Across Canada, the real estate market is experiencing something of a renaissance. Even though the market slowed in 2020, it has already rebounded with incredible verve. In July, the Canadian Real Estate Association reported the most home sales of any month in recorded history. What’s more, the average price of a home soared to more than $570,000. It’s true of every province, but nowhere is this trend more apparent than in the cities of the Greater Toronto Area.
Table of Contents - Benefits of Real Estate Investing in Mississauga
Take, for example, Mississauga. This once-sleepy town neighbouring the urban giant of Toronto is becoming the center of a home-buying explosion. If you’re on the prowl for great real estate investment opportunities, look no further than Mississauga.
Mississauga has a diverse population
The entire country of Canada is experiencing a surge of immigration. People from around the world are suddenly discovering the joys of living in the Great White North. Few places are more attractive to prospective immigrants that the Greater Toronto Area. Among the cities that make up the GTA, none are as welcoming as Mississauga. Half the population is known to speak two languages.
Immigrants flock to Mississauga because of the city’s longstanding relationship with Fortune 500 companies, specifically those at the forefront of the electronics, aviation, finance and pharmaceutical industries. They also appreciate the city’s closeness to a major airport and the relative ease with which you can travel to Toronto.
Easier point of entry
Let’s face it. The cost of a new home in Canada is much more expensive than it was a year ago. In every corner of the country, the cost of a single-family home is rising at an astronomical rate. That doesn’t mean you can’t realize your dream of becoming a real estate investor, it just means you have to know where to look.
For example, in 2019, the average cost of a detached home in Toronto was north of a million dollars. Condos went for $615,000. Land in Toronto is so expensive that even a shed in the heart of downtown Toronto sold for one million dollars. In Mississauga, homebuyers can secure a spacious home for about $930,000. Though it may not seem like a dramatic increase, the improvement to the quality of life is substantial. The homes are larger, as are the lots. The cost of living in Mississauga is also substantially cheaper than in Toronto, which means a cheaper mortgage is just the beginning of the savings for a real estate investor.
The great exodus
2020 has been an unusual year for real estate investment, but there are overall trends we can expect to last for years to come. One of the most impactful developments is the sudden need for homebuyers to look outside major cities in search of a home. People are growing tired of densely-packed urban centers, and have been moving to the suburbs and country at a steady rate. Some experts predict that this trend will last long past 2020—especially because the cost of an average single-family home in a metropolitan center is not affordable for most Canadian families.
Though its population tips the scales at 828,000, Mississauga is still significantly smaller than neighbouring Toronto, the nation’s most populous city. For those people who crave seclusion beyond the modestly-sized town, real estate investors based in Mississauga can find rural property for sales or development with relative ease compared to those investors mired in the thick of Toronto.
What’s more, analysts predict this trend won’t be a short-term bounce, either. The suspicion is that those people who aren’t rushing to buy homes outside major cities are likely saving up to do so.
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…to the suburbs
There’s a difference between people moving out of the densely packed city and transplanting one’s life out to the boonies. Even as people choose to leave massive, more expensive regions like Toronto in search of more space, they are talking about larger plots of land, no longer commutes to work. It takes a certain kind of person to move their family far away from the comforts of a city—and when their jobs are tethered to a certain location, it may not even be possible.
With that said, as analysts have stated, the need for more personal space is genuine. However, homebuyers aren’t moving to Guelph. They’re moving to places where their money carries with it some extra buying power. Taking a million home-buying dollars from Toronto to Mississauga means guaranteeing a much more spacious lot and a larger home.
Real estate investors who want to explore the options (and payouts) that go hand-in-hand with investing in higher-end residences find that Mississauga is the perfect place to start. Upscale neighbourhoods like Lorne Park, Mineola and Port Credit are filled with expensive eateries, boutique shops, golf courses, marinas. They have some of the best public and private schools in the Greater Toronto Area. In other words, they make the ideal escape for execs building a family.
With all those amenities, it takes a certain level of bank account to live in Mississauga, and the homes are subsequently built to attract buyers with the bank account to match.
The overlooked area
You don’t have to look too deeply into the Canadian housing market to understand that builders are scrambling to keep up with demand. Here’s the thing to keep in mind: the builders rushing to meet housing demand are, more often than not, setting their sights on the major urban areas, not those towns surrounding them. As a result, even though people are quickly moving out of Toronto, builders are still focused on meeting the demand within the city.
As the number of prospective home buyers increases, the odds are that real estate development will not respond fast enough to curb a dramatic rise in demand. In other words, whether you’re hoping to invest in real estate development or existing structures, the future looks bright in Mississauga.
Real Estate Professionals in Mississauga
We have searched high and low for real estate investing professionals in Mississauga. Below, you can find professionals we have researched and can confirm they specialize in working with Real Estate Investors.
To ensure the maximum success in real estate investing in Mississauga, or any city, you should always use professionals who understand and work with investors, your income depends on it.
This list may not fully list all the professionals in the area, but the ones we have personally investigated and that we would refer our clients to.
If you’re a real estate professional and would like us to consider adding you to the list, please contact us.
Top 5 Reasons to Invest in Mississauga Square One area in 2020
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