Real Estate

Flip from upper mount pleasant Brampton home to mountainview heights, Waterdown.

  • Last Updated:
  • Jun 9th, 2021 1:52 pm
[OP]
Newbie
Jul 2, 2014
15 posts
1 upvote
Toronto, ON

Flip from upper mount pleasant Brampton home to mountainview heights, Waterdown.

Hi All,

We bought our upper Mount pleasant, Brampton detached home in 2015 for ~640k from paradise developments. We are thinking of selling it within next two years and move to waterdown where we booked a pre construction detached from Mountainview Heights,Greenpark homes closing in approximately Mar 2023 for ~1.6M. I want to know your opinions whether you think it is good decision or not and why.
16 replies
Deal Addict
Jun 7, 2017
1019 posts
791 upvotes
BC
Can't tell if it's a good decision for you without knowing what you are trying to accomplish.
For example, if you are trying to relocate to the maritimes I would Waterdown is a poor choice.
Member
Jan 15, 2013
396 posts
276 upvotes
I would rather live in Waterdown than Brampton if that is what you are asking
Deal Addict
User avatar
Mar 30, 2010
3370 posts
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Greater Toronto Area
zsj495 wrote: I would rather live in Waterdown than Brampton if that is what you are asking
@Singh_21
<removed>
Sr. Member
Jan 21, 2011
815 posts
336 upvotes
GTA
How big is the lot size? Resale might be a better option in that price range.
Newbie
Apr 26, 2021
18 posts
7 upvotes
Wow Waterdown house prices must have skyrocketed but then again can be said about everywhere! I remember back in 2013 we looked at Waterdown mainly for budget. The location was too inconvenient unless you are working in Hamilton or Burlington. There is Aldershot GO if you need to take train to Union but unless things have changed (the last time I drove past was couple years ago) there was nothing at that location. Basically had to drive to Burlington to do anything which at least is not far. $1.6M did you check the Upper Joshua Creek homes by Mattamy. That is a much better location IMO and similar prices. That site is at the edge of Oakville and Mississauga. Georgetown or Milton IMO would be better as well.

Brampton gets a bad rep. The NW of Brampton where you are at now corridor is good. Castlemore areas as well. Central Brampton like Shoppers World area or Bramalea less so.
[OP]
Newbie
Jul 2, 2014
15 posts
1 upvote
Toronto, ON
lamin wrote: How big is the lot size? Resale might be a better option in that price range.
Going from 38' lot in brampton to 47' lot. We are planning to sell our brampton house before closing which will probably be around end of 2022 as our tentative closing is March 2023. Our second tentative closing is June/July 2023 and firm is Sep 2023.
Deal Addict
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Apr 6, 2007
2885 posts
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Toronto
Crazy how phase 1 detached (3500 sqft) were 1 million less than phase 4. Then again that was in 2010...
Sr. Member
Jan 14, 2008
511 posts
281 upvotes
Toronto
what is the sq footage of the brampton home and the waterdown home?

the long closing benefits you with price appreciation for both properties.

the Brampton MP location-- there is a large demand for homes (not on rfd of course). builders are selling preconstruction homes well. Paradises's latest release there earlier this month had double car detached from $1.55 mil for 2600sqf., closing in 2022.
by 2023 you maybe able to sell your property and shift over to waterdown with the same or less mortgage due to your equity gain.
[OP]
Newbie
Jul 2, 2014
15 posts
1 upvote
Toronto, ON
RaptorsFan83 wrote: Wow Waterdown house prices must have skyrocketed but then again can be said about everywhere! I remember back in 2013 we looked at Waterdown mainly for budget. The location was too inconvenient unless you are working in Hamilton or Burlington. There is Aldershot GO if you need to take train to Union but unless things have changed (the last time I drove past was couple years ago) there was nothing at that location. Basically had to drive to Burlington to do anything which at least is not far. $1.6M did you check the Upper Joshua Creek homes by Mattamy. That is a much better location IMO and similar prices. That site is at the edge of Oakville and Mississauga. Georgetown or Milton IMO would be better as well.

Brampton gets a bad rep. The NW of Brampton where you are at now corridor is good. Castlemore areas as well. Central Brampton like Shoppers World area or Bramalea less so.
I have checked Upper Joshua Creek prices. Their detached-homes start from $1.4M.
Deal Guru
User avatar
Sep 14, 2003
10687 posts
608 upvotes
Mississauga
IMO, no, that was not a good idea.

I believe adamantly that inflation is going to trigger raising interest rates which will increase cost of borrowing - inevitably lowering house prices. So, succinctly, I'm a bear in the current real estate market.

If you're asking "is this a good area?" I'd say yes. For that price though, I wouldn't.
4chan melts your brain.
Newbie
Sep 21, 2018
82 posts
153 upvotes
RaptorsFan83 wrote: Wow Waterdown house prices must have skyrocketed but then again can be said about everywhere! I remember back in 2013 we looked at Waterdown mainly for budget. The location was too inconvenient unless you are working in Hamilton or Burlington. There is Aldershot GO if you need to take train to Union but unless things have changed (the last time I drove past was couple years ago) there was nothing at that location. Basically had to drive to Burlington to do anything which at least is not far. $1.6M did you check the Upper Joshua Creek homes by Mattamy. That is a much better location IMO and similar prices. That site is at the edge of Oakville and Mississauga. Georgetown or Milton IMO would be better as well.

Brampton gets a bad rep. The NW of Brampton where you are at now corridor is good. Castlemore areas as well. Central Brampton like Shoppers World area or Bramalea less so.
I moved from Oakville to Waterdown a year ago and I am loving it so far. IMO it is actually a better place to live in than Oakville. Anywhere north of the QEW in Oakville is heavily, heavily overrated and you will pay through the nose for a cookie-cutter home. I found amenities and food choices to be personally lacking in Oakville. In Waterdown I am walking distance to a ton of different food places, and if I get in my car there is a huge variety of food places 5 minutes away at Clappisons Corner. I also love the nature and trails in Waterdown, and I find that there are several hidden gems which are WAY less busy than the ones in Oakville. Waterdown doesn't have the "posh" factor of Oakville if you care a lot about what others think of you, but that has never bothered me.

I am not sure exactly what the quoted poster is talking about in terms of nothing being at the location. Waterdown is packed with amenities and Burlington is a very short 5-7 minute drive away. The Aldershot GO is 5 and 10 minutes away from the Burlington GO stations respectively, so your commute is only increasing minorly.

I also disagree with the poster above in terms of Milton being better, but if I'm being honest I think it (sadly) depends on your ethnicity. Waterdown is extremely white-washed, which some people love, whereas Milton is...well, let's just say not so much anymore :) So the preference depends on that. I have family who moved to Milton and they regret it, they want to move back to Waterdown/Burlington.

IMO Waterdown was very underrated several years ago, but with the prices going crazy I'm not sure if you can call it underrated anymore. IMO, you will likely be very happy with your decision, both from a quality-of-life standpoint and financially. I believe that Waterdown prices are heavily tied to Burlington because of the location, so I have a ton of conviction in the long-term about them.
Newbie
Apr 26, 2021
18 posts
7 upvotes
silentguy wrote: I moved from Oakville to Waterdown a year ago and I am loving it so far. IMO it is actually a better place to live in than Oakville. Anywhere north of the QEW in Oakville is heavily, heavily overrated and you will pay through the nose for a cookie-cutter home. I found amenities and food choices to be personally lacking in Oakville. In Waterdown I am walking distance to a ton of different food places, and if I get in my car there is a huge variety of food places 5 minutes away at Clappisons Corner. I also love the nature and trails in Waterdown, and I find that there are several hidden gems which are WAY less busy than the ones in Oakville. Waterdown doesn't have the "posh" factor of Oakville if you care a lot about what others think of you, but that has never bothered me.

I am not sure exactly what the quoted poster is talking about in terms of nothing being at the location. Waterdown is packed with amenities and Burlington is a very short 5-7 minute drive away. The Aldershot GO is 5 and 10 minutes away from the Burlington GO stations respectively, so your commute is only increasing minorly.

I also disagree with the poster above in terms of Milton being better, but if I'm being honest I think it (sadly) depends on your ethnicity. Waterdown is extremely white-washed, which some people love, whereas Milton is...well, let's just say not so much anymore :) So the preference depends on that. I have family who moved to Milton and they regret it, they want to move back to Waterdown/Burlington.

IMO Waterdown was very underrated several years ago, but with the prices going crazy I'm not sure if you can call it underrated anymore. IMO, you will likely be very happy with your decision, both from a quality-of-life standpoint and financially. I believe that Waterdown prices are heavily tied to Burlington because of the location, so I have a ton of conviction in the long-term about them.
To each his own.

When we last went by that area that location we didn't find anything there but then again we are East Asian. The only thing attractive was the budget but that was 10 years ago but if the homes there now are over a $1M there would not sure budget would be a pro anymore especially with our preferences. I found the other areas mentioned especially Oakville much better especially the schools if you have kids.
[OP]
Newbie
Jul 2, 2014
15 posts
1 upvote
Toronto, ON
gc99 wrote: what is the sq footage of the brampton home and the waterdown home?

the long closing benefits you with price appreciation for both properties.

the Brampton MP location-- there is a large demand for homes (not on rfd of course). builders are selling preconstruction homes well. Paradises's latest release there earlier this month had double car detached from $1.55 mil for 2600sqf., closing in 2022.
by 2023 you maybe able to sell your property and shift over to waterdown with the same or less mortgage due to your equity gain.
Brampton home is 2300 sqft on 38' lot with double garage, 4 bed and 3.5 bath plus, it has recently constructed 965 sqft of legally certified basement apartment with 2 medium size bedrooms plus Den. Basement is currently being rented out for $1600.
Refinanced it last year. Currently there is $640k left on mortgage.
Waterdown pre-construction is 3633 sqft in 47' lot with double garage, 4 bed plus guest ensuite on main floor. We are currently in process of paying $150k Deposit by September. They have provided Tentative and firm closing date. Firm closing date is September 2023.

We are planning to sell current home and port the mortgage by that time. My neighbor who has similar house with legal basement sold it for $1.4M in March.
Deal Guru
User avatar
Sep 14, 2003
10687 posts
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Mississauga
Lp1234 wrote: Firm closing date is September 2023.
Whoa. That's a looooooong way away, and so much can happen in that time with over a million on the line.

I would be very very anxious.
4chan melts your brain.
Sr. Member
Dec 28, 2010
786 posts
338 upvotes
Toronto
Lp1234 wrote: Hi All,

We bought our upper Mount pleasant, Brampton detached home in 2015 for ~640k from paradise developments. We are thinking of selling it within next two years and move to waterdown where we booked a pre construction detached from Mountainview Heights,Greenpark homes closing in approximately Mar 2023 for ~1.6M. I want to know your opinions whether you think it is good decision or not and why.
Trying to get to the crux of your question? Are you assessing if you made the right decision of buying the said 1.6mil home ? or that moving to waterdown as a community?
In any case , you have current basement rental and have low mortgage remaining so you will be ok if or when you sell and transfer to your new home in 2023.
Now if the question is, do you like a maintaining a bigger house and moving your family to a new area in 2023 , having more or less work commute etc etc..... time will tell.

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