Buying a condo in Mississauga can provide a host of benefits, particularly for buyers who are looking for the opportunity to be close to amenities and avoid intensive upkeep in a home. Still, when the time comes to buy a condo, it is important to conduct due diligence to ensure you do not have to endure a case of buyer’s remorse later. When buying a condo, it is important to keep in mind that the process is not quite the same as buying a single-family residence. Consequently, there are different concerns and considerations.
What are the Fees Involved?
Among the first things to consider are the fees associated with the condo you are considering purchasing. Fees are typically levied by the condo association in most buildings. Those fees are used to pay for expenses such as repairs and insurance. Understanding the amount of the fees as well as what they are applied toward is important when buying a condo in Mississauga.
What are the Rules?
In addition, you need to consider the rules that apply to the condo you are considering purchasing. For instance, are pets allowed? If you wish to rent out your unit in the future, will you be allowed to do so? Do certain rules apply to shared facilities, such as the swimming pool? Visitor parking is also important to note since most Mississauga condos allow for a certain number of overnight visitors in the building per month.
When reviewing Mississauga condos for sale, it is also important to develop an understanding of how maintenance is handled. For example, does the condo association hire someone to handle it or are the tenants expected to help with upkeep? This is an important issue to consider as maintenance can affect quality of living as well as the resale value of your unit.
What is the Culture of the Building?
When you are considering purchasing a unit in a building where multiple other people live, it is important to understand what you can expect from the neighborhood, so to speak. One way to do that is to review the condo association meeting minutes or talk to people that already live on the building. In addition to gaining an understanding of whether the condo is primarily owner or tenant occupied is also important. Usually when the majority of residents are owners of the units they tend to take better care of their space as well as the building.
Shop Till you Drop
Buying a condo is a big commitment and it is a process that should end with you finding a unit you will love to call home. Be prepared to view a variety of different styles and options.
Prospective buyers in Mississauga will find that the latest trends in the local real estate market may leave them with few options. Recent reports have found that a variety of factors have led to a significantly increased demand for Mississauga condos. Among those factors are rapidly increasing single-family home prices. The simple fact is that the cost to purchase a single-family home has now become unaffordable for many local residents. The situation has left buyers with the choice of moving further out to the suburbs where homes are less expensive but the commute is longer or buying a condo in Mississauga which offers amenities of a large City.
The scarcity of affordable single-family homes has caused many buyers to be priced out of the more established neighbourhoods in the area. As a result, many families are making the trade-off of opting for condo-style living while maintaining easy access to the local transit system. Construction of new Mississauga condos has continued at a rapid increase over the past few months. In fact, the construction level actually seems to conceal the anticipated demographic needs, potentially signalling a decline in sales at some point in the future.
Even so, buyers weighing the pros and cons between moving to the suburbs and buying a Square One condo often find that a condo wins in the end. Factors such as traffic congestion and increased traffic often incite a desire to live closer to work. Currently, the vast percentage of the condo boom in Mississauga and the surrounding area has taken place in highly desirable neighbourhoods that are well served by the local transit system and also easily walkable.
Yet another factor driving the trend toward condo living is the growing senior demographic. In fact, many luxury Mississauga condo towers are now specifically targeting well-off empty nesters who no longer desire to maintain a larger residence. Location-centric neighbourhoods make it easy to socialize with friends and enjoy a range of amenities.
During the course of the next two years, it is anticipated that the rate of condos for sale in Mississauga will drop off somewhat from the current boom we are now witnessing. Based on a continuing need for affordable housing and the desire of many buyers to maintain easy access to transit systems and a vibrant lifestyle, the overall prognosis for the condo market in Mississauga is expected to remain strong. Some experts are even predicting that over the long-term the price growth for Mississauga condos could rival that of traditional housing.
Do Not Include Hydro
|70 Absolute||50 Absolute|
|90 Absolute||60 Absolute|
|220 Burnhamthorpe||80 Absolute|
|3888 Duke of York||310 Burnhamthorpe|
|3880 Duke of York||330 Burnhamthorpe|
|3939 Duke of York||208 Enfield|
|285 Enfield||1 Elm|
|265 Enfield||33 Elm|
|55 Elm||3515 Karyia|
|3504 Hurontario||3525 Karyia|
|3590 Kaneff||4090 Living Arts|
|3650 Kaneff||4080 Living Arts|
|330 Rathburn||388 Prince of Wales|
|350 Rathburn||385 Prince of Wales|
|200 Robert Speck||335 Rathburn|
|4185 Shipp||360 Square One|
|4205 Shipp||300 Webb|
|250 Webb||335 Webb|
|550 Webb||325 Webb|
|400 Webb||350 Webb|
|300 Webb||225 Webb|
With the large selection of condo buildings around Square One it can be hard to narrow down on the building and the type of condo unit most suitable for your living situation. Most condo buyers fall into one of these categories:
Young Professional / Single Living
When you are a young professional the features that will attract you to a certain condo living will include:
View: An unobstructed view is always desirable when selecting a condo, a view of the lake or the City of Toronto will usually cost you premium but it is worth it even for resale value. Being young profession the ability to entertain can be important and a nice view is always impressing.
High Floor: Nice view and high floor come hand in hand, especially with many new buildings coming up in the Square One area it is a good idea to ensure that your view will not get blocked in the next 5 years by a new high rise, a real estate agent can find out this information for you.
Upgrades: Being a young professional a unit that is upgraded such as high ceilings, granite countertops, stainless steel appliances, hardwood floors play a big role when selecting a unit. You will find that newer condo buildings would have these features as standard and you would not need to invest more money into upgrading the unit.
Amenities: Nice amenities are important when selecting your condo building, a swimming pool, gym and party room are important when looking for the right condo building for you. This will also encourage socializing with your neighbors which will add to the quality of living in a condo.
Building suggestions for young professionals:
Prince of Wales (Chicago) – The building has outstanding patio with flat screen TVs and a barbeque area.
Square One Dr (Limelight) – This new building is attracting a lot of young professionals with its eco- friendly features and state of the art basketball court as well as a gym that offers group games
Absolute Ave – The building has the largest facility with an indoor and outdoor pool, cardio room, weights room and even a spa facility.
223 Webb Dr (Onyx) – One of the newer buildings with very nice finishes and an amazing terrace/party room on the rooftop.
3880 and 3888 Duke of York – Great building that has a bowling alley, swimming pool, theater and a gym.
Condo living as a couple is a great way to start out, here are some features most couples look for when buying a condo in Mississauga.
Spacious Unit: Nowadays the condo units are quite small especially new construction, for two people living in a condo you want to have a spacious unit at least 750 sq ft would allow for comfortable living. I would definitely recommend going for a 1 bedroom plus a den or a 2 bedroom unit. This way you can enjoy living in a condo for a longer period of time without lacking too much space.
Parking: When looking for a condo parking will be important especially if you have more than one car. Most units in Square One come with one parking space however if you are a couple most likely you will have two vehicles that need to be parked. You will want to look for a unit that either has 2 parking spots or a building where parking can be easily rented for not too much money. The average price to rent a parking spot in Mississauga will vary depending on the building $65 – $90 per month.
Amenities: Amenities are important for a couple living in a condo, especially if you like to entertain and you simply do not have enough space in your unit, a party room can be rented or a building with a nice outdoor terrace will come in handy. Also most buildings by Square One have guest suits that can be used for overnight guests.
Location: Location is important when you have two working adults living in one space, a convenient location when each partner can easily travel to work is very important. The Mississauga Square One area is a very convenient location with 3 highways all about 10 min from each other, you can travel to different parts of GTA with ease.
Building suggested for couples:
Living Arts- Great building with a nice location very close to Square One and minutes to Celebration Square.
3939 Duke of York or 220 Burnhamthorpe - The buildings has hydro included in the maintenance fee , it is a clean and quite building with many couples or families living. It also has a shuttle service that provides transportation to the Go Station (Square One)
225 Webb - This building is only 5 years old it features nice finishes and good size units.
Elm – The two Elm buildings are great for start-up with prices and maintenance being very reasonable.
When a family of 3 or more people are looking for a condo living the important factors to consider include:
Spacious Unit: If you have children space plays a huge role when looking for a unit, a comfortable space for a family would be 1000 sq ft or more. Two full bathrooms are also very important for a family living with children.
Good Security: When looking for a building in the Square One area good security can play a big role in selecting a building. You will want to ensure that the building has 24 hour security and security cameras throughout the building.
Kid Friendly Amenities: Kid friendly amenities are hard to find in most condo building, there are however a couple of building that have small playground area.
Building Atmosphere: When looking to buy a condo in Mississauga the atmosphere of the building plays a big role. You will want to find a building with high ratio of owner as oppose to renters, a Real Estate agent will have knowledge of this information.
Building suggested for families
310 Burnhamthorpe or 330 Burnhamthorpe (Ovation/Ultra Ovation) – These building over spacious units while living in the newer condos, you can find nice 2 plus den unit where a den can be converted into a third bedroom.
3880 and 3888 Duke of York - In this building you will find reasonably priced 3 bedroom condos , also hydro is included in the maintenance fee.
335 Rathburn - This is a very nice and quiet building suitable for a small family
Most older residents look for a condo living as a downsize opportunity with less maintenance, no stairs and upkeep to worry about.
Spacious Unit: Moving from a house to a condo many older residents find that new units are quite small even for downsizing. Especially if they are used to a bigger property downsizing can be hard, I find that older building are quite suitable for adult living with units over 1000 sq ft.
Lower Floor: Lower floor is also important for older residents, in case of emergency or fire alarm stairwell has to be used and exiting the building from a lower floor is much easier for older people.
Good Neighbours: Neighbors of the same age is something that many individuals looking to downsize are interested in, you will also find that in older buildings in Mississauga are attractive choice for retired individuals.
Wheelchair Accessible Entrances: This is an important consideration when selecting a building in Mississauga
Building suggested for older adults
The Collegeway – These building are a popular choice amongst the older public, they offer great security spacious units and great atmosphere.
330 or 350 Rathburn – Reasonable priced units and spacious apartments are one of many features of these 2 buildings.
250 Prince of Wales – This building specializes in adult living with exclusive units and assistance living.