By Jennifer Lynn Walker
I am getting quite a bit of people looking for “NDG Condos” in the search engines and landing on my site. Of course, I am not surprised as it is a very desirable community to live in.
The trendy Monkland street is the heart of the village. For instance it has a touch of new age, organic living with coffee shops, restaurants, and a few pubs. Variety enough to satisfy any style and taste. The district has quick access to the highways, and proximity to public transport. Over the years, it has become very trendy and what started out as one or two blocks of commercial businesses, has turned into twelve and growing. Affluence is moving in. I have had Westmount home owners selling and moving to NDG!
At the West part of NDG are smaller dwellings. In and around Concordia university, there are a lot more students and cheaper housing is available. Most of the commercial area of NDG is on Sherbrooke street West.
Half of the demographic is from 25-64 years and ¾ of the population being renters and half with their university degree. What’s most interesting of all is that 70% of the buildings are seven floors or less. These buildings are the duplexes, triplexes and small apartments in the area. A lot of these buildings are the ones being converted into condos.
Where are all the duplexes?
Back in the day, Monkland NDG was known for its brownstone duplex buildings and large homes. Over the years, a lot of these duplexes have turned into condos, creating more affordable housing. There are two types of condos, divided and undivided. Before you start on your buying journey, you want to know The Difference Between Divided and Undivided. The bank rules, downpayment, and coop agreement are very different.
A great area for real estate investing, is having one area surrounded by other great areas. Neighbouring next to NDG is Saint-Henri. Another very trendy town that has exploded and still growing. When Le Plateau prices went through the roof, all the buyers started investing and fixing up this charming, turn of the century town. Old brick businesses and plexes converting into condos. Read more on Real Estate Investing in Saint-Henri.
What is the allure?
Most houses and condos are about the same price. The allure of condos is the freedom of house maintenance. Because the building itself, the roof, brick, windows, foundation, etc., is common area, you don’t have the hands-on responsibility. The NDG area is a great place to buy. Over the last 20 years, the NDG condo market has proven itself to continually rise in price and be a solid area for great real estate investment.
Repossessions in Today’s Market
I get a lot of phone calls from people looking at getting into flipping houses. I know I get these phone calls because of the mindset that we are in a recession. I’m not sure what clearly defines recession, however I don’t think this is it: The Greater Montreal Real...
My condo garage – Can I sell it separately?
You would think because you just bought a condo with a garage that you could sell it separately. Not always the case. Even if it comes with its own separate cadastre number, doesn’t mean that it has its own title. Condos are separated into common and exclusive areas....
Presenting several promises to purchase
By Jennifer Lynn Walker What happens when there us more than one promise to purchase at the same time? I often get asked, what happens if I receive more than one promise to purchase at the same time? How does that work? The listing agent must respect the OACIQ real...
