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10-30-2012, 10:34 AM
  #44
Oleg Petrov
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Join Date: Jun 2008
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Quote:
Originally Posted by coolasprICE View Post
Dude, before you start justifying spending 300k on a tiny weeny little condo in downtown montreal perhaps you should go on mls or go on a drive to explore what other options exists for that price range.

I'm not going to be criticize those who enjoy living in tiny condos so they can gain proximity to work, but lets be objective. It's not for everyone, in fact, given the options, it's not for most.

On most days - it takes the average person under 1 hour drive to get from wherever they live (laval, west island, south shore). When I used to live in Laval, and study at Concordia, I would make it in 17 minutes outside of rush-hour.

The reality is for even those that have to commute everyday in rush-hour, the benefits of walking to work does not outweigh the costs.

Lastly, in addition to price and living space, the major downside of living in a condo is privacy. Concrete is great but new construction concrete isn't like the older buildings made of concrete. And even the best case scenario, you still have to abide by the buildings noise code - they exist for a reason after all. Going to have a party or want to watch a movie in surround sound at 1 am in the morning - good luck not pissing anyone off.

Having a backyard to play with your kids, dog(s), to entertain is crucial for me now and more so as I get older (I don't have kids yet, but I have a dog and a nice deck to entertain).

I lived in shoe boxes for quite a few years and see no reason moving back to one.

Maybe when I retire I'll see the benefits of a condo / apartment lifestyle once again.
From experience I'd say your best bet is to rent a place that is 4-8 metro stops from the core. NDG, Westmount, St. Henri, Plateau, Jean Talon etc.

You can rent an incredible space for $1000 a month and less if you have a room mate.

a 3 1/2 in this building is going to cost you at least $2000 a month with mortgage, condo fees and taxes.

If you can afford it, spend the $1000 on rent and put the other $1000 in your TFSA.

Oleg Petrov is offline   Reply With Quote