Guide to purchasing a condominium in Montreal

Are you looking to buy your first condominium, get a second one or sell your current one to move into a new unit? Congratulations! Any investment in “brick and mortar” is a wise one, as long as you follow certain steps, from the most logical to the most technical.

Purchasing a condominium in Montreal may seem a bit complicated. Therefore, in order for you to be adequately prepared, we’d like to invite you to check out our buying guide below with an overview of the process. It will give you a clearer picture of the subject so you can make the best possible decision.

  1. Thinking about co-ownership? This is a relevant question, especially if this is the first time you’re purchasing a condominium. You should be aware that, as a co-owner, you will share certain expenses with the other co-owners, including the costs of social activities, repairs and maintenance to the common areas and management of the services provided to the community. Being a co-owner also involves attending periodic meetings to ensure that the complex runs smoothly. You may also have to assume specific responsibilities in accordance with your level of comfort and skill. Living in a condominium means being able to benefit from common areas (gym, pool, terrace, etc.) to which you probably wouldn’t have access if you opted for an individual dwelling, unless you were willing to spend a huge amount of money. Even so, it’s a good idea to ask yourself whether co-ownership is the right lifestyle for you.
  2. Evaluating your needs and establishing a budget. This exercise is important because, depending on your financial capacity, certain condominiums may be beyond your means. How much would you be able to spend to purchase the condominium you want? How much are the condominium fees (which pay for the maintenance of the units)? How much would your down payment be? If it’s less than 20 percent of the total, how much will your mortgage insurance cost? Also, don’t forget to enquire about the notary fees and property transfer duties (the “welcome tax”).
  3. Choosing your neighborhood and type of condominium. Learn about the neighborhood, including the lifestyle, mass transit, nearby shops, schools, neighbors and planned new developments in the area. Even if you aren’t currently thinking about resale, never underestimate long-term appreciation. With regard to your condominium, would you like it to come with access to a gym or pool? In that case, you’ll have to make an appointment with the sales office of the condominium you have in mind to find out what amenities they offer.
  4. Requesting pre-approval for a home loan. All experienced developers are affiliated with recognized financial institutions, where purchasers will avail of various options for financing and see their interest rates protected up until delivery of their unit.
  5. Signing the preliminary contract and making a deposit. Have you already fallen in love with a condominium? Perfect! Now it’s time for you to sign the preliminary contract, which confirms the purchase of your unit. This process, which you’ll undertake with the sales team, will be pursuant to getting a home loan. You’ll have to pay an initial deposit, as well as any subsequent deposits that may be necessary, depending on the amount of your down payment. You’ll determine the amounts of these subsequent payments with the sales team at the time you sign the preliminary contract.
  6. Personalizing your unit. If you’re purchasing a new condominium, this is undoubtedly the moment you’ve been waiting for: when a representative contacts you to finish your unit in accordance with your tastes. You can choose the materials for the cabinets, counters, floors, tiles and more. From the arrangement of your furniture to your needs in terms of electrical outlets, carefully consider every little detail because, once you’ve made your choices, there’s no going back.
  7. Following up on the work and deadlines. If you’ve purchased a condominium off-plan or pre-sale, all you have to do is monitor the progress of the work, pay your upcoming deposits and get ready to set up housekeeping as soon as you’re able to take possession of the unit!
  8. Completing the final procedures prior to taking possession. Approximately two months before the delivery of your pre-sale condominium, you’ll receive instructions from the acting notary, who will confirm any adjustments, including the balance due, the condominium fees and the co-ownership working capital, which you must pay to the notary when you sign the deed of sale. You must also provide proof of insurance at that time.
  9. Signing the deed of sale. Among the most official steps, you will now visit your unit. Following the inspection of your unit and the signing of the receipt documents, you must sign your mortgage agreement, followed by the deed of sale. You’ll also pay the final installment of your down payment. With a copy of the declaration of co-ownership, your location certificate and the deed of sale in your pocket, you’re now officially an owner!
  10. Moving in! Oh, yeah! After going through all of these procedures, you can finally put your moving boxes in your new home. You’re now ready to contact the property managers in order to reserve the elevator for your movers. Additionally, don’t forget to do your change of address. To ensure that you don’t forget anything, download our moving and change of address checklist.


It’s a distinct possibility that the condominium development Les Loges will satisfy all of your criteria. Here in the heart of this rapidly growing area, near the Assomption metro station, you’ll enjoy urban vitality, places resolutely devoted to nature, and comfortable, well-equipped units. An outdoor pool, a workout room, gardens, an observation deck with an incredible panorama of Montreal, nine-foot ceilings, a modern design, appliances included… Everything you ever imagined—and more—is waiting for you at Les Loges!

Source: Montréal Guide Condo. Condo neuf: 11 étapes d’achat [New condominium: 11 steps to buying].