Property Overview: 706 Buckingham Road
Key Characteristics & Appeal
This is a well-maintained, one-storey home built in 1956, situated on a large, mature lot of over 7,600 square feet in Winnipeg's Eric Coy neighborhood. Its key features include a fully finished basement and a detached garage. The primary appeal lies in its generous outdoor space—a rarity that offers significant potential for gardening, expansion, or simply enjoying private, established greenery. While the 992 sqft living area is modest, the finished basement effectively expands the usable space.
The property suits practical, value-oriented buyers. It's ideal for first-time homeowners seeking a manageable footprint with room to grow outdoors, or for downsizers looking for single-level living without sacrificing yard space. The home’s rankings indicate it is a solid, average property within its immediate area but stands out city-wide for its lot size, placing it in the top 13% in Winnipeg for land. This presents a grounded opportunity: a home that may not be the newest or largest on its street, but offers a tangible asset in its land within the broader market.
Frequently Asked Questions
1. What is the true value of the large lot size?
Beyond extra privacy and space, a lot of this size (ranking in the top 13% in Winnipeg) is a long-term asset. It provides flexibility for future additions like a shed, deck, or garden, and typically holds intrinsic value that smaller parcels do not.
2. How does the age of the home (70 years) affect ownership?
While the home has been maintained, buyers should budget for updates consistent with its era. The positive trade-off is often well-built character and mature, established landscaping that can't be replicated in new subdivisions.
3. What does "fully finished basement" entail?
It means the basement is developed into livable space, adding functional square footage. It's crucial to clarify the finish quality, ceiling height, and ensure it meets local code requirements for egress and moisture control.
4. The home ranks low on its street for size, value, and age. Is this a concern?
Not necessarily. It indicates the immediate street may have larger, newer, or higher-value homes. This can be an advantage, offering a more affordable entry point into a stable neighborhood while still benefiting from the surrounding property values.
5. Who is responsible for verifying the property's history and condition?
The provided rankings and assessment are useful guides, but buyers must conduct their own due diligence. This includes reviewing the full property disclosure, obtaining a recent home inspection, and consulting with a real estate professional to understand all factors affecting value and livability.