1600 Shevchenko, LaSalle
Magnificent, clean and bright 3.5 room condo on the second floor. Corner unit, balcony and private garage (access interior building). Building is very well insulated and has elevator. Open concept, fireplace, hardwood floors and Jacuzzi tub. This is 2000 year construction and is very well maintained. The condo fees are $120 a month and there is plenty of money in the reserve fun. Great investment! Safe, great neighbours. The heart of La Salle, public bus at your doorstep.
Condo association is very well run with a healthy reserve fund. I have all the necessary documents on file.
Inclusions: Light fixtures, all window coverings, garage door opener (2x).
CONDO AREA 58.1m & GARAGE 17.3m, (4.8% & 2.4% = )7.2% total expense of the condo
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Jennifer Walker
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Get money back on your welcome tax and possibly a lump sum…all this at the end of April 2010.
If you haven’t owned a property in the last 5 years in Quebec you are eligible to be considered for reimbursements.
You must buy a home/plex that has at least 5 rooms, 3 of which are bedrooms and a minimum floor area of 1,033 ft2.
You are eligible whether you have kids or not.
You have six months from the date of purchase to provide all documents required to receive payment of the financial assistance.
Examples of financial aid:
A family of first-time homebuyers with children
buys a duplex for $345,000. The family will occupy the ground floor and a tenant occupies the top floor.
The household is eligible for a reimbursement of 100% of the real estate transfer tax (“welcome tax”), which is $3,675.
A family of first-time homebuyers with children buys a new “family housing unit” with three bedrooms and a floor area of at least 96 m2 for $285,000.
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The household is eligible for:
A reimbursement of 100% of the real estate transfer tax (“welcome tax”), which is $2,775 and
A lump sum of $12,500
Total subsidy: $15,275
In addition, if it is a housing unit built under the SHDM’s AccèsCondo program, the household would also be eligible for a $28,500 purchase credit.
PLUS….
Households with children who take advantage of this program will be eligible for six months of free public transit access on purchase of a one-year OPUS full-fare pass. These families will also receive two free Accès Montréal cards.
N.B.: Applications for financial assistance can only be submitted towards the end of April, once the municipal council has adopted the new program and it comes into effect.
FOR MORE INFOMATION, GO HERE
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I added this article because I love real estate and educating people on the matter. If you would you like me to work for you, call me 514-402-8444 or EMAIL ME!
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There is more involved then just buying a house. With a condo you are also buying into the management company and how it’s run, other owners, a condo fee increase, a reserve fund and potential immediate maintenance expenses, so there are some things you need to know before buying.
All offers can be conditional upon reviewing the condo documents. In our Annex B, part of the promise to purchase, there is a clause B2.5 that is meant just for condos. It is clearly written:
“REVIEW OF CO-OWNERSHIP DOCUMENTS This promise to purchase is conditional on the BUYER’s examination of the declaration of co-ownership, including the regulation of the immovable and the following documents:”
This is where it is important to have your agent write:
The budget, minutes of annual meeting, reserve fund, and financial statements. I also include: condo fees letter, insurance certificate, municipal and school taxes.
The buyer has a time period to receive and review these
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documents. If the buyer is not satisfied upon examining the documents and wishes to withdraw the promise to purchase, he notifies the Seller in writing within seven days of receiving the documents and the promise to purchase becomes null and void.
There are many things to consider, and this is just food for thought:
How helpful is the president or treasurer of the association when you approach them for information?
Is the building clean and well maintained?
Are you allowed pets and barbecues?
Is there enough money in the reserve fund to pay for any work that the association is talking of doing (you’ll see that in the minutes)?
Are all the owners paying their condo fees?
Is there a management company hired or are the owners running the association?
Is the association maintaining and checking the furnace and roof?
Are the condo fees low and when jobs are to be done, everyone splits the costs?
You’ll also know after the building inspection if some major jobs are coming up.
Just remember that all buildings whether it be a house or condo, will be needing maintenance every year. It’s the big jobs you are looking out for. For example: roof, re-pointing the bricks, re-modeling the entrance, new heating system, foundation work, windows, balconies, etc…
For more information on condos in Quebec, you can visit: Condo Legal
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To search properties go here www.Montreal-Properties.com
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I recently was at an inspection a couple of weeks ago and the inspector had this funky handheld tool that looked like a large Black and Decker stud finder. Looking closer it was showing a camera screen and had many cool buttons. Peter the inspector explained that it was an infrared camera and said that it is going to revolutionize the inspection industry.
This $6000 FLIR B50 (Forward Looking Infra-Red) comes with a 4 full day course on how to use it. Its main feature is to look for air leaks and heat loss. Great for energy audits. It can also check the electrical box for hot breaker and wires, insulation deficiency in walls and ceiling (shows a numeric %), percent of heat lose, active water leaks and old water damage, and it will find good conditions for possible mould problems and more.
What it doesn’t do is find mould and see though glass (but will pick up reflective heat). It also won’t work if it’s the same temperature outside and inside. It does take pictures of the scene and the infra-red.
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The implications of this device will certainly change what seems as a two dimensional inspection into a 3 dimensional one. The idea of heat loss and detection of water damage is a great advantage to a lot of buyers.
A regular inspection right now will run you about $425-$475, with this new tool involved it will probably raise it up to about $150 extra an inspection. This is what Peter is thinking anyway. H did tell me that his instructor’s camera is worth $60,000. Hmmm, I wonder how much he charges for inspections.
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I added this article because I love real estate and educating people on the matter. If you would you like me to work for you, call me 514-402-8444 or EMAIL ME!
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