The recession has made is more necessary than ever before to carefully budget every move you make. Whether you're getting ready to start your own business or you're thinking of buying a home, there's a lot of research you need to do first into the costs involved in such a venture. Toronto's expensive market has put it beyond the reach of many people with jobs in the area, but what about here in Mississauga? How much cheaper is it to buy property there? We'll compare Mississauga to popular Toronto neighborhoods so you can see comparatively what you'll be able to get for your money. Prices are accurate to late 2009.
Mississauga is one of the cheaper places in the Greater Toronto Area in which to buy a single story house. It's also one of the places where you're actually able to find such structures. Erin Mills Homes for Sale in this category appear in the listings for about $355,000 ($395,000 for the Streetsville area). Compare this to a cost of $700,000 for a similar property in Toronto's Lawrence Park, or an asking price of $600,000 for the same home in Thornhill in the North of Toronto. Mississauga clearly has the advantage.
For people who have enough money to afford a mansion, price is less of an issue. However by buying in Mississauga you'll be able to use your leftover budget to buy a boat or a vacation home. Dentists in Mississauga, Ontario find themselves paying only $540,000 to $550,000 for a large house, meanwhile their counterparts living in Forest Hill, Leaside, Moore Park, and Midtown Toronto will have to lay out more than double: $1,900,000 to $2,200,000, for their homes.
You won't find town houses in every Toronto Area neighborhood, simply because many of them are too urban. There's more benefit to building apartment complexes than to building single homes. However, if you ask your Mississauga real estate agent to find you one, he or she will likely come up with a property in the $244,000 to $270,000 range. Compare this with town homes in the Beaches district of Toronto, which cost upwards of $460,000, or in Cabbagetown, where the asking prices are around $575,000.
Condominiums are one of the most popular types of living space in the Greater Toronto Area. They are found in abundance in both Mississauga and Toronto. Condos for sale in Mississauga list for about $218,000 for a standard unit and $300,000 for a luxury unit. In Midtown Toronto you'll be looking at more than a million dollars for a luxury unit. The same on the Waterfront. Meanwhile, standard units sell for $405,000 to $410,000 in these areas of Toronto.