NEWS
THE BENEFITS OF BUYING REAL ESTATE
The current trend in the Montreal real estate market is the development of multi-residential rental projects. The construction of these towers seems to meet a pressing need for housing. However, the choice to rent can have perverse and negative effects. Tenants lose out on a huge number of financial benefits and miss out on the exponential effects of real estate investment. At Montclair, we’re convinced that owning is the right choice.
Here are 5 reasons to buy a MONTCLAIR condo in the AURA SUR LE SQUARE project:
1. Increasing the added value of a MONTCLAIR condo
2. Increase in owner's net worth
When you own a Groupe Montclair condo in the AURA SUR LE SQUARE project, the mortgage payments you make each month to your financial institution help increase your equity. It has been statistically demonstrated (Statistics Canada) that the net worth of young homeowners aged 35 and under is 10 times higher than that of renters of the same age. This value triples for homeowners aged 55 to 64! Of course, renters don’t benefit from this increase. Instead, rent payments are classified as a recurring expense, and contribute solely to the wealth of the owner of the rental apartment block.
3. Owning a MONTCLAIR condo helps build your credit rating
4. Stable, regular monthly payments
Pre-determined monthly mortgage payments allow you to plan for future expenses. The latter is normally renewed every 5 years and offers stability, unlike monthly rents. Monthly rents are subject to regular increases. Tenants are vulnerable to increases in the cost of living, creating financial insecurity and instability.
That said, the Montclair Group has developed a business relationship with the Royal Bank of Canada (RBC) in order to offer better borrowing conditions for its AURA on the Square customers. Many of our customers benefit from preferential terms, reducing the monthly financial burden of owning an AURA condo on the Square. This facilitates budget planning and offers financial stability and flexibility for a fixed term, unlike monthly rent.
5. Customizing your condo
Conclusion
