For most first-time buyers in the GTA, the real choice is between a condo apartment, a townhouse and, if the budget stretches, a semi or detached house. Each one costs money in different ways. This guide compares them on the things that actually affect your life and your finances in 2026.
What each option costs to buy
August 2026 average sold prices in Brampton and Mississauga show the spread (WOWA, based on TRREB data):
| Home type | Brampton | Mississauga |
|---|---|---|
| Condo apartment | $434,457 | $495,052 |
| Condo townhouse | $569,104 | $706,892 |
| Freehold townhouse | $731,389 | $874,772 |
| Semi-detached | $774,246 | $879,494 |
| Detached | $1,020,556 | $1,275,221 |
Under $500,000, the minimum down payment is 5 per cent. On a $450,000 condo that is $22,500. On an $875,000 townhouse it is $62,500. That gap is often what decides the first purchase.
Monthly costs: fees versus repairs
Condos charge a monthly maintenance fee that covers the building, common areas, the reserve fund and sometimes heat, water or hydro. Fees in older GTA towers can be high, and some buildings built in the 2000s are now raising fees or charging special assessments for major repairs.
Freehold houses have no condo fee, but you pay for everything yourself: roof, furnace, windows, driveway and snow removal. A common rule is to budget about 1 per cent of the home’s value per year for maintenance.
Condo townhouses sit in between, with a fee that usually covers exterior work and landscaping. Some newer townhouses are freehold with a small “common elements” fee for a shared road; these are called POTL, or parcel of tied land.
What you control
In a condo, the board and the declaration set the rules: pets, rentals, short-term rentals, renovations and even barbecues. In a freehold home, the City’s bylaws are the main limit. If you want to add a basement suite, renovate freely or rent part of the home, a house gives you far more control.
Growth and resale
Over the long run, GTA houses have generally gained value faster than condo apartments because the land underneath is scarce. Condo apartments have been more affected by new supply: in the 2023 to 2025 slowdown, many investor-owned units came onto the market at once. That does not make condos a bad buy. A condo you can afford today builds equity and can be a step toward a house later. See our GTA home price history for how each segment has moved.
Checks before buying a condo
- Review the status certificate: reserve fund balance, planned special assessments, lawsuits and rules.
- Ask what the fee includes and how much it rose in the last three years.
- Check parking and locker ownership, and whether they are titled or exclusive-use.
- Read the guide to rising condo fees before you commit.
Checks before buying a house
- Age of the roof, furnace, air conditioner and windows.
- Grading and signs of basement water.
- Whether a basement unit is registered with the City.
- Any rented equipment that will transfer to you.
Which fits you?
- A condo fits if you want the lowest entry price, a walkable or transit-friendly location and little maintenance.
- A townhouse fits if you want more space and a small yard without the full price of a detached home.
- A house fits if you want control, room for a growing family or rental income from a basement unit.
Next: read the first-time buyer guide, compare types of homes in Canada, or ask us which option fits your budget. HomeLife Landmark Realty Inc., Brokerage.
Price data: WOWA market reports for Brampton and Mississauga, August 2026, based on TRREB sales.