Even in 2025, some classic home buying mistakes just won’t go away. Whether you’re a first-time buyer or making a move in a new borough, these are the five most common slip-ups we still see in the Montreal market, and how to avoid them.
1. Skipping Pre-Approval
Falling in love with a $600K condo only to realize your budget tops out at $500K is a painful and avoidable experience. Getting pre-approved gives you a clear budget, shows sellers you’re serious, and puts you in a better position during negotiations. In hot neighbourhoods like Le Plateau or Rosemont, a pre-approval letter can be the difference between getting your dream place and missing out. It’s one of the easiest ways to start strong.
2. Underestimating Monthly Costs
Your mortgage isn’t the only expense. Think condo fees, municipal and school taxes, home insurance, heating, and regular upkeep. That “affordable” monthly payment can balloon quickly once you factor in the full picture. Many buyers only realize this after they’ve already made the commitment. Take the time to build a detailed monthly budget before you make an offer, not after.
3. Ignoring the Building’s History
A modern kitchen or stylish common area doesn’t tell you how well the building is actually managed. Ask about the reserve fund, past special assessments, and any major work planned in the near future, especially in older buildings. A healthy building can mean peace of mind, while a poorly run one can cost you thousands down the line. Your broker should help uncover this info, but don’t be afraid to ask tough questions.
4. Waiting for the “Perfect” Place
It’s easy to scroll listings and think “just one more month, the perfect unit will pop up.”The truth? Every property will have trade-offs. Focus on your deal-breakers and must-haves, and be open to small compromises. Often, the “perfect” property is one that checks most boxes and has potential you can unlock over time.
5. Not Using a Broker
In a market as dynamic as Montreal’s, trying to go it alone can cost you more than you think. A knowledgeable broker knows the ins and outs of neighbourhood pricing, catches red flags in listings, and negotiates in your best interest, all while saving you time. Most buyers don’t pay the broker’s commission anyway (the seller does), so there’s little to lose and a lot to gain. It’s one of the smartest moves you can make.
Avoiding these common pitfalls won’t just make your buying experience smoother, it could save you money, stress, and regret down the road. Real estate is about more than just square footage and finishes. It’s about making confident, informed decisions that fit your lifestyle and long-term goals.
