There are plenty of myths about the housing market out there. You have probably heard “you can’t purchase a home if your down payment is less than 20%.” Well, this just isn’t true! In Manitoba, first time home buyers have tons of options for finding their first home. Luckily, there are experienced real estate agents throughout the Winnipeg area here to help you understand the process.
Buying your first home should be exciting but the process can be overwhelming. That's where we come in! We are a team of certified real estate professionals who have years of experience helping first-time homebuyers navigate the Winnipeg real estate market.
Unlike other types of purchases, you can’t just walk into an open house and walk out with a set of keys. Browsing through an MLS site or reviewing the newest home listings in Winnipeg is exciting but there is a lot more to it than that. In Manitoba, first time home buyers might focus on the purchase price of a property but it is important to understand all of the expenses and commitments involved.
An experienced Winnipeg REALTOR® can walk you through the process, detailing how to get started and what to expect on closing, including:
Purchase Price: Before finalizing a sale it is important to make sure that you have access to all of the necessary funds. If you have been saving up a down payment, this amount will be taken off of the overall sale price of a home. In the event that you commit to a set down payment but are then forced to take funds out of this amount to cover legal fees or closing costs, it will impact your bottom line and can force you over your budget.
Mortgage Payments: Before beginning the house hunting process it is a good idea to invest in a mortgage pre-approval. This will help you understand the amount of your mortgage loan, as well as the monthly payments and terms that you are committing to. If you want lower mortgage payments, the best way to accomplish this is to boost your credit for potential lower interest rates and maximize your down payment.
Legal Fees: When making a large purchase it is important to have a strong legal presence helping you out. Investing in reliable legal services comes at an expense and will often be included in closing costs, so it is something that buyers should be prepared for.
Taxes: You expect to pay taxes at retail stores but it is easy to forget about these when buying a house. For example, land transfer tax is a commonly forgotten closing cost. Luckily, there are many Manitoba first time home buyers incentives out there. If this is your first experience in the real estate market, you are likely eligible for first time home buyer tax credits.
If you are curious about first time home buyer programs, want to secure financing for your starter home or are seeking out a home inspection for a property that you’ve already got your eye on, we can help!
At RE/MAX One Group, we pride ourselves on providing personalized service and attention to detail. We are committed to helping you find the perfect home that meets your unique needs and budget. Our deep knowledge of the Winnipeg real estate market means that we can help you find the right neighbourhood, negotiate the best price, and guide you through the entire home buying process.
We offer a range of services to help first-time homebuyers in Winnipeg. Our services include:
Home Search: We understand that everyone has different needs and preferences when it comes to finding their dream home. That's the reason we work with you to understand your unique requirements and preferences and help you find the perfect home that meets your budget and lifestyle.
Financing Assistance: We know that securing financing for your first home can be a complex process. That's why we offer financing assistance and can connect you with reliable lenders and financial institutions who can help you secure the financing you need to make your dream home a reality.
Home Inspections: A professional home inspection is essential to ensure that the home you are considering is in good condition and free from any major issues. We can arrange for a professional home inspection to give you peace of mind and ensure that you make an informed decision.
Negotiation: We know that the negotiation process can be daunting, especially for first-time homebuyers. That's why we will negotiate on your behalf to ensure that you get the best possible price for your home.
If you are a first-time homebuyer in Winnipeg, don't go at it alone. Contact Dino Stepic today to schedule a consultation and learn more about how we can help you find your dream home. We are committed to providing you with the best possible service and helping you make informed decisions throughout the home buying process.
With our personalized service, deep knowledge of the Winnipeg real estate market, and access to a network of trusted professionals, including lenders, home inspectors, and lawyers, we can help you make your dream of home-ownership a reality.