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Winnipeg condos -- plenty of choice and the living is easy!
The prime selling feature for Winnipeg condos (or condos anywhere) has always been turn-key convenience.
As former owners of both detached homes and condos, we found that you don’t need to be lazy to enjoy the condo lifestyle, but it helps.
And it is amazing how much 'free time' you suddenly find you have if you switch from home-ownership to condo living.
Is a condo right for you? Take this easy quiz to find out
At one time, Winnipeg condos were marketed primarily to seniors, but no longer.
In the ‘affordable’ range (sometimes called "starter homes," which in Winnipeg is considered to be under $200,000, the largest number of condo buyers are singles who are young professionals, still in their 20s.
Winnipeg condos also appeal to people who the marketers call "empty-nesters" (still working, kids flown), people who are newly single or career-focused, youthful seniors or anyone who simply doesn’t want to have to do all the routine exterior maintenance a detached house requires.
Taxes tend to be lower for Winnipeg condos than for single-family homes, they tend to be cheaper to heat in winter and cool in summer (many of the new Winnipeg condos have appealing Green features), and many of those tiresome chores of home ownership are taken care of (such as lawn mowing, roof and sidewalk repair, and driveway shoveling). Less homework, more time to enjoy life.
There are trade-offs for all this convenience and extra leisure time. Bedrooms and kitchens are usually small (except beyond the $300,000 range), parking may be an issue (it could be included in the condo fee or it might be an extra), you will rarely find eat-in kitchens or dining rooms large enough to actually put a dining room table into (again, less true above $300,000) and you may be limited to an ‘apartment sized’ couch in the living room and your king-sized bed might not fit in the master.
You will be closer to neighbours than if you live in a detached home, and pets are rarely allowed (officially. A lot of condo associations, the owners’ group of volunteers who manage condo affairs, look the other way, more or less, when pets are small, well-socialized and don't bother the neighbours).
Not all real estate agents are licensed to sell or are knowledgeable about Winnipeg condo purchasing requirements (a bit more complex than buying a detached house, though your lawyer will be able to walk you through the process).
All real estate lawyers are qualified to arrange a condo sale.
Homes and condos often sell over list price in Winnipeg, and it is not unusual for a desirable property to sell for as much as 20% over asking price. For new homes, you will pay GST, which doesn’t apply to re-sale homes.
Some (more) things to know about Winnipeg condos
It’s really easy to get swept away by a well-presented condo, particularly if it is a show suite designed to press all your buttons.
Look at that gorgeous hardwood! And the huge walk-in closet! And it’s got a working fireplace! And love those granite countertops, the glossy appliances, the sweeping city views, all that extra storage space, the master ensuite, the décor, and on it goes. You're ready to move right in. But be strong. You have to resist at least long enough to find out:
How much are the condo fees and exactly what is included? Condo fees usually cover city water, garbage and recycling collection, snow removal and grass-cutting/landscaping and care of common areas and may also include basic cable, heat/hydro, parking, occasional use of a guest suite, fitness club, use of a pool or tennis courts or other nice-to-have benefits. Condo fees usually don't include power (hydro and gas) and do not include either your homeowners' insurance or taxes.
How much soundproofing is there? Is the structure concrete (good) or wood (found in older low-rises and not so good).
How much are taxes on this unit? Expect in the neighbourhood of $60 to $100 per $100,000 of City of Winnipeg-assessed value (generally much lower than the market value, but this too has been changing in recent years as properties are re-assessed by a City that needs to update aging infrastructure).
How large is the condo reserve fund? The condo reserve fund is used to pay for repairs to common areas, such as the roof, parking lot, club house and pool or other amenities on the property shared by unitholders; expenses that are considered and usually voted on by owner-members, with the majority ruling.
You (actually, your lawyer) will receive detailed condo information from the seller (usually referred to as "the condo papers") and she or he will be taking a close look at the financials it includes. An established condo association should have a healthy balance in the reserve fund. If you are investing in a conversion or new construction condo, the developer should be putting a set amount per unit sold into the new reserve fund.
When were those major repairs done – are any looming in the forseeable future? A friend of ours found this out in a painful way a few years after moving into his condo, which initially he enjoyed. Then he got a bill for just over $1,000 in the mail. This came as a shock (he’d skipped going to the annual condo meeting) and didn’t know that each unit’s share of the cost to rip out and replace all the sidewalks circling the complex was about equal to the cost of his winter ski trip. He thought sidewalks were supplied by the City. Wrong assumption. He had to pay but, soured on condo ownership, he put the ski trip on his cards and his unit on the market. Now he lives in an
apartment.
What tasks are performed as part of the condo fees? This might include annual chimney, roof and fire-alarm inspections, exterior painting, periodic parking lot repairs/resurfacing, weekly grass cutting in summer, landscaping (such as removal of a dead tree), spring and fall clean-up of common areas, pool maintenance (if there is one) and similar chores.
Winnipeg condos -- what you pay and what you get in 2012
Condos tend to sell fast – this is what is available among new Winnipeg condos in 2012 to give you an idea of what’s out there.
Until fairly recently it was still possible to find a small, modest condo downtown for less than $100,000 - but no longer.
And in the under $150,000 budget range, they have become scarce.
If you are looking for a re-sale condo, expect to pay from about $179,000 to $275,000 for a one- or two-bedroom with one parking stall, with monthly condo fees averaging about $300 (this usually includes basic cable, water, landscaping and snow removal but not hydro).
New Winnipeg Condos Under $200,000
This is considered to be the 'affordable' category, where you will likely have relatively few choices in new construction and relatively few options in a re-sale condo, which is more likely to be in the suburbs and have either one or two bedrooms.
Condos in this price bracket with three bedrooms have become a rare find in Winnipeg.
East Shore Gardens
This is that rare thing in Winnipeg, condos where you can have pets and with one- two- or three-bedroom options, starting at $139,900.
River views, close to walking trails, balconies or patios, fireplaces, appliances included.
At 1700 – 1766 Henderson highway. The show suite is 101 at 1760 Henderson Highway and is open weekend afternoons.
71 Roslyn Road
Popular Osborne Village attracts an eclectic mix of city-dwellers including seniors, students and people who work downtown, or who enjoy being able to enjoy its leafy streets yet walk to restaurants, shops, and the grocery store easily or downtown in about 10 minutes.
And here’s an affordable yet luxury-living option – new condos with one or two bedrooms, urban-cool finishes, river and city views and starting at $149,900.
Open for viewing every afternoon except Friday and Monday; Tuesdays, Wednesdays and Thursdays until 7 p.m. Info: 290-8922.
The Legend at Creek Bend
The third phase of this luxury condo complex has one-bedroom condos that sell at just under $200,000, plus GST. There are also two- and two – bedroom plus den floorplans.
All have heated parking, fitness facility, and guest suites available.
Show suite is open by appointment or 1 to 4 p.m. Saturday, Sunday, Monday and Wednesday or Thursday 4 p.m. to 7 p.m.
Info: 996-9525.
Element Condos
Six floor plans with one bedroom, bedroom plus den or two bedrooms, staring at $163,900 including GST.
Large balconies, granite, kitchen appliances included, laminate floors.
Show suite is at 102 Sherbrook between Subway and Stella’s, open weekend afternoons, Tuesday afternoon and Thursday evening.
Info: 295-9067.
New Winnipeg Condos Under $300,000
In this price range you can find suburban condos with one or two (or two + den) condos with heated parking included.
Bridgewater Forest Condominiums
These are apartment-style condos at 25 Bridgeland Drive and townhouse condos at 15 Bridgeland Drive, with prices starting at $250,000.
Show suite is open weekends noon to 5 p.m. and Monday to Thursday 3 p.m. to 7 p.m.
Info: 989-6900.
Oak Terrace Condominiums
Starting at $221,900 including GST, these condos have maple island kitchens, stainless appliances, a common room. All are two-bedroom.
Show suite is at 701 St. Anne’s Rd. and is open Wednesday evening and weekend afternoons.
Info: 989-7938.
Oxbow on the Seine
The second phase is now under construction for summer 2013 occupancy at Oxbow on the Seine just north of the Perimeter off St. Anne’s Road.
There will be 79 condos ranging from 795 sq. ft. to 1,432 sq . ft. with high ceilings, and high-end finishes – granite countertops, hardwood floors, pantries and big balconies.
There’s also a fitness centre, common room, heated parking and these condos have been built with a host of eco-friendly features.
Prices are $213,500 to $405,500, including GST, with condo fees at $164 to $293.
Info: 999-4363.
The Sands Condominiums
One- and two-bedroom condos at 680 Mathias (at Sinclair) include large balconies, indoor parking and kitchen appliances starting at $244,500.
Info: 295-9087.
Verve Tache Condominiums
Downtown and river views from St. Boniface – private balconies, heated parking – priced from $249,743.
Info: 793-1000.
Sky Condos
Downtown condos with rooftop terrace, fitness centre, starting at $221,500.
Show suite is at 340 Waterfront Drive.
Info: 770-6455.
Winnipeg Condos Under $400,000
Royalwood Square Condominiums
These are two- and three-bedroom townhouse condos with some nice amenities including fireplaces, double garages and decks starting at $324,900.
The showhome is at 455 Shorehill Drive and is open weekends 1:30 to 4:30 p.m.
Info: 985-4300.
Royalwood Estates Condominiums
Phase 1 has opened with two- and three-bedroom townhouses starting at $324,900.
For that you get fireplaces, decks, patios, and double attached garages.
Info: 985-4300.
Stonecrest
The final phase has opened for this development, with exercise room, games room, guest site and residents’ lounge, starting at $303,688.
Info: 793-1000.
1810 River Heights Landings
Phase 2 townhouse condos, either two- or three-bedroom, with a choice of finishes at 1810 Corydon Avenue, starting at $315,000.
Show suite is unit 13, open Sundays 1 to 4 p.m. or by appointment.
Info: 989-6900.
Luxury Winnipeg condos (such as this one on Waterfront Drive in the Exchange District) come with higher condo fees and taxes, but also such luxuries as more space, bigger windows, and sweeping city and/or river views with a downtown location.
Common areas will also have more to offer, often including
a fitness centre (possibly with a pool and hot tub), heated parking (this matters in Winnipeg), and superior fittings and finishes.
Pritchard Farms - Southland Village
Arlt Homes is offering a raised bungalow open-concept condo with luxury aster suite, two additional bedrooms, and media room for $571,333, land (but not tax) included.
Info: 669-3394.
Winnipeg condos -- $1 million plus
Until just a few years ago, you couldn’t find a home in Winnipeg with an asking price that topped one million but that, too, has changed with real estate prices continuing to go up.
Unlike elsewhere, prices have risen in the past decade, after years of stagnation, and there is no indication that Winnipeg has a housing bubble.
Compared to other Canadian cities, houses here, including condos, remain bargain-priced.
So, if ultra luxury is what you are looking for, the city offers some (but not a lot) of choice in million-dollar-plus new and re-sale homes.
This includes Winnipeg condos in the one-million-plus range.
If this is your budget, you are likely to find that what's available isn't advertised - but there are Winnipeg Real Estate agents who specialize in selling upscale condos (see their ads in the Friday and Saturday Homes section of the Winnipeg Free Press) who know what's coming on the market.
Or, you could decide to design your dream home and have it custom-built.
A suitable serviced lot in or near the city will cost about $80,000 to $150,000 plus, depending on location and how far you wish to be from the neighbours.
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