Your Guide to Mississauga Real Estate
Toronto and the GTA are having a real estate moment like no other. COVID-19 has caused a surge in demand for physically larger homes, as, unsurprisingly, after a year of remaining largely at home, people want more room to spread out.
While Toronto has some of the most cranes of any city in North America, the housing supply cannot keep up with demand. Yes, it’s true that they’re building many condos downtown and throughout Toronto. Still, the phenomenon of people leaving the city for a larger home in the neighbouring regions continues apace.
The Toronto Regional Real Estate Board (TRREB) released data in March 2021 indicating that the average Mississauga house has crossed the $1 million mark, reaching $1,061,988. Home prices in Toronto and the GTA have risen by 16.5%, averaging out at just about $1.1 million, putting Mississauga just below that rate.
In the same month, 1,411 homes were sold, a 38% increase from February. Mississauga is growing quickly and has nothing but a bright future ahead.
If you’re looking for property management in Mississauga that understands the local market, you’ve come to the right place. Please keep reading to learn more about investing in Mississauga.
Mississauga is one of the biggest cities in Canada and is under an hour’s drive west of Toronto. Home to Canada’s busiest international airport and one of the nation’s lowest crime rates, it’s a great place to raise a family.
There are many opportunities for residents to play sports, relax, engage in cultural activities, and shop. The city may be overshadowed by Toronto, but it’s downtown is a bustling centre of activity where many Fortune 500 companies base their operations.
While Canada is experiencing an uptick in immigration, Mississauga, where half of the residents speak at least two languages, may be especially welcoming.
For those looking for a quieter and more scenic life than can be found in Toronto, there is a vast amount of waterfront and parkland for nature lovers to congregate. Mississauga has grown steadily for years, and its future is exciting, as the constantly rising housing costs over the past 12 months can testify.
High-rise or Town House?
Many people looking to own an investment property don’t need a fully detached home, and the Mississauga market is full of new luxury condo buildings and townhouses. A townhouse is an amazing way for people to rent a home with many amenities you get in a house but at a lower cost.
Some of Mississauga’s older detached homes would make perfect fixer-uppers that can be flipped, but that’s a different type of real estate play than renting. If you’re curious about buying and selling, you can use our services for real estate consulting in Toronto and Mississauga to get a step ahead.
Otherwise, it would help if you looked into the different types of townhomes available in Mississauga at all price points, from stacked, back-to-back, and luxury freehold towns on the water. There are low-rise residential neighbourhoods such as Erin Mills and Clarkson, featuring new townhomes ranging in size from 500-2,100 square feet.
If renting out a condo is more your thing, Square One and Port Credit have released a few Condo towns near high-rise buildings. Whatever type of investment property you’re looking for, Mississauga has diverse options at different price brackets.
Proximity to Toronto
Being near Toronto has a few significant benefits for income property owners, even those who moved away from the city. For one thing, the “exodus” from major city centres isn’t caused by the desire to be far away from Toronto.
With more people than ever working remotely, people want to live on a larger plot of land, which they can find because they don’t need to commute daily anymore. However, the location of the city centre is still a major investment consideration.
For example, homes in Guelph aren’t rising in value as much as they are in Mississauga because, among other reasons, Mississauga is closer to Toronto, and that has substantial real estate implications. If the three rules of real estate are “location, location, location,” that means people need to love where they live, but it doesn’t hurt to also live near where they love.
Credit: Max via Pexels
Please, feel free to talk to us about investment properties in Toronto and Mississauga, as, despite our company name, we have expanded beyond the core of the city.
Walkable and Modern
What will the cities of the future look like? While cutting-edge technology often captures the headlines, the most forward-looking cities are the ones trying to reduce their dependence on the automobile.
The Village in Cooksville Mississauga is one such place, as it’s trying to achieve the goal of being a “15-minute neighbourhood,” that is, a place where basically everything you could ever need is within a 15-minute walk of your home.
Between the proximity of the airport, GO busses that link the region, the UP Express, and modern urban planning, Mississauga is a well-connected city that is quite literally moving forward.
Real Estate Consulting
Not only have our service areas expanded beyond the core of the city, but Property Management Toronto also offers real estate consulting now. Our experienced team can help make buying and selling a home easy in a way that maximizes your investment.
The investment consultants at Property Management Toronto will educate and consult new and experienced investors. Whether this is your first time buying property or you’re a veteran, we can help.
Real estate is one of the soundest investments you can make because people can’t build new land. Mississauga is a growing and changing city with great bones (safe, Green, ideally located) and is set to improve. If you need some investment wisdom before buying a property in Mississauga or the GTA, speak to the experienced professionals at Property Management Toronto.