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