Investment

My Square One Condo Team

Downtown 21 Master Plan – The Future Of Mississauga Condo Living

Written by My Square One Condo Team Tuesday, May 28th, 2013
  • downtown21-mississauga

    Who would have ever thought, that Mississauga would eventually have one of the most active condo real estate markets in the country; with over forty existing condominiums and 15 proposed for the near future? Mississauga has grown substantially in population and, improvements to infrastructure and design are required to sustain this rapid growth.

    The solution offered by the city of Mississauga is called the “Downtown21 Master Plan”. The goal behind the Downtown21 Master Plan is to make downtown Mississauga, also known as the City Centre area, more pedestrian friendly. At the same time, this plan hopes to set out specific strategies for economic development, new transportation systems, and overall environmental improvement.

    In this blog post, I will cover some of the fundamental changes offered by the Downtown21 Master Plan, and its influence on the future of the Mississauga condo market.

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    The Plan In Detail

    Mississauga has always strived to have a well-balanced downtown core. The Downtown21 Master Plan will undergo some changes that are reflected in areas such as the employment, retail, commercial and civic sphere. This, in turn, will be balanced by residential development, entertainment, and facilities used by business visitors and tourists. Some of the changes which are to be implemented include:

     

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    • This entry was posted on Tuesday, May 28th, 2013 and is filed under ALL Articles, Articles for Buyers, First Time Home Buyer, Investment. Tags: , , ,

    My Square One Condo Team

    Condo Assignments Explained

    Written by My Square One Condo Team Saturday, April 20th, 2013
    • Condo Assignments

      What is an Assignment?

      An assignment condo sale refers to buying a condo off of a previous buyer before it is officially registered in the Land Registry System. To illustrate the most common type of example in today’s market, please see the following scenario:

      A buyer purchases a pre-construction condo through the condo sales office. His or her intention is to live in that condo once it’s completed in a few years. However, plans change after about a year or so, and that buyer decides they want to sell their pre-construction condo prior to taking occupancy or ownership of the unit. This can be accomplished using an assignment sale, where the original buyer finds a new buyer for their condo. This new buyer assumes the responsibilities and enjoys all the benefits which were offered to the original buyer.

       

       

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      • This entry was posted on Saturday, April 20th, 2013 and is filed under ALL Articles, Investment, Pre-Construction Condos. Tags: , , , , ,

      My Square One Condo Team

      Tax Basics For Mississauga Condos

      Written by My Square One Condo Team Friday, April 5th, 2013
      • Mississauga Condo Taxes

        As many of you already know, in Canada, taxes are due each year on the last day of April. Now I know that for many, taxes are one of the least favourite things to talk about, yet lots of people seem to be misinformed about tax basics and the implications they have on real estate. By no means am I a tax expert, but in this blog post, I want to clear up some of the basic tax questions I get asked.

        Capital Gains Tax–  Capital gains occur when you sell a property at a higher price than you paid for it. The difference is known as your “capital gain”. Any property (with exception to your primary residence) is subject to a capital gains tax.

        Calculating Capital Gains Tax – The formula for calculating capital gains tax on real estate is: Capital gain x 50.00% x marginal tax rate = capital gain tax.  This can be best illustrated through the following example.

         

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        • This entry was posted on Friday, April 5th, 2013 and is filed under ALL Articles, Articles for Buyers, Investment. Tags: , , ,

        My Square One Condo Team

        Losing $23,000 On A Pre-Construction Condo

        Written by My Square One Condo Team Sunday, August 26th, 2012
        • pre-construction condo money lost

           

          Over the past eight years or so, many pre-construction condos in Mississauga served as great investment tools for investors. As previously mentioned on this blog, I personally know clients who made $30k, $40k or even $50,000 on a single condo investment venture. Many of these clients have bought and sold several condos and each time they have managed to come out with substantial profits.

          However, this is not to say that all condo projects are great investments. To illustrate this, I decided to use a real-life case study to show how one person managed to come out financially negative when trying to sell their condo investment. For privacy reasons, the person’s name and the builder’s name are not disclosed in this post. I hope this case study will help some first-time home buyers and first-time condo investors overcome some of the biggest mistakes made by amateurs.

           

          The Case Study

          Last week I met with a client who was interested in selling her pre-construction condo which she took possession of less than a year ago. Her initial plan was to buy a pre-construction condo, live in it for a year, sell it and then move out east to a smaller town in Ontario. Her search for a condo started in late 2010 when she began looking for a condo by herself, without the assistance of a Realtor. The clients’ requirements were as follows:

           

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          • This entry was posted on Sunday, August 26th, 2012 and is filed under ALL Articles, Investment. Tags: , , , , ,

          My Square One Condo Team

          An Investor’s Guide To Flipping A Condo In Mississauga

          Written by My Square One Condo Team Monday, July 23rd, 2012
          • mississauga condos fixer uper

             

            The terms “flipping a property” or “flipping a condo” refer to buying real estate at a lower price, with no intention of actually living in the place. The main objective of flipping is to generate profit.

            There are two ways one can flip a condo in Mississauga. The more popular way is to buy a pre-construction condo that will generate profit in the future. But rehab properties, fixing them up and then reselling them is another way this can be achieved. In this blog post, I want to cover these two methods and provide an insight to anyone who might be interested in condo flipping.

            Flipping A Pre-construction Condo

            As mentioned above, most investors (I would estimate over 90%) who want to get into real estate turn to pre-construction condominiums. Over the years pre-construction condos have come to be known as “easy investments”, which generate great profit. For further information on pre-construction condos read this article.

             

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            • This entry was posted on Monday, July 23rd, 2012 and is filed under ALL Articles, Investment. Tags: , , , ,

            My Square One Condo Team

            Toronto Condos vs. Mississauga Condos

            Written by My Square One Condo Team Tuesday, May 29th, 2012
            My Square One Condo Team

            Is Mississauga Expanding Too Fast For Its Own Good?

            Written by My Square One Condo Team Sunday, May 6th, 2012
            • Mississauga future real estate

               

              Mississauga is recognized as Canada’s 6th biggest and fastest growing major city. A key contributor to this exponential growth, are the downtown core condominiums. However, with so many condos being constructed around Square One, valid questions are being raised. Can the infrastructure in downtown Mississauga support this new population? Is there going to be an oversupply of condos? How will the real estate market respond to such changes?

              All these questions spark interesting debates and everyone seems to have an opinion. If you were to ask five different realtors what they think about the future of Mississauga’s condo market, I guarantee everyone would have a different response.

              I think the future of downtown Mississauga depends on 5 key factors:

               

              1. Public Transportation – A lot of residents who live in downtown Mississauga need to commute to work by public transit. Mississauga has already taken measures to improve its own transit system by introducing the MiWay, as well as adapting a new system, known as the LRT system, which envisions connecting Toronto, Mississauga and Brampton. The success and integration of these two transportation systems will be a key contributor to how the downtown real estate market will respond.

               

               

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              • This entry was posted on Sunday, May 6th, 2012 and is filed under ALL Articles, Investment. Tags: , , , , , , , ,

              My Square One Condo Team

              Buying Resale VS Pre-Construction Condos in Mississauga

              Written by My Square One Condo Team 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 buys. 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.

                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.

                 

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                • This entry was posted on Sunday, April 29th, 2012 and is filed under ALL Articles, Articles for Buyers, Investment. Tags: , , , ,

                My Square One Condo Team

                Pinnacle Uptown Condos – VIP Sale

                Written by My Square One Condo Team Thursday, March 29th, 2012
                • crystal condos Mississauga

                  UPDATE April 9th, 2012 – There are some limited VIP units left for sale. Please contact me before prices go up.

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                  The much anticipated Pinnacle Uptown Condo is launching its VIP Agent Sale Wednesday, April 4th at noon sharp! This sale is closed to the public unless you are on the VIP agent list. To join this list for free please contact me.

                  The first phase of this condo project will be called Crystal condos and will include two buildings; one 24 and the other 28 stories tall. The Pinnacle Uptown condos are great for anyone looking for an upscale downtown Mississauga condo lifestyle, yet at the same time being close to two major freeways which lead in and out of the city. Hurontario and Eglinton is a well-established area in the heart of Mississauga, thus those looking to buy the Crystal condo as an investment are sure to get a good return on their money.

                   

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                  • This entry was posted on Thursday, March 29th, 2012 and is filed under ALL Articles, Investment, Pre-Construction Condos. Tags: ,

                  My Square One Condo Team

                  Investing in Mississauga Condos – 2012

                  Written by My Square One Condo Team 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.

                     

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