55-plus housing options in Winnipeg

On the surface, Winnipeg doesn’t sound like much of a 55-plus magnet.

The winters are long, there are floods (but not most years) and those Manitoba mosquitos are legendary. Plus that, we’re in gardening zone 3 and it’s certainly flat here (actually, the city landfill is the biggest hill we've got). So from everything you may have heard, Winnipeg might not seem like the retirement destination of your dreams.

BUT look a little further and you will find winters ARE manageable and often enjoyable (there are strategies for this and Winnipeg's theatre/concert/arts & culture scene is legendary), flood areas can be avoided, mosquitos repelled, lots of veg and flowers thrive here, even roses, and flat can be beautiful.

The fact is Winnipeg has a lot to recommend it as a retirement 55-plus haven!

I want to change your mindset about Winnipeg (as mine did) from cold, wet, flat, mosquitos, gee, no thanks to affordable, accessible, lifestyle, opportunity—WOW!

By the way, if you’re looking for a way to retire sooner or you’re already retired and have knowledge or experience that would be interesting to others, I can’t say enough about SBI.

It’s allowed me to share my passion for Winnipeg. This website is a fun part-time interest that I can do from home – or anywhere when we travel - and it earns money. Click here for my background story about this site. I hope it helps you.

Buying a house

Winnipeg is a good deal, especially now, when interest rates still remain relatively low (though it looks like they'll be easing up in 2010 to 2011).

Chances are (unless you are moving from a rural setting or very small town) you will get a lot more house in Winnipeg for your money than you are expecting to get. Or pay a lot less for your next home here.

The average house price in Winnipeg is $253,000 (that figure has been puffed up a bit by million-dollar-plus mansions). You can still find good and much more moderately-priced options (800 to 1600 sq. ft., in an appealing leafy neighbourhood) for $150,000 to $240,000 or so.

Popular 55-plus option -- Buy a condo!

When our son moved on to his adult life and we could no longer manage the upkeep of our huge corner lot AND all the reno our older home needed (and, let's face it, we really didn't feel like doing it, either), I wanted to downsize to a more manageable bungalow. My husband (who loathes yardwork but is pretty much allergic to every kind of home handymanery – he’s no Red Green) wanted the more carefree lifestyle you get when you rent, which we did for a while.

Now we’ve come to a better compromise between renting and owning – we bought a condo. In exchange for the monthly fee, someone else cuts the grass, shovels the driveway, paints the trim, checks the roof for any leaks, repairs the steps when they need it, inspects the chimney and the fire alarm system annually…all that and more tedious stuff we just don’t want to bother (struggle) with.

But we still get the benefits of ownership, including the growing equity and, major to me, the knowledge that we OWN our home (well, we own a pretty good chunk of it and the bank owns the rest). It’s ours, to live in as we wish to (there are condo rules, but they are mostly just common sense and courtesy for neighbours, nothing onerous with the exception of the regrettable No Dogs rule).

There are condos (many former apartments, as ours is) throughout the city. Among their amenities can be: good location in established neighbourhoods with mature trees and nearby schools; outdoor or indoor pools and fitness facilities; other common areas including club rooms and guest accommodation, city water included, a price break on cable/internet fees and proximity to shopping, your own entrance, community (shared) gardens, and nearby parks, public pools, walking trails, bicycle paths, libraries and community centres.

Prices range from around $100,000 (for a bachelor/one-bedroom) to well over $500,000 for the newest luxury condos on Waterfront Drive (in The Exchange District). For an average two-bedroom in the suburbs of around 1,000 sq. ft. the current range is about $120,000 to $180,000, with monthly condo fees averaging around $250.

55-plus Winnipeg condo choices:

What is Life-lease?

Life-lease is another 55-plus option gaining in popularity. Similar to owning a condo, but with both higher cost and more benefits.

Like condo ownership, you make a downpayment, you own your suite, there are common areas that are shared, and you can sell your life-lease for market value, which usually increases, or chose to include it in your estate.

The differences are in the benefits that come with life-lease ownership, which can include meals in a dining room or delivered; laundry and housekeeping services; activities such as shopping trips and fitness classes; in-house libraries, games rooms, hobby clubs, beauty salons and other services, medical staff and care-givers of various expertise who make house calls. Some people choose life-lease so that they can live in a community of people of similar ages and interests; others like the extra security and the turn-key peace of mind when they want to travel.

Another reason for choosing life-lease when your are 55-plus is they can offer an increasing level of care, if you (or your partner or spouse) ever need it in future, while supporting the highest level of independent living. It could mean not being forced to move (or, worse, having your kids move you against your wishes) to a ‘care facility’ at some future date, should that be necessary due to health or mobility issues.

55-plus Life-lease buildings usually offer more 'lifestyle' features than standard apartments or most condos (the exception is luxury condos), such as working fireplaces, levers rather than knobs on doors and taps, central vac, grab bars in the bathroom, enhanced security and other conveniences.

Another bonus is that some life-lease managers allow pets, recognizing the health advantages.

55-plus Life-leases in Winnipeg with current availability:

Rent a home or apartment in Winnipeg

The average price for a two-bedroom apartment in Winnipeg with one parking space is $725, including water and hydro.

The same apartment would be about $135,000 to $150,000 if sold as a condo, with a monthly maintenance fee of around $235 to $250.

Relatively few homes are available for rent in Winnipeg. If you are able to find one, expect to pay in the $850 to $1,300 per month range for an average two- or three-bedroom house in a family neighbourhood.

55-Plus apartments in Winnipeg

There are several high-rise apartments or apartment complexes in Winnipeg that are 55-plus. Usually they are on or very close to main thoroughfares (such as Portage Avenue West, Pembina Highway, Henderson Highway, Bishop Grandon Blvd.) and near shopping, hospitals and public transit.

The advantages are they are convenient, quiet and your neighbours are similar to you in age and (so the thinking goes) interests (but check this before you commit).

Here’s a sampler of what’s available:

55-plus living with rural views

Prefer a country view? I have found two places that offer just that: