Winnipeg Properties for Sale: Choosing Between Wants and Needs

If one of your New Year’s resolutions is to buy a new home, you may find yourself trying to compromise between your wants and needs. With the Canadian real estate market showing signs of opportunity in the latter half of the year, eager buyers are getting ready to capitalize on this potential. The process of buying a home is an exciting one! However, before you make any decisions it is important to differentiate between your wants and needs. This will help you narrow your search and ensure that you end up with a property that you love! Continue reading below to learn more about wants vs. needs when buying Winnipeg properties for sale. 

What do Buyers Need From Winnipeg Properties for Sale?

Homebuyers in Winnipeg have several non-negotiable needs when it comes to purchasing a house. For example, location. Regardless of whether you’ve purchased a property before, it is likely that you’ve heard of the importance of location for real estate. Where your future home is situated will greatly impact the way that you live and how much you sell your home for. Finding a property that is close to your daily needs like work, school, transit, and other essential services is usually at the top of a buyer’s list of priorities. 

Another important item that buyers need when purchasing a home, is a price tag that suits their budget. With the current cost of living in Canada, this is of great importance. Determining a realistic budget that considers the down payment, closing costs, moving costs, and monthly mortgage payments is critical. By following a strict budget buyers can avoid stretching their finances too thin. 

Additionally, the way that a property is laid out, its type, and size are also key factors on a buyer’s list of needs. Before purchasing a house, buyers should figure out whether they want a condo, townhome or single-family home. They should also have an estimate of the size and layout they are looking for. This will make it easier to find potential properties and work with an agent. 

When compiling a list of needs, buyers in Winnipeg should keep functional utilities at the top of their list. Making sure that your future home has working plumbing, electrical, sewage, heating and cooling is all essential. This is especially important for those who are looking to move into their home right away, without making any major renovations. 

What do Buyers Want? 

Once you’ve nailed down your list of needs, you can start to think about some of the nice-to-have items you might want. For instance, smart home technology for added comfort. Many present-day homes have smart technology that can simplify daily tasks, keep your family safe, and save you money. 

Other wants that buyers may consider, include, updated kitchens and bathrooms. A new kitchen is a luxury that many homebuyers would love to have in their home. This can mean energy-efficient appliances, modern finishes, and lots of storage space. Similarly, an updated bathroom with elegant fixtures, a soaking tub and a separate shower can provide a spa-like feel without needing to leave home. 

Since the onslaught and exit of the pandemic, buyers have been spending more time at home. Because of this, many homeowners find themselves wanting more space for storage, entertaining and working. Things like walk-in closets, mud rooms and crawl spaces are all popular wants for the modern homebuyer. Moreover, a finished basement or bonus room to create space for a home office or gym is also becoming popular. 

Finally, if zoned correctly, some buyers are starting to look for additional dwelling units (ADUs) to help with the cost of living. Whether it’s an in-law suite, carriage home or laneway unit, buyers are eager to find properties with these extra spaces. An ADU can help homeowners pay for their mortgage, support a family member or make some extra cash!

Contact us Today!

If you’re planning on buying Winnipeg properties for sale in 2024, it’s important to determine your wants and needs!  As your agents, we are committed to providing you with the best service possible. If you have any other questions about wants Vs. needs when buying a home, contact us today! We’d be happy to help support you through your real estate journey. Please feel free to reach out with any additional questions or concerns. Be sure to check out our social media for the latest updates and more. We look forward to working with you in the near future!