Custom build Homes in Mississauga – A Fast Growing Trend
There is a growing trend of people buying older properties and holding on to them by renting them out for a couple of years, or till such time that they are ready to rebuild or renovate these into custom-built homes in Mississauga. Many investors or builders also buy such properties to flip for profit. We recently bought a similar property for our client in Oakville, which is currently being rented out.
Custom-build homes in Mississauga – Looking for a good deal?
Such investment opportunities are always available. You can buy an older property and renovate it or rebuild it. If you decide to build it and live in it then you will save on the new housing HST rebate as an individual.
Assuming it is strictly for investment, and not for living yourself, you can rent it out for a couple of years, so that expenses are taken care of from the rental income. In this case, your sale of the house may be taxable and no new housing rebate would be available to you.
Once you are ready to rebuild or renovate, we can put you in touch with the right professionals to help you build a custom home with grading plans, drawings, permits, topographical surveys and liaison with the City. Upon receiving your permit, many lenders can provide you with construction loan to build your custom home.
Custom-build homes in Southern parts of Mississauga, Oakville and Burlington are gaining popularity now that vacant land for new construction is scarce.
Amit’s team will be able to guide you on how much to invest on interiors, what kind of time frame it will take to sell, what can be your carrying costs and also provide you with an opinion of selling price, before you buy such properties.
If you are thinking of selling a substantially renovated home, we can also help you sell for top dollars, in the least amount of time.
Custom-build homes in Mississauga – Example of an Investment Property
There was a great investment opportunity in East Mineola neighbourhood of Mississauga, listed by our brokerage. The asking price was based on existing bungalow on a 50 feet X 113.75 feet lot. The home came with two bedrooms, one washroom and a loft.
Basically investor buyer could custom-build a dream home right away. This investment opportunity came with all approved grading plans, drawings, City approvals and permits. The topographical survey was also already done. If you are wondering how much newer homes sell for on this street – some time back a home sold for over $1.5m on the same street.
Custom-build Home Listing
**SOLD** This listing is no longer available.
- Asking Price: $649,900 (Price of current property with a bungalow)
- Type: Detached 2-Storey 4 BR Home (Plan Approved for 2900 sq ft home)
- Lot: 50 x 113.75 ft
- Cost of construction: Approx $175 to $275 per sq. ft.