Buying a New Mississauga Home vs: Buying a Resale Mississauga Home
Here we'll focus on the advantages and disadvantages of buying new mississauga homes versus buying resale mississauga homes. The Mississauga market is updated daily with new inventory. To assist our clients, and casual house hunters, we update our Mississauga MLS database daily. If you are looking for Mississauga homes for sale, follow the links below for a list of featured detached homes, semi detached homes, and townhouses. Take a moment to browse, and feel free to register as our guest if you would like more information.
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Mississauga Homes for Sale - [$100,000-$200,000]
Mississauga Homes for Sale - [$200,000-$300,000]
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Mississauga Homes for Sale - [$400,000-$500,000]
Mississauga Homes for Sale - [$500,000 +]
Advantages of new Mississauga Homes:
One of the primary advantages of buying new mississauga homes is the ability to decorate your home from the beginning according your own style and tastes. You may customize the entire colour spectrum in your home, including the paint on the walls, cabinet colour schemes, and hardwood/carpet specifications. You may also customize the ceramic tile and cabinetry selection for the kitchen and bathrooms where the majority of your Mississauga homes value lies.
Often times, new Mississauga homes for Sale will have more modern finishes, and are all covered for 7 years under the Tarion New Home Warranty Program for any major structural defects. New Mississauga homes have consistantly appreciated in value year over year, and have become a viable alternative to big city Toronto life for families that are looking for more space, and peace and quiet!
Disadvantages of new Mississauga homes:
Unfortunately, when you purchase new Mississauga real estate, one should be prepared for the on-going construction you will find around you. There is a possibility that the builder has under-budgeted for time to complete the subdivision, consequently pushing back the day you receive the keys. New Mississauga home buyers are at the mercy of the builder, and their development schedule. In some instances, developments may experience up to a one year delay. In this event, the purchaser of the new mississauga home may have to find alternative housing arrangements until they receive their keys, possibly forcing them to rent a home for the interim, or move in with family or friends. Also, new Mississauga homes for sale typically have higher closing costs than resale homes. The purchaser will pay for such additional costs as the Tarion New Home Warranty Program, tree planting, utility hook ups and municipal improvement fees. Aside from addittional costs associated with purchasing new Mississauga homes, it is important to note that when you buy new from a builder site, there is no negotiation!
Usually, when you buy a new Mississauga home, you don't have an opportunity to see the actual layout. All that is provided is a floorplan, and in many cases the end product may be feel far different from the floor plans the purchaser read. In addittion, the builder reserves the right to change the specifications, dimmensions, and size at any point during construction, leaving purchasers or Mississauga homes in the dark at the builders discretion.
Disadvantages of resale Mississauga homes:
A small percentage of homes in the marketplace are not considered to be "move-in ready." For busy purchasers that happen to be working long hours, a move-in condition home is by far the best alternative. Properties that have been repossessed by the bank under "power of sale" or properties that have been rented for many years may require a lot of work or renovations. If the purchaser is not handy or does not have the additional up front capital then the purchaser would be better off Mississauga homes that are in move-in condition, or a pre-construction development. Additionally, as Mississauga homes age, various mantainance needs to be attended to including: updating the interiors (kitchens and bathrooms are expensive jobs), re-roofing, redoing tired worn out floors, window replacement (another expensive job), and replacing mechanical systems such as the furnace. When pruchasing resale Mississauga homes one must also consider the addittional costs of update the home, and hiring a good home inspector before purchasing the home is great practice that may save you thousands of dollars and headaches in the end.
Taking all factors into consideration, Mississauga homes that need updating can in fact present some advantage to the purchaser. Namely, it can be purchased below market value, while at the same time providing an opportunity to have it decorated and updated to suite ones unique tastes.
*Contact Andy*
Andrew Thomas Brunner
Sales Representative
Sutton Group - Summit Realty Inc.
(905) 897-9555
