Many Winnipeg homeowners face the same question when it's time to move: “Should I sell my current home first, or buy my new one first?” Balancing both can feel stressful, but with the right plan and the right guidance, it can actually be a seamless experience. Whether you're upgrading to a brand-new build or downsizing from your current property, here's a simple guide to help you make smart, confident moves. Step 1: Understand Your Financial Position Before making any decisions, speak with your mortgage advisor or bank to determine how much you can qualify for while still owning your current home. You'll generally have three main options: Bridge Financing – a short-term loan that lets you purchase your new home before your current one sells. Home Equity Line of Credit (HELOC) – use equity from your existing home as the down payment for your next purchase. Conditional Offer – make your offer to buy subject to the sale of your current property for fin...
Buying your first home in Canada while on a work permit might seem impossible - but it's absolutely allowed and thousands of newcomers are doing it every year. Whether you're in Winnipeg or anywhere else in Canada, you can purchase property even if you don't have permanent residency yet. As a real estate professional who has helped many work-permit clients become homeowners, I’ll walk you through exactly what you can buy, what rules apply, how to qualify for a mortgage, and a few real-life tips to make your journey smoother. In this guide, I'll explain exactly what you can buy, what rules apply, how to get a mortgage, and a few insider tips from real experiences helping work-permit clients become homeowners. 1. Can Work Permit Holders Buy a House in Canada? Yes, you can! If you hold a valid work permit and are currently living and working in Canada, you’re legally allowed to buy residential property under the current federal housing rules. Under the Prohibit...