Buying Land in Mississauga - Good Idea or Not?
If you are interested in getting your feet wet in the real estate game but don't feel that you can come up with a down payment for a home, you may want to consider buying a chunk of land in Mississauga. Is this a good idea? You bet it is! Just as with homes, you will be investing in something that will rise in value with the inflation rate.
The nice thing about buying some land here in Mississauga is you'll be able to save up to build on it later. There's nothing better than designing your own home anyway, and many people choose this route over buying a pre-made house. While you're waiting to have enough money to get the construction started, your land will already be building up equity. There's absolutely no way you can lose by purchasing land here in the city assuming that you've done your due diligence first.
One of the things you have to look at is whether you'll be able to put off building a house for a certain amount of time or whether there is a timeline you must meet. With some land you aren't allowed to keep the land vacant past a certain deadline. If you see land that you'd be interested in buying call up your real estate agent and find out if the building time on it is flexible or not.
Putting your money into land is a lot better than putting it into a savings account at your local bank. It's a lot harder to liquidate the land than it is to dip into a savings account. This means that you will have your investment rising and you won't be able to take anything out of your investment without some serious thought and effort first. This is a great way for people to save money that would otherwise reach into their savings account to purchase something special like a trip or a new car.