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Why Should You Invest in a Square One Condo inMississauga?

March 7, 2012
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By Elena S Vank

Square One Area of Mississauga is a hip and up and coming new community. If you are to compare how this community used to look just a few years ago and now you will see that there has been some major changes. First all the new square one condo developments that seemed to have grown overnight! Lime light, onyx, absolute and elle are just a few new condos being built around square one. We are going to see a lot more supply of condos in the next few years just around the Square One Core this will be a great addition to already established condos such as living arts, webb, prince of wales, duke ofYorkand elm. To add to these square one condo developments there has also been many other great additions, such as theSheridanCollege, Hazel Campus. This sleek and modern campus complements the square one condo community very much. Most students who are going to this college will probably want to own one of the many stylish condos once they start their first jobs. Watch out down townToronto!

If you ever wanted to invest in a Real Estate market you have probably wondered whether buying a condo would be a great investment opportunity. Lets look at condo investments, the first idea that comes in mind is buying a condo and renting it out or selling it in the future. There are some factors that need to considered, buying the cheapest/smallest unit during pre construction is not the greatest bargain as you might think at the time. You have to think about your future target buyer. Who wants a tiny condo where the couch is practically in the kitchen and a queen bed can not fit in the master bedroom? You would probably not want to live in a unit like this therefore the majority of people out there will not think of it as a great place to live either. The more unique and large your condo unit is, the more buyers/renters you are going to attract. Also think about your competition, yes all those people that bought for low price during pre construction of the condo are planning to rent out their units, and are most likely going to do it all at the same time. This will result in many empty units in the condo waiting to be rented out which will drive prices down, there goes that nice profit that you had originally expected. Another advice is to buy as big a condo as you can afford. This is for two main reasons, so as not to be one of 100 one bedroom units for sale in a building. Another reason is many older couples will be leaving their larger homes and they are not going to want to live in a 550-square-foot one-bedroom condo. Condo buyers who rent out their unit and are not making 10 per cent or more might be better off with other forms of real estate investments.

In conclusion if you are buying a condo for resale potential try to purchase a larger condo with a unique layout and a great view this will definitely raise the demand for your property. If you are planning on renting, you will want to pick an area where vacancy rates are low (due to demand) and choose a condo that people will want to rent. The lease profit should be more then 10% in case of maintenance rates increasing and you do not want to be stuck with a negative cash inflow. All in all some research should be done before hand, let your Real Estate Agent help you with it!

Square One Condo.

Article Source: http://EzineArticles.com/?expert=Elena_S_Vank

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