What Millennials Should Know About Buying a Home in Winnipeg

Anyone below the age of 35 knows that buying a house in a major Canadian city can be a major challenge. The hefty price tags of real estate in the big cities tend to prevent millennials from owning homes.

If you’re willing to move elsewhere, though, there’s a good chance that you’ll be able to bag one of the homes for sale in Winnipeg. The Peg has one of the friendliest real estate markets in the country even if prices are on the rise. This makes it the perfect time to buy a home here.

Aside from the relatively low prices of homes, why should you move to Winnipeg? Here are a few good reasons that might help convince you:

Millennials can own a house in the Peg.

As mentioned above, one of the biggest reasons to move to this city is its affordable real estate. You can own a house here in your 20s, which is next to impossible in other major cities.

Properties here are averaging at about $313,994. It’s practically only a fraction of the cost of what you can possibly find in Toronto or Vancouver. This alone makes a solid case for those who want to have enough space for their growing family.

The cost of living is affordable.

Just like the local real estate, the cost of living in the Peg is also very affordable.

It’s not too different from a big city, except for the slower pace of life.

Aside from the stores not opening until noon on Sundays, you can still enjoy the conveniences of living in a big city in Winnipeg. There are lots of fun things to do around the city all year long so you can definitely keep yourself occupied and entertained. Even in the cold months, you’ll still get to find exciting outdoor activities to keep the winter blues at bay.

The food is great, the nightlife is good, and there are lots of ways how to enjoy culture. Socializing shouldn’t be a problem; too, as there are tons of different events that you can meet new people.

The job market is good.

With only a 5% unemployment rate, Winnipeg can also promise a steady source of income for its residents. Manitoba actually has the lowest unemployment rates in Canada, so you don’t have to worry about finding work if you want to move here.

While various industries flourish in the area, its biggest economic players are in the fields of manufacturing, aerospace, ICT, agribusiness, and transportation.

It’s also a great place for businesses.

The Financial Times dubbed Winnipeg as one of the best places to do business in Canada. This is a great honor as it can draw more entrepreneurs and local ventures to the area. It can also usher in an economic upturn, which can be reason enough for lots of people to move there. So if you’re an entrepreneur, you might want to find yourself in the middle of this flurry.

It’s a great place to live in.

MoneySense also hailed Winnipeg to be one of the best places to live in. As their survey includes various factors that affect a person’s quality of life, their research can be very helpful for you to choose where to move. Combined with the points mentioned on this list and you can make a good call on whether moving to the Peg is the right decision for you.

If you’re planning on moving to the Peg, though, it’s best to do it soon. The rising prices of real estate is a good sign that the supply is dwindling while the demand rises. So if you want to snatch one up at a very low price, decide right away and make the move.