$585K · 2 bed Condo Apartment · Lakeview, Mississauga

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About this home

In a community that once inspired legendary jazz pianist Oscar Peterson, this home offers its own rhythm of comfort, convenience and lifestyle! Bright and spacious, functional layout offering both open-concept living and a defined dining space; ideal for families or working from home. This bright 2-bedroom, 2-bathroom unit features a split-bedroom design for privacy, a spacious primary retreat with walk-in closet and ensuite, and a versatile dining area that easily doubles as a home office or t…

Property details

MLS#

W12980758

Status

Buy Now

Beds

Baths

2 full, 0 half

Size

800-899

Style

Apartment

Type

Condo Apartment

Year built

—

Property features: Cul de Sac/Dead End, Lake/Pond, Library, Park, Public Transit, Rec./Commun.Centre

View: Lake, Park/Greenbelt

Building name: Village Terraces
Condo corp #: 675
Balcony: Open
Locker: Exclusive
Association amenities: BBQs Allowed, Concierge, Game Room, Party Room/Meeting Room, Sauna, Exercise Room
Fees include: Heat Included, Water Included, Common Elements Included, Building Insurance Included, CAC Included
Pets: Yes-with Restrictions

Garage: 1-car Underground
Garage spaces: 1
Parking: 1 total
Heating: Forced Air
Heating fuel: Other
Cooling: Central Air
Fireplaces: —
Waterfront: No
Exterior: Brick
Fronting on: —
Cross street: Lakeshore Rd. East and Cawthra
Basement: None
Stories: 10
Utilities: —
Laundry: In-Suite Laundry, Laundry Closet
Interior: None
Parking features: Underground

Level	Room	Dimensions
Main	Living Room	2.57m × 3.23m
Main	Dining Room	3.28m × 2.95m
Main	Kitchen	2.29m × 3.28m
Main	Primary Bedroom	3.56m × 2.97m
Main	Bedroom 2	4.09m × 2.62m
Main	Bathroom	1.96m × 2.39m
Main	Bathroom	1.83m × 3.07m
Main	Foyer	2.62m × 1.65m

Level

Room

Dimensions

Main

Living Room

2.57m × 3.23m

Main

Dining Room

3.28m × 2.95m

Main

Kitchen

2.29m × 3.28m

Main

Primary Bedroom

3.56m × 2.97m

Main

Bedroom 2

4.09m × 2.62m

Main

Bathroom

1.96m × 2.39m

Main

Bathroom

1.83m × 3.07m

Main

Foyer

2.62m × 1.65m

Annual costs

Monthly carrying costs, utilities, and closing cost estimates.

Pre-filled from listing✓ $585,000✓ $3,019 tax✓ Other✓ 800-899 ft²✓ Ontario· Listing facts below · Ontario averages for utilities — drag sliders to match your home

Monthly all-in

$5,262/mo

incl. closing costs (yr 1)

Annual total

$63,150

year 1

Mortgage only

$2,219/mo

principal + interest

Beyond mortgage

$1,904/mo

taxes, utilities, upkeep

Financing

Purchase price

Down payment20%$117,000

20%+ down — no CMHC premium

Mortgage rate3.00%

Amortization

Province

Government

Property tax (annual)from listing$252/mo

Utilities

Hydro / electricity$75/mo

≈ $0.07/ft² × ~850 ft² · ON avg ~$75/mo · assumes gas heat

Other$125/mo

Typical ON gas-heated home · ~$125/mo

Water / sewer$60/mo

ON municipal avg ~$60/mo

Internet / TV / phone$70/mo

ON internet/TV avg ~$70/mo

Maintenance & upkeep

Maintenance reserve1.0%$5,850/yr

1% of value/yr — standard reserve

Landscaping & snow$0/mo

Landscaping & snow removal · $0 default

Home insurance$100/mo

$100/mo default · adjust for your home

Security system$0/mo

Optional monitoring · $0 default

Condo / HOA fees (mo)$61/mo

From listing or typical fee

Closing costs (one-time, year 1)

Land transfer tax (ON)computed$8,175

Legal / lawyer fees

Home inspection

Title insurance

Moving costs

CMHC premiumNone (20%+ down)

Cost composition

Mortgage (P+I)42% $26,632/yr

Property taxes18% $11,194/yr

Utilities6% $3,960/yr

Insurance & security3% $1,600/yr

Maintenance9% $5,850/yr

Condo fees14% $8,814/yr

Closing costs8% $5,100/yr

Mortgage is 42% of your true cost of ownership. The other 58% surprises most first-time buyers.

Full breakdown

Mortgage & financing
Mortgage (P+I)	$26,632	$2,219/mo
Government & taxes
Property tax	$3,019	$252/mo
Land transfer tax(closing)	$8,175	$681/mo
Insurance & protection
Home insurance	$1,200	$100/mo
Title insurance(closing)	$400	$33/mo
Utilities
Hydro / electricity	$900	$75/mo
Other	$1,500	$125/mo
Water & sewer	$720	$60/mo
Internet / TV / phone	$840	$70/mo
Maintenance & upkeep
Maintenance reserve (1.0%)	$5,850	$488/mo
Condo fees
Condo / HOA fees	$8,814	$735/mo
Closing costs (one-time)
Legal / lawyer(closing)	$2,500	$208/mo
Home inspection(closing)	$600	$50/mo
Moving costs(closing)	$2,000	$167/mo
Total	$63,150	$5,262/mo

Listing facts below · Ontario averages for utilities — drag sliders to match your home. CMHC added to loan principal only — not double-counted in chart.

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Annual costs