Buying or renting a home in Montreal is arguably the biggest financial commitment in a person’s life. As such, all future owners of luxury apartments in downtown Montreal need to be assured that they are paying a fair price for their new property and that they will not be forced to deal with unexpected renovations and the costs that come with them. To this end, a proper inspection should be conducted. To help you understand this important issue, here is how we list the main elements that must be inspected before renting an apartment in Montreal.
Are luxury apartments in downtown Montreal affordable?
While predicting the lowest point of housing prices is almost impossible, it is quite easy to determine whether prices are over or undervalued when looking to buy or rent luxury apartments in downtown Montreal. For instance, simply compare the current level of real estate prices with their historical values, to find out what the current market is like. If you buy at a time when real estate is expensive, you will have to keep the property longer to profit from renting or reselling it.
Opting for a house or an apartment?
You can choose between a house and an apartment, depending on your budget and location. Do you prefer to live in a new, spacious open-concept apartment, or in an older house with smaller rooms?
Why renting?
Renting, unlike ownership, tends to facilitate human contact, the spirit of a city and the community.
It allows as well for greater efficiency in the services offered while reducing the costs associated with them.
How to find real estate offers
The Internet has developed the search for real estate in recent years, and you will find many free or paid websites dedicated to real estate. However, it is important to review local classified ads or apartments for rent online. You can now start looking for luxury apartments in downtown Montreal with 2, 3, or 4 rooms for rent.
Electricity and plumbing
The electrical panel must be strategically organized, as a poorly designed configuration can be dangerous. Depending on the age of the property, the electrical panel may only have 100 or even 60 amps. In this case, it will need to be changed, otherwise it may not be possible to meet the household’s fundamental electricity needs. Note that your electrical panel is generally supposed to have 200 amps.
When it comes to plumbing, there is one very important aspect that must not be overlooked. It is necessary to make sure that the pipes are not made of lead. Your pipes must be made of PVC or copper; Otherwise, you will incur significant costs to change the whole system.
Faucets, water heaters, connections to the network, general flow, and non-return valves, must also be inspected. Also, try to identify the presence of water leaks, as this problem will require repairs as soon as possible. Plumbing renovations can be very costly, so be careful.
Beware of cracks
Cracks in a wall are a concern for many homeowners. However, it is difficult to know to what extent these cracks indicate a superficial issue or a problem directly associated with the condition of the foundation. To be sure, and not to conclude too quickly, it is preferable to call upon a building professional. Whether they are a technology specialist, an architect, or an engineer, they will be able to offer you an accurate picture of the situation.
Don’t overlook moisture during the inspection
Carefully examine the walls for signs of mold or moisture. These signs could be the result of a lack of insulation in the property’s walls and insufficient ventilation. Second, check the basement walls for white streaks, in the case that the basement is not yet finished. These efflorescence marks indicate excess moisture and may be a sign of structural damage.
It is also possible that the source of the stains is related solely to moisture in the mortar and concrete mix. If this is the case, a simple cleaning will remove the stains. In addition, the expertise of a specialist will help you determine the extent of the damage.
Check the condition of windows and doors
Windows and doors should also be checked carefully. Replacing them can be very expensive, and their poor condition can cost you a lot of money in heating costs due to heat loss. Please note that if the apartment you are hoping to buy or rent has uncoated windows, you may need to install new ones.
Finally, if maintaining a property seems like too much of a hassle for you, feel free to contact us for more information on renting an apartment in Montreal!
