Purchasing a Preconstructed Condo

[Amaal Mahdi]

Hey Everyone.

I recently signed a contract for a 1Br 1Bathroom condo at the intersection near Hurontario and Eglinton street W in the heart of downtown Mississauga. It’s right across Square one shopping mall, a couple mins away from Sheridan College and the LRT is going to be built opposite of the condo which will be completed in 2024. The condo is also expected to be done in 2024 and I signed up for this property as a first time investment opportunity. I ended up purchasing the place for around 560,000 including parking space. I wanted to get your insights as to whether this was an appropriate price to pay for the condo and if you see any potential growth in value over time. I’m pretty new to real estate investing and any advice would help. Thanks again for taking the time to read it.