There is no exact formula to determine your monthly payment amount, however I recommend looking at the following numbers to ensure everything balances out.
First, you need roughly calculate your total annual household expenses and divide them evenly among your months. Then, subtract 20 percent from the remaining amount to account for unexpected emergencies like broken appliances, car repairs, medical bills, etc. Lastly, multiply the leftover amount by 1.2 to account for inflation since you bought the property.
[IMAGE: Calculator of Total Annual Household Expenses]
Next, take a moment to look at your credit score because...
- New Home Beauharnois Buying 101
- Buying property in Canada requires some special considerations. The main ones being; a different type of mortgage than those offered in most countries around the world and having a specific type of residency permit. These requirements vary depending on which province you wish to purchase a house/condo in but will be discussed below.
In order to buy real estate properties across Canada, you must first obtain either a Canadian Mortgage Plan [CMP], a conventional mortgage or both. CMP loans allow buyers who qualify to borrow less money than they would under a standard loan, thus allowing them to save thousands of dollars on closing costs. Conventional mortgages, on the other hand, offer higher interest rates and lower monthly payments for borrowers.
To live in the Province of Ontario for instance, residents need proof of permanent residence status from a provincial agency like the Ministry of Immigration or Citizenship or another equivalent body.
Residents can obtain a Residence Permit (RPAQ), which gives them full rights and obligations of citizenship, including voting rights. A non-resident cannot apply for this permit until he/she becomes eligible to become a citizen. Once granted, the RPAQ is valid for five years and renewable upon request every 5th year. If the resident does not renew his/her permit after five consecutive years, s/he loses all legal protections under Quebec law.
Ontario & British Columbia Residents
If you reside outside of Québec then you should check with each province's immigration office regarding their own residency requirements. For example, British Columbians who move to Alberta can still get a BC residential permit, though it is no longer recognized as being equal to a B.C. passport. In Ontario, if you're planning to buy a condominium unit you'll need to register with the Land Transfer Authority of Ontario (LTAO).
What to Do After Buying Property in Canada
After obtaining the appropriate types of mortgage and becoming qualified to purchase a residence, the next step is to find, contact and negotiate a sales contract with the seller(s) of the desired property.
When making your search for a new home, try visiting local websites such as www.craigslist.ca and www.kijiji.ca in addition to national sites like Realtor.ca.
[IMAGE: Realtor.ca Website Logo]
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- When buying a new home in Quebec follow these steps
- XonDo's latest research shows that there are currently around 1,400 condominium units available across 10 distinct buildings. If this sounds familiar, then you're probably thinking "where should I live?" But if you're wondering which building would be ideal for you, then read on!
In fact, it pays to keep an eye out for upcoming sales because once they go onto offer sheets, they usually sell quickly. So why wait until a property goes onto sale lists if you could buy first?! That said, some developers still prefer offering properties prior to listing them; these tend to be smaller scale developments, meaning they'll typically only have a few units offered each time.
So, where should you begin searching for your dream home? Well, Xondo recommends starting your search online. We've put together this handy map showing all ten developments available today, complete with their approximate selling prices, floor area, and availability.
To help narrow down your choice further, take note of the location of each development so that you can see whether they suit your needs. For example, you might decide to avoid those along LaSalle Avenue because they tend to be built close to busy arterials — which isn't always great for quiet residential living. Likewise, it makes sense to stay away from areas like Notre Dame Road and La Salle Street because the traffic volume tends to be higher than other parts of town, especially during rush hour periods.
If you're ready to get started, head back to our homepage, fill out your information, and hit'search'. A member of our team will contact you shortly thereafter to learn everything you'd like to know about buying in our neighbourhood.
Now, you must remember that while the majority of condos aren't yet sold, we expect the trend towards rising interest rates to continue into 2022. And since our average asking price was $1,058/sqft (2018), it wouldn't surprise us if prices increase slightly going forward. However, XonDO recommends keeping your expectations reasonable, because with the current market conditions, it can sometimes prove tricky to predict just how high prices will rise. As well, we recommend making your decision sooner rather than later.
[IMAGE: Map Of Beauharnois Development]
New year, new trends! Our top picks for the most popular articles published in January 2019 include a quick overview of some of the most powerful influencers who wield influence on the internet, tips on how to leverage video content, ways to monetize your website without sacrificing quality, the importance of being authentic, the advantages of choosing email automation software, and the secret sauce behind Pinterest’s massive popularity. Click through to discover:
YouTube Influencer Trends 2019 Top YouTube Stars Share Their Secrets to Success [VIDEO]: Find out what types of videos drive engagement on Instagram
Video Marketing Tips From Popular Online Videos For Every Niche [GUIDE]: Learn how to produce engaging videos for every niche
How to Make Money Selling Video Courseware [HOW TO ARTICLE]: Discover 4 strategies to earn extra income from course creation
Why Facebook Is Still King When It Comes to Viral Posts & Why It Matters [ARTICLE]:...
- How to find Your New Beauharnois Home or Condo
- When I was younger my family often travelled around North America visiting friends and relatives in different cities across Canada and United States. When they came back to visit us in Saint Louis Missouri, USA, we would always go out exploring. My parents made me stay away from areas known for crime due to being robbed while staying in those places but I had other motives. We visited areas like Chicago in Illinois which was notorious for gang violence during the late 1960s and early 1970s. But this area became safer after this period of unrest.
In many ways these days, Montreal in Quebec, Canada seems almost like another world compared to St. Louis, USA. While Montreal is still considered part of Canada, Quebec is the only province that uses French instead of English. The city is filled with history and culture from both Canadian and European settlers alike. Its old town core boasts beautiful architecture including many famous buildings dating back to the 18th century. There is no shortage of art museums, historical sites, parks, theaters, festivals, outdoor recreation spots, and shopping centers. All things people love about traveling are found in Montreal’s rich cultural diversity.
For investors who decide to relocate to Montreal, be warned.
While prices continue to fall in some parts of Greater Toronto Area (GTA), they remain relatively higher than in Vancouver and Victoria BC which offer similar living standards. Also, unlike most of the GTA cities, housing inventory remains high in Montreal especially with condos and apartments in prime locations near transit hubs. As an example, there is currently zero availability for anything less than $900 per square foot at the Champs Elysees Avenue condo tower located close to Metro station LaSalle in downtown Montreal. Even though the average price point is quite attractive, buyers should keep in mind that property values will probably increase further in the years ahead given current trends towards population growth in Montreal. If this happens then buying a home will become easier with rising real estate value.
Another factor driving the market today is foreign buyers, mostly from China. Foreign buyers tend to buy properties outside the metropolitan region while domestic demand focuses on urban center markets. This leads to lower supply in suburban housing areas which increases the overall cost of homes in certain regions. However, this phenomenon is not universal. For instance, property sales activity continues to rise in Montreal’s suburbs with prices going down slightly since 2017.
[IMAGE: A map showing Montreal Housing Sales Activity Over Time]
So why invest in the Quebec market? Well firstly, Montreal offers much better quality living conditions with affordable house prices for middle class families and professionals. Secondly, its proximity to Ontario makes it convenient for commuters working in Ottawa, Peterborough, Kingston, Hamilton and Waterloo Region. Lastly, Montreal is home to McGill University whose research facilities attract students seeking better education opportunities and job prospects abroad. The university campus provides excellent employment options and attracts highly educated graduates. These factors combined mean there’s good reason to believe that in the foreseeable future, Montreal could see a continued uptrend in population growth which will eventually lead to increasing property values and affordability. For investors interested in owning rental income producing assets, Montreal has several large office blocks and industrial complexes offering great potential for long term rentals.
- Why is Quebec's Real Estate Market Booming?
- New Build Condo & Townhouse Investments
In order to find a great rental property in 2019, you had to wait until after Christmas and beyond. But 2020 looks like another year that will be full of activity. We expect some good news regarding rentals around 2020. For example, some landlords who rented through Airbnb are planning to convert those properties into permanent residences and rent them out again through real estate agencies. If this happens, they could sell quickly because people would prefer having houses rather than renting apartments.
For most Canadians living in urban areas and cities, housing prices remain high relative to household income. And while many Canadian families own homes today, owning a house is becoming less affordable for more households every day. So what does this mean for us? More renters or buyers? Well, in reality both scenarios play out. While homeowners enjoy lower monthly bills, we see rising rents for tenants due to competition among apartment owners. The same applies to condos which become increasingly popular choices for first-time buyers.
So what should investors keep in mind for buying a condominium in the coming years? Here are 3 tips to consider:1. Location is key
Location is everything. As a rule of thumb, a higher average price per square foot correlates to a better location. However, in certain cases, a smaller unit size in a prime location offers greater value for buyers.
2. Buy only if you are confident about making improvements
If you bought a townhome/condo without knowing anything else except you loved its area (and the fact that it was available), then you probably regret this decision today. When buying a new condo, remember that you won’t have to do anything to improve its condition in the short term. This gives condo-owners a unique advantage for buyers since condos often go unsold simply because no buyer wants fixing things.
3. Don't pay above market rates
We live in a global economy where demand exceeds supply everywhere. As a result, buying below-market priced units in highly sought-after locations may offer more upside than downside. Of course, these factors vary greatly depending on whether the building is located near transit hubs, universities, business parks, entertainment venues, and other amenities. Also take note of vacancy rate. A building with a 10% vacancy rate indicates many empty units. On top of that, ask yourself what type of neighborhood you feel comfortable living in. Some neighbourhoods have a negative stigma attached to them, whereas others are known for being quite safe and family friendly. These attributes affect property values significantly.
Finally, keep reading our complete article series “Buying New Residential Condos in 2022” which provides detailed information about investing in Canada's fastest growing city: Montreal! Read Part 1 | Part 2 |Part 3| Part 4| Part 5|Part 6| Part 7| Part 8|Part 9| Part10
- New Construction Investment Opportunities in Beauharnois Quebec
- Mascouche real estate market history is made up of the many changes which occurred during this period. We offer information on each year and will highlight some of the main events of each season.
[IMAGE: Logo of Beauharnois ]
In 2002, Mascouche area was experiencing growth due to a rise in population along the St Lawrence River. Since 2006, housing prices went through a strong increase. In 2015, the average price per square foot was $1,542 while the current figure is just under $2,500/sq ft. These figures represent great improvements. However, we must mention that since 2008, the average cost of a single family house decreased significantly (-19% and -27%.). [Read More]
We continue by describing the different types of properties available. They vary according to the type and size of homes, as well as their location. Here is a quick overview of the most common property categories:
This form of residential ownership consists of small units located in condominium buildings usually containing fewer than 4 stories. Condos provide residents with amenities like swimming pools, gyms and other services. Some condos even allow pets inside them. [Learn More About Condos & Units]
Single Family Houses
They are found across Canada. A typical unit measures 3100 sq feet. Prices range greatly depending on whether they are located in urban areas or rural settings, among other factors. On most occasions, a single family home costs around 200 thousand dollars whereas those in better locations can be worth up to 1 million dollars. [Source]
Townhouses / Duplexes
These houses consist of 2 connected apartments, often referred to as townhouse duplexes. As opposed to traditional townhome developments, these dwellings contain only one floor instead of multiple floors (the difference being the ground level). Townhouses and duplexes are available across Montreal but also elsewhere.
Semi-detached Homes This particular model offers similar characteristics to townhouses except that they contain a larger living space. Semi detached homes typically contain four bedrooms. [Source]
Apartments For Sale If you would prefer to buy rather than rent a place, we advise you check out apartment listings on Realtor sites (like RE/MAXeauville.ca), and browse our database below. Our website is updated regularly in order to display every type of residential listing available. Feel free to contact us if you need more details.
Apartments Listings in a City Like Beausejour, Salluit, Rimouski or Sept-Îles, we are happy to help find you the perfect rental or purchase property. [See more info]
Rental Properties Apartments rentals can be bought individually or grouped together. Depending on the demand of the community, rentals may come fully furnished, unfurnished, or partially furnished. Rents are generally lower than regular sales prices. Contact us today for further help and assistance.
Homes For Sale We will gladly assist you in finding the right piece of land to build your dream home on. Please use the search box above, enter your criteria then click 'Search'.
If you don't see exactly what you're...
- Examining Real Estate Market History in Quebec
- A lot of people buy property because they have children. They get excited thinking about having kids, but then reality sets in and they realize they aren’t going live near family anymore. Maybe they already bought a house, only to find out that their commute sucks. If this sounds like you, don't worry—you're not the first person to go through this phase of life. You'll eventually be able to afford a nice place close to work, school, parks, friends, and other things important to you that will help support raising a big brood. But buying a starter home is still a good idea. Why? Because it's often easier than finding a larger home, and you won't always have to pay market price.
Here are five ways to cut costs in order to afford a better home.
1) Buy a smaller place
Buying a small apartment isn't nearly as bad as living in something bigger; the problem is most apartments come equipped with stuff you probably won't actually use. When you rent, you usually don't see that stuff until after moving day anyway. So why should you care? Because those items take space away from you—and from your wallet.
2) Think twice about amenities
If you've got a choice between paying $400 extra per month to live somewhere fancy versus getting just slightly nicer digs that you'd rather keep closer to your job, which would you pick? Chances are that you wouldn't spend four times as much on extras without noticing them. So unless you really need everything you can imagine, try to pass up the luxury options. The savings could easily offset whatever monthly fee it takes to enjoy the perks.
3) Rent instead of own
Even though owning a home often makes financial sense, renting gives you flexibility and saves you hundreds every year. Not many properties for sale are worth investing thousands into, especially since prices tend to rise year-to-year. And with interest rates hovering around 2%, you can affordably invest in rental homes. If you decide to purchase a home someday down the line, you can sell it for a profit while the value rises around town. Plus, renting helps ensure you avoid being caught flatfooted by rising rents.
4) Find something cheaper nearby
Your area has no shortage of real estate listings. Search online for houses priced under the average asking rate in your neighbourhood and look for signs of distress. These days, distressed sales typically mean deals—like ones where the owner needs to sell quickly and cheaply due to unexpected problems like divorce proceedings. But it pays to investigate a bit further—if a listing says "Sold" under "Status," check for clues as to whether that seller was forced to leave the region quickly.
5) Shop around for mortgages
Most lenders offer loans that allow buyers to finance part of the cost of a move. For example, say house hunters are eyeing a home with a total mortgage payment of $300,000. A buyer could apply for financing for 20 percent of that amount ($60,000), leaving her with a remaining balance of $240,000 she has to cover herself. Lenders charge fees ranging anywhere from 0% to 3% of the loan amount. Most banks tack on another...
- Getting approved for your New Home Purchase in Beauharnois, Quebec
- Beauharnois is located in Laval region, which is known for being Canada's most desirable neighbourhood to live. Not only will living here be highly rewarding financially but it gives you peace of mind knowing exactly who lives next door to you and who drives past your house every day without stopping.
If you're planning to buy an apartment property anywhere else in the city besides downtown, I would suggest starting outside of this area; however if you love the suburbs then I'd recommend buying inside the ring road. If you already own a home elsewhere, why rent another place just because you like the sound of living at "X" address on the map?! In terms of real estate prices, the city ranks among Montreal's most affordable regions.
Since the population density is higher than many other parts of Laval, the median price per square foot should still be less expensive. There are lots of great properties available outside the downtown core, making it easier for first time buyers, retirees and investors alike.
Here are some tips regarding the most suitable location(s).
Locate yourself near transit stations, grocery stores, hospitals and schools. Ideally, locate your property near a park & ride facility and avoid having long drive times to school/work. Also, try to find somewhere close to parks and playgrounds.
Don't forget to check the distance between the train station and the closest metro station. Make sure you consider walking/biking distances along with train travel times. Don't hesitate to ask local Realtors for help choosing a good spot.
[IMAGE: Screenshots of Property Search Results]
Your decision on where to invest depends largely upon proximity to work, daycare centres and shopping. When looking through multiple areas, keep these things in mind and narrow down your choices until you arrive at a few places you feel comfortable staying. I've found that once you decide where you actually want to live, everything else falls into place naturally while searching online.
Checklist For Buying A House Or Condo In 2020
1. Check whether your income exceeds 50% of the average monthly mortgage payments (AMPs); i.e. does it cover 50% of your total household expenses?
2. Does your family size exceed 3 individuals, including children?
3. Do you intend moving out of Ottawa in the coming years?
4. Will you stay there indefinitely or move back and forth frequently?
5. Has your financial situation matured enough that you no longer feel insecure about securing adequate financing?
6. Have you decided what type of housing unit you wish to purchase (i.e.: detached homes; condos; townhouses)?
7. Is a certain neighbourhood more appealing to you than others?
8. Would you prefer a single level or multi-level dwelling?
9. Where did you obtain your information on Beauharnois' real estate market conditions, demographics, rental rates, etc.?
10. What factors influence your choice of neighbourhood: commute length; accessibility to amenities; crime rate, etc.?
To get started, visit http://www.xondonow.ca/. Once logged in, select "Property search" under "Local Information". Then enter the following criteria and proceed...
- What makes Xondo Quebec's Most Convenient New Condo/Home Buying Platform?
Xonardo was founded in 2010 by real estate professionals who wanted to provide investors across Canada easier access to top quality pre-construction properties while providing them information on local neighbourhoods, schools and amenities. As well as being the leading pre-construction property search engine in Canada, we work closely together with other members of the Xono Group including Ximo Realty Ltd. which offers brokerage services and Redstone Real Estate Inc. which manages multiple brands including North Shore Realtors® (NHR), Canadian Homes Realty Inc. (CHRI), West End Real Estate Services LLC. & WES International. We understand many people start this journey through us but eventually find themselves asking “Who else should I talk to?” or “Where should I go next?” Our mission is to become known as the #1 trusted resource for new homes buyers. Here are some additional facts about ourselves before we begin our comprehensive guide to buying a new house in Beauharnois … [READ MORE]
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What Makes Us Different Than Other Websites?
We're the most popular website because we focus entirely on helping home owners buy or sell houses without the hassle of getting ripped off.
Because we've helped thousands of Canadians get out of debt and stay put, no matter what happens in housing markets nationwide, homeowners feel comfortable trusting us to help them sell or purchase their homes.
If you own a single family house then you'll love browsing around these channels...
For Sell Your House Fast Without A Agent Or Broker For Serious Buyer. http://bit.ly/buyroommateblogguidesendyourstrange
How to Use YouTube Ads: Stepbystep Video Tutorials To Create Highconverting Videos For Viral Marketing Success. http://bit.ly/buyroommateblogguideyoutubecommercialmakemoneyvideos
Why Should You Watch My Website? The Secret Behind...
- How Xondo makes Home Buying & New Construction Investing in Beauharnois Easy?
- When you purchase property, there is no doubt, it will be a great deal. But how many people realize this is just part of the equation of making money investing in real estate? There are several key pieces to the puzzle when purchasing property. One piece being location which is why I decided to write another edition of my “Ultimate Guide to New Home Investment in Beauharnois, Québec”.
In addition to that, Xondono offers an incredible experience and a unique approach. We help buyers get pre-approved for mortgage financing without having to pay anything upfront! And once approved, you receive a personalized report showing you exactly what you qualify for and the exact amount available. All you have to do then is fill out the necessary documents and submit them to us online!
We take care of everything else and we don’t charge the buyer until they close. Our service includes:
• Free Pre Appointment Consultation
• Instant Loan Approval
• Mortgage Brokerage Fee Waived
If you’d like to see a copy of my original post click HERE.
To learn more about buying real estate on xondosolutions, check out our website here.
- How To Make Money On a New Home or Condo Purchases in Beauharnois, Quebec
- How does XONDO work? We help real estate investors find properties they would love to live in and then connect them with local agents who can provide financing solutions to purchase these homes and condos. At the end of every deal, we take 15% of the seller's profit and return 70% back to the investor along with monthly reports. By investing through us, you get instant cash, no sales commission, no waiting period and 100% legal & tax compliant business model.. As a result you get higher profits than typical broker commissions combined with great ROI on your investments. Are you ready to invest in yourself? Investing in real estate just got simpler.
Why should I buy a new property instead of renting? Buying will save you thousands each year, but renting saves even more over time. A rent stabilized apartment could cost $2500 per month on average without maintenance fees while buying a house could only cost around $1000 plus taxes per month depending on location. Why pay rent when you own something outright? If you sell after 5 years, you'll earn 7x times what you'd be paying on rent! Not convinced yet? Read this article https://www.forbes.com/sites/catherinelylebe... to learn why owning beats renterhood hands down.
What type of properties are popular right now? Here are some examples of common assets sold via XODO: House > Apartment > Luxury Property > Multi Units. So whether investors prefer townhouses, duplexes, single family houses, luxury apartments or multi unit buildings; There are deals available! Check out www.xondoinvestments.ca today and discover why it makes perfect sense to invest in new real estate by clicking below...
Blog Title: 10 Ways Blockchain Can Disrupt Your Workplace Technology | CIOinfosolution
Blog Description: Most companies still believe blockchain technology is a bunch of hype; However, according to IDC research, enterprises will spend approximately US$9 billion globally on blockchain technologies by 2025. Here are ten ways that blockchain is already disrupting HR tech — including benefits automation and workforce management — and how employers must respond. Watch Video Below
Featured Image: No
Section Title: How Will Blockchains Impact Human Resources Tech in 2018 / 2019?
Today, many organizations use human resource software to manage employees' personal information like salary history, leave balance, leave requests, health information, education background as well as career development. But what happens once someone leaves that organization? They lose that valuable information forever.
Blockchain creates immutable records that anyone can read about, view and contribute to. Because people cannot modify content once it reaches consensus, everyone can see exactly when and under which conditions changes occurred, allowing transparency across multiple departments and making records easier to audit. HR managers can now quickly verify employee salaries, identify fraudsters, and keep track of everything from vacation days to sick leave.
Some experts predict that 90 percent of payroll systems used today will become obsolete within five to eight years due to advances in machine learning, big data analytics or cloud computing capabilities. Others say blockchain technology is essential to modernize these legacy processes because it removes central authority control.