Property Overview: 578 Buckingham Road
Key Characteristics, Appeal & Ideal Buyer
This property is a modern, single-storey home built in 2021, offering a turnkey lifestyle on an exceptionally large, nearly half-acre lot (over 19,000 sq ft). Its appeal lies in the combination of new construction benefits—minimal maintenance, modern systems, and contemporary design—with the rare space and privacy of a mature-sized property. Key features include a finished basement, an in-ground pool, and an attached garage.
Beyond the obvious, its standout value is in its statistical dominance within the local market. The home ranks in the top 2% of all Winnipeg properties for both lot size and assessed value, and it's newer than 98% of homes in the city. This positions it not just as a home, but as a premium asset in its area. It perfectly suits a buyer looking for a spacious, low-maintenance retreat within the city—whether a family desiring room for recreation and future projects, or professionals seeking a premium, modern property with significant investment-grade metrics and immediate leisure amenities like the pool.
Frequently Asked Questions
1. What does the high assessment value relative to the neighborhood indicate?
With an assessed value placing it in the top 1% of its community, this suggests the property is considered a significant outlier in terms of market value, likely due to the combination of its newness, size, and amenities. It's a marker of a premium property within its setting.
2. Is the large lot mostly usable space, and what are the implications?
A lot of this size (19,063 sq ft) offers immense potential for gardening, expansion, or recreation. However, buyers should consider the ongoing responsibility: maintenance like lawn care and landscaping will be more significant in terms of time, equipment, or cost compared to a standard city lot.
3. As a 2021 build, what should I know about the builder and warranty?
While the home is past the typical one-year builder warranty, it may still be within the scope of longer-term warranties on major components (e.g., structure, envelope). A key due diligence step would be to identify the builder and research any remaining new home warranty coverage.
4. The home ranks highly for size, but the living space is under 2,000 sq ft. Why?
The rankings compare it to all area homes, many of which are older. Its high rank reflects that it is a spacious home by current standards, especially when paired with the finished basement. The true sense of space comes from the single-level layout combined with the vast outdoor area.
5. How might the in-ground pool affect insurance and utility costs?
An in-ground pool increases annual maintenance costs and typically raises homeowner's insurance premiums due to liability risk. Utility costs, particularly for water and potentially gas (if heated), will also be higher during the summer operating season.