Info and Tips for Buyers and Sellers of Real Estate
Info and Tips for Buyers and Sellers of Real Estate
Info and Tips for Buyers and Sellers of Real Estate
Articles about condominium living, buying and selling. Anything condo related.
Taking a look at a great condo conversion at 180 Beliveau Rd. Tower 180 Condos is an apartment block that was converted into condominiums in 2014 by A&S Homes. Concrete building, 1 and 2 BR condos, many with underground parking and reasonable condo fees.
I think you’ll agree that selling your home (in any market) means you have options and some difficult choices to make. In a seller’s market, you may only want to take offers from those who are serious about following through on it.
Home Buyers in Winnipeg deserve to have their own agent. If you’re about to invest hundreds of thousands of dollars in a house or condo, you should be working with an Accredited Buyer Rep who will help you find and get a great home
Speaking out for those who can not speak for themselves is what D’Arcy’s Animal Rescue Centre is all about. 5) Buy your pet supplies and food from D’Arcy’s store A well-stocked store, which is about to expand even more, means that you’ll find all the best pet foods, toys and other supplies right at D’Arcy’s A.R.C. And of course, all the profits go right back into feeding, treating and caring for our furry four-legged friends.
Located on Royal Mint Dr. in Southland Park, you can find the Lake Park Estates Condominiums. A set of 16 condos in 8 buildings, built by Randall Homes, these are 2-storey side-by-side units.
Built by Randall Homes in 2004, the condo project is comprised of 8 buildings, each containing 2 condos (side-by-side). Each unit is 1753 sq feet (top 2 levels), plus the basement. Units feature 3 BR’s, 2.5 baths (plus any additionals bedrooms or baths added in the basement). Units feature double attached garages, large front drives and east-facing decks, looking towards the man-made lake.
Just the usual condo-restrictions, such as “No Laundry to be hung from the balcony” etc. Pets are allowed, so long as they don’t pose a nuisance to other owners. As is common with these types of condos, the building of fences and outbuildings, such as tool sheds, is NOT permitted.
Gross Property Taxes are currently at $4,700 per year. Of course, as an owner who actually lives in their unit, you would qualify for the Provincial Home Owners Assistance Rebate, similar to when you own a house.>
Condo fees are currently at $275.00 per month. This includes professional management, snow clearing, grass cutting and contribution to a common reserve fund.
All units have their own insuite laundry room, and attached double garages. Added parking is on the driveways.
There is no common elements room, fitness room or anything of the type. This project backs onto a park, and has view of a lake beyond that.
Located near Fermor Ave and Lagimodiere Blvd, across from the Royal Canadian Mint, this condo is located in Southland Park; Limited (rush hour) bus service is provided.
During the 2 yr period of 2018-2019, condos at Lake Park Estates have sold for bet. $365,000 and $410,000 approximately (MLS® stats)
If you are looking for a condo in Winnipeg, whether an apartment, townhouse or stand-alone units, call Bo Kauffmann at 204-333-2202
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Linden Woods and the adjoining Linden Ridge are upscale neighbourhoods in the southwest of Winnipeg. They contain several thousand homes, …
Ashdown Warehouse Condominiums were built in Winnipeg bet. 1895 and 1911. 106 Condos, exposed brick, loft-style, high ceilings, 900-1700 sq ft.
Spotlight on: Cambridge South Condos Located approx. 1 block from he Pan Am Pool, you’ll find Cambridge South condos at …
I wrote about Winnipeg Land Titles office, and the reason why there is usually a 3 to 4 week delay between the date-of-possession for a home, and the date-of-receiving money for the sale. A while back, I sat down with a nice couple who were writing an offer on a house, and the conversation turned to the ‘Closing Costs’ (which includes the land titles transfer tax) of the purchase. The conversation went something like this:.
Mr. Buyer: So aside from the lawyers fees (which we had already discussed), what other costs will I need to budget for?
Bo: Well, there will be home insurance. Good news is that you won’t have to pay any property taxes, because we’re doing this in January. But of course you have to budget for the Land Titles Transfer Tax.
Mr Buyer: A tax? Just for changing the title of the house? How much is THAT going to cost?
I did a quick mental calculation, and gave him the cost, and then watched as his face went thru the classical 5 stages of grief, from Denial (“This Can’t Be Right), to Anger ((F*#@ing Govm’t), Bargaining (Isn’t there a way around this), Depression (Oh, Man…..that’s alot of dough) to finally Acceptance (Well, It IS a nice house and there is NO WAY around it, short of leaving our province). So just how much is the government raking in with this tax?
While Manitoba is not the only province to impose this tax, it is by far the most aggressive and onerous. Thru a set of formulas, we arrive at a figure of $1720 for a $200,000-house or condo. With Winnipeg’s average house price hovering around the $230,000 mark, we can see that our Provincial Government is collecting approx. $2000 in taxes, EVERY TIME the title of a house is transferred. But wait, you say…. didn’t Bo just tell us that it costs $1720 for a $200K home?
Yes, but I haven’t told you the worst part: ABOVE the $200K price, this tax adds an additional 2% on EVERY DOLLAR.
So, a $300,000 home will cost you $3720 (calculated by adding the $1720 base, plus 2% on the additional $100,000 price = $3720)
While the Land Titles Transfer Tax is especially difficult for young, first-time home buyers, even people ‘with money’ find an added tax of 4 grand or more to be a financial ‘hit’. For that reason, Winnipeg REALTORS® have been lobbying to change this regressive tax. Let’s bring it more in line with other western provinces.
Ideally, inline with Alberta, where a $200K home costs $75 in Land Titles Transfer Tax and a $300K home costs $95. But heck, let’s not even look at those numbers, lets instead compare to my wife’s home province of Saska-Bush …. where it costs just $1200 to transfer the title of a $400,000 home.
Manitoba’s fee for transferring the Title of a $400,000 home: $5,720
This is a one-time tax paid each time a property is ‘transferred’ between owners. It is calculated based on the value of the property. Most provinces in Canada do have a Land Titles Transfer Tax, but each jurisdiction has their own way of calculating the tax.
In Winnipeg, the LTTT (Land Titles Tax) is paid by the buyer. It is paid EACH time you buy a property, house, condo or vacant land. If you sell the property at a later time, there is NO refund or credit. It is quite literally a tax grab by the provincial and civic governments.
Yes, any type of residential property, including houses, condos and vacant land are subject to this tax.
We have a tool that will help you embedded in our App. Its available here… Land Titles Tool.
For a look at more comparisons and for a more in-depth article on the Land Titles Transfer Tax, go to the Winnipeg REALTORS® website at https://2muchltt.com There is even a link to contact your local MLA.
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. I get letters and e-mails from people, asking about real estate issues. Here is one I received in the …
Open Houses are a great way to start your search. Here is a list of questions to ask the Open House (Listing Agent).
Home buyers should have their own real estate buyer agent when buying a house or condo. Here are 7 reasons why buyers should have their own agent.
Located along scenic Waterfront Dr. in Winnipeg, we find the this very special condo project. The Sky Waterfront Condos. This modern, all concrete building offers many amenities along with its central location. Close to the baseball park, the new Human Rights Museum and theatres, in the East Exchange District.
Sky Waterfront Condos are made up of 112 condos in 1 building. There are 2 sections to this building, one being 5 storeys tall, the other 7 storeys. Totally connected, each section also has its own elevator. Units range in size from 809 sq feet for a 1 BR plus den, to larger units of 1600 sq feet. There is even a 2,000 sq ft unit as well. Note, the 1 BR plus den could actually be called a 2-BR unit: even though the ‘den’ does not have a window, it is equipped with a sprinkler system.
Just the usual condo-restrictions, such as “No Laundry to be hung from the balcony” etc. Pets are allowed, so long as they don’t pose a nuisance to other owners. Owners are allowed to rent out their suites, however must put up a $1,000 leasing levy to assure that their tenants abide by all rules.
Gross Property Taxes range between approx. $2900.00 per unit to $6000, depending on size. Of course, as an owner who actually lives in their unit, you would qualify for the Provincial Home Owners Assistance Rebate, similar to when you own a house.
Condo fees range between $250 and $500 per month, which includes snow removal, property maintenance, water and management fees. Owners pay for their own hydro, telephone, and cablevision.
All units have their own insuite laundry, and most have an underground parking spot, although a few include an outdoor spot.
This building has some very nice amenities, including a spacious fitness room, a residents lounge with TV, kitchen and pool table, and a nice rooftop patio with gorgeous views of the river and downtown. Suites include central air and furnace.
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Very central location, right on Waterfront Dr, this condo is close to the theatre district, the ballpark, the Canadian Museum of Human Rights and much more. You’ll find restaurants close by, in the Exchange District of Winnipeg.
During the 2 yr period of 2016-17, condos at Chimney Ridge have sold for between $237,000 (for an 800 ft 1-BR) and $412,000 (for the 1555 multi-level unit) (MLS® stats)
If you’re in the market to buy a condo, whether at Sky I Waterfront Condos or anywhere else, please contact me anytime…. “Bo Knows Condos“
If you’re thinking of selling your condo, anywhere in the city, please contact me anytime.
Direct Cell 204-333-2202 or email me at [email protected]
About the Publisher
Tips and advice on how to measure your home. 🏡You might be surprised that home measurements include all walls, hallways and even closets. Here are ways to measure the different styles of homes.
Selling a luxury home is not the same as selling any old house or condo. Luxury properties take longer to sell, require more specialized marketing efforts and a patient seller and agent. Here are 6 things t consider when trying to sell your luxury house or condo in any market…
