There are so many things to consider when buying a new home, from house features to location, that it’s easy to overlook what’s really important. However, remember that buying a home is more than just picking out floor plans and backyard space — it’s a financial investment. Plan for a home you can afford by keeping these important numbers in mind.
5 Important Numbers of those thinking of buying a home
As you can see, this infographics was created by the U.S. offices of C21, so it does note entirely apply to those thinking of buying a home in Winnipeg, or elsewhere in Canada. However it is helpful to get buyers thinking along these terms.
The main differences are that in Winnipeg, you still can buy a home with only 5% down, provided you qualify for one of the mortgage insurance companies, such as CHMC or Genworth.
Also, closing costs, which include Land Transfer Tax, legal fees and other taxes, come in closer to 2-3% of the price of the home.
If you’re thinking of buying a home, be sure to check out my complete guide below:
Buying a Home in Winnipeg The Complete Guide A-Z
Buying a home in Winnipeg is likely the largest investment you will ever make. It’s a very involved process, meaning that a lot of professionals are part of the process. You will need a lawyer, real estate agent, home and life insurance experts, home inspector, moving company and more. More info via Winnipeg’s Real Estate Blog
Tips and Rules for visiting an Open House
Visiting an open house is a great way to get started when shopping for a new (first, or next) home. Here is a list of tips to help make your house-hunting more successful. More info via Winnipeg’s Real Estate Blog