x

View in Desktop Mode

View in Mobile Mode

Articles for Buyers

Eric Skicki

Why 3 bedroom condos do not exist?

Written by Eric Skicki Wednesday, June 15th, 2016
  • absolute

    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.


    Read more…

    Be Sociable, Share!
    • This entry was posted on Wednesday, June 15th, 2016 and is filed under ALL Articles, Articles for Buyers.

    Eric Skicki

    What Makes Good Condos, Simply Amazing!

    Written by Eric Skicki Wednesday, May 21st, 2014
    • For any buyer looking to purchase in downtown Mississauga, the process of buying a condo can seem overwhelming. With so many buildings to choose from, buyers are often left with uncertainty, not knowing if they have purchased a unit that they will be completely be happy with. This is why I always stress to my buyers, that the most important aspect of selecting the right condo is – lifestyle. The lifestyle each condo has to offer is different, and I believe each buyer should be educated as much as possible about each condo (both negative and positive) before they commit to the purchase. In this blog post, I will cover some of the things which I noticed make certain condo buildings stand out from other condos.

      Condos for Sale in MississaugaFree Parking Access at Chicago:

      385 Prince of Wales is one of the only buildings that has a lot of visitor parking space, since it is outdoors. It is also in front of Rabba and Dry Cleaners. It seems that many condos in Square One have two issues when it comes to parking. 1.) Time restrictions and limitations – how many parking passes a month are issued for your guests. Example only 8 passes a month. 2.) Availability – the condos that don’t have these restrictions have issues with availability. On the weekends; Friday and Saturday nights parking is very scarce.


      Read more…

      Be Sociable, Share!
      • This entry was posted on Wednesday, May 21st, 2014 and is filed under ALL Articles, Articles for Buyers.

      Eric Skicki

      The Evolution Of Real Estate Offers

      Written by Eric Skicki Saturday, October 5th, 2013
      • real-estate-offers

        Real estate has come a long way over the last decade or so.We have seen a peculiar change in the dynamics of how properties are marketed by the seller and searched for by the buyer. Years ago, it was unheard of that someone could be sitting halfway across the world on their computer, searching for properties and then buying them. Today, this has become mainstream. Buyers do not need to be in the country in order to purchase a property. In this blog post, I will share some of my thoughts on how the presentation of offers has changed over the past few years.

        Traditional Offer Presentations

        Traditionally speaking, the real estate purchasing process looked something like this:

        A client would contact a REALTOR to help him find a new home. The agent would show him a series of houses until the perfect one was found. The REALTOR and client would then meet at the agent’s office and write up an offer. Once the offer was completed and signed, the buyer’s agent would contact the seller’s agent to arrange a time when the offer could be presented in person. The face to face meeting would usually take place late at night and it was common for all the parties (both agents, buyers and sellers) to be up past midnight to get the deal done. Sometimes, there were six copies of the offer that needed to be signed and initialed by all parties. Since photocopying was not an option, any major changes that were made in the offer would result in completely rewriting the offer, which would take hours. The offer process was tedious and extremely time consuming for everyone involved.


        Read more…

        Be Sociable, Share!
        • This entry was posted on Saturday, October 5th, 2013 and is filed under ALL Articles, Articles for Buyers.

        Eric Skicki

        Deciding When to Buy a Condo

        Written by Eric Skicki Sunday, September 8th, 2013
        • when-to-buyShould I buy in the fall, or wait until the spring when there are more properties? These questions are often asked by buyers searching for Mississauga condos.  Although, different Realtors will give different answers, I believe the decision of when to buy really comes down to the individual.

          Condo Buyers

          First and foremost, you have to establish your needs, wants and desires when it comes to your dream condo. At the same time you have to be aware of your budget and the carrying costs associated with owning a condo. Buyers should understand that during the spring and summer seasons there will be more selection of properties available for sale, than during the slow winter months. However, at the same time, this also signifies that there is a higher probability that you will be competing against other potential buyers for a condo of your choice. Do not be alarmed if at times the amount needed to secure your property will be over the asking price. You also need to know that the market is really unpredictable. There is no absolute way to know for certain how many available units there will be, how interest rates will be and how stable the market will be in the future. As a general guide, I encourage buyers to follow these eight points:


          Read more…

          Be Sociable, Share!
          • This entry was posted on Sunday, September 8th, 2013 and is filed under ALL Articles, Articles for Buyers, First Time Home Buyer.

          Eric Skicki

          Women Investing In Condos

          Written by Eric Skicki Tuesday, September 25th, 2012
          • young woman investing into condos

            Lately, more women are buying real estate.  Television shows like “Buy Herself” and “Property Virgins” are displaying more and more women independently buying properties . This new emerging trend can be explained through numerous ways; young women wanting to move out and being independent, a high divorce rate, women having better job positions and equally paid positions and also young women who wish to focus on their careers instead of settling down to soon with a family.

            At the moment the housing market is healthy within the GTA, especially Mississauga, allowing more people to buy and invest in real estate, including women. RBC Royal Bank predicts that within the next 2 years, women are more likely to become first time home buyers as compared to men. The results of their annual survey on homeownership showed 49%  (women) vs. 35% (men).  A recent study done by Genworth Financial demonstrates that a quarter of Canadian home purchasers in 2011/2012 were single, and the majority were women. In Mississauga, the single women buyer boom has expanded. Single women buyers represent approximately 15-20% of Mississauga’s condo market, up from barely 1% in the 1990s.


            Read more…

            Be Sociable, Share!
            • This entry was posted on Tuesday, September 25th, 2012 and is filed under ALL Articles, Articles for Buyers.

            Eric Skicki

            FSBOs, Private Listings and Mississauga Condos

            Written by Eric Skicki Monday, June 11th, 2012
            • featuredinPrivate sale mississauga condo

              Are you planning on selling your Mississauga condo yourself within the next 3 months? Do you have a condo listed privately and you are not getting the results you anticipated? Are you a potential condo buyer looking into private condos, because you are hoping to save some money? If so, this article is for you!

              Selling Your Condo Privately

              I have a lot of respect and admiration for those that are taking on the complex task of selling their home by themselves. These sellers, often referred to as FSBO’s (For sale by owner), choose not to work with a listing agent for perhaps several reasons, but mainly because they want to escape paying high commission fees. Traditionally speaking, most sellers who work with a Realtor in Mississauga can expect to pay anywhere from 1% to 3% to the listing agent and 2.5% to the buyer’s agent (known as the co-operating brokerage). This percentage is common practice rather than a fixed number.


              Read more…

              Be Sociable, Share!
              • This entry was posted on Monday, June 11th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers.

              Eric Skicki

              3 Tips For Mississauga Condo First Time Home Buyers

              Written by Eric Skicki Thursday, May 24th, 2012
              • Buyer Tips For Mississauga Condos

                Shopping around for a condo can be an exciting time, especially for first time home buyers. Mixed emotions are present and sometimes significant decisions are made on the spot. During this time, there are numerous things to keep in mind, yet it is easy to get sidetracked and forget what is most important.

                In this blog post, I want to cover the three biggest mistakes I see first time home buyers make, when purchasing a Square One condo. I will outline each mistake, identify the common false belief which is then followed by the true fact.

                1. Shopping For A Condo Using Only MLS – MLS (Multiple Listing Service) also known as www.realtor.ca is a great starting point for anyone interested in a Mississauga condo. In fact, over 92% of all properties that sell are listed on MLS. However, before any condo is placed on the MLS system and is accessible to the public, it is first placed on www.torontomls.net– a database only accessible to Realtors. Through this internal system, a good portion of real estate properties are sold before the public has a chance to place any offers on them.


                Read more…

                Be Sociable, Share!
                • This entry was posted on Thursday, May 24th, 2012 and is filed under ALL Articles, Articles for Buyers, First Time Home Buyer.

                Eric Skicki

                Buying Resale VS Pre-Construction Condos in Mississauga

                Written by Eric Skicki Sunday, April 29th, 2012
                • pre-construction condos vs resale condos

                  Over the past few weeks, I had several clients inquire about investing in Square One condos. One question that seems to arise is whether pre-construction condos or resale condos are the better buy. Clients, regardless if buying for principle residence or investment purposes, want to make sure that their real estate purchases appreciate accordingly with the market, and that when they wish to cash out on their condos they have the option to do so.

                  In this blog article, I hope to give some insight into buying both new and resale condos in Mississauga. I want to cover new and resale condos from both a primary residence and investment perspective.

                  Pre-construction Condos

                  Prices of pre-construction condos in downtown Mississauga are currently between $420-470 a square foot. To put into perspective, a one bedroom plus den condo that is 650 square foot goes for roughly $270k-$310k. These prices may seem high to some people, but keep in mind that places like Toronto are currently selling between $600-800 a square foot for pre-construction condos. Although, Toronto and Mississauga differ in many ways, this does suggest that the prices of Mississauga condos still have room to grow.


                  Read more…

                  Be Sociable, Share!
                  • This entry was posted on Sunday, April 29th, 2012 and is filed under ALL Articles, Articles for Buyers, Investment.

                  Eric Skicki

                  9 Real Estate Mistakes for Mississauga Condos

                  Written by Eric Skicki Sunday, April 15th, 2012

                  • Here are some common mistakes both buyers and sellers make, when purchasing and selling condos around Square One.

                    1. Buying a Condo Based On Its Interior/Décor – When you are purchasing a Mississauga condo, you are not buying what is inside the unit but the unit itself. You need to look past the furniture, wall colours and décor and focus on square footage, as well as measuring the unit to make sure that your possessions fit how you envision your unit to look like at the end.

                    2. Waiting Until Spring To Sell Your Condo – Sure, spring is a very busy season in real estate, however, your condo will sell for its value the rest of the 365 days. It is simply a myth that it will sell quicker in the spring time. People purchase all year round. Just ask yourself – Do people move to Mississauga in the winter? Of course.


                    Read more…

                    Be Sociable, Share!
                    • This entry was posted on Sunday, April 15th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, First Time Home Buyer.

                    Eric Skicki

                    Investing in Mississauga Condos – 2012

                    Written by Eric Skicki Tuesday, March 27th, 2012
                    • investing-in-condos-mississauga

                      With new condo sale records broken once again this year, Mississauga is once again in the spotlight of many who seek a good return on their real estate investment. According to a report by the Toronto Real Estate Board, Mississauga condos experienced a healthy 7.21% price increase from February 2011 to February 2012.

                      This is more than double of the 3.31% price increase found in Toronto, between February 2011 and February 2012. Not surprisingly, condos in the Mississauga area are considered more affordable with the average price at $241,900 as compared to Toronto; where prices on average hovered around the $320,000 mark.

                      In this blog post I hope to share some of my personal client experiences, and how investors; both local and distant are choosing Mississauga condos as their number one real estate investments in 2012.


                      Read more…

                      Be Sociable, Share!
                      • This entry was posted on Tuesday, March 27th, 2012 and is filed under ALL Articles, Articles for Buyers, Investment, Market Statistics.