One of the biggest investments a person will typically make in their lifetime is buying a home. However, if there are any mistakes during or after the process, they can be quite costly. So as a first time home owner in Winnipeg, there are some things that you should take note of and use in your venture to buying your very first house.
What lifestyle fits you?
The first thing that you will want to keep in mind when you start thinking of buying your first home, is the type of lifestyle that you live. How you live should help you decide on where you would like to buy your new home. Do you want to live in a home away from it all, with lots of land; possibly own some farm animals? Do you like the urban lifestyle and Winnipeg city bustle and lights? These are the things that you need to think of when you are trying to figure out where you want your new home to be.
Living in the suburbs is generally the lifestyle that people opt for when they want to settle down and start a family. Suburb neighborhoods are great places for children to grow up, play outside, and meet new friends. There are generally more career opportunities for those who choose to live in the suburbs.
Should you build or buy?
The two options that you have when you are looking to become a new homeowner include building or buying. You can either purchase a home that has already been built, or you can have a custom home built from the ground up. Keep in mind that it will cost you more money to have a home custom built to your personal liking.
Remodeling
If you are planning on buying an older home and remodeling it, keep in mind, it is considered a project and depending on what all you plan on changing, it can cost you a lot of money in the long run. When remodeling, if you don’t have the experience necessary, you will need to hire a professional to help you.
The Location
Buying a new home isn’t only just about the type of lifestyle that you live, and whether or not you want to build or purchase a home that is already on the market. You also need to take note of the exact location that you plan on moving too. Winnipeg has numerous beautiful spots to live. You need to know more about the area where you plan on moving. Do some online research to determine whether the neighborhood that you plan on moving too is a good neighborhood or if there is a lot of crime. Moving into a good neighborhood will mean that the value of your property will go up. Not only that, but you’ll know that your family and personal belongings are much safer from outsiders.
Get Your Home Inspected
Especially in the case that you are moving to an older home, you will want to make sure that you pay to have the home inspected before buying it, to ensure that the home is safe to live in. Keep in mind that you should expect to pay around $300-$600 to have your home thoroughly inspected. It’s best to do this so that there are no unexpected damages to the home when you move in.
Click here to check out our full guide for first time home owners.