Apartment versus studio in Montreal: the real ownership trade-offs after 96 days

[BriskTable]

I’m 96 days into comparing two similarly priced Montreal properties: a 1,780 sq ft apartment and a studio. The apartment appears simpler to maintain, while the studio offers more control but could leave me carrying larger, irregular costs.

My model includes financing, insurance, energy use and resale liquidity. I’m also considering tenant demand, vacancy risk and management workload if I rent it later. Nothing looks disastrous individually; it’s the accumulation of loose ends that worries me. What should be on a practical pre-purchase checklist, and which costs tend to become apparent only after the first year?

 

[drawsAndMeadow]

The missing fact is the ownership setup. Are both properties part of shared buildings with common budgets and reserves, or does “more control” mean the studio has fewer shared obligations? That distinction could reverse your maintenance assumption. Compare what each owner pays directly, what is shared, the condition of the reserve, insurance exposure and any major work already being discussed—not just the current monthly cost.

 

[cairn.common]

I’d push back slightly on treating the apartment as automatically simpler. At 1,780 sq ft, energy use and upkeep may be substantial even if the building handles common areas. Meanwhile, a studio can have broader tenant demand at the right price, but vacancy hurts more when there is only one compact unit and no flexibility in layout.

Before deciding, run a bad-year scenario for each: higher insurance, an irregular building charge, one vacancy period and slower resale. Then list how many decisions and contractors you would personally need to manage under each setup. The better choice may be the one with fewer ways to exceed your cash and time limits, not the lower normal-year estimate.