How to Buy a Home That Doesn't Turn into a Pumpkin

October 18, 2022 | Posted by: Ron Chan

It's October, so we're going to keep rolling with the Halloween theme here on our Winnipeg mortgage blog. In our most recent article, we dismissed the misnomer than getting a mortgage is scary, but today we want to address one real fear that you may have - buying a home that ends up being a big fat pumpkin. 

Sure, on the surface (with home-staging) a property may seem like bedazzled carriage for your household, but there could be underlying things turn sour within a few short years. While pre-purchase home-inspections are considered to be the primary line of defense, there are ways a mortgage broker can help you avoid the risk in the first place. How? Let's find out!

How Working with a Mortgage Broker Can Help You Pick a Home That Won't Turn Into a Pumpkin After Moving In

A Broker Will Increase Your Buying Power

When you're working with a significantly limited budget, you assume that you must concede on some key considerations for a place to call home. You may end up in a less desirable neighborhood, far away from your work and other conveniences you desire, and without the yard, layout, and features that you wanted. If so, the table is immediately set to dish out decades of pumpkin-esque experiences on your plate. If only you had more buyer power, right?

Well, a mortgage broker can absolutely increase your buying power. For starters, a broker can connect you to new buyer incentive programs (including credits, rebates, and more) that can effectively reduce your downpayment requirement. Further, a mortgage broker can get you access to lower unadvertised mortgage rates which will reduce your future monthly payment requirements. As a result, you will have an easier time passing Canada's new mortgage stress test. From here, you'll have your pick of the litter when it comes to buying a home, instead of being relegated to the pumpkin patch.

A Broker Works With You, and For You

When you buy a home alone, you're vulnerable to those who hide concerning items within the fine print. You may not realize what sort of agreement you're committing to. You may end up accepting terms and rates that you never would have, if only you had expert advice that considers YOU and not the lenders, insurers, agents, and sellers. To mitigate (and obliterate) this vulnerability, all that you need to do is partner with a mortgage broker. Mortgage brokers are entirely independent and trained professionals who are licensed to represent and provide you with the best advice for your mortgage needs. Moreover, a broker work's tirelessly for YOU, and NOT the banks or any other parties involved in the home buying process. You won't be tricked into any scenario that doesn't put your needs first. As a result, you will end up with the mortgage terms you want, and in the home that you want. 

The only pumpkins you should be concerned about are the ones to place on your porch for all Halloween seasons to come as a proud owner of your dream home. If buying a property in the greater Winnipeg area, contact Ron Chan at 204.290.9950 to get started with a friendly consultation.

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