BUYING A HOUSE IN WINNIPEG | TORONTO SE ITNA ZADA SASTA 😲!!! - YouTube

Hello Everyone, how are you all? Here I am with a new video Today.

Today, I'll talk about the house that you can see behind me,

so, I thought I'll give you a house tour and I'll tell you

what's the cost. So, If anyone wants to buy a house in Winnipeg,

I'll give you a house tour and I'll tell you What is the price, how're the houses there,

what are the details and how the house looks from the inside?

I'll inform you of the price and if someone wants to buy the house on EMI,

how much it will cost, and how much of a down payment you will have to give. I'll tell you everything.

It will be a full house tour, and you will be surprised at how much less expensive the properties are here than in Toronto.

So, Today Jaskaran Dhillon is with us & he is in Finance & Real Estate.

So, he'll be showing you the house. Hey guys, how's it going. Today, we'll go inside & take a look

& let's go inside.

So, we'll show you everything, but first, we'll have to put on masks due to the numerous restrictions.

While inside the house, we have to wear masks.

I'll put on the mask, and we'll go inside. Please like the video, subscribe to the channel and let's take a look around the house.

So, this is the entrance.

As you can see, we have to remove our shoes here, there is a wardrobe and a mirror.

The advantage of having a wardrobe is that when we get home during the winter,

and as you can see, there is room for your shoes and jackets because

after a heavy snowfall, Snow remains on your shoes and jackets.

So this is where you should put your jackets and shoes.

So, as we enter the house, this is the living room.

I'd describe it as spacious, and as you can see, this is the living room.

There's the entrance from which we entered, as well as the entire living room.

So, we have Taylor with us who is showing us the house.

Hey everybody, my name is Taylor, I am a Realtor in Winnipeg,

and welcome to 96...

So, he's going to tour us around the house, and my glasses got blurry

because the mask is mandatory and we have Jaskaran Dhillon.

So, we'll see the entire house and as you can see behind me is the living room

in which we also have a kitchen.

As you can see, the countertop is new and it's a 2020 design.

I think it's a new property and nobody has ever lived here, right?

So, yeah it's a new property, a new project and no one has ever lived here.

So, that was the living room, that's the kitchen, and is this the living area as well?

So, it's like a dining area, so, that's the kitchen and there is the dining area.

So, that was our first floor and this is a back entrance for the basement.

Above ground, it's around 1300 sq. feet

So, let's go up but first, let me tell you that

Jaskaran bro is a YouTuber and makes informative videos, I'll put the channel's link in

the description and those who have interest in Finance & Real Estate,

Jaskaran holds the degree from the University of Manitoba, Exactly!

So, I also came here as an International Student

and now I am a Permanent Resident here.

I am specialized in Real Estate & Finance, so, subscribe to my YouTube channel if you want more detailed Real Estate videos.

First, let's check out the basement. Now, basements here are usually unfinished.

You can finalize the basement's work and rent it out.

There is a term called House Hacking. So, tell us what is House Hacking?

So, House Hacking is like...

as Akshit already said, these are newly built houses in 2020

their basements are unfinished

This implies that when you buy the property, you'll have to finish the basement, install flooring, and finish the bathrooms and bedrooms.

So, House Hacking means that, as you can see, this is the upper floor, but we'll also go to the following story, which has bedrooms.

When a family purchases one of these homes, they can move upstairs

and basically, they can live on this main floor as well as upstairs,

and they can rent out the lower floor.

So, basically, it's offsetting your mortgage cost.

So, now that he's stated everything, I don't think there should be any confusion.

But, for example, if I buy this house,

which I will do in the near future

So, after buying what we'll do? We'll live on the upper floor like I am a student

And I live alone; what can I do? I can take two rooms for myself and rent out the basement.

If my mortgage amount is $1000

and if I rent out the basement for $800, then I only have to pay $200,

I directly got $800 from rent for the mortgage.

So, many people make their properties by doing this, so, that It will help them in future.

So, we'll first see the basement.

So, this is the basement's entry and now we have a basement here.

As you can see, it has all the insulation, so

it hasn't been drywalled, so, you can see the vents and everything.

So, if some new owner is willing to buy this house

they'll have to spend at least $15000-25000 to renovate the whole basement

and they can rent it out.

So, it means, it'll cost $15000-20000

which is not enough I guess, because it will be an investment if you want to rent out the basement

As you can see, this is the way to get upstairs, and they've

built a wardrobe so you can put your belongings here,

as well as some storage space.

As you may be aware, there is still space beneath the stairs, so they created a storage area

and provided a half-bathroom.

So, let's move upstairs to see how the bedrooms and upper floor look.

We came up from there, and first, we have a bedroom here.

So, here's one-bedroom as you can see

which is enough for a single person

Mine is a little smaller than this one

So, as you can see this is closet space

and there is some more closet space which is enough for a single person

and also there is a window so,

this room will always be well-lit, and you will not feel claustrophobic in it.

Next, we have one more room here.

So we came in from there, and there was the first room, and this is the second.

This has the same design, closet space, and everything as the first one.

We have a third room here, so...

this is the third room which is the Master Bedroom

which is double in size as those two rooms, as you can see.

This is a walk-in closet and it has a huge window, so...

you may have heard that the master bedroom is quite large.

It has an attached washroom, as I am going to show you, wait...

so, here we have a full-bathroom here.

So, here we have a basin, seat, and a bathtub as well.

So, this is how it looks like as you can see.

So, we have three bedrooms here and the best part is you also have a basement

which you can renovate and rent out and you can make $800 with that as well

which will cover more than half of the mortgage amount, so it will be beneficial.

Now, let's go and check out the next floor

and then we'll talk about its price because the price is very important.

So, as I have already shown you two small rooms with a master bedroom

so, here we have another washroom

You have seen one washroom downstairs, this one is a full bathroom as well

and one full bathroom is attached with the master bedroom as I showed you already.

and one I showed you downstairs, now I'll show you this is also a closet space.

and there is also another closet space.

So, the house is very spacious for a single-family.

So, Jaskaran, if we want to the same house in Toronto, then how much it'll cost?

The same 2020 built house in Toronto will be around 1 Million Dollars

so, in GT Area in Toronto, the same house will cost you 1 Million Dollars.

So, let's ask Jaskaran, what's the price of this house?

So, the base price of this house is $3,65,000

Okay. So the identical house that would cost around a million dollars in Toronto would cost $3,65,000 here.

which is almost 1/3rd of the price in Toronto.

So, if we want to pay $3,65,000, we can do so in cash, which no one does in this town

because the interest rate is very low here, which is around 1.7-1.8% per annum, which is quite great.

So, if we take a house loan for 25 years,

with a 2% interest rate, so how much do we have to pay for a month?

So, every month, you are expected to pay around $1500-1700 and that's

which not only includes mortgage but also includes taxes, etc. So, in $1500-1700/month, you get everything.

But, it will only happen if we pay its 5% down payment. So,

what happens here if the house price is at least $3,50,000, then you have to pay a 5% down payment.

So, 5% down payment including every small payment make around $25000 down payment.

If you have $25000 cash, you can buy this property

and have a mortgage of around $1500-1700/month for 25 years.

So, it's quite wonderful, and I liked the property rates here, even though it's in the south section of Winnipeg, which is a very desirable place.

And it's 2020, newly built and it has a 5 years warranty for new buyers.

So, if you sustain any damage within the next five years, it will be covered under warranty.

I'd like to mention that if you seek properties in north Winnipeg, they will be more affordable.

You might be able to get the property for roughly $3,000 there.

So, you have seen the house and if you want more videos like this, then Jaskaran is with us

Now, we are in contact and as I already mentioned, please subscribe to his channel.

So, that's all. If you want more Real Estate videos like this, then please let me know

we'll bring more videos like this one.

His channel name is Jas Dhillon, I'll put the link of his channel in the description, please check that out.

He will provide you the information about Real Estate and Finance.

So, that's all, if you enjoyed the video then, please Subscribe to the channel, like the video

and press the bell icon for upcoming updates, follow me and Jas on Instagram

Till then, take care, bye-bye guys, have a good one and stay safe.