Want to buy a house!?

Question

I live in Winnipeg, MB
My boyfriend and I are looking to buy a home in October. We will have a little bit for a down payment. Together we only make around 42639.96 a year. We were going to rent a house, but it seems more worth it to try to purchase one. Are there any suggestions, we are both first time buyers and want to go about this the right way! We want to prepare so when it is closer to October we will know what we have to do for our search. Also, does anyone know anything about rent to own? Thanks, any information and/or suggestions are much appreciated!
Additional Details

4 minutes ago
Oh, also someone told me we would need a joint bank account to put our credit together to get a mortgage, is this true? I have good credit and my boyfriend has NO credit, he has never had a credit card or anything. He is applying for a credit card soon so that he can build up some credit.

Answer 1

I would make sure that your relationship is on solid ground before you buy a house. You also need to make sure that you buy a house in a good school district and/or area. Location is a very important factor when buying a house because it effects how well your investment will do in the years to come. It would also be smart to hire a reputable and certified home inspector that will advise you properly on the home's condition. Do not rush into a house purchase. It is important to do your homework first.

Answer 2

If he has no credit you gotta get it in your name gotta have at least 10-15 % down and no i woulnt get him no credit card probably a reason he hasent got one. Mortgage rates are high so you wont have any trouble getting a Bank to give you one

Answer 3

I suggest you contact a local realtor, and the sooner the better. Realtors will do everything in their power to see to it that you get what you want when you are ready.

You want to meet a mortgage broker through your realtor for directions on strengthening your credit.

Follow their advice for they will only earn money when you close on your first home and you won't pay them anything.

Answer 4

"to construct a house or a lodge, the participant could desire to possess all properties in a colour group. progression could desire to be uniform in the process a monopoly, such that a 2d abode can't be equipped on one materials in a monopoly till the others have one abode." I have been on condition that from Wikipedia. I actual have performed this activity on the grounds that i replaced right into slightly newborn, and that i've got performed diverse strategies with diverse people. in specific circumstances we performed like your mom is describing. different circumstances we'd purchase regardless of we could handle to pay for, yet you are able to't positioned a 2d abode on a materials except all the different properties have one abode already on it (like Wikipedia says). desire this helps.