Property Overview
This 1946-built, one-storey home in Ridgedale presents a distinct proposition centered on its exceptional land. Situated on over half an acre (25,529 sqft), the property ranks in the top 1% in Winnipeg for lot size, offering a rare level of privacy and space within the city. The appeal lies in this blank-canvas potential; the large, flat parcel is ideal for extensive gardening, recreation, or future expansion, while the existing 1,182 sqft bungalow provides a functional starting point. Its key characteristics—a finished basement, no garage, and a vintage build—suggest it is best suited for a specific buyer: someone with a vision for the land itself, whether as a long-term family compound, a landscaping project, or a future custom build, and who is comfortable with updating or working around an older home. It’s a property where the value is fundamentally in the ground it sits on, offering a trade-off of a modest house for extraordinary outdoor possibilities.
Frequently Asked Questions
1. What does the "finished basement" entail?
Given the home's age, it's important to verify the finish quality, ceiling height, moisture control, and compliance with current codes. A professional inspection is highly recommended to assess its condition and suitability.
2. How does the 80-year-old building affect insurance and maintenance?
Older homes often come with higher insurance premiums and predictable maintenance needs for original plumbing, electrical, and the roof. Budgeting for these ongoing costs and potential updates is essential.
3. What are the possibilities for adding a garage or other outbuildings?
The vast lot certainly allows for it, but any new structure would require checking with the City of Winnipeg for zoning bylaws, setback requirements, and necessary permits.
4. Is the property's high land value assessment a concern for property taxes?
Yes, the assessment is heavily weighted toward the land value. While the overall assessment is moderate for the city, taxes will be calculated on that total value. Prospective buyers should factor this into their ongoing ownership costs.
5. Given the lot size, are there any restrictions on subdividing the property?
This is a critical question for buyers looking to maximize the land's value. Subdivision is a complex process subject to strict city planning rules, zoning, and utility access. A consultation with a planner or the city's zoning department would be the first necessary step.