Winnipeg Real Estate News Letter - January

you will need to get it. An insurance
broker should be able to offer several
options, with different coverage and
costs. As your real estate agent for a
referral here as well. (Note: Home
insurance is NOT the same as
‘mortgage insurance’)
MORTGAGE/LIFE
INSURANCE
The buyer has just made a
significant investment, with
perhaps as much as 95% of it still
owed to the mortgage company.
While, unlike Home
Insurance, mortgage/life insurance is
optional, it is still highly
recommended.
Protect your family and your
investment in case of your untimely
demise. There are significant
differences between mortgage
insurance and life insurance: speak to
a professional about these differences.
Most real estate agents might not
know the difference, but would know
an expert in this field.
Home Buying should be fun
HOME INSPECTOR
If you’re lucky enough NOT to have to
compete against other buyers, you may
be able to demand a home inspection.
(Actually, you can always demand
one….. but speak to your agent about
the reality of being able to get your
offer accepted in such a case). A
qualified home inspector may be able
to detect problems, and prevent you
from buying a ‘money pit’. Home
Inspectors are, unfortunately, a
somewhat unregulated industry.
Nearly anyone with a ladder and a
flashlight can call themselves a home
inspector…. Don’t rely on kijiji or
google to find a good one. Ask your real
estate agent for 2 names and pick one.
MOVING COMPANY
There are a lot of ‘Guys with a Truck’
type of companies out there. Like a lot
of things, you ‘get what you pay
for’. Get a quote in writing, and make
sure it’s not too open-ended.
(Example: $150 per hour, 5 hours
or until the move it completed….??)
If in doubt, check the BBB listings, and
ask for recommendations. Or better
yet, as your real estate agent for a
referral….. chances are, he/she have
used and recommended a good moving
company in the past.
ELECTRICIAN,
RENOVATORS, PAINTERS
Although not technically part of the
buying process, you might end up
needing an electrician to fix knob
and tube wiring, or a renovator to
put in a proper bedroom into the
basement, for example. A good real
estate agent should have a list of
these types of professionals that a
buyer can benefit from.
Expert Tip for home buying
Home buying (or Condo buying) should
be fun….. but always ‘play safe’.
Surround yourself with knowledgable
professionals, and minimize your
exposure to danger. It is perhaps the
largest purchase you will ever make.