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Second Home Mortgage

Secondary residences

Would you like to own a second home for weekends? Do you wish you could enjoy summer activities and winter sports or plan family vacations? Do you long for a well-deserved rest by escaping the city or have a home base for occasional business trips? Would you like optimize your children’s educational experience by buying them an apartment just 2 steps away from their chosen university? Whether it be for a year-round home, a seasonal cottage for family vacations or a downtown condominium, the secondary residence programs offered by our lenders were created to help make your plans a reality.

Over the years, your primary residence has certainly increased in value. Use this net accumulated worth on your residence in order to free up a down payment or perhaps even fully pay for your secondary residence.

Do you dream of buying a year-round or seasonal home away from home?

How about a cottage, country home or condo for a change of scenery, a place to create happy memories?

Before taking those first steps in making your dream a reality, you must be well prepared. Why not take advantage of some sound advice? Here are a few points to consider:

You must consider all the financial and practical consequences of your purchase for the next 3 to 5 years. Keep in mind that location is key. Also consider your other lifelong goals, your specific needs and any planned changes to your lifestyle.

The location and zoning of your property can have an effect on your budget plan as well as resale value. Is it in a sought-after sector? Are taxes reasonable? Is the zoning suitable?

Here are some criteria to help guide you in your choices:

  • Type of house and dimensions
  • Ventilation and heating system
  • Insulation quality (degree of tightness of the house envelope)
  • Door and window performance
  • Materials used and possible effects on the health of occupants
  • Air and water quality