Owning a home in Montreal is a big goal. But with prices today, it can feel tough to do it alone. That is why many people are looking at “Plexes” which are buildings with two, three, or four apartments.
When you live in one unit and rent out the others, you are an owner-occupant. Here is why this is a winning strategy in our city right now.
1. Someone Else Helps Pay Your Mortgage
This is the biggest perk. If you buy a house, you pay the whole mortgage yourself. If you buy a triplex, your tenants pay you rent every month. You can use that money to pay the bank. In many cases, this means your “out-of-pocket” housing cost is much lower than if you rented a small apartment or bought a condo!
2. You Can Buy with Less Money Down
Usually, if you buy a rental building as an investment, the bank asks for a 20% down payment. That is a lot of cash! But, if you promise to live in one of the units, you can often get in with as little as 5% down (for a duplex) or 10% down (for a triplex). It makes becoming a homeowner much easier and faster.
3. Great Tax Savings
As a landlord, you can subtract many costs from your taxes. Things like repairs to the tenants’ units, a portion of the school and municipal taxes, and even part of the interest on your mortgage can be “written off.” This means you might keep more of your hard-earned money at the end of the year.
4. Build Your Future Wealth
Montreal is a city of renters, and the demand for apartments is very high. While you live in your Plex, the property value usually goes up over time. Years from now, you could sell it for a profit or use the value you’ve built to buy your “forever home” while keeping the Plex as a money-making investment.
Important Tip for 2026
Remember, being a landlord in Quebec comes with rules. For example, the Tribunal administratif du logement (TAL) has specific rules about how much you can raise the rent each year. Also, if you want to move into a unit that already has a tenant, you must follow strict notice periods.
Buying a Plex isn’t just buying a home; it’s starting a small business that helps you live for less.
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