What Does $500,000 Get You in Mississauga?

If you're shopping for a home in Mississauga, you're dealing with a challenging market that's somewhat devoid of robust inventory.

For months now, demand has outpaced supply and buyers are finding themselves embroiled in bidding wars that have them spending more (sometimes significantly more) than they had initially planned. Sometimes, buyers with more modest budgets are locked out of the market altogether.

That said, condos -- almost always much more affordable than town, semi and detached houses -- are an option for people who want to get into the housing market but can't or won't spend over $500,000 on a home.

And, if you're actually looking for a luxurious home that's expensive but requires little in the way of upkeep (condo dwellers are typically free from snow clearing and lawn-mowing duties), there are costly units that are designed to impress.

So, here's a look at condos available at various price points in Mississauga.

5) If Your Budget is Very Modest: $200,000 or less

Although it's rare, units that cost about $170,000 can pop up on MLS from time to time. Often, they're spacious and located in more mature buildings in the city's more affordable neighbourhoods. Right now, there do not appear to be any condo listings well below $200,000 (mobile homes are available at such price points), but you can purchase this two-bed, one-bath unit on Queen Frederica for $199,800. The kitchen is nicely upgraded and boasts stainless steel appliances and pot lights. Also, older units tend to offer a lot more space, so this suite would work for a couple or young family.

4) If Your Budget is Somewhat Modest: $250,000

If your budget is somewhat modest, there are options available. This one-bed, one-bath Absolute (Marilyn Monroe) unit costs $249,990 and offers nine-foot ceilings, granite countertops and a modern kitchen. You also get a private locker and parking spot and access to a gym, a terrace and an indoor/outdoor pool.

3) Mid-Range Budget: $500,000

Although some people might be horrified by the notion of spending half a million bones on a condo, it's actually a good budget because it gives you access to more options. If you can part with $500,000-$550,000, you can get this Churchill Meadows condo for $549,000. This place is over 1,200 sq. ft. (absolutely enormous for a condo) and offers two bedrooms, two bathrooms, a den and two (yes, two!) owned parking spaces.

2) High Budget: $750,000 - $850,000

With a budget like this, you have a lot of freedom. For $840,900, you can get this 1,600 sq. ft. Absolute penthouse and take a bath in a luxurious tub while admiring the city's ever-growing skyline. This unit has two bedrooms, three bathrooms, floor to ceiling windows and hardwood floors throughout (no laminate for you!) The maintenance fees are high (to say the least) at $1,351.91 a month, but you're getting a lot of square footage and a very enviable view.

1) Super Baller: $1 Million or More

If it ain't no thang for you to drop more than $1 million on a condo, you can get this 3,338 sq. ft. Duke of York unit for $1,299,000. You could happily raise a family in this three-bedroom, four-bathroom unit that boasts almost $800,000 in custom finishes and offers a huge kitchen and separate dining area. This place has a full laundry room and actual hallways -- HALLWAYS! It also offers three parking spaces and VIP (they have their own room) lockers.

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