A Young Guest From Winnipeg!

The housing market in Winnipeg is difficult for me to weigh in on. I only viewed about 8 condominiums in my search, so I would say my understanding is quite narrow regarding the overall housing market in the city. With that being said, Winnipeg has a low cost of living and affordable housing, compared to other cities in Canada. I believe the city is getting better all the time and it is a good place to invest.

Price of my 1 bedroom condominium was just under $150,000. The prices largely depend on how many bedrooms, location, building, and many other factors. I was looking at a price range between $115,000 and $165,000 and there were very good options within my desired area.

Like many young adults, my parents put the idea in my head. I was looking at signing onto a lease at my apartment, (which I shared with two roommates) when my parents recommended I purchase a property instead. I entertained the idea for a couple of weeks until I decided it was just too much trouble for me at this time. I had made my decision, yet I continued looking at condos. I then found one I really liked and things moved very fast after that. When I began to somewhat understand the financials, I was able to grasp the benefits of ownership compared to renting. I am now paying my mortgage (among other expenses) that total approximately what I would be paying if I were to rent an apartment on my own in this area. In total, I was looking at condominiums for about a month before signing a deal, as I said, it all happened very fast!

I used a real estate agent as well as a mortgage broker. Both were incredibly helpful and understanding as I was navigating my first property purchase.

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Congrats, Nicole! We hope this decision will pay off figuratively and literally in the next decade while you can focus on you career amongst other things.