Property Overview
This two-storey home on a large lot in Bridgwater Lakes presents a compelling opportunity. Built in 2016, it offers modern construction with the benefit of a renovated basement. Its appeal lies in a combination of above-average space, a desirable and relatively new neighbourhood, and strong value metrics compared to the wider market. The home suits buyers looking for a move-in ready property in a family-oriented community who appreciate quantifiable value—backed by recent sale data and assessment rankings—over needing to undertake major renovations.
Key Characteristics & Ideal Buyer
The home’s key characteristics include a generous 2,265 sqft of living space, a sizable 9,371 sqft lot, and an attached garage. Its standout feature is its strong market position: it ranks in the top 11% of its street and neighbourhood for lot size, and its last sold price (July 2023) places it in the top 1% of all Winnipeg sales at that time, indicating a premium property within its category. The renovated basement adds immediate functional space.
The appeal is grounded in its balance. It’s a newer home in a planned community, avoiding the potential issues of much older properties, while the large lot offers room to grow—a feature becoming rarer in newer subdivisions. It would particularly suit pragmatic buyers who value data; the high rankings in assessed value and recent sale price suggest a property that has historically held its value well against peers. It’s also ideal for those who want space but not a project, as major updates like the basement are already complete.
Frequently Asked Questions
1. How does the 2023 sale price compare to the current assessed value?
The home sold for $1,080,000 in July 2023, which is significantly higher than its $839,000 assessed value. This is not uncommon, as assessed values for taxation purposes often lag behind actual market sale prices, especially in active markets.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A prospective buyer should inquire about the finish quality, permits, and the nature of the renovation (e.g., creating a legal suite, adding a recreational room, or simply finishing the space).
3. The lot is large for the neighbourhood. What are the benefits?
A lot ranking in the top 11% for size on its street offers more private outdoor space, greater potential for landscaping, gardening, or adding amenities like a deck or shed, and potentially more distance from neighbouring homes.
4. The home is 10 years old. Are there any major components nearing the end of their lifespan?
While still relatively new, a 2016 build means some original components (like the roof, HVAC system, or major appliances) may be approaching a typical maintenance or replacement window within the next 5-10 years. A pre-purchase inspection is advised.
5. The sold price ranks in the top 1% for Winnipeg. Does that mean it's overpriced?
Not necessarily. This ranking reflects the premium paid for a specific set of desirable attributes at the time of sale: a large lot in a new community, modern construction, and a finished basement. It indicates it was a high-value transaction, not an outlier, especially when compared to similar nearby properties.