Buying Resale VS Pre-Construction Condos in MississaugaWritten by Eric Skicki Sunday, April 29th, 2012
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.
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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Sunday, April 29th, 2012 and is filed