69-7500 Goreway Drive, Mississauga | Four-Bedroom Condo Townhouse
Property Description
69-7500 Goreway Drive Mississauga is a four-bedroom, two-bathroom condo townhouse in Malton. The property offers an open-concept living and dining area, a fenced backyard and two parking spaces. It also provides an opportunity for buyers who are prepared to take on renovations and improvements.
Living at 69-7500 Goreway Drive Mississauga
The townhouse provides four bedrooms, giving buyers more sleeping space than many condo properties offer. Meanwhile, the open-concept living and dining area creates a flexible main living space.
The home also includes two bathrooms. Together, the bedroom count and multi-level layout provide room for different household needs.
Private Fenced Backyard
One of the property’s notable features is its fenced backyard. Private outdoor space can be particularly appealing to buyers comparing a condo townhouse with an apartment-style condominium.
The backyard provides room to relax outdoors without leaving the property. In addition, the home comes with two parking spaces.
Understanding an “As Is” Property
69-7500 Goreway Drive is marketed in “as is” condition. Therefore, buyers need to approach the property differently from a renovated, move-in-ready home.
An “as is” sale doesn’t eliminate a buyer’s responsibility to investigate the property. Instead, it makes due diligence particularly important. Buyers should consider the condition of the unit, required repairs and potential renovation costs before deciding what the property is worth to them.
A professional inspection may also help identify issues that aren’t obvious during a showing. Buyers should then factor those findings into their overall budget rather than focusing only on the purchase price.
Buying a Condo Townhouse in Mississauga
Although the property looks and functions like a traditional townhouse, it has condominium ownership. Therefore, buyers need to evaluate both the individual unit and the condominium corporation.
Maintenance fees, the reserve fund, condominium rules and potential special assessments can all affect the cost of ownership. In addition, buyers should have the status certificate reviewed before making a firm commitment.
Our Buying a Condo in the GTA guide explains what buyers should know about status certificates, reserve funds, maintenance fees and condominium corporations before purchasing.
Why the Status Certificate Matters
A renovated kitchen or updated flooring can be seen during a showing. However, the financial condition of the condominium corporation isn’t visible when you walk through the property.
The status certificate provides important information about the corporation. For example, buyers can learn about the reserve fund, insurance, rules and potential legal or financial issues.
This becomes especially important when buying a property that already requires renovations. Buyers need to understand both their potential renovation expenses and their financial obligations to the condominium corporation.
Planning for Renovation and Closing Costs
A property that needs work requires a different financial plan. Buyers need enough money for the purchase and closing costs, but they should also maintain funds for renovations and unexpected repairs.
Closing expenses can include legal fees, land transfer tax, title insurance and adjustments. Condo buyers may also have adjustments related to maintenance fees.
Our Understanding Ontario Closing Costs guide explains the expenses buyers should budget for beyond their down payment.
A Potential Option for First-Time Buyers
The original marketing for 69-7500 Goreway Drive identifies first-time buyers as one potential audience for the property. However, a lower purchase price or renovation opportunity doesn’t automatically make a home affordable.
First-time buyers need to consider mortgage payments, condo fees, property taxes, insurance and renovation expenses together. They should also leave room in their budget for unexpected costs.
Our First-Time Home Buyer Guide Ontario explains financing, available programs, closing costs and other considerations that can affect a first purchase.
Living in Malton, Mississauga
Malton is located in northeast Mississauga near Toronto Pearson International Airport. The neighbourhood provides access to public transit, shopping, schools, parks and major transportation routes.
Westwood Square is nearby and provides shopping and everyday services. The original listing also identifies Highway 427 and Pearson Airport among the surrounding transportation connections.
Malton Community Centre and Library
The Malton Community Centre is another nearby community amenity. The facility provides recreational programs and community services for area residents.
The Malton Library is also located within the community centre. Current information about programs, facilities and recreation services is available through the City of Mississauga.
Public Transit in Malton
Transit access is another consideration for buyers in this part of Mississauga. Malton GO Station provides connections for commuters travelling within the Greater Toronto and Hamilton Area.
Because routes and schedules can change, buyers should confirm current transit information directly with GO Transit and MiWay when evaluating their commute.
What 69-7500 Goreway Drive Offers
69-7500 Goreway Drive combines four bedrooms with a fenced backyard and two parking spaces. Those features can be difficult to find in some entry-level condominium properties.
However, the property’s “as is” condition makes careful evaluation particularly important. Buyers need to consider renovation costs alongside the condominium’s financial condition, monthly fees and their overall purchase budget.
For the right buyer, the property provides an opportunity to improve the interior while benefiting from the space and outdoor area of a townhouse-style home.
