Pros And Cons Of Buying Residential Resale Properties In Mississauga

Home buying can be taxing. Especially when you’re going at it for the first time. With so many listings and options during the spring time, you feel the need for a second opinion all the time. But actually it’s all about what you want and your requirements.

At times you’re faced with two options, either buy a resale home or book a presale home in an upcoming residential complex. Talking about resale properties in Mississauga, there are many pros and cons one has to think about. Condo Shack lists them out for you so you can choose carefully.

Pros

  • As compared to a presale home, per square feet cost of a resale home is much less. Budget is a very important consideration for every home buyer. If the budget is low but you’re in dire need of a new home, resale is the best option for you rather than going for a presale option.
  • You can move in as soon as you purchase. There’s no waiting period and no possession deadline. You get the possession as soon as you make the payment. If you’re ready to move in, go for resale anytime.
  • You get what you see. It’s not like you asked for a bigger floor area and what you get is less than expected. Everything from the rooms to bathroom fitting and faucets is right there in front of you. That gives you a fair idea as to what you’re dealing in. It also provides an opportunity for bargaining.
  • With people living nearby already, you’ll get a fair idea of the neighborhood. Unlike presale where you never know who’ll walk in the neighborhood.

Cons

  • Unless it has been renovated recently, everything in a resale home will be old and pre-used. You’ll need to thorough inspect the home to see how worn out the fixtures and fittings. It can sure give you a chance for a bargain but it it’s too old, it’s not worth it.
  • The listing picture and actual building may vary. The structure may be too old and dilapidated. It’s better to stay away from such homes or just pay for the plot to construct your new custom home.
  • Unless you’re a first time home buyer and the price of the property is less than $500,000, you’ll be paying property transfer tax on the purchase.

If you would like good resale property listings in Mississauga, visit Condo Shack, the property experts in the region. You’ll definitely get your dream home in no time.