The Greenhouse
by Pine

What a first time home buyer in Manitoba should know

In the vast ocean of homeownership, these resources act as your guiding stars, ensuring you sail smoothly.

Navigating Manitoba's housing market as a first-timer.

Stepping into the world of homeownership? First and foremost, congratulations! There's a unique thrill to purchasing that first home, especially in Manitoba’s evolving landscape. But let's face it: diving into the real estate market, particularly for the first time home buyer, can be a tad overwhelming. But fret not! Just like embarking on any new adventure, the key is having the right knowledge and a sprinkle of confidence.

If you've found yourself here, you're on the right track. Consider this your friendly neighbourhood guide, packed with all the insights you'll need. Our goal? To empower you with the information and tools required to navigate Manitoba's housing market, from understanding your down payment options to factoring in the total cost of your home buying journey. By the end, you'll not only have a clearer understanding of the home buying journey but also the confidence to make that dream purchase. Let's begin this exciting journey together!

Incentives for a first time home buyer in Manitoba

Government assistance programs for first time home buyers

Considering a first time home buyer incentive in Manitoba may seem daunting. However, rest assured that there's a plethora of resources and housing rebates available to guide, educate, and support you throughout this journey.

Home Buyers' Plan (HBP)

The Home Buyers' Plan is a program at the national level that permits you to extract up to $35,000 from your Registered Retirement Savings Plan (RRSP) for the purpose of acquiring or constructing an eligible house. If you are making the purchase jointly with a partner, who is also stepping into homeownership for the first time, they too can take out up to $35,000 from their RRSP. This sums up to a combined potential of $70,000. It's crucial to remember that these amounts should be restored to the RRSP within a span of 15 years.

First Time Home Buyer Incentive

This initiative, backed by the Canadian government, is a shared equity mortgage scheme. It provides either 5% or 10% of the property's sale price to assist with the initial payment, effectively decreasing the burden of the mortgage and facilitating a more economical pathway to owning a home. However, it's important to note that the borrowed percentage based on the house's value needs to be settled either upon selling the residence or within a 25-year timeframe.

Provincial programs and incentives

Manitoba offers various programs and incentives tailored for first time home buyers, aiming to make homeownership more accessible for those looking for a newly constructed home or and existing home. Some of these include:

Home buyers tax credit:

Think of this as a financial pat on the back from the province. This non-refundable tax credit helps offset some of the costs associated with buying a home, like legal fees and land transfer taxes. When tax season rolls around, you can claim this credit, which can provide some relief after all the initial expenses of buying a home.

Manitoba land transfer tax exemption:

The act of simply changing the home's ownership from the seller to you, the buyer, comes with its own set of fees, known as land transfer taxes. For first time home buyers in Manitoba, there's a silver lining. This exemption can save you a substantial amount, which, depending on the value of your home, could mean thousands of dollars staying in your pocket.

Down payment loan program:

Even with a steady income, saving for a down payment can be daunting. This program is a beacon for those who might need that extra push. Offering loans specifically to help cover the down payment, it’s designed to make entering the housing market a smoother process. The terms are often more favourable than what you might find with traditional loans, making it a popular choice for first time home buyers.

As you explore these options, it's essential to ensure you meet the eligibility requirements. These can vary based on income, the price of the property, and even how long you've lived in Manitoba. And remember, policies and programs might change over time, so always refer to official provincial resources or consult with a real estate professional for the most current information.

Financial preparation

Before you dive into house hunting, understanding your financial landscape is crucial in order to prepare for each monthly mortgage payment. It's like setting the foundation before building a house. Here are some vital aspects to consider:

1. Budgeting

While we all have dreams of the perfect home, it's essential to know what you can afford. Remember to factor in not just the property price but also additional costs like property taxes, utilities, and potential homeowner association fees. Using online mortgage calculators can give you a ballpark figure to start with for what your monthly mortgage payments might look like.

2. The importance of pre-approval for mortgages

Getting pre-approved for a mortgage can be a game-changer. It not only gives you a clearer picture of what you can afford but also puts you in a strong position when negotiating with sellers. Most financial institutions in Manitoba offer this service, but be sure to shop around to choose the best mortgage lender for your personal needs.

3. First time home buyer incentive in Manitoba

Good news! Manitoba offers several incentives for first time homebuyers, which can significantly reduce your costs. One notable program is the First-Time Home Buyer Tax Credit. It's worth researching and taking advantage of these programs.

4. Understanding mortgage insurance

If your down payment is less than 20% of the property price, you'll likely need mortgage insurance. This insurance protects lenders in case a borrower defaults. While it's an additional cost, it allows buyers to enter the market with a smaller down payment.

Preparing your finances isn't just about crunching numbers. It's about aligning your dream home aspirations with your current financial situation, and leveraging available tools and programs to get the best deal. Remember, a solid financial foundation makes the home buying process smoother and less stressful.

Home inspection and due diligence

You've got your finances in order, and you've zeroed in on a location. Great! Now, before making an offer, it's paramount to ensure the property you're considering is in good shape and free of any hidden surprises. Here's why home inspection and due diligence should be at the top of your checklist:

Why is a home inspection essential? 

A home is a significant investment, and the last thing you want is unforeseen issues cropping up after you've sealed the deal. A professional home inspection can reveal potential problems, from structural issues to faulty wiring or plumbing. Think of it as a safety net that can save you from expensive repairs in the long run.

Common issues in Manitoba homes:

In Manitoba, the distinct climate presents unique challenges for homeowners. It's essential to be particularly attentive to certain aspects of a home given the region's weather patterns. Basements, for instance, should be carefully examined for signs of water damage, cracks, and proper insulation. With the cold temperatures Manitoba is known for, a well-insulated basement can be a significant advantage, providing both comfort and savings on heating bills. Similarly, the roof and attic demand close inspection to ensure they are in good condition and have adequate insulation—this is crucial for withstanding the snowy Manitoba winters. Additionally, investing in high-quality, energy-efficient windows can greatly benefit homeowners in this region. Such windows not only enhance the home's overall energy efficiency but also play a pivotal role in keeping the cold out and maintaining indoor warmth.

How do I choose a reputable home inspector?

Not all home inspectors are created equal. Look for someone with a solid reputation, preferably with reviews or recommendations from previous clients. They should also be members of professional organizations, which often have standards that their members must adhere to.

What if issues are found?

It's not uncommon for inspections to reveal problems. If they do, don't panic! You can renegotiate with the seller to either fix the issues before the sale or adjust the price so you can handle them yourself.

It is important to think of due diligence as your homework before the big test. By being thorough, you're not only ensuring a smoother buying process but also peace of mind once you move into your new home. After all, it's not just a house; it's where you'll build a life. Making sure it's in top shape is just the smart thing to do.

Teaming up with the right professionals

As you embark on your home-buying journey, surrounding yourself with a knowledgeable and supportive team can make all the difference. After all, even the most seasoned players need a good coach! Here's a guide to choosing the right professionals:

Real estate agents

A competent real estate agent is an invaluable asset during the home-buying process. They bring expertise on market dynamics, assist in negotiating deals, and offer insights that might escape an untrained eye. When choosing an agent, prioritize those familiar with the regions you're eyeing. Personal recommendations and reviews can guide your decision. A strong trust-based relationship and open communication are key. Their primary roles include shortlisting suitable properties, coordinating viewings, and managing the necessary documentation.

Mortgage brokers

While directly approaching banks is an option, a mortgage broker offers a panoramic view of available mortgage deals. The primary advantage of working with them is their ability to pinpoint competitive rates that resonate with your financial circumstances. To select the right broker, lean on recommendations and ensure they are licensed, with a firm grasp of the Manitoba housing market.


Navigating legal intricacies demands the expertise of a professional. A lawyer specializing in real estate will handle tasks such as property transfers, tax implications, and verifying the property's legal standing. When choosing one, verify their credentials and, if possible, arrange a face-to-face meeting to assess compatibility.

Home inspectors

As highlighted earlier, home inspectors are instrumental in detecting potential hidden issues in a property. Their in-depth inspection can potentially save you significant expenses in the long run. Prioritize inspectors with recognized certifications and positive reviews. Their detailed reports become an essential component in your decision-making, helping you understand home inspection costs and implications.

While purchasing a home is undeniably personal, it's a journey better taken with a team. Assembling a cadre of seasoned professionals transforms this endeavour from potentially overwhelming to a well-orchestrated, enjoyable experience, especially for first-time buyers. Each member of your team contributes uniquely, ensuring you make an informed decision that benefits your future.

While buying a home is a personal journey, it's not one you have to make alone. Surrounding yourself with experienced professionals can transform this journey from a daunting task into a guided, more enjoyable process for first time home buyers. Think of it as building your home-buying dream team – each player brings something unique to the table, ensuring you make the best decision for your future.

Navigating the closing process

Congratulations! You've found your potential dream home. But before you can turn the key in the door, there's the closing process to navigate. While it may seem like a whirlwind of paperwork and legal jargon, understanding the steps can make it manageable and even rewarding. Let's dive in:

1. Understanding the offer

Once you've chosen a home, you'll make an offer, which, if accepted, becomes a binding agreement. Ensure you're comfortable with the terms, including the price, any conditions (like a successful home inspection), and the closing date.

2. Finalizing the mortgage

If you're like most people, you'll need a mortgage. Now's the time to finalize it with your bank or mortgage broker. They'll want to see the signed offer, verify details about the property, and might request updated financial information.

3. Lawyer's role

Your lawyer (or notary) now steps in to handle the legal details. They'll check for liens on the property, ensure property taxes are up to date, and coordinate with the seller's lawyer to finalize the transfer of ownership.

4. Closing costs

Be prepared for some additional costs on top of the property price:

  • Land transfer tax: This is a tax levied by the province on any property transfer. The exact amount can vary.
  • Legal fees: This covers your lawyer's services.
  • Home insurance: Before granting a mortgage, your bank will require proof of home insurance.
  • Adjustments: If the seller has prepaid property taxes or utility bills for a period after the closing date, you'll need to reimburse them.

5. Final walkthrough

Before closing, you usually have the chance for a final walkthrough. This is to ensure the property is in the agreed-upon condition and that no unexpected issues have arisen.

6. The big day

On the closing day, your lawyer will finalize the property transfer. They'll ensure funds get to the seller, and in return, you'll receive the deed and keys to your new home.

The closing process is the final stretch in your home-buying journey. While it involves many moving parts, remember that each step is bringing you closer to your new home. With the right professionals by your side and a clear understanding of the process, you'll navigate this phase with confidence, ready to start your new chapter in your chosen property.

Settling in: A checklist for making your new house a home

Unpacking strategy:

  • Start with the essentials: bedroom, bathroom, kitchen.
  • Once the core spaces are sorted, move to the other rooms.

Immediate fixes:

  • Go back to your home inspection list.
  • Address the urgent concerns first, like leaks or electrical issues.

Personal touches:

  • Consider a fresh paint job in your favourite shades.
  • Play around with furniture arrangements until it feels right.
  • Hang photos, place artwork, and set out personal mementos.

Neighbourhood exploration:

  • Take some time to find local shops, parks, and cafes.
  • Make an effort to meet and introduce yourself to your neighbours.

Safety checks:

  • Make sure all smoke and carbon monoxide detectors work.
  • Think about changing the locks for an extra layer of security.
  • Familiarize yourself with the main water and electrical shutoffs.

Dream and plan:

  • Think about the future of your home: maybe a garden or a new patio?
  • Start a wish list or create an inspiration board for ideas.

Celebrate your new space:

  • Consider hosting a housewarming event.
  • It's a great way to share your new space with friends and family.

In every step you take, remember that you're not just setting up a house—you're creating a home. Whether you're looking for a newly constructed home or an existing home, every touch, every change, makes it more yours.

Maintaining and growing your home's value

Owning a home is more than just a milestone; it's an ongoing commitment to preserving and optimizing its value over time. With fluctuating real estate markets, understanding how to maintain and enhance your home's value is crucial, whether you're a first-time homeowner or a seasoned property investor. Dive into this comprehensive guide to better home value:

Regular maintenance

Much like the importance of regular health check-ups, a home thrives on consistent maintenance. Tackling minor repairs promptly can save you from facing major, costly damages in the long run. Essential tasks like cleaning gutters, conducting routine roof inspections, checking on plumbing, and vigilant pest control can prolong the lifespan of your home. Remember, a well-maintained home is often perceived as a valuable asset in the real estate market.

Upgrades and renovations

Home improvements can significantly boost your property's worth, especially when they align with current home design trends. Kitchen and bathroom remodels are renowned for providing a substantial return on investment. Expanding living spaces, like adding a sun deck or transforming a basement into a functional room, can also attract potential buyers when it's time to sell.

Energy efficiency

Energy-efficient homes are the future, not just for the environment but also for savvy homeowners seeking to cut utility costs. Investing in good insulation, opting for energy-efficient appliances, and embracing renewable energy options, like solar panels, can make your home more marketable and desirable to eco-conscious buyers.


Never underestimate the power of a well-maintained garden or yard when it comes to elevating your home's curb appeal. Planting native species can be a sustainable choice as they typically require less maintenance and water. Features like a thematic garden, patio spaces, or even a simple water feature can turn your outdoor area into a relaxing haven and a selling point.

Stay updated on the market

In today's dynamic real estate landscape, it pays to be informed. Regularly monitoring property values in your vicinity can give you a clear picture of your home's potential selling price and help you stay ahead of market trends. Insights into homebuyer preferences can further guide your renovation choices, ensuring they align with demand.

Build a good relationship with your neighbours

In the world of real estate, a friendly community can indeed add intangible value to your property. Neighbours who look out for each other can enhance the safety quotient of the area, making it more appealing to potential buyers. Engaging in community events and local neighbourhood groups can foster these relationships.

Your home is a sanctuary, a financial asset, and a reflection of your life choices. With strategic improvements and regular maintenance, you not only enhance its aesthetic appeal but also its market value. A well-cared-for home not only offers comfort but can also be a lucrative asset in the competitive real estate market.

Navigating home finances: a comprehensive guide

Owning a home goes beyond bricks and mortar; it's also about informed financial decisions. This guide aims to give you a comprehensive outlook.

Mortgage payments: the backbone of homeownership

Your mortgage is a foundational aspect of homeownership, encapsulating your loan's monthly dues, total amount, interest rate, and its term duration, typically 15 or 30 years. Automating payments can ensure punctuality, enhancing your credit score. If financial challenges arise, maintaining open communication with your lender can help explore relief options such as refinancing.

Property taxes: investing in your community

Property taxes, paid to your local government, contribute to community projects like schools or road developments. Given their occasional heftiness, it's wise to set aside a specific amount monthly, ensuring you're financially prepared when bills arrive.

Insurance: safeguarding your property

Your home insurance policy's intricacies, from coverage against natural calamities to theft, are essential knowledge. As circumstances change, so should your coverage, prompting the need for an annual review and, if necessary, shopping around for better rates.

Utility bills: the recurring essentials

Keeping a keen eye on regular utilities, such as water, electricity, and gas, facilitates accurate monthly budgeting. Adopting energy-efficient solutions, like LED lighting or smart thermostats, can pave the way for long-term savings.

Emergency fund: preparedness is key

An emergency fund acts as a financial cushion, safeguarding against unexpected home-related costs. For robust financial health, this fund should ideally cover three to six months of home expenses.

Planning for big projects: when dreams take shape

Large-scale home projects demand meticulous planning. Acquiring detailed cost estimates and setting clear savings targets is crucial. For those considering external financing, such as home equity loans, a comprehensive understanding of the terms is indispensable.

Staying informed: understanding home value and equity

Keeping abreast of your home's market value provides insights, especially if you're contemplating selling or refinancing. Moreover, as you make regular mortgage payments, you incrementally build equity, a valuable asset that, when used wisely, can be financially beneficial.

Home finance isn't solely about timely payments; it's about understanding, planning, and adapting. With a clear roadmap, you can ensure your home remains a sanctuary, not a source of stress.

Taking the first step in Manitoba's housing market

Embarking on the path to homeownership, especially as a first time home buyer, can seem like navigating a maze. Each turn presents its own set of challenges and decisions. But remember, every homeowner before you felt the same mix of excitement, anxiety, and anticipation. And just like them, with the right knowledge and resources, you'll find your way.

Manitoba, with its rich history, diverse communities, and unique blend of urban and rural landscapes, is an ideal place to lay down roots. The provincial programs, coupled with a network of seasoned professionals and comprehensive resources, are there to support you at every step.

At the end of the day, buying a home is more than just a transaction; it's a journey. One filled with lessons, experiences, and memories. And while it might have its ups and downs, the joy of holding your own set of keys, the pride of having a space that reflects you, and the comfort of creating a sanctuary for you and your loved ones make it all worth it.

As you step into this new chapter, armed with the insights and tools we've discussed, remember to embrace both the challenges and the triumphs. After all, every brick, every wall, and every corner of your new home will soon echo with stories of your journey. Here's to new beginnings in Manitoba!

Question? We've got answers.

What’s involved in getting a mortgage from Pine?

Does Pine charge any lender fees?

Will I have a point of contact at Pine?

Is my data secure with Pine?

How much of a down payment does Pine require?