So you might identify this area when we used to live in an apartment in Mississauga, we made so many videos of this place. Again, we have come to that area today we lived two years in an apartment here.
We have made so many Articles on this beach we are feeling a bit nostalgic. When we were searching for houses, we had a great desire to purchasing a house or a condo in this area. A condo is like an apartment.
But the cost of this area was so high, it was beyond our budget. So recently we received some emails and advertisements, from there we get to know that a new project is being launched here, which is economically very good.
It is starting from $500,000, it is a one-bedroom apartment which is very good from investing perspective. Port Credit is considered a very posh area, the average house price is $1M here if it is $500,000 at this moment, let’s say after 2-3 years it can appreciate up to $6-700,000.
So it was our dream to settle in this area in future; So we just thought of checking it out and inform you, and get some idea on how condos are sold here and what are their features? And we will also enquire if there is something available for us and if that condo fits our budget.
So still fingers crossed because the market here is very hot. The demand is very high if we get one-bedroom, we can consider that but the market is so hot that, whatever they’re launching everything is getting sold out.
So let’s try if we can get one today, and even if we didn’t get one, then also we will explain the whole process of buying a condo and things you need to take care of. At least it will be a learning lesson for both of us.
So let’s go to the place where the project is being launched because we used to live near that place in an apartment. So we will show you that area, this area is awesome too. and we will get you some tour of Port Credit and we will show you the home models, condos going into the builder’s office.
Let me show you, why this area is so popular and why we love this area so much? Not only us, but everybody loves this area and this is the reason why real estate prices here is very high. Even though you are in Mississauga, you wouldn’t realise that you are in Mississauga.
I don’t know what was the reason but people in this town once demanded to get separated from Mississauga. They demanded to make port Credit a separate town. It is really amazing especially in summers, you would definitely find this better than downtown Toronto, yes we personally feel that it is beautiful than downtown Toronto.
If you can see on my left-hand side, there are many Patios, restaurants it is a bit crowded at this time also. The view is really beautiful, just look at it. Everything is under lockdown. Even so, this place is still crowded because summer is such a time that people don’t want to miss it, so all the restaurants are full.
We wanted to enjoy the patio, and have lunch and dinner, but bookings are not entertained, you can see people on the right-hand side bookings aren’t entertained here because it is very much overcrowded and this is our favorite,
Port Credit’s Light House if you come here at night, even in winter, you might have seen in our Articles, how amazing the views are from here, even the view of the lake and people do kayaking here. So everybody has something to do here, which is really good.
We also wanted to learn kayaking, but it could not happen maybe in future if we get a house here so we will surely learn. You can see houses on the right-hand side these are old bungalows, but they are worth $2M at least.
If the same house were in Brampton on Mississauga I don’t think their cost might have exceeded $800,000 but here real estate prices are so huge, this house you are seeing is $2M. I think it is more about the area, its proximity to the waterfront.
Now, see this house. All these are $2M houses. As they are just near the waterfront so no one would want to leave these properties unless they want to earn a lot of money. Mainly it is a tourist spot especially in summers because there happens a lot of summer activities and summer events but this year, I don’t think it will happen because of covid-19.
This is the area where this condo will be built, you can see they have put on the boards there used to be 3-4 houseshare, they have been demolished obviously they must have sold their houses at least $20M dollars each to the builder.
Because the builder knows how important the location is and how close it is to the Go station, he will sell the condos for $1M each. If you can see, the Go station is nearby and it is the same Go station we used to board, our apartment building was also near.
Old house, old area amazing vibes, we just came from there people here, enjoy summer a lot. Even in the midst of this pandemic, people are still enjoying it. Seriously, we miss this area a lot because of the proximity of Go station the rents are a little high here if you get the rental properties here even if it is in $2000, just go for it.
because the Go station is 25-50 steps ahead if you purchase here in this area. Like in downtown, people don’t need vehicles for commute, they use the subway and Go train, here also you don’t need a vehicle, from Go station you can reach downtown Toronto in 25 minutes, we really miss this.
So this is the reason for which we are trying to get a condo in this area so let’s directly go to the office, see if any unit is left we might get that, it will be a little expensive but it will be worth it because the appreciation of condos here will be very much.
So let’s go. -Hopefully, we get that.-Finger crossed. As soon as you enter the builder’s office, they will tell you about the area where the project is launched. And they will tell you about the facilities as well.
They have a model of the building, which they explain to you from all the directions, say if you buy in the Eastside, what kind of view you will have, similarly they’ll show you for West, North and South.
Also, there is an interactive screen TV, where different floor plans are given you can check it out according to your requirement if you are seeing a one-bedroom or two-bedroom where it will be placed in that building. Also, you can check by rotating the 3D interactive model where its exact placement will be in the building.
So that’s a great thing one more amazing thing to help the buyer decide is, they have shown you the view from each floor, like how it will look outside from each floor and each direction. So here they have given the view of CN tower, obviously, that side will be costly.
Also, they have shown that it is near the Go station, so they have taken an exact view of the Go train. So this is a sample flat which they have kept here this is a modular kitchen, the whole look of the kitchen is very modern, so we get all these things by default in this condo.
This looks so amazing. And this is also included. The appliances are small according to the space of this condo. But still, it looks very good. We get a microwave option here, mini freeze is installed here. Compact. Dishwasher. It is very beautiful. It’s nice and compact.
Freezer here. Island lamps. The best thing that I liked about this kitchen is this Island and this dining table which is expandable but you can fit it inside this Island, by contracting. They have utilized the space very efficiently.
If you are buying the condo in the east direction, you will get this view and from the south side, this is also an amazing view. Obviously, condos on this site will be a little expensive and I don’t think we have that option available.
and they have given a layout of your living area, here it looks really beautiful. You will get a lot of options for finishes, you can select one of your choices out of these three options you can choose one for your cabinet and flooring, which is really good.
Let us see the washroom. We get a modern look here, which is very compact and beautiful we get the standing shower option in smaller units they have given a bathtub in it and in bigger units they have given a standing shower.
We asked them if we wanted otherwise, they said you can upgrade it. It looks nice! This is going to be a smart building, therefore, she is showing, the first lock is your main door lock you just have to enter the number and you can enter, you don’t need a key anymore.
the third screen which she is showing will be installed in your unit and from there you can check if someone comes to your door, you can open the door while talking to them. The middle one is the main door of your unit.
Here also you don’t need keys, you just enter the number and get inside. You can control this with your phone, so that’s a great thing you don’t need a key anymore. also your car number plate will be detected at the parking, so it will open the door automatically and it will turn on the lights of your unit, and maintain the room temperature, according to what you have set that’s again great.
Now let’s check if they have anyone-bedroom available in the first phase. There will be units, one room/ one-bedroom apartment, one-bedroom condo? -Yeah, but that’s not going to, that you can get it.
Yeah – How much costly will that be? $50,000…?- Probably. In 1st phase launch if someone cancels or back out – there won’t be any one-room condo?- 95% and more is full. Because they have 10 days cooling-off period, right? They will not back out for one room? They already know that they have the best price.
Yeah. As you have heard from the salesperson, was saying that all the one-bedroom apartments are sold out it is already two weeks since this project was launched; it was a very high demand project.
So there is a 1% chance, if a buyer cancels their condo or upgrade to two-bedroom ones then we might get some chance, of getting that option. But it’s like hot selling property, the chances are little but she said that she will call us in 2 hours;
they will check their inventory and will inform us if they have some availability or not, so we’re still hopeful, fingers crossed the demand is pretty high, that’s why I’m little afraid, that we might not get it but we really want to live there,
we want to move there in future so, from an investment point of view, we wanted to have a condo in that project. So still fingers crossed. We are returning home, let’s see what’ll be the status in 2 hours, whatever be it, we will keep you posted.
The project was so high demand that within1 a week all the one-bedroom were sold out we have shown you, how good the location was and how many features the builder is offering, of course, it was ought to be sold out.
We have reached home and waiting for the phone call, fingers crossed! but quickly let us tell you the whole process, when you are going to purchase your condo what processes you need to follow? First of all, few agents get VIP access,
which means in any special project, they get their VIP launch first you cannot get those condos from the builder directly you cannot get any pre-construction house also. You need to go through those agents but they give you limited access,
that builder keeps some unit with themselves and tells agents that these are the units that I am allowing you, go to the market and whoever is your client, you can talk to them. I saw an ad on Facebook, and that’s why I contacted her.
I haven’t talked to my realtor, if you are thinking about purchasing a house or have in rent you can fill out the form, given in the description below and our realtor will get in touch with you, and they’ll help you in purchasing or renting a house.
If you are getting a realtor from VIP access its prices are relatively much low, in VIP you get the parking free and there are other advantages in it. But it has limited access, the very good projects all gone in a flash.
You have already seen how good the project was. From an investment perspective, if any projects appreciation is very high then it is very good for investment purpose, and if it is near the Go train its rental will be also high.
Along with the high rental, that condo’s price will also be high. Even if you get the house in VIP access, the price difference will not be that big the prices are still higher, I mean prices according to the area but comparatively you will get some discount.
and also you will get some added advantage, like in this project they are giving lockers free with the one-bedroom condo so that’s again, we’re saving$6000 through this. So let’s see if we can get it. Closing of such projects happen after 3 to 4 years,
of condo project specially and from an investment perspective, it is good because you need to give only 10%in some of the projects and you can sell them before that 3-4 year duration. Let’s say you have purchased for $300,000 and you feel that after two years its value has appreciated to $400,000,
few projects reach such value. So before closing, you can sell them at $400,000. Let’s say you have got VIP access and there are units available, in high demand projects, as soon as possible you have to make your cheques ready,
you have to keep your DL ready, you also need to have a good credit score and only then, you will get it otherwise, the good projects go away in a jiffy, you need to move fast, you really don’t get time to think.
So you have to first set your criteria, if a good project comes just go for it, but, again you have to decide if you want to buy a condo or a house, detached or semi detaches; we will make a separate video on that.
So let’s see what she says, we are a little nervous. Fingers crossed. – Hello?- Hi Harmeet. – Quickly just wanted to check, if there is any other one-bedroom available? – Nothing available. Nothing. Nothing is… like,one-bedroom is not available? So,
when they will launch the second phase? – The second phase, probably somewhere next week, but.. the price would definitely go up that’s for sure. – In 2nd phase will they launch any one-bedroom? – They might have a one-bedroom.
ok – So the price will be higher you are saying?- Yeah definitely will be higher, that’s for sure. – Alright let me know when the launch, the second phase, at least we will come to know about the pricing and all. – For sure, I’ll let you know, definitely, thank you, bye-bye