You’ve made the important decision to purchase a condo, but you’re wondering how much money you’ll need to make this dream a reality and whether it’s a good time to invest. 

From interest rates and mortgage loans to insurance and financing options, there are many solutions available to you. We’ll break everything down for you, including what you need to consider in 2025 to calculate your investment. 

Interest rates on the downswing

Over the past 7 months, interest rates have already gone down 5 consecutive times, resulting in a skyrocketing number of residential transactions since the end of 2024 and a 52% increase year over year. With even more favourable financing conditions expected for 2025, including additional rate cuts by the Bank of Canada, economists agree that 2025 is shaping up to be a great year to buy. 

The benchmark interest rate is currently set at 3.25%, compared with 5% at the same time last year. Eighty-five percent of borrowers are scheduled to renew their mortgage that were signed while the Bank of Canada’s rate was at or below 1%. Once their mortgage is renewed at a significantly higher interest rate, many owners will be forced to reconsider their lifestyle or even sell their property. Consequently, if all unfolds as forecasted, we can anticipate listings (and thus, supply) to increase. That is indeed good news for prospective buyers! In fact, as of January 1, 2025, the number of resale homes on the market (36,230) is already 14% higher than it was a year earlier. 

Can we expect very low interest rates again?

Economists are still anticipating the benchmark interest rate to drop a few times over the coming months, but these reductions will not be sudden and will not cause major disruptions to the Canadian economy. Global forecasts expect the benchmark interest rate to sit around 2.25% by the end of 2025. So, if you are waiting to invest in the hopes of a radical rate drop, it’s unlikely to happen. 

Eligibility for a 30-year mortgage for all first-time homebuyers

As of December 15, the federal government has adjusted the rules for insurable mortgages to make it easier to purchase a first residential property. First-time homebuyers purchasing an existing property or a new build are now eligible for mortgages amortized over 30 years. This measure will soon be extended to all homebuyers of newly constructed primary residences, regardless of whether it is their first residential purchase or not. This is not a trivial measure, as it allows buyers to significantly reduce their monthly payment. 

The impact of Donald Trump’s election on the Canadian economy

As many may already have noticed, the Canadian economy is likely to feel the effects of Donald Trump’s arrival at the White House and the implementation of new trade policies. 

As a result, buying now is a good idea: you can take advantage of the relatively low benchmark rate in place, and sign a fixed-rate 5-year mortgage to safeguard against potential rate fluctuations and keep your payments stable for the entire period. Market fluctuations could arise should the new president implement some of his promises, such as imposing higher tariffs on Canada. 

Minimum down payment required

While the amount of a down payment can vary greatly, to qualify for a mortgage, you need to have at least 5% of the total condo price. 

If your down payment is between 5% and 20%, you will need to pay for mortgage loan insurance. This will allow you to access a mortgage that covers up to 95% of the condo’s price. 

On the other hand, if your down payment covers 20% or more of the property price, you do not need insurance. Note, however, that if the price of the condo you wish to purchase exceeds $500,000, you will need a minimum down payment of 10%. 

How much does mortgage loan insurance cost?

Mortgage loan insurance protects the lender in case you default on your payment. It does not protect you. Mortgage loan insurance is sometimes referred to as mortgage default insurance, and payments are called premiums. Mortgage loan insurance premiums range from 0.6% to 4.5% of your mortgage amount and vary based on the amount of your down payment. The higher your down payment, the lower your mortgage loan insurance premiums will be. 

Is it better to buy now or continue saving and buy later?

Buying now at 5%

If you choose to purchase your condo now with a 5% down payment, you need to calculate your insurance costs and remaining mortgage amount after 5 years. 

The benefit is that you can enjoy your condo immediately and settle into your home. And, with real estate prices continuing to rise, you will probably pay less for your condo today than you would in a few years. 

Continuing to save and buying in 5 years with 20%

If you choose to continue saving your money so you can buy with a 20% down payment in five years, you will not have to pay for mortgage insurance costs, which can quickly add up. 

Keep in mind, however, that condo prices will continue to rise over the next five years, and, as a result, once you are ready to purchase, overall property prices will have increased.

How can I put enough money aside to qualify for a mortgage?

Several options are available to you: 

Leverage your RRSP

Have you invested funds in an RRSP? If so, did you know that you can use them to purchase your new condo? In fact, you can now withdraw up to $60,000 from your RRSP (rather than $35,000 for the purchase of a first property). That means that couples can withdraw up to $120,000. 

You can use these funds as part of your down payment or to help you cover other expenses, such as moving costs or legal fees. 

Keep in mind, however, that you must repay the full amount into your RRSP within 15 years if you want to avoid penalties. 

Save money monthly

Once you have calculated your monthly mortgage amount, you will be able to figure out how much to save to accumulate a big enough down payment. You can then choose to have this amount automatically deducted from your account every month. 

If you find it challenging to save, you might want to consider automatic withdrawals. This way, every month, the amount you have decided to save will be automatically transferred to your savings before you can spend it on something else.   

Looking to buy a condo?

Explore the Baldwin Condos & Penthouses project, located near Dollard-des-Ormeaux’s future REM station. The project offers new, spacious and bright units that provide total comfort in a pleasant environment. 

For more information, feel free to contact us at 514 316-8003. Our experts would be happy to answer all your questions and assist you. 

Sources: 

https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/
https://www.journaldemontreal.com/2025/01/13/immobilier-retour-des-acheteurs-et-possible-flambee-des-prix-pour-2025
https://www.lapresse.ca/affaires/economie/2025-01-05/peut-on-rever-a-des-taux-d-interet-tres-bas-en-2025.php?sharing=true
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html 

The Baldwin condos and penthouses in DDO on Montreal’s West Island.

On June 5, Baldwin Condos & Penthouses owners gathered on the terrace of Phase 1 for an exclusive event. During the evening, guests had the opportunity to socialize, share ideas and enjoy a unique moment while admiring the sunset.

A friendly, festive event

Guests were able to enjoy the breathtaking rooftop terrace and its exceptional panoramic views thanks to the beautiful weather.

A caterer was on-site to serve a refined cocktail dinner menu for the occasion.

Guests also had the opportunity to chat with the entire Métrocité team and meet the company’s owners: Paolo, Renato and Pietro Rinollini.

Throughout the evening, numerous prizes were raffled off among the hundred or so guests in attendance.

 An evening captured by Moetreal

Moetreal’s media team was present to capture this unique event that will surely be remembered for a long time.

Read the Moetreal article

Interested in the Baldwin Condos & Penthouses project?

Visit our two model condos and choose your unit!

The project with the largest units in Dollard-des-Ormeaux awaits you!

Phase 1: Only 2 units for sale – Move in today
Phase 2: Over 60% sold – Occupancy Spring 2025 or earlier

Don’t hesitate to contact us at 514-316-8003 to learn more.
Our experts will be happy to answer any questions you may have.

Curious to learn everything about the design, materials, and finishes of Baldwin Condos & Penthouses? This month, we have the pleasure of interviewing Georgina Gutiérrez, Assistant Director of Development for this expansive real estate venture situated in the bustling heart of Dollard-des-Ormeaux.

Unveiling the Vision: Exploring the Design, Materials, and Finishes of Baldwin Condos & Penthouses

Right from the start, our aim was to create an elegant and serene ambience that would stand the test of time, providing residents with a welcoming and contemporary setting for years to come. Drawing inspiration from music, particularly the timeless allure of the piano, we sought to infuse the design with a refined yet non-thematic style. The combination of black and white tones, complemented by the natural beauty of wood, played a vital role in achieving this vision.

The exterior of the buildings embodies a striking black and ecru duality reminiscent of piano keys. Taking cues from this concept, the interior common spaces follow suit with a monochromatic colour scheme, featuring a palette of warm greys. To add a touch of luxury and comfort, exquisite wood panels and gracefully draped curtains were incorporated into the decor. Furthermore, we went the extra mile by introducing a musical ambiance in the corridors, creating a truly distinctive environment.

The designs of Phase 1 and Phase 2 are intricately intertwined, exhibiting a genuine sense of continuity and true symbiotic relationship.

Elegant Serenity: Unveiling the Design Elements of Baldwin Condos & Penthouses

The lobby features exquisite black columns, pristine white walls, and opulent translucent curtains, while the all-glass facade bathes the space in magnificent natural light. The 20-foot-high ceilings are adorned with stunning spherical pendant lights, reminiscent of musical notes dancing on sheet music. This room, a harmonious blend of classic and contemporary elements, holds a special place in my heart

In Phase 1, we have created a vast gymnasium decorated with a mesmerizing mural that captures the essence of the surrounding greenery through various shades of soothing green. It serves as an inspiring and tranquil space, distinguished by its slightly brighter colour palette, setting it apart from the rest.

In Phase 2, the grand multipurpose room echoes the design philosophy of the lobby, featuring a fusion of monochromatic hues, including varying shades of grey, along with elegantly draped curtains. The addition of rich wooden ceilings infuses the room with a cozy warmth.

Both phases include thoughtfully designed conference rooms and offices that can be reserved for teleworking, ensuring a conducive work environment. Moreover, all common areas boast high-end ceramic tiles, providing a touch of luxury and sophistication.

As for the exterior, meticulous attention has been given to the landscaping, which will incorporate abundant greenery and towering conifers adorning the facade. You can look forward to an outdoor fitness area, a serene yoga space, and a vibrant children’s park. On the 9th floor rooftop, you will discover a generously sized, fully furnished terrace, complete with an outdoor shower and a luxurious 20-foot-long spa, offering a tranquil retreat above the bustling city.

Unparalleled Elegance: Discover the Finest Features of Baldwin Condos & Penthouses

First and foremost, it is worth noting that all 2- and 3-bedroom condos within the project boast 2 fully equipped bathrooms. Additionally, each condo showcases high-end engineered wood flooring with 6-inch-wide planks, surpassing the average of 4 or 5 inches, lending the interiors a heightened sense of opulence.

The kitchens have luxurious 1 ¼-inch-thick quartz countertops, exceeding the standard thickness of approximately ¾ of an inch. This meticulous attention to detail further enhances the overall quality and richness of the finishes.

In the bathrooms, you’ll find sleek countertops with integrated sinks, in addition to carefully selected faucets conveying a contemporary aesthetic with clean lines and sharp angles. Moreover, all the toilets and bathtubs in the master bedrooms are freestanding, adding an element of elegance.

In the powder rooms, we have thoughtfully integrated 40-inch-long cabinets with two drawers, ensuring practicality and convenience.

In terms of the colour palettes, we have curated a selection of white, black, and various shades of grey, creating a modern and pure aesthetic that seamlessly complements any style.

The penthouses and ground-floor condos boast awe-inspiring 10-foot-high ceilings and 8-foot-high doors. Generous fenestration allows natural light to flood the interiors, while exquisite lighting fixtures further accentuate the ambience. Finally, the penthouses feature expansive and inviting terraces that bathe in the warmth of natural light, providing a truly remarkable outdoor living experience.

Discover Your Dream Home at Baldwin Condos & Penthouses

Has this interview ignited your passion for the project’s exceptional design? If so, we invite you to experience it firsthand by visiting our two model condos and selecting your ideal unit!

Phase 2 – Delivery summer 2024
Phase 1 – Few units available, immediate occupancy

For more information, don’t hesitate to contact us at 514 316-8003.
Our experts will be delighted to answer all your questions and advise you.

Purchasing real estate like a condo offers many financial advantages. Especially in the long term, this type of investment allows you to build up your heritage, to receive additional income if you rent it out, to have a place to live when you retire and, of course, to grow your investment. Today, we’ll explore in detail all the long-term advantages of real estate investment at the heart of a condominium project!

Worry-free retirement

One of the main advantages of buying real estate is that it will allow you to better enjoy your retirement once you’re at that stage of your life. As you know, your income decreases when you retire. Owning a property that is fully paid for is therefore ideal for your budget. You can then live in your condo without any mortgage or rent to pay, or rent it out for additional income each month or even resell your property for a substantial profit, especially if it’s located in an area where real estate has gone up in value. In short, even if you’re young, know that it’s never too early to buy a condo, because this purchase will allow you to maintain your lifestyle and your purchasing power when the time comes to retire.

Living in a pleasant, modern place that reflects who you are

Many buyers choose to invest in a condo to live in it. Indeed, owning your home offers many advantages in the short, medium and long term. You have decision-making power over your layout, but also over everything related to the building, which provides interesting flexibility. . In addition, by living in your property, you get to enjoy its comforts and make any changes you wish in terms of layout. Everything you spend on your condo thus becomes an investment for the future.

Build a legacy

Real estate is certainly the most important element when it comes to heritage. Because it increases in value over time, your condo becomes an important legacy for your children, who can live in it during their studies or even resell it for a profit.

Have a guaranteed income thanks to the rental

Buying a condo to rent it out is a known investment technique. Indeed, by renting out your property, you can use the rent to repay your mortgage and your current expenses. In the long term, your condo will be paid for without you having spent a large sum of money, not to mention that it will have increased in value!

Benefit from tax deductions

Investing in real estate can reduce payable taxes through several strategies. For example, if you undertake certain renovations, or if you live in your condo and you have expenses related to home care for seniors. Also, if you rent out your condo, you can get deductions for certain reasonable everyday expenses you incur to earn rental income (insurance, repairs and maintenance, property taxes, interest and bank fees, management and administration fees, etc.).

An investment financed by borrowing

When the time comes to make financial investments, it’s generally quite difficult to borrow to finance them. This isn’t the case in real estate! Mortgage loans are actually accessible and certainly safer, especially in the long term. Thus, at the end of the loan’s term, you’ll be the holder of a high value asset, with your upfront investment having been generally quite low.

Enjoy guaranteed interest rates for up to 18 months

By choosing the Baldwin Condos & Penthouses project, you gain access to the “Special Builder’s Program” developed by major financial institutions (Desjardins, BMO, RBC, TD and Scotiabank). This program guarantees your interest rate for up to 18 months. If interest rates go up, you’re protected. And if interest rates go down, you benefit as well! Contact a sales representative for more information.

Invest in Baldwin Condos & Penthouses

As the largest new residential real estate project in Dollard-des-Ormeaux, Baldwin Condos & Penthouses is an ideal choice for long-term investing. Located very close to the future REM station, in a sought-after area in the west of Montreal, your purchase will benefit from a guaranteed increase in its value over the years.

Phase 2 – Delivery Spring 2024
Phase 1 – Few units available, immediate occupancy

For more information, please contact us a514 316-8003.
Our experts will be happy to answer all your questions and advise you.

For many of us, buying a home has been a lifelong dream, which is understandable since home ownership is one of the most important life projects one can have. Here are 10 reasons why purchasing a condo is one of the smartest investments you’ll ever make!

1. Having a place to live is a priority for everyone

Having a roof over your head is a necessity. Consequently, there will always be a demand for the real estate market. Whether you’re planning to live in your condo or rent it out, chances are it won’t remain uninhabited!

2. Real estate is a stable and profitable investment in the long term

History has shown that owning real estate is the most secure investment one can make. Of course, the increase in value will depend on the chosen location, economic landscape, urban development, demography, etc. By choosing your condo wisely, taking into consideration the market’s evolution and focusing on the long-term, you will ensure a profitable investment. This security will allow you, for example, to enjoy your retirement without having to worry about financial problems.

3. Mortgage payments are often similar to rent payments

A rent payment is generally comparable to a mortgage payment. However, rent is an expense whereas your mortgage is an investment that will eventually become profitable! As a tenant, you’re not building equity, while a condominium is a real estate asset whose value increases over time.

4. You can use the leverage effect

The leverage effect, a financial technique that is gaining in popularity with investors, consists in taking advantage of a property’s increase in value by remortgaging it to invest in a new purchase. This refinancing allows you to buy more real estate, thus growing your assets. Your first investment then becomes a substantial source of credit over time.

5. You can benefit from tax deductions

Depending on how you use your property purchase, you can benefit from tax credits as some expenses are deductible. This is the case for some types of work on the property or if you rent out your condo.

6. Develop your space to fit your tastes

Purchasing a condo from a plan allows you to choose your layout, materials and finishes to create an interior that reflects your style. What’s more, you will benefit from turnkey delivery.

7. Benefit from the latest construction standards

Buying a new condo means owning a place built using the latest innovations in terms of construction and insulation—you’ll save yourself a lot of work for years to come! However, make sure to properly perform an inspection with an expert when taking possession of your condo to avoid any unpleasant surprises.

8. You get to make decisions

As a co-owner, you have the power to make decisions regarding your building complex. By sitting on the board of directors or simply voicing your opinions during co-owner meetings, you will take part in decision-making regarding common areas, unlike tenants who don’t have any say in those matters.

9. Properties near the REM will increase in value

While the REM is not yet in service, recent studies show that properties near the future stations will substantially increase in value. The selling prices of condominiums located less than 500 metres from a metro station are 11.2% higher than those located 2 to 4.5 km from that same station, according to a study conducted by JLR Land Title Solutions. Thus, we can easily predict a significant increase in prices and added value for condos near an REM station.

10. Your interest rate is guaranteed for up to 18 months

By choosing the Baldwin Condos & Penthouses project, you will access the “Builder’s Special Program” developed by the major financial institutions (Desjardins, BMO, RBC, TD, and Scotia Bank). This program guarantees your interest rate for up to 18 months, so if rates go up, you are protected, and if they go down, you still benefit from the lower rates! Contact a sales representative to learn more.

Baldwin Condos & Penthouses: an informed choice

Baldwin Condos & Penthouses, the largest new residential real estate project in Dollard-des-Ormeaux, offers a privileged living environment in direct proximity to the future REM station, between the bustling city life and the tranquillity of surrounding nature.

Delivery: winter 2023 / spring 2024

Don’t hesitate to contact us at 514 316-8003 for more information.
Our experts will be pleased to answer your questions and give you advice.