Based on the competitive nature of the real estate market all over the country, but specifically in Manitoba, it’s important to keep an open mind when you’re walking through a home because a lot of folks will discount the house and not offer on it if it needs a little "lipstick and hairspray," as we say.

The Purchase Plus Improvements program is available from all three mortgage insurers. Basically, it allows you to purchase a home that might need some renovation work and incorporates the costs into the mortgage up front, rather than having to get a separate loan or line of credit later on.

When you’re out shopping, you may find the perfect home on the perfect street with a great layout that just has a very old kitchen or old flooring. The home may need some basic renovations to make it your dream home. So, if you’re not afraid of a little elbow grease or if you’re willing to go hire a contractor to do that type of work for you, it can be an excellent opportunity to take a lot of the competition out of the offer market on that particular home. Looking past the total condition of the house right now and considering its future potential, we can incorporate your renovation costs at the outset.

Virtually anything that you do to the home that will improve the value of the house can be included under the Purchase Plus Improvements program. Some common examples would be kitchen and bath renovations, a new roof, a new furnace, or a new air conditioner. It could be landscaping, a fence, or a deck – literally anything that increases the value of the home. (Except for furniture and appliances.)