Seller's Guide
The Real Cost of Selling a House in Quebec
Most sellers calculate their net proceeds like this: sale price, minus the mortgage balance, minus broker …
The question comes up constantly, and it usually expects a simple answer. There is not one. Whether a triplex or a condo is the better buy depends entirely on financial situation, objectives, risk tolerance and, very concretely, available time.
The case for the triplex
In Greater Montreal, buying a triplex generally means occupying one unit and renting the other two. Rental income partly or fully offsets the mortgage payment, and appreciation applies to the value of the whole building rather than a single unit.
That is the logic that makes a triplex attractive over a ten-year horizon or longer.
The costs most buyers underestimate
Maintenance is real and it is shared with no one. Roof replacement, furnace failure, plumbing emergency: it all belongs to the owner. A maintenance reserve of 1% to 1.5% of building value per year is a reasonable starting point for modelling.
Tenant relations are the other variable. Some owners keep excellent tenants for ten years. Others face late payments or the complexity of Quebec’s rent-setting regime, among the most tenant-protective in North America. A building with below-market rents cannot be freely corrected, and the return calculation has to account for that from the start.
The case for the condo
For a buyer who values simplicity and predictability, a well-chosen condo remains an excellent first purchase.
The real strength: low friction
Condo fees cover exterior maintenance and common areas. That predictability has concrete value for someone whose scarce resource is time.
The hidden risk: the fees themselves
Fees rise over time. A building charging $350 per month today can be charging $600 in ten years, especially if the contingency fund is underfunded.
Before any offer: request the contingency fund study, the financial statements and the minutes of the last three meetings. Unusually low fees are not a bargain, they are deferred debt.
A decision framework
| Profile | What the analysis shows |
|---|---|
| Patient investor, 10-year horizon or more | The triplex wins in most scenarios |
| Professional who values simplicity | A condo in a financially sound building |
| Pure rental purchase, no occupancy | The analysis changes: prioritize cash flow and real yield |
The factor that most often decides is not financial. It is how much time the buyer is genuinely willing to spend on management.
Considering a triplex or a condo? Let’s build the financial model together before you make an offer.
Georges Matar
Residential Real Estate Broker · RE/MAX DU CARTIER INC.
Contact Georges
