My #1 Tip for Buying a Home

By: Realtor Scott Moore

The single most important factor when you’re buying a home is the location, location, location.

Here’s why:

1.     Good neighbourhoods will be good investments. You can get lucky with a transitional neighbourhood. If the neighbourhood improves, home value will go up faster than average. But if the neighbourhood gets worse, the value of your home will fall and you will probably end up losing money. Gambling with the family home—and your biggest asset—is a risk that most people don’t want to take.

2.     Moving is expensive and time-consuming. Every year we handle dozens of moves for people that need to move closer to work, school or family. Be as realistic as you can about whether the location works for your family—now, and in the future. I know it's hard to predict what will happen five or ten years from now, but it’s worth trying. Your future self will thank you for avoiding another move down the line!

3.     A rule of thumb in real estate is: it’s better to be the worst house on the best street than the best house on the worst street. Real estate values rise like a water level—your house’s value is linked to the value of the houses around you. Your home’s value will rise faster if the houses around you are better than yours. Buying a house that is below-average also gives you room to improve the home and raise the value.

Looking for more information about buying a home in Winnipeg?

Here are some of our most popular blog posts about buying a home in Winnipeg:

• The Dos and Don’ts of Viewing a Home

• Are You Ready to Upsize Your Home?

• What is the Difference Between a Deposit and a Downpayment?

• How to Be More Decisive as a Real Estate Buyer

• The Impact of Winter on Home Inspections: What Buyers Should Know

Want to keep going? Check out our archive of blog posts to do with buying a home.

Want to get started? Contact us today to start the process of buying a great home in Winnipeg.