OPEN HOUSE WEEKENDS
With lovely weather and a range of available properties, autumn is often considered to be the best time to shop for real estate in the Montreal area. Combine those factors with current interest rates, and the timing for buyers could not be more ideal, according to organizers of Open House Weekends.
An event which happens twice a year, Open House Weekends gives participating developers the chance to showcase their properties by hosting co- ordinated open houses.
This fall’s event is scheduled for Oct. 24 and 25, and Oct. 31 and Nov. 1, and will feature more than 50 projects.
“We want to bring the potential buyers back to the sales offices,” said Jacques Beaulieu, real- estate expert and founder of Open House Weekends.
“A number of them have suspended their idea of buying a house in the last few years because of a feeling of insecurity, the economic situation, and the real- estate balloon that media had announced but that never occurred,” he said, “and we want people to know it’s really a good time to start dreaming again about the prospect of buying.”
With an overall reduction in the number of new condo projects in Montreal this year, many developers will be showcasing properties in recently built developments that they’re hoping to close out by selling their remaining units.
“This is good news for buyers,” Jacques Beaulieu said. “There are rebates up to $ 20,000 available, and some builders even include the parking space in the purchase price, which can be worth up to $ 50,000 — so these are important things to consider.”
For people looking to make a property purchase this fall, Open House Weekends can serve as a priceless resource. The organization’s website contains a range of relevant information, including details on available grant programs, and an overall snapshot of the home- buying process.
“Our online guide is an ideal tool for people in the process of buying a house because they have all the information they need to start getting acquainted with the real- estate market,” Beaulieu said. “Buying a property is a big decision and requires proper research and planning; that’s why we’ve done everything in our power to provide ample information and help people throughout this process.”
But the real benefit of Open House Weekends, he added, is the fact that prospective buyers can visit properties in person, hasslefree.
“The doors of the sales offices are open — you don’t need to take an appointment,” Beaulieu said. “If you’re interested in a property, nothing can replace the value of a home visit. Not only does it allow buyers to see the area, but also the building and unit details, natural lighting based on direction and floor, and so on.”
In terms of attendance, Open House Weekends organizers have noticed an interesting trend over the last few years. With such an extensive amount of information now available online, the buyers that attend the events are more knowledgeable and serious about making a purchase than in the past.
“Although the number of people coming to the events has gone down a bit, the ones that do come are really what we call qualified buyers,” Beaulieu said.
“These are buyers who have the capacity to buy, who know what area they want to live in and what type of property they ’re looking for. They’re more active than ever on the market.”
This is largely evidenced by the success of developments featured in last spring ’s event. For instance, one of the projects showcased during the March event sold 16 of 24 units. Similarly, another participating development in the downtown core sold out incredibly fast.
This time around, buyers will have a range of properties to explore, divided into five categories: affordable units listed at less than $ 265,000; family homes with three bedrooms or more; luxury homes that include high- end condos and houses; heritage homes suitable for history lovers; and projects for boomers focused on lifestyle.
This round of developments will feature some unique projects in Montreal and surrounding areas. Le Conservatoire, one that stands out in particular, is a heritage development in the cosy community of St- Lambert on the South Shore.
The project is transforming an old school into beautiful new condos.
“I want to repeat it again: it’s really time to buy!” Beaulieu exclaimed. “All the conditions are there for buyers; those who are ready and have the means to purchase at this time will be the big winners.”