MUST SEE OPEN HOUSE SUNDAY 1:00 TO 4:00
113-2695 Main Street
How to downsize your cost, but not your space? That’s a dilemma many baby boomers find themselves facing today. Although you may need the equity from your current home, you shudder at the thought of downsizing to a small one bedroom apartment or condominium, with limited storage. With kids, grandkids and a lifetime of accumulated memories, a small space like that simply doesn’t work.
Instead, consider this unique and very affordable home overlooking the scenic ponds and rolling fairways of Winnipeg’s only Executive Golf Course (where home prices can range up to $500,000). Complete with a large storage building, four appliances, central air conditioning, window coverings and a long list of updates, this absolutely immaculate 2 bedroom home can be purchased for under $200,000, with as little as 5% down, and total monthly payments of approximately $1,300. That’s less than the monthly rent for most new one bedroom apartments in Winnipeg.
What makes this home so affordable is our unique ownership structure. In Winnipeg’s most exclusive manufactured home park, you own your home, but you lease the land the home sits on. This form of ownership structure is used for many of the recreational areas in the province (Falcon Lake, the Whiteshell, Clear Lake, Hecla Island, etc.) as well as for many high-end resort properties in the U.S.
So, instead of investing more than $150,000 to purchase a lot on the golf course, you pay rent of $342.00 per month for the use of the lot. That rental rate falls under the Provincial Rent Control Legislation, so there’s little likelihood of a large increase in the future. This type of ownership structure also brings other substantial benefits with it. Firstly, because you don’t own the land, there is no land transfer tax on the purchase of this home (over $2,000). Secondly, and for the same reason, you don’t pay property taxes (easily $$300 plus per month). And lastly, you get a tax credit for a portion of the monthly rent you pay for your lot.
To arrange a private viewing, or to receive a detailed information package, call/text Tom Creighton at 204-229-1775, or email
[email protected].
RIVERGROVE ESTATES
CITY CONVENIENT! COUNTRY QUIET!
