Thinking about looking for the condos for sale in Montreal? The city has a vibrant real estate market with many options for first-time buyers. However, it can be overwhelming to know where to start. Whether you’re drawn to the hustle of downtown, the charm of the Plateau, or the quieter areas of Montreal, selecting the right condo is crucial. It will impact your lifestyle and finances for years to come. In this guide, we’ll outline the key steps for choosing your ideal condo in Montreal, along with important aspects to consider as you explore the city’s condos for sale in Montreal.
1. Set Your Budget for Condos for Sale in Montreal
The first and most important step when buying a condo in Montreal is setting your budget. With the local real estate market growing increasingly competitive, knowing your financial limits will help you narrow down your options.
a. Define a Realistic Price Range
The market for condos for sale in Montreal is big, and condos vary widely depending on the location, size, and amenities. As of 2025, condos typically range from $250,000 to $600,000. However, prices in downtown or the Old Port can be significantly higher. Additionally, in addition to the price of the condo, don’t forget other costs like condo fees, property taxes, and insurance. These can add hundreds of dollars each month to your expenses.
b. Get a Mortgage Preapproval
Before you start visiting different condo options, it’s crucial to get pre-approved for a mortgage. This will help you understand how much you can afford and also show sellers you’re serious about buying. Therefore, speak with a mortgage broker or your bank to get pre-approval. Also, don’t forget to ask about programs for first-time buyers in Quebec that could assist with down payments or reduce your costs.
2. Research the Montreal Real Estate Market
The market for condos for sale in Montreal has seen steady growth, particularly in downtown and southwest areas. As a result, researching market trends will help you decide if now is a good time to buy, based on factors like interest rates, supply and demand, and property values. With an informed view of the Montreal condo market, you’ll be better prepared to make a wise investment.
3. Consider the Size and Layout of the Condo
The condo’s size and layout are crucial when making your decision. How much space you need depends on your circumstances, lifestyle, and long-term plans.
How Much Space Do You Need?
Think about the space you need to live comfortably. For example, a 1- or 2-bedroom condo might be perfect for singles or couples. On the other hand, if you plan to live there for years or have a family, you may need more space. Be sure to check the square footage and ensure it fits your daily needs.
Think About the Future
Even as a first-time buyer, it’s important to think about your future needs. Will the condo suit your needs as your family grows? Does it have space for a home office or guest room?
Open Concept vs. Closed Spaces
Condos in Montreal vary in layout. Some feature open-concept designs, which create a spacious feel. Others have separate rooms for privacy. Therefore, consider which layout best fits your lifestyle—do you prefer open spaces for entertaining, or would you prefer more privacy with closed rooms?
4. Evaluate Condo Amenities and Features in Condos for Sale in Montreal
One of the great advantages of condo living is the amenities. These can enhance your lifestyle, but they also impact your monthly fees.
What Amenities Are Important to You?
Common condo amenities in Montreal include gyms, pools, rooftop terraces, and parking. Some buildings offer additional perks like 24/7 security and concierge services. As a result, think about which amenities matter most to you. If parking is a priority, make sure it’s included or available for purchase.
Assess the Building’s Age and Condition
Older buildings often have unique charm but may need more maintenance. Newer buildings usually offer modern amenities but may have higher fees. Therefore, make sure to check the building’s maintenance history and confirm it’s up-to-date with necessary repairs. Also, inquire about the building’s reserve fund to ensure it has resources for future repairs or renovations.
5. Factor in Hidden Costs: Condo Fees and Property Taxes
Remember that condo fees and property taxes can significantly affect your budget.
Understanding Condo Fees
Condo fees cover maintenance costs for shared spaces and amenities. These can range from $200 to $600 per month, depending on the building. Some buildings with more amenities may have higher fees. Always ask for a breakdown of what the fees cover to ensure they fit your budget.
Property Taxes
Condo owners in Montreal must pay property taxes, which depend on the condo’s value. Generally, taxes range from 0.7% to 1.1% of the condo’s value annually. Be sure to prepare for these costs, and don’t hesitate to ask the seller for past tax records.
6. Conduct a Professional Inspection
Before committing to a condo, it’s essential to arrange for a professional inspection. Even new condos may have hidden problems, so it’s important to ensure you’re not overlooking costly repairs.
Hire a Condo Inspector
A professional inspector will check for potential issues, such as water damage, electrical problems, or plumbing failures. This will give you peace of mind and help avoid future expenses.
Make an Informed Decision
Choosing the right condo in Montreal can be an exciting and rewarding process. By setting a budget, considering the condo’s size, amenities, and costs, you can make an informed decision that suits your lifestyle and long-term goals.
Remember, buying a condo is a significant investment. Take your time, seek advice from real estate professionals, and thoroughly review all aspects of the property. Once you find the perfect condo, you’ll be ready to enjoy all that Montreal has to offer.
