Winnipeg Mortgage Brokers - Forgotten Questions to Ask When Buying a Home

It is only natural to be thinking about the size of the kitchen, the number of bedrooms, or about nearby schools when talking to your realtor about a potential new home. No doubt you have a long "wish list" of features that you would like to see in a house and it is easy to get caught up in the excitement of viewing it. We have put together some questions that tend to get overlooked or forgotten by house hunters... These questions are important to ask as they could affect purchasing timelines and some, possibly even the cost or mortgage approval:

  1. Why are the sellers moving or why is this house for sale? Why ask this question? It could offer some insights that will assist you when writing your offer. Have they simply outgrown the size of the house or is someone getting transferred? Or could it be the noise from the railway tracks nearby?
  2. What is their timeline for selling? If the seller is hoping to move quickly, you can work with your realtor to plan an offer accordingly. Remember though, most real estate offers are subject to "Condition of Financing". This is to protect you, the buyer, as it gives you time to confirm with your mortgage broker that you are able to meet all of the financing requirements requested by the lender. In Winnipeg, this is generally 3 days, but the timing of these three days can be affected by weekends, appraisals and lender turnaround times. This is why it is SO incredibly important to meet with a mortgage broker BEFORE you start seriously viewing houses to make sure you are thoroughly Pre-Approved!
  3. Are there any issues with the home? Is there a seller's disclosure? It is important to know about any issues, no matter how small, as they could cause problems and additional costs later on. Knowing this information will help you make a more informed purchasing decision.
  4. When was the roof/electrical etc. last updated? This will give you an idea of what, if any, upgrades will be necessary and what associated costs could be involved.
  5. Has this home been tested for radon? Radon gas can enter a home through cracks in the foundation and walls. It is an odourless gas that can reach levels that pose health risks.
  6. Has this home ever had a mold inspection? If yes, reviewing the documentation may provide you with important details about the home's history such as constant water in the basement or even a previous Grow Op.
  7. What are the neighbours like? What is the noise level in the neighbourhood? Questions like these will help you ascertain if the area is the right fit for you?
  8. Are there children or dogs in the neighbourhood? Depending on your personal preferences, this will either be a positive or a negative feature.

So, don't forget to add these questions to your list for the next open house you visit!

Remember, before you go home shopping you should be pre-approves! For a free, no obligation consultation to discuss your mortgage pre-approval options, please contact one of our experienced Winnipeg Mortgage Brokers by phone at 204-954-7620 or by email at