10 properties you can buy for $270,000 (or less) in Montreal

We know that it is increasingly difficult to buy a first house in Quebec, while real estate prices continue to increase. It is for this reason that 24 hours decided to find properties for sale for $270,000 (or less) throughout Quebec. Today, go to Montreal.

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Why $270,000?

24 hours put himself in the shoes of a couple of young professionals whose gross family income totals $100,000 per year. Considering that each person in the couple earns the same salary, the net household income is approximately $71,275.

So that the budget allocated to housing does not exceed 30% of income, as recommended by the Canada Mortgage and Housing Corporation (CMHC), the couple’s mortgage payments should not exceed $1,800.

To carry out the calculations, we established that municipal and school taxes were approximately $2,000 per year. For condos, we included in the calculation co-ownership fees of approximately $150 per month. In the case of a mobile home, you must also provide an amount to rent the land, which we set at $250 for the year. Heating costs are approximately $100 per month.

With a down payment of $25,000 – and counting other related expenses, such as co-ownership or rental fees – the couple could afford to pay up to $270,000 for their house, according to the mortgage calculator Desjardins. This includes CMHC insurance, which is automatically added to mortgage loans for which the down payment is less than 20% of the price of the property.

Mercier

• Condo
• 239 000$
• 2 bedrooms, 1 bathroom

.

Pointe-aux-Trembles

• Condo
• 259 000$
• 2 bedrooms, 1 bathroom

.

Côte-Saint-Luc

• Condo
• 229 000$
• 2 bedrooms, 2 bathrooms

.

Ville-Marie

• Condo
• 264 900$
• 1 bedroom, 1 bathroom

.

Mercier

• Condo
• 269 000$
• 1 bedroom, 1 bathroom

.

Montreal East

• Condo
• 249 900$
• 2 bedrooms, 1 bathroom

.

Rivière-des-Prairies

• Condo
• 239 000$
• 1 bedroom, 1 bathroom

.

Ville-Marie

• Condo
• 250 000$
• 1 bedroom, 1 bathroom

.

Côte-des-Neiges

• Condo
• 269 000$
• 1 bedroom, 1 bathroom

.

Pointe-aux-Trembles

• Condo
• 219 900$
• 1 bedroom, 1 bathroom

.