Top 5 Reasons to Buy a House in 2013

With all the recent talk about debt, stricter mortgage rules and changing interest rates, you may be wondering if buying a home this year is the right thing to do.  Having reservations is normal; after all it is probably the biggest investment that you will ever make.  It can be especially overwhelming if you are a first-time home buyer.  Here are some reasons to show you that the time may be right for you to make the move to home owner:

 #1 Positive Outlook - According to Canada Mortgage and Housing Corporation (CMHC), the housing market in Winnipeg is primed for growth in 2011.  In a recent Housing Outlook Conference held in Winnipeg, it was stressed that there was a positive outlook for Manitoba and Winnipeg due to the combination of continued population growth and an expanding economy.  CMHC's senior market analyst for Manitoba, Dianne Himeault, stated that Winnipeg is "one of the most exciting housing markets in Canada right now."

#2 Stable Mortgage Market - Manitoba reportedly has one of the lowest ratios of arrears to total mortgage debt in Canada.  Lai Sing Louie, CMHC's regional economist, says that shows that "the mortgage market here is in pretty good shape and won't be a drag on the housing market down the road."

#3 Increased Supply - Rising house prices are expected to provide extra incentive to those homeowners who are looking to make the move to a larger home.  This will result in increasing supply to the market.  Demand is to remain "robust" as listings climb slowly.

#4 Opportunities - Continued economic recovery in the province combined with increases in employment and earnings will maintain an increase in new house construction.

#5 Hey - it's just a great place! - Manitoba basks in over 2,300 hours of sunshine per year, we continue to hold claim to the title of "Slurpee Capital of the World" and the bear who inspired Winnie the Pooh was named after our capital city!  What other reasons do you need?

Thinking of purchasing a home?  Speak to one of our mortgage brokers and get pre-approved today!