One of the biggest concerns that buyers express about buying a Winnipeg home is the fear that the market here in Manitoba is going to decline and they are going to be paying to much for their homes. They want to know if they should they wait till next year to purchase a Winnipeg home.

Well the short answer is ‘No’, you shouldn’t wait because Manitoba has always had a conservative market that doesn’t see the huge ups and downs of markets like B.C. and Ontario where you can see a drop in house prices of 30% or more in a short time.

The time to buy is NOW.  You will pay more next year for the same home.  According to the Article in the Winnipeg Free Press, even though the real estate markets in other provinces are predicted to see a decline,

“Manitoba’s resale-homes market will outperform most other provincial markets in 2013, according to the latest forecast from the Canadian Real Estate Association.”

Also CREA is

“forecasting a four per cent price increase for this year, which it predicts will be the fifth highest among the provinces.”

That means that a $250,000 house will increase aproximately  $10,000 by next year.  So as a buyer you really need to take this into account when deciding to put off you purchase till next year. That decision will cost you.

My suggestion is to look at creative ways to purchase a home now. Most people who would like to purchase a home but don’t have the downpayment or maybe some challenges on their credit do not realize that there are many different ways to purchase a home.

Call me and we can meet to discuss your circumstances and some creative ways to get you into a home today.

Brian Bernacki – 204-981-9035

 

 

 

How to avoid home-buyer’s regrets when purchasing a house.

The biggest reason home buyer’s have regrets when buying a house is they don’t do their home work.

According to Julian Beltrame’s article in the Globe and Mail

“The most common regrets for first-time home buyers have little to do with paying near record level prices, or purchasing the wrong house. Instead, many say it was a mistake not to buy sooner so as to stop pouring money down the rental hole with nothing solid to show for it.”

It is also interesting to know that

“The two biggest regrets — admitted by 60 per cent of the 1,002 respondents — have to do with finances; not putting down a bigger down payment, and not thinking hard enough about the associated costs of home ownership.”

A lot of home buyers fail to budget for the cost of maintaining a home. A good realtor will give you a realistic idea of the extra costs associated with purchasing your home. Before you start your house hunting trip meet with your realtor and find out what costs will be associated with buying a home and understand how much you need for down payment and costs  associated with the closing.

“The other key advice she gives them is that they need to get pre-approval for a mortgage, so buyers know how much they can spend on a home.

“They need to know how much of house they can afford, based on their income, their GDS (gross debt service) and TDS (total debt) ratios, because they might think they can afford $300,000 when they can’t,” she explained. The ratios calculate monthly home costs, and other debt charges, as a percentage of household income to determine affordability. A ratio of 40 per cent on all commitments (TDS) is usually acceptable to mortgage lenders.

The more prospective buyers know before taking possession of the house keys, she says, the less likely it is they’ll have regrets later.”

The bottom line is buyers need to educate themselves on what’s all involved in purchasing and maintaining a home  in Winnipeg. There is a lot of resources available but the best place to start is with a realtor.

What You Need To Do To Sell Your Winnipeg Home

Having a Winnipeg home for sale does not mean it is easy to sell and selling a Winnipeg home doesn’t always happen as quickly as most would like. The reality is we do need to work as a team, as real estate agent and home seller in order to make selling your home a successful. Read the rest of this entry

To Remodel or Not Remodel Your Winnipeg Home For Sale

The two most important rooms when remodeling a home for a quicker sale are the bathroom and the kitchen.

Many sellers hesitate when they think of this because they fell they have to invest thousands of dollars to update these two key rooms.

They think this means replacing allappliances and cupboards.  Remodeling a kitchen inevitably brings thoughts of having to replace countertops and expensive fixtures.  However you doen’t have to be the way you go for an update! Becuase the littlest amount of change can make a big difference. Read the rest of this entry

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