circle_1 circle_2 circle_3 circle_4

Blog

Information for First Time Home Buyers in Mississauga

 

With a wide variety of houses available, and more affordable pricing than Toronto property, Mississauga is a wonderful choice for first time home buyers. Here are some of the many benefits of living in Mississauga:

 

·       You have peace of mind, knowing that you live in a safe, well run, and friendly city.

·       You can enjoy unparalleled shopping at Square One – renowned as the best mall in Ontario – as well as at Erin Mills Town Centre, Heartland, Sherway Gardens, and other retail malls.

·       For music lovers, there are many concerts and festivals, plus regular symphony performances at the splendid Living Arts Centre. Visual arts, dance, and theatre are also part of the arts scene.

·       Commuting to work in downtown Toronto is easy, with highway access to the 401, 403, and the QEW, as well reliable and regular GO Transit available.

·       Close proximity to Lester B. Pearson International Airport makes Mississauga ideal for those who travel frequently for work.

·       Home prices are lower, with detached houses in Toronto averaging $1.2 million, and average prices in Mississauga coming in under $800,000.

·       Yards and houses are larger in Mississauga!

·       Local sports teams are worth cheering for.

·       There’s easy access to wild spaces and conservation areas in the Credit Valley and the charming waterfront neighbourhood of Port Credit. The city also has an abundance of good parks.

·       There are great schools in every area of Mississauga, and many family oriented activities and facilities.

 

Buying in Mississauga

 

Mississauga’s housing market is booming, but prices haven’t reached the heights of Toronto’s highly competitive scene. In addition, Mississauga sales are almost equally divided amongst condos, townhouses, and detached homes, so you know that there is a property available for almost every budget and lifestyle.

 

Before looking at properties, it’s a good idea to obtain a pre-approved mortgage. A lender will look at your family’s whole financial picture, and give you a figure that will serve as your upper limit for a home purchase. (Visit the Canada Mortgage and Housing Corporation’s website and use their interactive tools to estimate what that figure might look like.) Usually, home buyers are required to have a down payment of 5% to 20% of the asking price. However, if you qualify, you may be eligible for a mortgage loan that doesn’t require a down payment. A mortgage broker can help you to ascertain if this might be the case for you.

 

Peel Region is home to many knowledgeable and experienced real estate brokers, so once you have a pre-approved mortgage, it’s time to find the right REALTOR® to partner with. Find a broker who understands your family’s needs, and with whom you have a good rapport. (Check to make sure that your broker is registered with the Real Estate Council of Ontario, which holds real estate professionals to ethical standards.) A good real estate broker is crucial – he or she can locate prospective homes, show them to you, help resolve any financing issues, guide you through the process of making an offer, help you to become informed about contract clauses, and be there with you during closing to ensure everything goes smoothly.

 

First time home owners in Mississauga don’t have to go it alone. Contact a broker today, and start the search for your Mississauga dream home!