When searching for a new home, many buyers will focus only on the list price and what they may need to offer to get the property. For example, a buyer might think, “We can get this house for $XX. That’s within our price range!”

Of course, the selling price plays the pivotal role in whether or not you can afford a particular home. But, carrying costs should also be considered.

Carrying costs include any regular expenses related to the property. The obvious ones are gas, hydro, water, garbage, and taxes. But there may be others. For example, a home may also have a subscription-based alarm system, high-speed internet, and hot water tank rental.

If you're buying a condominium, there are commen element fees to take into account.

It’s also smart to factor in predicted maintenance and repair costs, especially when buying an older home. A property that hasn’t had its asphalt roof shingles replaced in 20 years may be due soon.

In Manitoba, land transfer tax (LTT) can add thousands to the cost of purchasing.

So, when shopping for a new home, consider what the carrying costs will be. That will help you make a more informed decision.

That being said, having to pay a little more in monthly costs may be worth it if you love the place and it (as well as the neighbourhood) has everything you want.

Contact me today to find out how much you should budget in regards to carrying costs when purchasing your new home!

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Imagine you want to take the “trip of a lifetime” this fall. Would you leave it until the summer to start planning, booking dates, and generally getting ready?

Probably not. A trip like that is a big deal. You’d want to start making arrangements now, so by the time you’re ready to go to the airport, everything will be set for you and your family to have a great time.

The same is true when selling your home. If you intend on listing your property in the spring or summer, now is the time to start making plans.

Starting the process early in the year gives you four significant advantages:

1. Ample time to prepare your home. Starting now gives you time to declutter your property, get needed repairs done, and otherwise make your home ready to be seen by buyers.

2. Less stress. Unless you enjoy scrambling to get things done within a tight timeline, you want to give yourself as much time as possible to prepare for your home sale without the stress of a tight timeline. Starting early gives you that.

3. Listing date flexibility. Starting now means you’ll likely get your property prepared for the sale early in the year. Sure, your plan might be to list in the summer. But, if the market changes or some other opportunity presents itself, you’ll be able to list sooner. Your home will be ready.

4. More time to find your next home. If you’ll also be looking for a new home, starting the process now will give you more time to explore neighbourhoods, get financing arranged, and determine the ideal type of home for you.

As you can see, it pays to start the process now, even if you won’t be selling until summer or fall.  Contact me today to get the process started!

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