Our Mississauga mortgage brokers are excited to welcome you to the lovely city of Mississauga; this beautiful city sits on the shores of Lake Ontario with a population of just over 700,000 people and a booming real estate economy. Once a sleepy bedroom community of Toronto, Mississauga has now expanded into an exciting city to live in. It’s close proximity to Toronto being just one of the many reasons people choose to make their home there.
While this bustling community it undoubtedly a great place to call home, affordability is top of mind for many who are moving to the GTA. So it’s important to know just how much living in Mississauga put you back. Our Mississauga mortgage brokers have seen the exodus as many people seek out more affordable accommodations while wanting to stay close to Toronto’s downtown core.
If you’re not yet prepared for the costs of living in Toronto, you may be able to find homes at slightly less inflated prices in Mississauga, but unfortunately not by much. Mississauga was recently named the third most expensive city in Canada, just behind Toronto and Vancouver. So if you’re looking to make Mississauga your home, it’s important to know just how much you can afford before you start house hunting. Do this by sitting down with a mortgage broker and getting mortgage pre-approval, so you know exactly within what price bracket to start your search.
Figuring out how much a city costs to live in has a lot to do with home prices, but also uses other references such as clothing, food and transportation to give a well-rounded view of the issue. In Mississauga,the average person will pay about $16 for a basic lunch and spend more than $60 every time they go grocery shopping. Cocktails cost around $11 and a cappuccino can be had for $6. Utilities will put you back about $215 a month, not including Internet, which is about $62. If you’re mortgage pre-approval knocked you out of the running for Toronto’s cool million home average, Mississauga’s average prices of $800,000 per detached home may make you slightly more comfortable.
If you’re looking to make the move, we encourage to stop by Group Mortgage Solutions and talk with one of our Mississauga mortgage brokers, who can help you achieve a better rate for your mortgage, get you mortgage pre-approval, and help get you into your new home!