Real Estate Talk:
The perfect property

There is no perfect property when searching for a home

By Joseph Marovitch

Updated August 28, 2025

A buyer can search for months and never find a property unless their expectations are realistic and there is knowledge of real estate psychology. When searching for property, a buyer will have specific criteria based on their needs. However, a residence where the seller has been living for a long time is almost always a reflection of their mindset.

If the property is very well-maintained, in excellent condition, and has a specific colour scheme and style, this reflects the owner’s style and preferences in terms of how they prefer their home to look. If the property is a mess, dishevelled, complete of books, files and coffee cups, this can reflect a person whose priority is work and not as concerned about the condition of the house. No two people think the same.

Therefore, a buyer must create two lists when searching for a home. The first is a list of criteria from the most important to the least essential items needed. Second, a list is compiled upon visiting a property, detailing both the positive and negative traits of the property.

If the pros outweigh the cons and there are no deal breakers in the cons, then this house may be the one with a few adjustments. If the cons outweigh the pros, it is better not to waste time and move on. Finding a perfect property means you may have met your soul mate.

The following provides more detail on the issue of the perfect property.

Many buyers search for the perfect property, and if there is any issue, blemish, or a mouse in a pipe, the buyer will stop the sale.

There is no perfect property when searching for a home. Every property has an issue. If all properties were perfect, there would be no individuality; we would all be and think the same. Where one lives and the state of their property are often a reflection of how one feels and how their thought process is structured. Therefore, if one finds a perfect property, they have likely seen a seller who thinks like the buyer. This is rare and seldom the case.

Many buyers search for the perfect property, and if there is any issue, blemish, or a mouse in a pipe, the buyer will stop the sale. This is not true for everyone, but it is true for many. I have had buyers tell me the colours are not to their taste, or the basement is humid, or the garden is too small.

The positive qualities of the property rarely accompany these comments. It is quite natural for many people to focus on the negative aspects of any situation before highlighting the positive ones. The problem with this thinking in real estate is that buyers can overlook the positive qualities and opportunities that the “negative” issues present.

A property with structural issues presents the opportunity to reduce the purchase price, renovate and increase the property’s value. The property with cosmetic issues also presents an opportunity to upgrade and increase its value. The gain in both situations can be cashed in when selling or refinancing.

When searching for a property, there are three criteria to assist in the decision to purchase:

• The first is to determine how many pros or cons the property has based on the buyer’s criteria, and whether the buyer can benefit from the cons.
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• The second criterion is what the buyer can afford and how much they can afford to invest in the property. A buyer should not overextend themself financially, as it is the worst feeling in the world to have significant expenses but not enough cash flow.
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• The third criterion is what I call the “wow factor.” There are times when a buyer enters a property and instantly says, “Wow, this is for us.” The property may need a cleaning, paint, an extra bathroom or an upgraded kitchen, but the light and space inspire the buyer.

‘If a buyer is searching for a perfect property that requires no changes, they will likely be searching for a long time.’

All purchased homes will typically require renovations or upgrades, depending on the individual buyer’s taste and needs. However, if a buyer is searching for a perfect property that requires no changes, they will likely spend a considerable amount of time searching.

Should you have questions or comments, please refer to the comments section at the bottom of the page. As well, to view past articles, click here.

State of The Market

Unlike the rest of Canada, prices in Montreal have risen 10% compared to July 2024. There are indications of overbidding due to lower supply and higher demand. Overbidding drives prices higher across the board; however, it is not as significant a factor as it was during the pandemic and is not present in every municipality.

There is still volatility in the economy and tremendous uncertainty in world markets that directly affect the Canadian market. On the surface, the prevailing sentiment among many Quebecers is that the market is in a favourable position in terms of interest rates and inflation, which suggests that now is a good time to purchase. In my opinion, now is a good time to purchase, as a rate under 5% can be acquired for a five-year period.

‘In my opinion, now is a good time to purchase, as a rate under 5% can be acquired for a five-year period.’

For those buyers who intend to hold off on purchasing, there is the possibility rates will reduce further, however, there is a higher possibility rates could increase due to several factors such as another pandemic in light of the U.S. discouraging vaccines, world unrest as the U.S. abruptly ceases USAID to countries in need, new or escalating wars due to lack of diplomatic politics and threats to allies of increased tariffs. All these issues slow down supply chains, increase inflation, and thereby raise interest rates.

Purchasing now avoids the gamble of higher mortgage rates, and the odds of further political unrest and geopolitical disruption are in favour of those who buy now as opposed to later. There are still pros and cons whether conditions worsen or improve. The buyer must weigh all possibilities against their assets and decide whether purchasing now, later, or not at all is the best choice. These are decisions best discussed with the buyer’s informed broker and accountant.

For further discussion, leave a comment or call me directly.

Have a great week!

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