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Eric Skicki

Is Mississauga Overpriced?

Written by Eric Skicki Tuesday, June 18th, 2019
  • Then Vs Now.

    The first time that I heard this question, believe it or not, was back in 2012 when I started focusing on Square One condos and Pre-construction condos in the Square One Area. To put into perspective, the resale market for a 1 bedroom condo stood at around the 230k mark then, whereas a similar unit pre-construction was selling for about 250k.

    At that time the project that was selling pre-construction was Crystal Towers (55 and 75 Eglinton Ave West) from Pinnacle International. Buyers kept asking me at that time if I thought the market would crash or if the condos are overpriced. Looking back on those prices now, we can note that they were a great investment. Crystal 2 bedroom units were selling as low as 330k and as high as 360k.

    The 2nd question that I used to get asked and I still keep hearing is if the pre-construction market is overpriced.

    If you note that Crystal was selling between 330k and 360k, then I want to let you know how much the resale market was selling a 2 bedroom for. In an older building in Square One such as Tucana, you could find a 2 bedroom unit for around 210k. This, of course, is a huge price difference. But we need to keep in mind that Tucana was built in 2000 or earlier. If we look onto a building that was completed about a year or so when Crystal Towers started selling we see that the price difference really is not that huge. A much-desired building such as Onyx (223 Webb Dr) was selling a 2 bedroom for around 340k and was built around 2011.

    Fast forward to 2019, I am still being asked that same question. This time, I would like to look at the resale market, to clearly show how much prices have gone up. Currently, a 2 bedroom unit at Tucana sits at around the 430k range depending on how much renos were done to the unit and a 2 bedroom at Onyx goes for around 500k, depending on the size and upgrades in the unit. Clearly, units at Tucana have really gone up a lot in price, but that is because all 2 bedrooms are above the 400 and 500k mark now. Remember those 2 bedroom units that some of you invested in at Crystal, 55 and 75 Eglinton, well they are now worth at around 530k. This just shows that those that have purchased units pre-construction have made money on their units and that the price difference between the newer resale units and the project that was to be completed down the line, was at a similar price range.

    If we look at the project Perla that is in the same community as Crystal and Amber, we will note that a 2 bedroom is going for around 600k. Now, keep in mind that Crystal is already a 5-year-old building and Amber is already over a year old.

    What Does This All Mean?

    Year over year, the condo prices in Square One have seen a healthy increase. I don’t foresee any slowing down. Currently, pre-construction units are sold out as soon as the Platinum phase launches, and the only time there are leftover units is if someone returns a unit for whatever reason. The resale market is still moving units within days, and some units are still seeing multiple offers.

    To answer the real question, if Mississauga is overpriced, it depends what you are comparing it to. If you are looking onto our neighbour, Toronto, and you compare those prices to Mississauga, then no, Mississauga is still considered affordable. If you look outside of larger cities, then yes, Mississauga does seem overpriced. Mississauga has gone up in price, but so has the rest of the GTA. Therefore, it is only normal that condo prices in downtown Mississauga go up in price as well.

    If you are looking to sell your Mississauga condo please contact me here.

    If you are interested in current pre-construction projects and inventory, please contact me here.

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    • This entry was posted on Tuesday, June 18th, 2019 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, Market Statistics. Tags: , , ,

    Eric Skicki

    Mississauga Separating From Peel

    Written by Eric Skicki Wednesday, May 22nd, 2019
    • Back in 2013, Hazel McCallion fought for secession from the region of Peel. Today, our mayor, Bonnie Crombie may actually succeed in separating Mississauga from the rest of the Region. However, we must note that the decision lies with Premier Doug Ford.

      The strong push comes after noting that the city finally needs to focus on spending its tax dollars on its own city infrastructure, such as roads, schools, transit & other. City council believes that this will mean cost savings for its residents. If Mississauga succeeds the city could see an exit as early as 2022.

      Source: The Star

      What Changes & What Stays The Same

      When cities come together within a region, the benefits are usually that cities pool money together for shared resources. This includes the Police force, garbage collection, wastewater collection, and so much more. Bonnie Crombie proposes that these do not have to change, they can remain shared resources.

      What in fact would change during the secession is that Mississauga would focus on spending its tax dollars on the city of Mississauga, as opposed to helping pay for Brampton & Caledon. It is estimated that Mississauga spends roughly $85 million annually to subsidize Brampton & Caledon.

      By separating, that money can be taken to improve public transit, create more affordable housing and offer incentives to commercial industries in order to attract economic investment & growth.

      If the city is granted separation, the city could save millions and focus on what is the priority for Mississauga and its residents. It is also estimated that the average Mississauga household would see a 6% decrease in yearly property tax if the separation delivers on all services.

      This alone could motivate a lot of residents to be in favour of the Mississauga exit. 12 years ago, when the topic was brought up the first time, a study showed that $31 million could be saved by separating from Peel. This time, the numbers are unknown.

      Crombie is pushing for a new study to be performed so that the numbers could be updated. However, at this time, there was no review made. It is to be noted, that when amalgamation is proposed in the first place, it is for cities to share resources or if they already do, then to share tax wealth among rich and poor cities and towns in order to move forward and help each other grow.

      This would mean that shared resources and taxes could expand infrastructure, improve roads, schools, landscapes and other things in the region. When we look onto our neighbour, The United States, we can see how negatively something like not coming together can impact cities. In the States, a lot of tax-rich cities are next to poor tax cities, and they don’t come together to share resources.

      The divide is evident. Look at the different schools and school systems, roads, housing, storefronts, landscapes etc. The result is Third World quality schools, resources, landscapes etc, next to excessively resourced ones. It is not to say that this could happen to Peel, but this is what a lot of residents fear, especially in Brampton & Caledon.


      The Solution

      The best possible outcome for Peel, if they do separate and become independent cities, is to keep their resources pooled together. Focus on keeping the Peel school board intact, the Police force, as well as the Waste & Water management systems.

      The result would be that there are no shortcomings in these well-run areas & the city of Mississauga can focus on different areas that need financial improvement to run properly.

      As proposed, Mississauga can spend its tax dollars on fixing their roads, expand infrastructure, spend money on affordable housing and focus on its own issues within city hall without having to resolve the issues of Brampton & Caledon. This will grow and expand the city of Mississauga and focus on matters that are important to the city and its residents.

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      • This entry was posted on Wednesday, May 22nd, 2019 and is filed under ALL Articles, Other. Tags: , , ,

      Eric Skicki

      The Rec Room At Square One

      Written by Eric Skicki Friday, April 26th, 2019
      • Source: The Rec Room

        What’s all the hustle and bustle about you ask?! The Rec Room is the newest addition to the entertainment scene in the Square One Area.

        The Rec Room opened its doors in March 2019, and sprawls over 2 floors and covers over 44,000 square feet of space and can accommodate up to 1,400 guests. The entertainment complex is a chain that belongs to giant Cineplex and has multiple locations across Canada.

        The Layout

        The Rec Room features 2 floors. The lower floor consists of 4 lanes for bowling, 10,000 square feet of attractions in the area called “The Yard”, a restaurant called “The Shed” and your private dining spaces – The Library, The Hall and The Garage 2.

        The Upper floor features, 3 VR experiences in “The VOID”, the Ax-Throwing Room, restaurant THREE10, a lounge, The Garage 1 as your private dining space.

        The Rec Room offers 90 amusement games, along with pool tables, ping pong tables and 95-plus screens for your entertainment. The Bar serves 32 draught beers, including some of the finest local craft beer.

        Your winnings can be cashed in at the Trophy Case, where you can redeem your credits for items such as board games.

        The Rec Room Is Just Another Dave & Buster’s

        It does seem that way, does it not? Well, asides that Dave & Buster’s is further from Square One Mall, and doesn’t offer Axe-Throwing, live entertainment or 2 amazing restaurants, or ping pongs or nearly as much space and TV screens; however, it does offer an arcade, and VR and a great Dance Revolution Game.

        Yes, although both appear to be fairly similar, The Rec Room has a lot more to offer, but it does not mean that Dave & Buster’s is not a great hang out spot when you want it to be a little less hectic and when you just want an arcade type of night.

        What Does This Mean For Downtown Mississauga?

        This new location expects to bring 250 new jobs to Mississauga. All these new changes that are happening in downtown Mississauga are expected to bring in new jobs, draw more attention to Mississauga, attract more tourists, locals, and people from neighboring cities. It’s a good time to live and invest in Mississauga.

        Want to live in the heart of Mississauga. Fill out our contact form here? Thinking of investing in the Square One Market? Maybe pre-construction is your better bet. Read more here.

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        • This entry was posted on Friday, April 26th, 2019 and is filed under ALL Articles, Investment, Other. Tags: , , ,

        Eric Skicki

        The Food District: Square One’s Newest Foodie Destination

        Written by Eric Skicki Friday, April 5th, 2019
        • Yesterday was the grand unveiling of the much anticipated Food District in Square One. A new  34,000 sq ft food destination to all the foodies out there.

          Square One is currently the third largest mall in Canada, in terms of square footage. As the mall topped a billion dollar in sales, it unveiled a luxury wing with high-end department giant Holt Renfrew and announced a redevelopment that will cost around $580 million.

          Part of the redevelopment would include expanding the north wing ( the former Target area) moving the Chapters on Rathburn Rd into the mall and adding The Rec Room, an entertainment complex by Cineplex that will sprawl over 44,000 square feet and offer two full floors of food and activities.  It will host many restaurants, amongst them Three10.

          The west wing has opened in November with UNIQLO and has reserved 34,000 sq ft for the Food District that will offer a wide array of food hot spots. It will also offer cooking classes, tastings, dinner parties, book signings, and other special events, making Square One a popular destination for all. Some of the restaurants that are calling the Food District home are:

          The Pie Commission – Some of the best pie was born here. Try the beef ‘n’ beer.

          Dal Moro’s Pasta – Authentic Italian pasta

          Craft Chippery – Gourmet chips.

          MidiCi –  Pizza the Neapolitan way straight out of LA. This is Canada’s second location outside of LA, and will offer pizza, pizza, and more pizza, along with antipasto, salads, meat and cheese boards and more!

          The District Kitchen – They will host cooking classes, dinner parties, corporate and special events. 

          Sugar King Factory – Candyland!

          Arvinda’s – Pre-packaged spice Indian blends.

          Bake Three Fifty – Here you can build your own cupcake, milksake and ice cream sandwich. Yum!

          Tao Tea Leaf – Taste different tea flavours for half the year. They have over 180 varieties.

          Blackjack BBQ – Best in town Sweet Whiskey Pork Ribs & Dinosaur Beef Ribs.

          Pier 87 Fish Market & Grill – Fresh or frozen seafood anyone? Your next go to Fishmonger.

          Chocollata Gourmet – Brazilian tradition. Gourmet Brigadeiros with a ton of History.

          The Box Donut – Krispy Kreme who?

          Hale Coffee – Toronto-based specialty coffee roaster.

          BROD – Authentic Danish Pastry house .

          Blossom Moments – Beautiful flower shop.

          La Carnita – If you love Tacos, you will love this Toronto-born Mexican hot spot

          Kingston Olive Oil Company – Taste some of the world’s finest aged balsamic vinegars and extra virgin olive oils.

          The Macaron Boutique – The finest macarons. Order your towers now!

          Sweet Jesus – It’s finally at Square One. Amazing ice cream! Join the rest of the loyal customers by posting on Instagram with your favourite flavour.

          Village Juicery – Cold pressed juice spot.

          Plancha – Spanish cooking with style! Plancha means cooking on a cast-iron plate over an open flame.

          Seed to Sausage – Some of the finest meats with as little preservatives and additives as possible.

          This new expansion to Square One comes amidst all the new construction happening in the area such as M City, The Exchange District, and Avia

          If you have a chance, check out the Food District this weekend. We anticipate a large turnout as it is opening weekend.

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          • This entry was posted on Friday, April 5th, 2019 and is filed under ALL Articles, Condo Features, Investment. Tags:

          Eric Skicki

          The Exchange District

          Written by Eric Skicki Wednesday, March 27th, 2019
          • The Exchange District
            The Exchange District (Developer Rendering)

            Remember when we were saying that the City proposed some new developmental plans for downtown Mississauga? We also mentioned in numerous blogs that what the city was really missing was a new hotel and a lot of chic restaurants. Well, a brand new Toronto developer has taken this as a cue and is doing just that; building out a new downtown core in Square One, dubbed the Exchange District. The developer has set its sights on 3 acres of land that encompasses the site around 151 City Centre Drive. Currently gracing its grounds is a large commercial building with offices and a Tim Horton’s and Dental office at the bottom, along with a lot of parking space.

            The new plan for the site proposes condominium towers, international retailers, a hotel, casual and fine dining spaces, modern offices, accessible green spaces, and a public square.  The renowned developer is Camrost Felcorp, who have developed buildings such as Marina Del Rey Towers I II and III, The Yorkville Plaza, iLofts, California Condos, Imperial Plaza, The Legends, Warehouse Lofts & many more.

            What we know so far

            The site is to host 4 tall condominium towers of modern design upwards of 72 storeys tall. Some of the current renderings suggest completely square buildings with intricate designs offering 2,000 residences. The development will be adjacent to Square One Mall and will not only compete on a national level but global level in terms of luxury and design. The leading architect from IBI and interior designers are some of the finest in the industry and behind projects such as M3 in Square One.

            Redefining Mississauga

            Mississauga is Canada’s 6th largest city. The Marilyn Monroe Towers have been the iconic buildings since they have been constructed and acted as Mississauga’s landmark. However, Projects such as M City and the Exchange District will add luxury and some new iconic towers to the city, taking it to new heights. Mississauga had a hard time competing against a city like Toronto. But once the vision of Downtown 21 becomes a reality, Mississauga can compete with not only Toronto, but cities like New York, Vancouver and London.

            The project is currently in the proposed stages, as soon as floor plans, prices and due dates are released, our team at MySquareOneCondo will keep you posted as always. If you are interested in calling the Exchange District your home please fill out the form below.



            GET PRICES & FLOORPLANS

            REGISTER BELOW AND GET ALL OF THE INFO EMAILED TO YOU IMMEDIATELY

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            • This entry was posted on Wednesday, March 27th, 2019 and is filed under ALL Articles, Articles for Buyers, Condo Features, First Time Home Buyer, Investment, Pre-Construction Condos. Tags: , , , ,

            Eric Skicki

            Avia Condos Platinum Launch March 23,2019 | By Amacon

            Written by Eric Skicki Thursday, March 21st, 2019

            • The much-anticipated condo project AVIA, part of the Parkside Village community, by Amacon is set to launch this weekend! The modern and sleek design of the building will leave you wondering if you are in fact in downtown Mississauga. This next phase will add a whole new look to the Mississauga skyline and redefine elegance. Avia, as per the builder, takes its name from ‘Aviation’ after the sense of movement in its façade and emphasis on sweeping views.  The lower levels will offer retail space for the convenience of its residences, just like the previous towers at Parkside Village. The motto here is “everything right at your doorstep”.

              Join Us for a Platinum Launch Event this Saturday, March 23rd, 2019 for special incentives and exclusive access! RSVP Today for your Spot!

              As soon as you walk through the main lobby, you will be greeted by the splendour that you will call home. Avia incorporates warm features with wood and the soft colours that have been the “it” trend among interior designers. The long wait was worth it. Come home to comfort and style.

              Amenities will be located on the 5th floor of the building and have been designed to keep in mind every resident. The outdoor yoga/ meditation deck and open play area are great for those that wish to relax and watch their children at play or if you wish to throw a Frisbee this is the place. If you practice yoga, you can do so at the indoor yoga studio located right next to the exercise room. The exercise room is equipped with the latest state of the art equipment.  For your little once, Avia offers a separate outdoor play area and an indoor play area. Your guests can stay over at the luxurious suites, after a night in – playing in the gaming lounge or watching the latest flick in the large theatre. The party room and Chef’s Kitchen are great for any party planners and of course, the BBQ enthusiasts have not been forgotten – the sun terrace, outdoor lounge, and BBQ area are all yours!

              As always, our buyers will have a choice between many functional and well-designed unit layouts. You will have picks of 1 bedroom, 1 bedroom plus den, 2 bedrooms and 2 bedroom plus den units. All units are equipped with the latest designer  Energy Star Stainless Steel Appliances, front load washer/dryer combo, large floor to ceiling windows, 9ft ceilings, laminate flooring, ceramic tiles, quartz counters, spa-like baths and gourmet style kitchens. Options for electric car charging stations are available for this tower as well.

              Why Avia?

              Location, location, location. Avia, just like Block 9 and PSVI and PSVII is located in the heart of downtown Mississauga. It is within walking distance to Celebration Square, Mississauga Public Library, Square One Mall, Sheridan College, Mississauga Transit and The Go Station. Within close proximity are restaurants, shops, parks, entertainment, movie theatres and highway 403.

              The previous phases have done extremely well and sold out quickly. Amacon is a well know builder with a great reputation and a long track record of building great high rises. Avia will be the next masterpiece in the Parkside Village community with great designs both throughout the building and within your own unit.

              We anticipate some high-end finishes and great colour palettes. If you prefer a darker unit or a lighter unit, there are typically 3 great colour palettes to choose from. You can choose your colours for hardwood flooring, cabinetry, tiles, countertops, and backsplash.  This allows you to customize the unit to your colour preference.

              The prices in Square One are still great for both first time home buyers and investors alike. We know that Avia condos will start in the mid- $300s for their 1-Bedroom units. Maintenance fees will be approx. $0.57/sq ft. These prices are very competitive with the resale condos currently sold in the area.

              If you are looking to get your Avia unit please contact meJoin Us for a Platinum Launch Event this Saturday, March 23rd, 2019 for special incentives and exclusive access! RSVP Today for your Spot!

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              • This entry was posted on Thursday, March 21st, 2019 and is filed under ALL Articles, Articles for Buyers, Pre-Construction Condos. Tags: , ,

              Eric Skicki

              UPDATE: Mississauga’s Hurontario LRT in Danger of Being Canceled

              Written by Eric Skicki Thursday, December 20th, 2018
              •  

                Hurontario LRT vehicle

                 

                 

                One of the perks of living in Mississauga’s City centre, nearby Square One, is the easy access to transit and transportation. With highways, major roadways, local and regional transit options you are connected to the rest of the province in many easy ways. Announced in 2012, a major project that will be a great transportation development in Mississauga is the planned Hurontario LRT. Planned to stretch from Port Credit by the shore of Lake Ontario up to Brampton’s Gateway Terminal and circling Square One itself.  Planned to open in 2022 the Hurontario LRT will be a $1.4 Billion, 22 stop aboveground rapid transit option for residents of the region.

                 

                Residents in the Square One area are going to be temporarily inconvenienced by the infrastructure construction for the next few years but the opportunity for property values to rise with its construction is undeniable. Resale values are definitely affected by transit options, neighbourhood amenities and walkability. Though current residents are concerned by the likely (though hopefully temporary) increase in traffic congestion during construction.  The Bramptonist points out that “about 70,000 of morning commuters travels to Mississauga from Brampton, even more than the 55,000 that travel to Toronto.” Many of which are coming into the Square One area to the many offices and services in the neighbourhood. Offering these commuters a car-free rapid transit option for commuting will make Square One Condo residents’ driving experience better.

                 

                 

                Hurontario LRT Streetview

                 

                New Government Changes

                In November, new premier Doug Ford put the future of the Hurontario LRT in question when it was mentioned in connection to his plans to ‘eliminate the inefficiencies of the previous Liberal government’. In November he singled out the $1 Billion Hamilton LRT plans as a guarantee for funding. Meanwhile, the provincial PC government has avoided the press and NDP’s questioning about Mississauga’s LRT Future. The provincial government’s refusal to make the same guarantee for the Hurontario LRT is concerning many residents and local officials.

                 

                Meanwhile, the municipal governments in Mississauga and Brampton are moving ahead with the plans and infrastructure changes. The new municipal city council in Brampton is proving more open to the LRT plans than their predecessors. The old council cancelled the original plan to have the Hurontario LRT run up through the downtown of old Brampton and this new council is reconsidering the plan to end the LRT at the Gateway terminal. Bringing back to the conversation LRT service in their downtown. Bonnie Crombie, Mississauga’s mayor, has met with Premier Ford in person to plead for the Hurontario LRT. It has been reported she stood her ground and expressed Mississauga’s commitment to their side of the funding. Mayor Crombie has always been a cheerleader for this project.

                 

                Follow us on our Facebook and Instagram and we will keep you informed as we get more news to help you make smart choices with regards to your Square One Condo. You can also keep up to date with Metrolinx’s plans on their site.

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                • This entry was posted on Thursday, December 20th, 2018 and is filed under ALL Articles, Investment. Tags: , , , ,

                Eric Skicki

                3 New Condo Projects Launching in Fall 2018

                Written by Eric Skicki Sunday, August 26th, 2018
                •  

                  Unless you have been sleeping under a rock, you will know that the pre-construction condo market has been on fire for the past 18 months in Mississauga. Every project which launches sells out in record time.

                  We had clients who purchased in condo developments such an M City Phase 1 and 2, Edge Tower, Perla and Block nine, and they are up sometimes over 100% on their initial deposit in PROFIT.

                  I, myself also personally own a few condos around the Square One area and have done very well. For experience, I find that condominiums are easy to rent out (typically under 1 week) and they are seen as “hassle-free” investments, which require very little owner intervention. Remember, I stick to brand new condos which not only have a warranty but are also very appealing to renters.

                  The first half of 2018 has been pretty quiet in Mississauga in terms of new developments. We had a good amount of people waiting for guidance on where to invest next.

                  Today we give our readers an insider look on what is to come for fall 2018. We will have platinum access to three great projects, which are guaranteed to sell out.

                  Have a look below and don’t forget to register to the projects you are interested in!.

                   
                  ————————————
                   

                  .

                  M City 3
                  .
                  M City by Rogers Developments (Yes; the same Rogers as your cell phone provider) had a very successful first and second phase sell out near downtown Mississauga back in 2017. With more buyers then units available (and they had over 700 units per tower) the long-anticipated phase 3, or better known as “M3” Is set to launch soon.

                  Here is what we know so far:
                  .
                  Tower name: Mcity M3

                  Location: Burnhamthorpe and Confederation

                  Height: 80 storey (This will make it the tallest building in Mississauga)

                  Starting prices: $400’s Estimated

                  Completion date: 2023 Estimated

                  Launch: Mid October  (subject to change)

                  Recommended for: Investors and End-users

                  Register Here

                   
                   
                  ————————————
                   
                   

                  Pearl Phase 2
                  .
                  If you prefer living a little away from the downtown core, I would suggest to check out this smaller project by Pinnacle International.  Perla Phase 2 is the sixth tower in a multi-development community by Pinnacle. The builder has a good reputation with staying on time and we can expect this project to be priced very reasonably. Parking and a locker will be included in the price here.
                  .

                  Here is what we know so far:

                  .

                  Tower name: Perla Phase 2

                  Location: Hurontario and Eglinton

                  Height: 15 storey  

                  Starting prices: $400’s Estimated

                  Completion date: 2021 Estimated

                  Launch: Mid September (subject to change)

                  Recommended for: Investors and End-users

                  Register Here:

                  .

                   
                   
                  ————————————
                   

                  .

                  Tanu
                  .
                  We will also have a very rare opportunity to present a new condominium project in Port Credit.  For those that don’t know, Port Credit is a highly desirable area by the lake in Mississauga. It’s close to many restaurants, parks and attractions. There will be a good selection of unit sizes ranging from 620 sq ft all the way up to 2100 sq ft. We can expect the finishes to be ultra high-end on this one!
                  .

                  Here is what we know so far:
                  .

                  Tower name: Tanu

                  Location: 25 Park East Street, Mississauga

                  Height: 15 storey  

                  Starting prices: $400’s Estimated

                  Completion date: 2022 Estimated

                  Launch: End of September (subject to change)

                  Recommended for: End users

                  Register Here:

                   

                   

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                  • This entry was posted on Sunday, August 26th, 2018 and is filed under ALL Articles, Investment. Tags: , , , , , , ,

                  Eric Skicki

                  What to do on your Mississauga condo PDI (Pre-delivery inspection)

                  Written by Eric Skicki Monday, May 14th, 2018
                  • You bought a pre-construction condo a few years back and now it’s time to take possession. But before you get your keys, the builder gives you the opportunity to do a pre-delivery inspection of your unit.  These inspections are mandatory and typically take no more than one hour with most properties.

                     

                    I always recommend bringing the following things to the PDI (Pre-Delivery Inspection) –

                    1)      Original APS (agreement of purchase and sale), floor plans and any upgrades

                    2)      Basic tools – Flashlight, tape measure, green tape

                    3)      Notepad

                    4)      Digital Camera or phone camera

                    5)      Electrical tester – If you want to make sure the switches & outlets are working

                    6)      Proper clothing, preferable steel toe boots

                    7)      PDI checklist

                     

                    PDI checklist:

                    Here is what we came up with for a condo specific PDI checklist.


                    Kitchen – Start your PDI in the kitchen & work your way room by room. In the kitchen, there are several things to look out for.

                    1st – Check the hardwood or tiles, depending what’s inside your specific unit. You want to make sure there is no damage to the plank or tile. If there is damage, then put a green tape sticky on the spot & get the inspector to note down the damage that needs to be fixed.


                    2nd – Check the countertops for any damage along with the backsplash. Again if there is any damage like scratches or chirps put a green tape sticky to the spot.


                    3rd – Check cabinets & drawers by opening them. Make sure all the hinges are properly secure, and that cabinets are properly aligned, open and close without difficulty. Check for scratches or any damage.


                    4th – Open each appliance and make sure that they are properly installed and in working condition. Check for any damage – dents, scratches etc.


                    5th – Check the sink and the faucet in the kitchen. Make sure that there is both hot and cold water. Fill the sink with water & make sure it drains properly. When you open the lower cabinet beneath the sink make sure there are no water stains underneath. This will tell you that the sink has been properly connected. Also, make sure that the dishwasher is connected.


                    6th – On the list are electric switches & lights. Make sure everything turns on and off and is in proper working condition. & check the entry door to the unit.


                    Living Room/Dining Room – There are very few things to look out for here compared to the kitchen, bathroom & laundry room in a condo.

                    1st – Check all the light switches to ensure they are working and turning on and off.


                    2nd – Check the floors for any damage/chirps. Keep in mind that your floors should not make any noise when you walk on them. Make sure that the baseboards are properly aligned and that there are no gaps or damage to these.


                    3rd – If you have crown moldings, make sure there are no gaps, that they properly align and that there is no visible damage. Make sure that there are no scratches on the walls or that the paint is chirping.


                    4th – If your condo comes with a fireplace, make sure it is in working condition and turns on and off.


                    5th – Check the windows & balcony door that they open & close and that screens are properly installed. Make sure that they lock & unlock properly and check the balcony railing to ensure that it is properly secured.


                    6th – If you happen to have blinds/shutters in your unit, check that they open and close properly. You want to check that these are correctly installed as well.


                    Master Bedroom/Bedrooms – Like the living room, you will want to check floors, windows, crown moldings & baseboards for damage. Check the trim & bedroom door to make sure there is no damage and that it opens and closes and that it is properly aligned. If you have a balcony door make sure it opens and closes.


                    Bathroom – Your bathroom is just as important as your kitchen and consists of a few components.

                    1st – Are the tiles on the floor as well as in the shower or tub that you want to check for damage/chirps.


                    2nd – Check that the fan & lights are in perfect working condition.


                    3rd – When you look at the vanity there are a few things to look at such as the mirror to ensure that there are no scratches, damage or chirps, that the lights above it work. The sink & faucet should have hot water & drain properly. Watch out for water stains underneath the sink to ensure there are no leakages and that everything is properly connected. Ensure that all the cabinet doors and drawers open and close and that the hinges are correctly secured.


                    4th – Is to check that the toilet is flushing and that it doesn’t leak anywhere.


                    5th – Check the caulking around the sink & the bathtub and or shower. Test the shower head & drain. Assure that all faucets are working and that there is hot water and that the water drains. If you have a shower door; assure that it opens and closes and that it is properly installed.


                    6th – Open and close & lock the bathroom door and look out for any damage and that the door is properly aligned.


                    Laundry Room – This is an important component of your inspection. Take your time to assure that it is done accurately and that you don’t miss anything.


                    1st – Make sure that the vent is going up and out of the unit.


                    2nd – take a look that the water is connected.


                    3rd – I recommend turning on the washer & dryer to assure it functions.


                    4th – Check the dryer & washer for any dents & scratches and open and close the door.


                    Exterior and common elements – This is something that you do not have to worry about as this is the builder’s responsibility.


                    Air condition/heating and Mechanical –  Would just recommend turning on the unit. Most condos have AC on in the summer and heat on in the winter so you will not be able to test either the AC or the heat depending on the season.  


                    Closets – I would advise sliding the doors open & close to assuring they are working. If there is glass check for scratches and chirps or cracks and take a look at the closet rack installation.


                    Pro tip – If floors are dusty make sure to note that on your PDI list as there might be floor scratches which are not visible until the floor is clean.

                    Clicks here to know about 11 Tips Buying New Condo Mississauga.

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                    • This entry was posted on Monday, May 14th, 2018 and is filed under ALL Articles, Condo Features, Pre-Construction Condos. Tags: , , , ,

                    Eric Skicki

                    New Tax Coming on AirBnB Condos in Mississauga

                    Written by Eric Skicki Thursday, April 12th, 2018
                    • tax

                      Over 3 years ago, we covered in a blog, what was then the current state of short-term rentals in Mississauga. The article did spark some interesting debate on whether short-term rentals should or should not be allowed. We even had some major news outlets reach out to us to get more information.

                      Since then, the condo short-term rental market has grown significantly. To put into perspective, the leader in this space, website Airbnb, has currently 122 listings for short-term apartment rentals in the Square One area, which is a lot considering that a lot of buildings have a no short-term rental policy and have started to shut them down.  At the same time, there are only 87 listings on REALTOR.ca which are available for lease for a one year term.

                      Why is this a growing concern for many?

                       

                      There are 3 main reasons.

                      Given that there are more and more apartments rented on a short-term, it is really starting to affect the supply of apartments for those who wish to stay on a long-term basis. This, in turn, drives prices up to a point where many can no longer afford to pay rent. Right now the average 2 bedroom unit in Square One is around $2000/month.

                      Secondly, people who would typically stay in hotels are now treating these condos as viable alternatives. This is hurting the hotel industry, which has to pay hefty taxes to rent out their space.

                      Lastly, the residents who live in these buildings argue that they do not want their buildings being treated as hotels by those who rent out units on a weekend basis. It not only creates an unpleasant environment but also puts a strain on all the amenities, elevators etc. Owners of units claim that the value of their own units suffer through short-term rentals through both wear and tear on amenities, elevators, hallways as well as the image that it gives off.

                       

                      The Proposed Solution – A New Tax.

                      Starting July 1st, 2018 the City of Mississauga will impose a mandatory 4% tax on all short-term rentals.

                      The money raised from this (which is estimated at almost $10 million a year) will be reinvested in building incentives, to strengthen tourism and to showcase many celebrated attractions – Mayor Crombie announced.

                      Under this new law, anyone renting for a period that is less than 28 days, will be charged the new tax. It is also important to note that this will affect homeowners who rent out their primary residence including secondary suites and basement apartments.

                      The fine details of this proposal are yet to be finalized and will be released soon.

                      Toronto and Vancouver have already put similar tax measures into place and Mississauga is one of the ever fast growing cities will only naturally follow suit.

                      We encourage all short-term condo hosts to speak to their accountants to understand the tax implications this may have on them.

                      Some condo investors are not happy with the new announcements, citing that this will affect their net profits.  How do you feel about this tax? Share your opinion below.

                       

                       

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                      • This entry was posted on Thursday, April 12th, 2018 and is filed under ALL Articles, Investment. Tags: , , ,

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