A Better Real Estate Deal In Winnipeg Than In Toronto!
This is a true story of a family that relocated from Toronto to winnipeg, some three years ago. Real estate was booming in Toronto. So people opting to sell their houses ensured a tidy sum for themselves! When our family decided to sell our town home, prices were sky high; we ended up with a reasonably good profit margin. More than that actually, since we were able to shell down hard cash for a wonderful four-bedroomed house in Winnipeg. The new house is large and exhibits character, plus demands no mortgage. Though parting from friends and family was difficult, the change was well worth it!
Our big house is absolutely sprawling and the property boasts a double lot. If our home was located anywhere within the Toronto real estate market, there’s no way it would sell for less than $300,000. Fully renovated and depending on the exact location, the selling price could even be close to $500,000. So, how did we manage to land this real estate deal and claim our mortgage-free status? The real estate market in Winnipeg is one of the city’s best kept secrets. We’ve experienced a 20% increase in our market in the past three years. However, when we bought our home, we paid a measly $65,000 for a three story home in good condition. There are some cosmetic things that needed (and still need) to be done. My husband plans to install brand new hardwood flooring throughout the main living area. But these are minor concerns when considering what a home of this size and character would go for in the Toronto real estate market.
Toronto prices have shot up so much that people who want to buy a house have to shell out $250,000! Others have to forget about settling in a nice neighborhood or a place with good amenities, the condition of the place, etc. They can only live in town homes or condominiums. The house could be in any condition–the price would not change. The real estate listings of the city of Toronto therefore prove to be quite mind-boggling for someone who is not prepared for it!
All the more reason for joy, when I learnt about this! The relocation has come at the right time! Winnipeg does not have a gridlock through which to battle for office goers. Since situations are better, people do not succumb to road rage. People can still afford to buy houses, as they are below $100,000. Even the neighborhoods offer a choice. Home owners can benefit from the many incentives offered by Manitoba Hydro. A person who buys a fixer-upper can install highly efficient furnaces plus new windows. The interest rates are reasonable on loans. There are also town homes and condominiums for sale. Additionally, compared to Toronto, the maintenance fees are but a fraction over here.
Winnipeg truly has something for everyone. Our housing prices blow Toronto real estate costs out of the water… and that’s just the beginning.
We have now made Winnipeg our home, probably for good. Yes, we miss our friends and family, but we still find ways to keep in touch and see each other on a regular basis. Our family is much happier with our slower pace, the kids love having so much space to run around, and we feel like we’ve made a smart decision for the long run.
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