If you live in Montreal but crave more house and a sizable tract of land to call your own, then you’re going to fall in love with Gore, the suburban neighbourhood of Saint-Jérôme. Ranked No. 1 in our top Montreal neighbourhoods list, Gore offers up some true bargains—at just $192,289, its average home price is almost $150,000 lower than the city overall. “Because of some new developments, Saint-Jérôme is now a booming bedroom community of Montreal,” says Peter Rawski, realtor with Londono Realty Group. “But it’s a mishmash,” he explains. This North Shore community offers older raised bungalows clad in siding, which start in the $180s, all the way up to a two-storey new-build that runs a cool $480,000 or more. “This area is heavily forested and homes typically have very large backyards,” says Rawski. “So you end up feeling like you’re in the middle of nowhere, but you have the amenities of the city nearby.” Still it’s a 30- or 40-minute drive to downtown Montreal, probably a big drawback for anyone craving urban nightlife.
If you want to live a little closer to downtown, consider Vaudreuil-Dorion, our No. 2 neighbourhood. An off-island suburb of Montreal, its average house price is below the city average at just under $271,000. “This is a very English section of Montreal, and it attracts Baby Boomers and young families that want detached homes near the city’s western island,” says Rawski. A family can buy a solid bungalow that can be easily renovated, while Montreal’s Vaudreuil-Hudson commuter railway line services the southern portion of the community.
Photo gallery: Top 25 Montreal neighbourhoods to buy in »
Buyers who love downtown and don’t want to leave the island, meanwhile, should take a look at our No. 3 and No. 4 communities of Mont-Royal and Montréal-Est.
Mont-Royal is generally not for first-time buyers: To get into this tony downtown neighbourhood you should expect to pay more than $1 million. “But even at this steeper price point, the area still offers great value,” says Rawski. That’s because its location—central to Université de Montréal, McGill and Concordia,the city’s three large universities—makes Mont-Royal one of the most active rental spots in the city. Most homeowners in this area have at least one if not more rental units in their homes, says Rawski. “Homeowners can get top dollar because students and urban professionals want to live in this neighbourhood,” says Rawski.
A more moderately priced rental investment community is Montréal-Est. “I work with a lot of investors and time and time again, people will end up buying in this east-end urban neighbourhood.” Although you can find single-family homes, the area is dominated by duplexes, triplexes, even eight-plexes—and many of them are outdated and need remodelling. “It’s good value if you can buy a building, spend $100,000 renovating and then charge premium rents,” says Rawski.
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