Real Estate & Homes for Sale in Manitoba, Canada
New or old property?
In addition to the obvious pros and cons in the form of more expensive / cheaper, there are a few more points that it would not hurt to know about in advance when choosing housing. First, it is home appliances. Very often in Manitoba, pre-owned homes are sold with appliances that have been used there before. This is convenient when there is no extra money when buying a house, but then, over time, you can buy both the stove of your dreams and change the refrigerator. And in the case of buying a new house, the cost of household appliances must be added to all related expenses, and the amount is not small: + $ 1000 for each piece of equipment.
Secondly, there will be a significant difference in the surrounding landscape. Old houses already stand in the shade of trees, and at their doorsteps a green sea of trimmed lawn splashes. But when you buy a new house, you find yourself ... in the desert, where even the neighbors have no trees, and the lawn will still need to be sown, which also turns out to be expensive.
Additional costs when buying property in Manitoba:
1. Mortgage insurance - First of all, you need to understand that the bank will not give you a mortgage (mortgage) for 100% of the value of the house. When buying a home, you must make a down payment of at least 5% of its value. If your deposit does not exceed 20% of the price of the property, you will be required to purchase mortgage insurance. The amount of insurance is from 1.75% to 2.75% of the cost of housing. This amount does not need to be paid immediately. The cost of insurance is added to the amount of the mortgage and is paid over the life of the mortgage.
2. Tax on the re-registration of real estate (Land Transfer Tax) - Another mandatory tax. It is also calculated depending on the cost of housing. To calculate the cost of housing under $200,000, refer to the table on the website of the government of Manitoba https://www.gov.mb.ca. For properties over $200,000, the calculation is simple: $1,720 for the first $200,000 plus 2% of the balance. Let's take the example of a $350,000 home. For the first $200,000 we pay $1720. And now we calculate the balance: $350,000 - $200,000 = $150,000. Now we take 2% of $150,000 and get $3,000. Total $1,720 + $3,000 = $4,720. Unlike mortgage insurance, the transfer tax cannot be added to the total amount of the mortgage and must be paid immediately at the time of purchase.
3. Payment for the services of a lawyer - A real estate purchase transaction must be drawn up by a lawyer. Here it should be clearly understood that the lawyer works separately from the realtor: the realtor concludes a deal, the lawyer draws it up. The interests of the seller of real estate are represented by the seller's lawyer, respectively, your interests as a buyer will be represented by your lawyer. You only pay for your lawyer. There is no single rate that lawyers work for, so you yourself must find out how much re-registration services will cost you. A small detail - office and postage costs are always added to the price of a lawyer, about $ 100 plus tax, so do not be surprised when you are asked to pay a little more than you were told at the beginning. Speaking very, very approximately, then the services of a lawyer will cost you somewhere in the region of $ 1,000
4. Property Tax - You also need to understand that when you purchase a home, you will have to pay the city property tax. The amount is calculated for the period from the date of purchase of housing until the end of the calendar year. All information about how much to pay and what payment options are available, you can find out on your own from the municipality.
Types of properties in Manitoba:
1. Bungalow. This is a detached one-story house. Such a house is stretched on the site, therefore it has a large basement (basement), which has a much larger area than in ordinary houses.
2. Bungalow condo. Same thing, only every month you will have to pay "maintanence fee". You will not need to remove snow, mow grass or the like. All this will be done for you depending on what services are included in the contract.
3. Two-story house - Detached and Semi detached
4. Townhouse. This is a cross between a house and a condo. Outwardly, they are very similar to houses, but they have one or two adjacent walls with neighbors, a separate entrance and a separate plot.
5. Apartment in a multi-storey building (condo). Here you will definitely need to pay a condo fee. Condo fee is a monthly payment that goes towards maintaining an apartment building in order. Usually there is a partnership of tenants that collects this money and then disposes of it.
5 Best Cities in Manitoba to Live in
Looking for the best places to live in Manitoba, Canada? You have definitely come to the right place. The Canadian province of Manitoba is distinguished by its natural beauty, friendly people, and very clean and safe cities. In addition, Manitoba boasts one of the strongest and most stable economies in Canada. Thus, life in Manitoba is relatively affordable. Similarly, there are many prospects for education, SMEs and career advancement in the province. In addition, more than 200 languages are identified in the province, which is why life in Manitoba is very diverse and interesting. Similarly, Manitoba is known for its high levels of free public health and education. The list below contains the top 5 cities in Manitoba, Canada:
1. Winnipeg - As of 2021, the provincial capital of Winnipeg ranks as one of the most populous cities in Manitoba, with a population of approximately 705,244, and therefore the seventh largest in Canada. The provincial capital is located at the confluence of the Assiniboine and Red rivers; no more than 110 km north of the international border between Canada and the United States. As stated earlier, Winnipeg is also the capital of the province of Manitoba. The city takes its name from nearby Lake Winnipeg. The city of Winnipeg is a transportation hub with a highly diversified economy, especially in manufacturing, commerce, and healthcare. The city is one of Canada's most popular tourist destinations and is ranked #1 in Manitoba's top 5 cities. Winnipeg has a stable economy, a good healthcare system, a good educational system, and a very friendly environment. It is home to several professional hockey and baseball teams. Similarly, Winnipeg is a great city that provides its residents with job opportunities as well as various education options. The cost of living in Winnipeg is quite low, making it one of the cheapest cities to live in Canada. Similarly, the city has the largest number of live music performances; Thus, this is the place where music lovers turn to. In addition, the city hosts numerous cultural festivals, including: the Winnipeg Folk Festival, Festival du voyageur, Folklore, and the Winnipeg Jazz Festival.
2. Brandon - Brandon is in second place in the list of the most populous cities in Manitoba, therefore, it is ranked second in the top five cities in Manitoba. As of year 5, the population of this city is 48,859 2016 people. Meanwhile, the city of Brandon sits on the banks of the Assiniboine River, about 214 kilometers west of Winnipeg. Brandon is popular as a regional hive of trade and commerce, so its economy is mainly dependent on agriculture, food processing, education, transportation, and healthcare. It is colloquially referred to as "Wheat City" due to its rich agricultural culture and thriving farming community. The result is a low crime rate estimated at 9,731 per 100,000 people, a stable economy, and an unemployment rate below 100,000%. Similarly, Brandon remains a free community with a very good quality of life standard. The public schools in Brandon are operated by the Brandon School Branch; The province provides its residents with quality education. The cost of living in Brandon is quite low, with cheap housing and low tax rates, renting a two-bedroom apartment is around CAD$853. In addition, the city has rich cultural and recreational activities to provide its residents with a quality life, including several festivals that take place annually, including the Brandon Jazz Festival, the Brandon Arts Festival, and the Brandon Folk Music Festival.
3. Steinbach - The city of Steinbach ranks third on the list of the most populous cities in Manitoba. As of 15,829 the population of Steinbach was 2016 58 people. Steinbach is also Manitoba's third largest city by area. The city is located XNUMX km southeast of the provincial capital of Winnipeg. Historically, the first settlers of the city of Steinbach were Mennonites from Russia, who arrived in 1874, however, a significant part of the Mennonites still live in the city. Due to its location near the eastern edge of the Canadian Prairies, the city's economy has continued to develop around agriculture, although numerous commercial and service businesses also exist. Recently, Steinbach's population size has increased as a result of the influx of large numbers of immigrants, which has contributed to the growth of its population. Known for its Mennonite heritage village, Steinbach is one of Manitoba's emerging cities with a variety of vibrant businesses emerging to complement the local economy. In addition, Steinbach is the economic center of southeastern Manitoba and a regional trading hive. Steinbach is cheap to live in and boasts favorable conditions. tax rates and affordable for markets. The city has a thriving job market thanks to a vibrant local economy and employment opportunities in the agricultural, manufacturing and processing sectors. The unemployment rate here is very low, only 5.5%. Likewise, several entertainment venues are open to residents and tourists, ranging from art to sports and lifestyle events.
4. Thompson - The city of Thompson is located on the banks of the Burntwood River in the northern region of Manitoba. With a population of 13,678, the city ranks as the fourth best city in Manitoba and is also the sixth largest city in the province by area. The city of Thompson was originally founded as a mining town in 1956; however, it is now a distribution center for goods and services to nearby communities. Similarly, the city of Thompson is located in the boreal forest region of Manitoba; Consequently, it offers a range of outdoor activities for nature lovers. Also, due to its northern location, it is very common to see the Northern Lights from inside the city. The city of Thompson is the largest city in the northern region of Manitoba. Thompson is home to many nature lovers. With over 11,789 residents, Thompson has proven to be a safe and cheap city to live in. The main industries in Thompson are nickel mining and processing. In addition, other major employers in Thompson are Calm Air, Manitoba Hydro, and Vale Ltd. The city of Thompson has a variety of recreational and entertainment options; for example, a trip to the Heritage Museum of the North and Pisyu waterfall. In addition, living in Thompson is very cheap, with a two-bedroom apartment costing less than 1 Canadian dollars per month.
5. Winkler - Winkler has a population of 14,193 as of the 2016 census, making Winkler a small city located in southern Manitoba and bordering the rural town of Stanley. Winkler is a regional trading center serving over 65 families. It is the largest city in the Pembina Valley and is also the 12th largest city in Manitoba. However, it ranks fifth on the list of the 10 best cities in Manitoba. The main employers in this city are industry, healthcare and education. The unemployment rate in the city remains at 4%. Similarly, it has one of the most productive and diversified agricultural sectors in Manitoba. Every year in August, the city hosts a festival and harvest exhibition. In addition, there are no private schools in Winkler; however, there are four primary schools and two secondary schools.