I get many inquiries from local and overseas investors that are interested in investing in Canadian Economy by considering square one condos. There are many reasons that investors prefer investing in Canadian Real Estate, our economy is considered stable and healthy, our Real Estate market only experienced a slight economic declined but recovered very quickly in 2008. Since that time we have seen only positive growth year after year.
There are several ways that you can invest in Real Estate with Mississauga Condos for Sale and experience positive results:
Purchasing a condo and renting it out: With this investing method you are looking to purchase a square one condo in a desirable location such as Mississauga, Square One Area or Toronto. The important factor to remember it has to be close to public transportation for easy commute. Another important factor to remember when buying an investment unit is to look for a condo with low maintenance , it is important to find a unit with a good balance of price, maintenance and condition. It is very common to find a condo with an attractive price but the maintenance is with very high.
Renting the unit will be the next step, the going rate for renting condos in Mississauga are as follows: 1 Bedroom $1900 – $2100 1+ Den $2100 – $2400 2 Bedroom $2500 – $3000 3 Bedroom $3000 – Up By investing in a rental condominium you cannot expect the renter/ tenant to cover all of your mortgage plus maintenance expense if it exceeds the going rate of similar rental properties.
Here is a simple chart that I have that will show you different situations and outcomes when investing in a Mississauga Condo based on current units for sale that are good for potential investment in my opinion:
If you are interested in receiving a weekly report with mississauga condos for sale condo units that are good for investment and detailed outline of potential equity gain , contact me.
Avia is 45 storey tower with a total of 568 unit and estimated occupancy is 2022. Avia towers will be offering 1 bedrooms, 1 bedroom plus dens, 2 bedrooms, 2 bedrooms plus den and 3 bedrooms suite designs.
Parking & Locker: Included in Purchase Price (Suites under 500 sq. ft. can be put on a waitlist to purchase parking)
MAINTENANCE: Suites Approx. $0.59/sq. ft. + BELL $32.77/month (Utilities separately metered) Parking Maintenance: $49.95/month Locker Maintenance: $19.95/month
Look no further, we have a good selection of 1 bedroom, 2 bedroom or 3 bedroom units available in Mississauga around Square One. Since good priced and clean units are rented very quickly it is a good idea to have all the required documents ready before you start your search. In order to lease a unit in Mississauga there are a number of requirements that are requested before submitting an offer for lease:
Once you have all the documents ready you can start your search for an apartment or house!
Have you considered buying a condo in Mississauga ? There are many important factors that you need to consider, the main concentration of condos in Mississauga is all around Square One Area. There are over 50 condo buildings concentrated in the downtown Mississauga core, and many more on the way! That is a lot of units to be bought in the small 4 kilometer radius. Downtown Mississauga offers many restaurants, lounges, community centers and shopping in the biggest mall in Ontario is definitely a bonus. The newly build Sheridan Hazel Business School is attracting many young soon to be professionals in to the area. Everything is within walking distance and there is plenty of free parking around. Now lets talk about how much it will cost you to live in this up and coming area, a one bedroom condo in the newer buildings such as Duke of York, Elm and Webb starts around $350,000. The price varies greatly between building to building depending on how old a particular Mississauga Condo building is.
There are certainly some popular buildings in Mississauga Condo Core, 3880 Duke of York and 3888 Duke of York – Ovation 2, Located at the corner of Burnhamthorpe & Duke of York the two building are connected by a 2-story lobby. The building are around 6 – 10 years old, the units vary from 1 bedroom to Pent Houses. Club Ovation offers , swimming pool, whirlpool, 4 lane bowling alley, virtual golf, billiards and party room. 1 Elm and 33 Elm They are both connected and share underground parking garage and amenities. This is an established community, units vary from a bachelor to 3 bedroom units. This is one of the most affordable condos around Square One. 4080, 4090 Living Arts Dr, Capital Condos are built by Daniel in 2005, the building is located a short walking distance to Square One, Living Arts Center, City Hall, the Central Library, Sheridan College and the YMCA. It offer 14,000 sq ft recreational center with amenities. 385 Prince of Wales – The Chicago is another addition from Daniels to Mississauga Condo skyline. The building was complete in 2011, it is one of the newest condo buildings around Square One. The building offers amazing 17,000 square feet of amenities on the 8th floor including Gym, with Cardio and Weight Equipment, 30 Foot Climbing Wall, Virtual Golf Room, Indoor Pool, Great Meeting Rooms, Indoor/Outdoor Lounge for entertaining.
Overall Mississauga Condos are a great place to live whether you are a first time buyer or a young couple this hip and trendy area certainly has something to offer for everyone.
1. Hire a professional agent, you want to find an agent that will work for you and with you. What differentiates a good agent from an OK agent is how much they are committed to finding you a property; you want an agent who will work with you and understands your needs. It is a good idea to find one agent and work with him or her, it is never a good idea to work with different agents.
2. Get financial pre qualification, visit your preferred mortgage broker and get pre-qualified it will save you time and money. You want to figure out what your comfortable monthly payments will be and stick within your budget. Also keep in mind when you purchase a Mississauga Condo there will be a maintenance fee that you have to account into your monthly payment.
1. Be open minded to newer as well as older Mississauga Condos, some benefits that you will find in older condos such as Webb, Kaneff, Hillcrest and Tucana is the size, these building offer spacious layouts that you do not find in new buildings anymore.
2. Think about resale value of your Mississauga Condo most people live in condos as a transition period before they purchase a home. Eventually you might want to sell your unit remember a one plus den is more desirable over a 1 bedroom apartment. Avoid suited beside the garbage dispenser or elevators
3. Amenities are important factor when looking for a Square One condo in Mississauga, find out how much it will cost to rent out a party room, ask how many visitor parking spaces a building has and what are some restrictions (pets). Talk to some residents and ask about their experience in the building., find out what the ratio of tenant to owner is.
1. Know the comparable sales of the building, the advantage of buying a Mississauga Condo as oppose to a house is the fact that apartments below and above are usually exactly identical, if the unit that you like ends in “05” find out recently sold stats for all “05” units in the same building. Your agent will provide this information for you.
2. When you make the offer make is conditional upon lawyer approval, financial approval and status certificate.
Enjoy Your Mississauga Condo!