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Learn MoreIf you’re looking to buy or sell a home in the winter, this season poses unique opportunities. Depending on how you look at it, there are benefits and challenges to taking on a mortgage in the off-season.
“For any real estate transaction, I always recommend working with a realtor and an advisor from a financial institution you trust,” says Blake Houston, Personal Banking Advisor at Cambrian.
“At Cambrian, we can help you with everything from getting your pre-approval in place to budgeting for the costs of owning a home.”
As you navigate the housing market during the winter, it’s important to be mindful of your budget and the costs you could face. We’re exploring what those might look like, and how Cambrian can help you with the financial side of things:
What should you watch out for if you’re looking to buy a home after the snow settles?
“Snow can affect the viewing of a home,” says Blake. “For example, let’s say you’re viewing a house, but the roof is covered in snow.”
“That makes it difficult to see what condition the roof is in. The same goes for the yard - snow can mask certain issues.”
If you aren’t able to assess the condition of the home, be prepared for extra costs you could face come spring, from roof repairs to landscaping.
Stand near the doors and windows. Do you feel a cool breeze rolling in?
If so, that’s a sign air is escaping from these points – which leads to higher heating bills and more strain on the furnace. If you’re considering buying this home, factor in the cost of replacing the windows or the door’s weatherstripping.
By installing new doors or windows, you may be eligible for a rebate through Efficiency MB – check out their website offer to find out if you qualify.
One of the biggest costs homeowners in Winnipeg face are furnace repairs and replacements. Find out how old the heating system is in the house you’re viewing so that you can anticipate maintenance or replacement costs in the coming years.
To lower the cost of this work, find out if you could qualify for a heating system rebate through Efficiency MB.
When buying a house, it’s best to know what you’re getting into before you make a purchase. Have these conversations with your realtor and your Cambrian Advisor to make an informed decision.
“From a financial perspective, one of the benefits of buying a house during the winter is that typically, there are fewer buyers to compete with,” says Blake. “People aren’t always willing to move during the winter.”
“This gives buyers an advantage: the seller may be more incentivized to accept a lower offer, since it’s not the peak time in the market. You may have room to negotiate the price.”
“However, we’re in a unique spot in the market right now, so that isn’t always the case. There are so many different factors that affect the housing market!”
“That’s why it’s so important to work with a realtor and financial institution you trust.”
If you’re trying to navigate the market as a seller, you may be worried about unexpected costs. Here are a few expenses to prepare for if you’re listing your house after the snow falls:
By working with a Cambrian Advisor, you can get the advice you need to navigate these costs.
“Buying or selling a house can be stressful, especially if you feel like you don’t have all the information you need,” says Blake.
“Working with a Cambrian Advisor can take some of that stress away. We can give advice to help you make an informed decision and anticipate what to expect moving forward - from securing your mortgage pre-approval, to getting the keys, to doing your first mortgage renewal.”
“When you have someone to help you plan, budget, and save, it can greatly reduce your stress in this process.”
Whether you’re selling your current home or buying your first one, we can help you manage your finances along the way.
“When you work with a Cambrian Advisor, we’re also looking at ways to save you money in other areas, whether that’s through your daily banking, loans, or credit card. We want to put you in the best financial position possible going into your new home,” says Blake.
“If you’re downsizing your home, we can connect you with a Financial Advisor to advise you about how to manage and potentially invest those excess funds as well.”
At Cambrian, we’re here to help you simplify the purchase or sale of your next home. To get started, book a meeting with a Cambrian Advisor today!
We would be happy to discuss your unique situation with you.
Our goal is to make complex topics like this one, simple.
It takes less than 5 minutes to make an appointment or to apply online. It is up to you how you want to meet your advisor - you will have the option to meet your advisor:
