Mississauga's Premium Condo Website
Regardless if you are a first time home buyer, an experienced investor, or someone who is just simply interested in the Mississauga condo real estate market, you have come to the right place. This website is your one stop destination for everything you need to know about downtown Mississauga condos, also known as Square One condos or City Center condos. Using state of the art technology, we have engineered the ultimate all-in-one condo website. At www.MySquareOneCondo.ca we believe in educating people about Mississauga condo real estate by providing as much relevant information as possible. This includes, having a thorough Mississauga condos for sale MLS listings section, an interactive Square One condo real estate blog, and an opportunity to review Mississauga condos.
When designing the website we had one goal in mind – how can we make shopping for a condominium in Mississauga as easy as possible? We believe the answer lies in giving clients the accessibility and freedom to shop for a condo from their home computer, without the immediate need of a real estate agent. Once the person is familiarized with Square One condos for sale, and is ready to contact a condo realtor, we are ready to help.
Many find our real estate blog helpful as it keeps the public informed about the newest pre-construction condo projects in Mississauga, latest price trends and it also provides tips for both sellers and buyers. We update this blog on a weekly basis with all exciting Mississauga condo news.
Finally, our Mississauga condo review section lets property owners, apartment renters and potential buyers give feedback and state their opinions on various Square One condos.
We hope you will enjoy your stay.
Over the past five years electrical cars have been becoming more mainstream, and slowly adapted by the masses. The primarily automotive leader in this space; Tesla, has been expanding its charging stations throughout the country.
Currently there are no Mississauga Condo buildings which offer electrical car charging stations. The closest ones are about 5KM away from the downtown core, as shown here.
New condo builders like Pinnacle International have recognized this new trend, and will offer buyers the option to purchase a charger for their individual parking spot. The first condo project to offer such an option is Amber condo.
The cost for such an upgrade at the moment is $10,000. We do expect this number to come down in price as more and more builders adapt this practice.
Aside from having private car charging stations, we do anticipate that new condo developers will begin to add electrical vehicle chargers to some of the visitor parking spots found in condos.
As of October 17th, 2016, some Canadians may find it more difficult to obtain a mortgage in order to purchase a home. Below I will discuss the FOUR major changes within the system; who it affects and what this means for the housing market, more specifically, the Mississauga condo market.
Rule 1: Mortgage rate “stress test”
What is a high-ratio mortgage and who does it impact? The Canadian Government now requires those with less than 20% down payment to purchase mortgage default insurance. Therefore, anyone with less than 20% down payment is considered to have a high-ratio mortgage.
All high-ratio insured home buyers must now qualify for mortgage insurance at a rate of 4.64%. Though banks offer interest rates at 2.5%, institutions want to ensure borrowers can still make their monthly payments in the event that rates increase. This new rule came into effect on October 17th, 2016.
As pre-construction condos are rising in popularity and we know of all the current builder projects and their plans to expand their developments, it is to no surprise that a brand new 10 Tower project development has been announced. Many have wondered about that large piece of land; 15 acres to be exact, of land that is just to the east of the Grand Park Tower and Grand Park Tower II buildings and what would come of it.
About 3 years ago, Rogers Real Estate had submitted a plan proposing a project that was then named Garden City, which was changed once they filed for the trademark “M City” this July. The trademark included a logo and is related to real estate services. The earlier site-plan that had been submitted with the name Garden City included 5 new streets cutting through the community and still bounded by Burnhamthorpe Rd W to the north, Webb Dr to the south and Confederation Parkway to the east, and the Grand Park Towers to the west.
Since the beginning of 2016, we have seen a few new price records being broken in the Square One area. We have seen one bedroom plus den condos cross over $300k, while some two bedrooms are creeping above the $400k mark. While many condo owners are satisfied to see their homes go up in value, the rising prices do raise concerns over a “real estate market bubble“.
In this blog post I will outline some of the key factors which continue to propel the market forward, and why I believe a real estate market crash is less likely to happen than many people tend to believe.
That said; the market can not rise at this pace forever. There will be a tipping point, at which I believe the prices will stabilize for some period of time.
Over the past year or so, we are having more and more people inquire about moving into a three bedroom condo. In most cases it’s either a family of four (mom, dad and 2 kids) or a family wishing to take their in-laws in to live with them. With freehold house prices well over $700k on average in Mississauga, larger condos do seem like a good alternative. However, 3 bedroom condos are harder and harder to find in downtown Mississauga. This blog will help explain why this is happening.
Costs are high
For anyone looking to buy a new 3 bedroom condo, the price can be a surprise to them. Since most three bedroom condos are in the 1200-1300 square foot range in size, with a cost of around $475 a square foot, the purchase price is often close to $600,000 brand new.