One of the biggest misconceptions about Mississauga condominiums is that they refer to a specific structural form.

But, the truth is; the word condominium actually refers to a specific form of shared legal home ownership and not a specific structural building form. As a result most first time condominium buyers are always astonished by the fact that condominium apartments are not the only type of condominiums that exist in the Mississauga marketplace.

 

Some common types of condominiums in the marketplace are: 

                   Condominium Townhomes  

             

 Condominium Apartments  

               

Row House Condominiums     

 

Condominium ownership appeals to active young singles, couples without children, couples with children and retired couples or singles. Many developments are geared specifically to these segments or to a mixture of these segments. As a condominium suite owner, you own a specific suite which is legally registered in your name at the land registry’s office. However, as a suite owner you share common elements with all the other suite owners.


What does common elements includes?

Common elements includes: Driveways, gardens, walkways, lawns, lobbies, elevators, parking areas, storage areas, laundry rooms and stairways etc.  

Last, but not least is the recreational facilities such as; swimming pool, gym, sauna, hot tub, tennis court, basketball court, movie theatre, outdoor patio, bowling alley etc.

Parts of the common elements may be designated for the exclusive use of one or more individual suite owners, in which case these are called limited common elements (or limited common property). Examples of limited common elements are: parking spaces, roof gardens, balconies, storage lockers, front and backyard.

 

In my opinion:

Condominium apartment sales in the city of Mississauga are gaining popularity because of the following reasons: 

1.  Mortgage interest rates are at an all-time low. Check out Genworth Canada to see a list of all the Canadian banks daily rates in an easy to understand comparison chart.

2. Mississauga condominiums are affordable plus they offer world class amenities and facilities that most young singles and couples seeking care free living find attractive.

3.   Mississauga condominiums are ideally located within walking distance to park settings, shopping mall, restaurants, coffee shops, libraries, public transportation, YMCA, Chapter’s and indigo bookstore and 24hours grocery stores.

4.   Mississauga condominiums are competitively priced and have a wide price selection from $150,000 and run well over 1 million dollars for luxury suites. Thinking of moving to Mississauga?

Click here for a FREE personalized comparison report that sorts thru 1’000’s of condos to provide options based on your specific requirements.

 

It’s The Little Extras That Separates Ordinary From Extraordinary!

Contact Wandanna Today For Extra Ordinary Service & Results!!


  

  A Name Real Estate Investors Trust and Recommend!

 

Sales Representative
Royal Lepage Credit Valley Real Estate Brokerage
Direct: 416-268-9344
Office: 905-793-5000
                                                   www.ViewHomes24Hours.ca                                            

 

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         Wandanna Melliphant - Specializes In Helping Mississauga First Time Buyers (Royal Lepage Credit Valley Real Estate Brokerage): Real Estate Agent in Toronto, ON

              

 
This post has been included in Ontario Real Estate News Peel District, ON Real Estate News Mississauga, ON Real Estate News Square One (Mississauga, ON) Real Estate News
Post is included in group: ABR/REBAC
Post is included in group: Posts to Localism
Post is included in group: Market Updates
Post is included in group: Buyer Information - What Buyers Need to Know in Today's Market
Post is included in group: 1st Time Buyers

26 Comments on What is a condominium?

20 Most Recent Comments Displayed Show All

JUL
07
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Charles,

Thanks for stopping by.

If you’re speaking about the curvy buildings, yes they are real and a favorite among young buyers. In regards to your question, please see comment#3 above from an attorney, so yes people do care and it makes a difference. This is what could typically happen in the Mississauga marketplace, first time buyer sees a lovely condominium townhouse, in their mind it's a lovely place to call home, as a professional we educate them that there are monthly maintenance fees and a condo board that manages the complex, hence there are rules and regulations to follow. For some people they don't care, but on the other hand some do care because maintenance fees are added expenses and they don't wish to be governed by a condo board. That fact could make the difference between deciding to buy or not to buy. Hope this helps.

 
6:51am • #7
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Larry,

Thanks for stopping by.

Yes, most consumers are confused because they assume all townhomes are freehold and condominiums are only apartments. It really has nothing to do with the building structure but everything to do with the type of ownership.
7:03am • #8
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Lanre,

Thanks for stopping by.

I'm glad this post provided educational information.

Have a fabulous weekend.

 
7:06am • #9
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Captain,

Thanks for stopping by.

I hope this blog helps consumers to focus on the important things when deciding to purchase a condominium such as type of ownership, maintenance fees, rule and regulations by condo boards etc.

Have a fabulous weekend!

 
7:18am • #10
587,113 Points 46 Featured Posts Outside Blog Called Shot Master

Morning Wandanna -

A good explanation of Condo and Condo living.  Condominiums are hot on our area market.  They are great for the college age all the way through the retired people that don't want the hassles of maintaining a yard and exterior. 

Hope you have a great weekend my friend.
9:09am • #11
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi John,

Thanks for stopping by.

Condominium living appeals to all age group looking for hassle free living.

Take care until we speak again.
9:43am • #12
JUL
09
Great job and great blog. Keep up the good work and good luck to you this year. Thanks
4:56am • #13
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Josh,

Thanks for stopping by.

I’m glad you found this blog educational.

Have a wonderful week!
1:32pm • #14
307,389 Points 32 Featured Posts Outside Blog Called Shot Master

Hi Wandanna, I so agree with the previous commenters. This is a great blog and explanation what condominiums are all about. We encounter the same confusion or surprise - I actually live in a condo that looks like a townhome and many of my neighbors keep calling our association a HOA instead of Condo.
8:27pm • #15
JUL
10
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Andrea,

Thanks for stopping by.

Yes, condominiums can be confusing to identify. It’s especially a sore point in your case, when a consumer views your townhouse as a lovely freehold only to be told that it isn’t freehold and maintenance fees apply.
3:15pm • #16
JUL
11
733,960 Points 13 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Wandanna....Great Explanation of Condominium's. You Sure understand Real Estate in Mississauga ON. I would post this Public so your consumers can read your great explanation about Condominiums too.

Cheers, have a Fun and Successful week!
7:41am • #17
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Fred,

Thanks for stopping by.

Your suggestion is greatly appreciated.

Have a fabulous week!
9:27am • #18
356,724 Points 16 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Wandanna! This is a very good explanation of condominiums. You are definitely the go-to person for condominium sales in Mississauga!
10:41pm • #19
JUL
12
1,311,359 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Wandanna  There is no doubt you have an in-depth understanding of the condominium market. Buyers and sellers in your area woukd be wise to seek your representation.
12:52pm • #20
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Rose,

Thanks for stopping by.

Have a wonderful weekend!

 
2:09pm • #21
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Karen,

Thanks for stopping by.

I hope to learn a few things about marketing neighborhoods from you :)

Have a wonderful week!  
2:20pm • #22
409,930 Points 4 Featured Posts Localism Sponsor Outside Blog Hit Router

Hi Wandanna,  This is a very informative post.  I have not heard the term limited common elements; however, I know what you're referring to.  It is most likely a geographical thing.  We refer to them as common areas.
7:15pm • #23
JUL
13
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Elyse,

Thanks for stopping by.

I’m glad you enjoyed this blog. Another name for limited common elements could be exclusive/ private use.  E.g. parking, locker, balconies etc

Have a wonderful weekend!
9:05am • #24
1,157,967 Points 29 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Wandanna great explanation of what a condominium is.   I also like the incorporation in your blog of photos of the different style of condo complexes available in Mississauga.
8:29pm • #25
JUL
14
237,109 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Jennifer,

Thanks for stopping by.

One of my things to be accomplished this year is to write better blogs. I'm really focusing on content and appearance. It's alot of work, but I trust it will pay off.

Have a fabulous weekend!
8:59am • #26

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Wandanna Melliphant ~ A Name Real Estate Investors Trust and Recommend ~

Mississauga, ON

More about me…

Royal Lepage Credit Valley Real Estate Brokerage

Address: 10045 Hurontario Street, , #1, Brampton, ON, L6Z0E6

Office Phone: (905) 793-5000

Cell Phone: (416) 268-9344

Email Me

Author Bio: Wandanna Melliphant has a passion for helping clients become financially strong using various type of Real Estate Investment strategies. Wandanna specializes in helping clients increase their yearly income from $30,000 per year to over $100,000 per year.

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