Our First Big Home Investment

Posted on May 2, 2012 by Martin Zaldama

My husband and I have been looking for the right time to purchase our first home, and I think that time has finally come. We have been saving for more than two years, and the market is clearly pointing us towards making a move now.

We are trying to be good stewards of our money however, so I am not just looking for a place that will be comfortable for us, but also for a place that can serve as a great investment property for us in the future.

Since so far we’ve only been renting in Mississauga, we are used to moving around from place to place almost every year. Because we like to move around every so often, I am completely convinced that we will eventually want to move at one time or another in the future from our first home.

For that reason, I think that a Mississauga condo can serve as a great real estate investment for us in the future, as well as a comfortable and lively place to settle for as long as we may stay. Because we have been renting in Mississauga for so long, its becoming more and more clear to us that the interest in investing in Mississauga condominiums has been sky rocketing recently.

We have even been the occupants renting out the investment properties people have here. This only makes us want to invest in Mississauga for ourselves more, as we can see first hand how great and easy it can be. Plus, with all the potential home investments in Mississauga have, with the right amount of money saved up, and with the help of a professional in the field, we would be crazy not to invest in a condominium in Mississauga.

I can also say that there is no place I would rather choose for my first home investment than Mississauga because we’ve been here so long, and we love it way too much to move! Everything that the city of Mississauga has to offer is just perfect for our needs.

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Investing in Mississauga condos

Posted on March 24, 2012 by Martin Zaldama

First time buyers are investing in Mississauga condos

With real estate prices increasing past the budget of a growing number of savvy home buyers, more buyers are now either opting to rent or are postponing their first home purchase. Being a perpetual renter works best for those who work in contract positions in careers that take them all over the place. Renting in that situation makes more sense because you don’t have the additional burden of selling a home each time the job location changes.

With more and more companies moving to Mississauga and the adjoining areas around it, many families and individuals living in places like Pickering or Niagara-on-the-lake are opting to rent closer to their place of work but often find it unaffordable to buy here since their homes in smaller towns are a lot cheaper. This is a growing segment of renters who are initially checking out Mississauga its surroundings to re-locate.

Depending on their long-term career prospects many of them are buying into affordable condos in and around the Square One area which can serve a dual purpose of providing living space while they live in Mississauga and also giving them the option of renting it out and letting the condo pay for itself if ever they find employment in another part of the province or need to buy a bigger home instead.  Renting endlessly does not serve its purpose over a long period of time.

Investing in Mississauga condos is also natural choice for Mississauga home owners who want convenience and are looking for best return on their investments. Keeping their investments close to where they live provides not only ease of operation but also quick handling of landlord tenant issues.

 

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Rent or buy in Mississauga?

Posted on January 14, 2012 by Martin Zaldama

rent-or-buy-mississaugaMany young professionals who rent in Downtown Toronto often debate about renting vs. buying. Most feel that they don’t like what they can get in Toronto in terms of value, and feel that they will get better value in Mississauga (bigger sized units etc.)

Most Canadian home owners who live in Mississauga have become wealthier with time, over renters. Renters are also at a disadvantage because they cannot avail of tax advantages of owning a principal residence. On sale of your principal residence, you do not pay any capital gains tax in Canada.

In Toronto (especially Downtown Toronto, North York, Uptown Toronto and Etobicoke), prices are not only unaffordable, but they are very high in comparison to Mississauga and the rest of GTA. It has become very difficult for first time buyers to get into Downtown Toronto housing market. Renting may be a good option for someone who is living in Downtown Toronto. A smart renter in Toronto might even think of investing in Mississauga. If you are a Toronto renter you know very well that you are helping pay off your landlord’s mortgage payment. By the same token, why can’t you become a Mississauga investor, and have someone else to pay off your mortgage?

Homeownership provides a unique opportunity for people to accumulate wealth. With interest rates so low, your monthly payments help build equity faster.

A knowledgeable local real estate professional in Mississauga can help you understand what you can buy in Mississauga, something that rents faster and is also always in demand.

Buying the right property in the right location at the right time will provide a sense of home ownership, growth, sense of security and a hedge against inflation. Mississauga condominiums are a great place to start.

Condos in Mississauga Square One are always in demand. Majority of condos in Downtown Toronto are investor owned, and this might become the case in Mississauga too. This is because condos are more affordable than freehold properties, easy to maintain, and are always popular with savvy tenants looking for trendy buildings that offer great amenities (indoor pool, gym, party room, concierge, security, recreation room, spa, sauna, etc.).

Mississauga tenant pool is huge and the vacancy rate of Mississauga condos is less than 1%. Mississauga tenants fall into the following categories: new immigrants, local residents, IT professionals working at top corporates based in Mississauga, employees on job relocation, corporate executives etc.

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