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 surprisingly expensive, 700 or 800 square foot, one bedroom apartment or condominium. With kids, grandkids and a lifetime of accumulated memories, a small space like that simply doesn’t work. What could work is this very affordable home in Winnipeg’s most exclusive Manufactured Home Park.

What makes this home so affordable is our unique ownership structure. 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 many high-end resort properties in the U.S.

So, instead of investing more than $100,000 to purchase the land, 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 $250-$300 per month). And lastly, you get a tax credit for a portion of the monthly rent you pay for your lot.

In 2023, this home was gutted to the studs and totally rebuilt, with new roofing, new central air conditioning, all new drywall, new lighting, new vinyl plank flooring, new windows and doors, new kitchen cabinets/counters, seven new appliances, a new bathroom and fresh paint throughout. The home features an open concept living room/dining room/kitchen area, and can be used as either a 3 bedroom, or a 2 bedroom plus den/office/flex room.


To arrange a private viewing, or to receive a detailed information package, call/text Tom Creighton at 204-229-1775, or email FBB@MTS.NET.

RIVERGROVE ESTATES
CITY CONVENIENT! COUNTRY QUI