Buying a fixer-upper in Mississauga

Posted on: May 17th, 2012 by Sam McDadi

Mississauga-Real-Estate-Sam-McDadi-Luxury-homes-Buying a Fixer upper

I have recently sold a number of homes in the Streetsville area. This mature neighborhood in Mississauga has a wide range of real estate properties available —from new townhomes, to historic homes, to bungalows, to post WWII homes, and more. It is also a neighborhood that currently has quite a few homes that are being rebuilt or extensively renovated. So what are the advantages of buying a fixer-upper?

One of the great things about buying a fixer-upper is that every time is the right time; it is not dependent upon whether the real estate market is hot or cold. Mississauga real estate properties that need some tender loving care can be a real bargain during any real estate climate. The best fixer upper is the home that everybody will covet when it is fixed up, but few can see past its imperfections to see the potential.

Location, location, location. Location drives saleability. Buying a fixer-upper can be a wonderful opportunity to acquire property in a neighborhood that is expensive. For some, it is the only way. Fixer-uppers are usually on terrific lots that are big, wide, private, or otherwise scenic. So usually, the selling feature of the property is the location and the lot itself. Those details, obviously, can’t be changed. The home’s interior and exterior can.

Buying a fixer-upper is a great way to obtain a custom-made home. Whether you are the designer and builder, or whether you hire an architect and a general contractor, a fixer-upper is a wonderful way to create your dream home. Depending on how much work needs to be done, these homes open a world of opportunity to choose your flooring, your kitchen, your bathrooms, and much more.

For that reason, fixer-uppers can provide much pride and satisfaction. I have had the privilege of selling countless fixer-uppers to many clients. When I return months later to say “hi” and see how they are doing, I am always incredibly happy to see such wonderful transformations. And my clients are always beaming with smiles, as they show off their “new” home. It is heart-warming to see.

If you are considering purchasing a fixer-upper, please contact me at 905-502-1500, and we can discuss this further.

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2 Responses

  1. Paul Cutajar says:

    Hi Sam. Paul Cutajar here from Re/Max. I would agree with you in regards to buying a fixer upper could be profitable, however I would like to add that becuase of the higher cost of homes (we are in a very good market) even the properties that need work are priced at market value.
    As you mentioned Location is always key. If the buyer purchases this property in a Middle class area, they will be over priced by the time they do the renovations or they do the work so poorly that the property will sit until the market forces the seller. Take the same scenario in a higher end market and you can make money! Do your homework and don’t watch TV shows that show ‘How to flip a house in 30 days’ it’s not that simple. Buyers should always CLEARLY know what their intensions of the purchase is ie: Buy a fixer upper for US and we can work at it over several years or Add to the house as your family grows because the location is great or Investment for flipping but be realistic with your numbers BEFORE you purchase and no matter what the reasons are your location will dictate the highest value possible.
    Thanks for the post.

    • Sam McDadi says:

      Hi Paul.
      How are things with you?
      I agree with you; flipping homes for $$$ is not as easy as some shows make it seem. Location is crucial.

      Thanks for your comments.
      Sincerely, Sam

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