When you’re looking to buy a Square One condo in Mississauga, you’ll want to be sure to research your decision and weigh your options. Here at Mississauga Condos Planet, we do our best to not only offer the best real estate services, but top quality customer care, advice, and consultation.
Before deciding on the perfect condo to buy or invest in, these are some things you should consider:
Location, Location, Location
As with purchasing any property, the first thing you should be considering is the location. The area and region in which your condo is located has a big impact on the value of the condo, the investment potential in the area, and how much you’ll enjoy owning the property. When you’re making your decision, you want to pick an area which will attract quality infrastructure and people, increasing in value over time and making for a good experience.
Size of the Unit
You’ll want to consider the actual square footage of the unit as well. Some floor plans will use space differently and you’ll want to make sure you get the most usable space in your floor plan. Make sure that it’s laid out in a way that you get the most space possible. Be sure to consider the height of the ceiling as well and how that affects how spacious the condo feels. By getting a higher ceiling you can greatly increase the openness of the condo and make sure that you get the most room for your value.
If you’re purchasing a new condo development, you’ll want to take precautions regarding the completion date. Although you should be able to move in, there can be delays and you may sometimes find that your condo is not completed on time. This can be a real hassle and can throw a big wrench in your plans. In order to make sure this is the least unsettling, make sure you prepare properly and have a backup plan in place.
Local Buyers Compete Against International Buyers
As prices for international buyers increase, there is a diminishing market for local buyers as they must compete against international investors. This only becomes more marked with the current low rate of the Canadian dollar, increasing the buying power international investors can wield. Therefore, you may face tougher markets when trying to purchase locally in Mississauga as internationally buyers bring their business and investments to the area.
Always Consider A Parking Spot
Even if you don’t plan on using it and don’t own a car, getting a parking spot with your condo property may be a good investment. They can cost a hefty sum, but without one, they may be harder to sell as they appeal to less potential buyers. On top of that, they reduce the resale value of your condo as you can’t offer that feature. In some cases, it may be in your best interest to purchase the spot so that you can sell the property at a higher evaluation.
Reputation Carries Weight and Value
When purchasing a condo, the reputation of the building, the owners, and the area will all greatly affect your experience as a buyer or investor. Whether you’re buying it to live or rent out, the better the neighborhood, building, and property owners, the better your experience will be. By researching the reputation of the building owners, the condo development itself, and the area, you’ll make sure that you are making a good decision and a sound investment.
Making the Leap
With these 6 tips for buying a Square One condo, you should be able to make an informed decision about what unit will work best for you. By considering the region, the tenants, and the investment potential, you have made sure that you are fully aware of the situation you are investing in and can be confident in your choice. For any advice or support buying a Square One Condo in Mississauga, Condos Planet is the best place to go! We’re here to help you with all of your purchasing and investing needs.