When: Approximately 2017 – 2025
Why: Mississauga and Brampton currently have a combined population of close to 1.5 million people and an employment base of nearly 587,000.
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|