Buying a pre-construction condo in Montréal or on the South Shore: pitfalls to avoid

New condo projects are multiplying downtown, in Griffintown, around the REM stations in Brossard and near the metro in Longueuil. Buying off-plan can be an excellent decision, as long as you understand what you sign. I can represent you at no cost in most new projects: the broker’s fee is generally paid by the developer.

The preliminary contract

In Québec, buying a new condo from a developer starts with a preliminary contract followed by a withdrawal period set by the Civil Code. Read the expected delivery date, late-delivery penalties, inclusions and any price-adjustment clauses carefully.

Taxes

Unlike a resale, a new condo is subject to GST and QST. Check whether the advertised price includes taxes and whether you qualify for new housing rebates.

Warranties

Ask about the warranty plan covering the building, how your deposit is protected and the developer’s track record — visit projects they have already delivered.

Real condo fees

First-year fees are sometimes underestimated. Ask for the projected budget and the planned contingency fund contribution.

Choosing the unit

• Orientation, floor and future view (which neighbouring lots will be built?).
• Parking and storage: included, optional or limited?
• Floor plan: a well-designed layout is often worth more than a few extra square feet.

Reselling before delivery?

Some contracts restrict assignment before delivery. If you are investing, check this clause from the start.

Planning a move in Montréal or on the South Shore? Write to me or call 514 449-8177 for a personalized, no-obligation analysis.