Old condos in Mississauga
There is a growing trend of larger & older Mississauga condos becoming more popular with many new immigrants and first time buyers. Many such condominium buildings are located on Webb Dr (250, 300, 350, 325, 335, 400 and 550 Webb Dr.) in Mississauga Square One area. The reasons for this include affordability, size, proximity to schools and Square One area amenities.
Now a days, many sellers of these older condos in Mississauga are improving or upgrading their properties. Sellers understand that first time buyers look for not only well managed buildings but also for new appliances, fresh coat of paint, new flooring etc. Most first time buyers are not interested in spending their own cash on improvements (they would rather spend this amount on down payment), but instead opt to buy properties that are already improved by the sellers, and are ready to move in. When improving old condos in Mississauga, there are many things that sellers need of be aware of and should be careful about. Sometimes over improving a property will not help.Let’s look at an example, the median price of an updated two bedroom, two washroom, condominium apartment in Monarchy condos at 325 Webb Drive and 335 Webb Drive is $300s.
Old Condos in Mississauga renovation choices
There is a plethora of choices available when it comes to renovation options, one can install a new kitchen from as low as $5,000 to as high as $50,000. Similarly, one can opt for a new laminate flooring from as low as $2 per square feet to $10 per square feet hardwood flooring. Same goes with window coverings, bathrooms, light fixtures etc.
Smart sellers should not compromise on cheap upgrades but shouldn’t also overspend and pour money down the drain. If the median price is $300,000 for a reasonably improved property, sellers should know where to draw the line.