MONTREAL REAL ESTATE : REAL ESTATE CANADA

Buying a duplex or any type of plex can be very different then purchasing a home. There are a few reasons why someone would decide to buy one:

• To live in one apartment and have the others help pay for the mortgage
• To buy as a revenue property and rent it all out
• To turn it into one large residence, or
• To sub-divide it into a co-op or condo

The questions you would ask would be similar as if you were buying a home. How old is the roof and windows, what do you pay in heat, etc. Then there are ‘plex’ specific questions:

• What is the vacancy rate? Meaning, out of a period of time, how long has it been empty?
• How much are the rents and when was the last rent increase?
• What is included in the rent? Heat? Electricity?
• Is there a lease, and for how long?

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This entry was posted on Thursday, February 16th, 2006 at 8:26 pm and is filed under Home Buying. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.