REAL ESTATE PROJECTS AND LOCATION

Saint-Sauveur, May 2005

Dear Readers,

As a follow-up to the magazine’s most recent legal column, I thought it would be timely to provide some useful tips on the following subject:

REAL ESTATE PROJECTS AND LOCATION

Whether buying a new home, a condominium or even a piece of land, all real estate transactions require a thorough analysis of the conditions surrounding this major investment, regardless of the type of project.

The “situs” (the geographic location or sector) of the project should be the primary concern of any buyer, whether they are planning for their dream home, or simply making an investment that they hope to profit from at some point in the future.

In the Laurentiens, waterfront, a panoramic view (land located on a mountainside, for example) or properties situated in one of the higher-end developments – such as those built around a golf course – seem to have the most appeal for those who want to settle “up North”.

Whether building a primary residence or a second home, buyers should always take the investment value and the possibility of a future resale into account when considering the location of a property. Choosing a good location is as much about the value it adds to the property as it is about personal preference.

To the great pleasure of property owners in the North, the average value of property in the Laurentiens has increased by about forty-five per cent (45%) over the course of the past three or four years.

Property located on a river or lake front is scarce and is always a privileged choice as Mother Nature can’t create any more of this highly coveted land.

The property’s topography, the proximity of electrical service (Hydro-Québec), the feasibility of constructing roads to render certain pieces of land accessible, and the number of linear feet of waterfront all constitute the most important factors in establishing the acquisition price.

To conclude, more and more residential projects are being carried out by developers in order to make the most of the ideal conditions offered by the Laurentiens.

For additional information do not hesitate to communicate with me at (450) 227-7077 or at (514) 745-6673 (NORD) or at (514) 688-3131.

About the Author:
Me Michel Labrèche. This column was prepared by Mtre Michel Labrèche, notary, practising in Saint-Sauveur-des-Monts and Laval for the past twenty years. Me Labrèche is also the president of Domaine le Sanctuaire des Lacs. For more information please see www.monlac.com.