That’s right, live a million dollar plus lifestyle for less than half that amount! Sounds hard to believe, but it’s true. This once in a lifetime opportunity results from the owners of Rivergrove Estates deciding to release the last (and best) river/golf course view lot in their 81-lot development. Similar river lots in Winnipeg, without a golf course view and without services, have recently sold in the $650,000 range. Add in a gorgeous golf course view and a full complement of city services, and you would likely be looking at around $750,000 for the property alone. Include a new 1672 square foot bungalow, with an oversized double garage (22’ x 32’), and it’s easy to see a capital investment of well over a million dollars, with property taxes exceeding $1,000 per month.

So how do we get the number under $500,000 and make the lifestyle affordable? It’s all because of the unique ownership structure at Rivergrove Estates, Manitoba’s premiere manufactured home park. In our 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 high-end resort properties in the southern U.S.

So, instead of investing $750,000 to purchase the land, you pay rent of $700.00 per month for the use of the land. That rental rate also 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 $7,000). Secondly, and for the same reason, you don’t pay property taxes (easily over $1,000 per month). And lastly, you get a tax credit for the monthly rent you pay for your lot.

The stunning open concept home, with amazing views of both the golf course and the river, has arrived, but it’s not fully set up yet. When it is, we expect a very high level of interest. We’re currently working on the oversized attached two car garage, multiple decks, and full landscaping, but if you want to avoid potential competition, you might want to consider viewing the home before the work is completed.

To receive a detailed information package, or to arrange a viewing, call/text Tom Creighton at 204-229-1775, or email [email protected].

RIVERGROVE ESTATES
CITY CONVENIENT! COUNTRY QUIET!