When it comes to the Greater Toronto Area, Mississauga is one of the best cities to purchase your home. Mississauga is very well-connected through MiWay and Go Transit. Major 400 series highways including 401, 403, 407, 410, and QEW are all only a few minutes by car. As of January 2022, there are around 707 homes for sale in Mississauga. The demand for housing compared to the supply is at an all-time low in the city. So, if you’re interested in purchasing a detached house in Mississauga, now’s the time to start house shopping.
Average cost of housing in Mississauga
Whether you’re single, married, or planning to grow your family, Mississauga has something for everyone. Depending on the neighbourhood, you’ll find a good mix of condos, apartments, townhouses, semi-detached, and detached homes. Considering the range of homes available, the average cost of housing in Mississauga (as of January 2022) is $1,136,850. On average, homes are on the market for only 10 days.
Best neighbourhoods in Mississauga for first-time home buyers
1. Sheridan – a popular choice among young families, you’ll find a semi-detached house just under $1 million here.
2. Erindale – located right next to the University of Toronto Mississauga campus, Erindale has great public transit connectivity.
3. Central Erin Mills – offers some amazing single family homes options with tons of parks and trails for entertainment. Average price of a detached house in Central Erin Mills is $1.8 million.
4. Lorne Park – luxury homes with tree-lined streets and beautiful views of Lake Ontario, detached houses in Lorne Park start at $2 million.
5. Square One City Centre – a favourite among office goers and young students, City Centre has luxurious and modern condo buildings fully equipped with amenities.
How to find the best deal for a detached house in Mississauga?
It is crucial to understand that in a competitive market like Mississauga, you’ll be bidding against other buyers. Make yourself a strong contender by being the first one to put an offer or make an expensive one they can’t reject.
1. Get pre-approved for mortgage
This is important especially if you’re a first-time home buyer in Mississauga. Sellers will have more confidence in accepting your offer because pre-approved mortgage portrays that you’re serious about making the purchase.
2. Keep your closing date flexible
Most sellers sell their old home and buy a new one at the same time. You might not be able to move into the house until they move into their new one. Show that you’re willing to adjust to their schedule.
3. Look at homes below your budget
Like I mentioned earlier, Mississauga is a highly competitive real estate market. It is likely that you’ll have to increase your bid to get a home of your choice. Start looking at homes that are way under your budget and you’ll have some space to bid.
Buying a detached house in Mississauga is a stressful procedure and you need an expert on your side. As an experienced realtor and mortgage broker who has helped over 600 clients over the past 5 years, I am here for you.
Please contact me today for a free phone consultation.