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05-26-2013, 04:35 PM
  #52
FrankMTL
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Condo prices may go down, or they also may go up. Its all about location location location. If you bought a condo in Laval, south shore, east end or anywhere in the suburbs where you're just surrounded by other condos are probably not in the best position to make money in the next few years, especially if you just bought in the last 12-18 months where prices have been the highest. However, if you get a decent price on a very central (to Montreal) condo in the downtown area, plateau, mile-end, little italy etc, then your condo shouldn't depreciate in value. Make sure your condo has as many advantages as possible (higher floor, lots of windows and light, quiet street, close to metro station, grocery, restaurants, cafes or other places and conveniences people like being around) and try to have as little negatives as possible (semi basement, very bad orientation with little sunlight, small or no balcony at all, on very loud and busy road etc).

Basically just make sure you're investing your money in a condo that people will pay more for because of all the advantages...IE, perspective buyer that has no car, but has more money to spend on a place that needs to be beside a Metro station.

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