People often  purchase real estate without considering all of the aspects that makes a home the right one for them. http://winnipeghomesforsale.net Related Topics Winnipeg Homes for sale Winnipeg Real Estate Winnipeg Realtors

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2. Costs and Considerations when Buying a Winnipeg Home "Home is an invention on which no one has yet improved." - Ann Douglas

3. When people are in the early stages of their search for a home, they often purchase without considering all of the aspects that makes a home the right one for them.

4. Buying a home is a complex and personal progression.

5. The wrong choice can be very costly in numerous ways -

6. You could waste money, lose time and effort relocating, and possibly put your family's health in jeopardy.

7. You should consider the following things when looking to purchase your ideal home.

8. How To Choose a Neighborhood

9. You can always renovate a house but when choosing your neighborhood,

10. It could take years for your neighborhood to change with no guarantee it will change for the best!

11. However, if you really love an area of town but it's not in your price range you might want to contemplate buying a less-than-perfect home and renovating your home.

12. Renovations can be very expensive so you will want to make improvements that will increase the value of your home.

13. Your return on renovations would be as follows: the kitchen 70% bathroom 68% interior painting 65% exterior painting 62%.

14. Tips on choosing a desirable neighborhood:

15. When you find a neighborhood you would consider living in, walk around and see what it's like from street level.

16. Do the people seem friendly?

17. Are there amenities like stores and recreation facilities close by?

18. If you have children, call the local school board.

19. You will want to know if the local schools provide high level of education opportunities?

20. Determine the amount you can afford to pay for a home:

21. Consider how much your monthly costs are now and how much you have leftover every month.

22. People tend to create budgets which are not realistic – so what ever you calculate you have left over, divide that in two.

23. Consider these basic costs of buying a new home:

24. Your going to require a down payment of at least 5% of the cost of the home.

25. Monthly mortgage payments should not be more than 1/3 of your annual net income.

26. When making an offer on a home, you may want to have a home inspection done.

27. This will cost you approximately $250. Ask the inspector to specifically check for asbestos, radon, animal infestation, lead, knob and tube wiring, the roof and especially inspect the foundation for major cracks and leaks.

28. What are your moving costs going to be?

29. This can be couple hundred to several thousand dollars.

30. You are going to need house insurance as well.

31. Financing Your Home

32. The sort of home you can afford depends on several things:

33. How much do you have saved for a down payment?

34. How much is your combined annual income?

35. You will need your pay stubs, tax assessment, if self employed you will need two years of assessments and returns.

36. Your credit rating could make or break your dreams.

37. Go online to Equfax and Transunion and request your credit bureau. You can get a free report once a year.

38. Find out where you stand credit wise. You don’t want any surprises.

39. The past has a way of catching up to you as a new homebuyers.

40. Make sure your payments on loans and credit cards are made on time.

41. A few late payments can adversely affect your credit score.

42. A bad credit score can effect your ability to get a mortgage or a lower interest rate on your mortgage.

43. Getting pre-Qualifed Is Important

44. Pre-qualification will give you the confidence to start looking for a Winnipeg home to purchase.

45. The bank or mortgage broker will do the basic checks and calculations to see if how much house you can afford based on the information they get from you.

46. Make sure you give them all the information and that it is accurate.

47. When they do the final approval and they find out that you were not accurate about your debts, etc you could be refused a mortgage by that lender.

48. And if you are dealing solely with a bank unfortunately you will have to start the process all over again with another bank.

49. This one of the many reasons why using a mortgage broker has it's advantages.

50. If you are refused by one lender they have 10 more they can apply to and you don't have to start over with the paper work.

51. By taking care of these points before you start to look at houses, you can be confident and go about the process of finding your ideal Winnipeg home!

52. And you will find that the Winnipeg Real Estate market is a great place to invest in a home.

53. http://winnipeghomesforsale.net