Most often when people think about investing in residential property or advancing from renting to ownership, one of the first things that comes to mind is to begin searching for a starter home.
While this is certainly a popular option, the marketplace is shifting to offer alternative investment opportunities that may also be appealing to home buyers.
Currently, there’s a unique development project underway in Brandon called The Woods, which is going to expand the opportunities for those seeking investments in residential property and provide home buyers with some new and exciting options.
The Woods has been in the planning stages for a number of years and now the project is very close to breaking ground with construction expected to begin sometime this summer.
The property, just off of 18th Street on Willowcrest Avenue at the south end of the city, will consist of town house and apartment-style condominiums. Brad Hardy, sales representative for Royal LePage Martin-Liberty Realty, said this project will to some degree shift buying habits of those looking to invest in property.
“I think what we’re going to see more of in our marketplace is where people are stepping in to the market differently than what’s traditionally been done in the past. It’s no longer going to be – I’m going to buy a house, fix it up, sell it, buy another. It’s going to be – I’m going to buy an apartment style condo, then I’m going to buy a town house, then I’ll likely buy my first single family residence. It’s a way to get people on the property ladder quicker,” said Hardy.
The new development will consist of 18 condominium town houses that will all have a double garage and ground level entry with options behind the garage for additional living space such as another bedroom, a family room or an in-law suite.
The style of the building is influenced by designs usually seen on the West Coast, which is providing home buyers with something a little different from what currently exists in the city. With prices starting at just $299,000, Sandy Donald, also a sales representative for Royal LePage Martin-Liberty Realty said there’s been a lot of interest and excitement about the project because of the quality, the price and the look and feel of the property.
“Brandon is growing and there’s a hunger out there for something a little different. People have certainly been interested in the uniqueness of the project. It’s ideal for those who want a low maintenance lifestyle, but still want to own property and want their investment to grow. We’ve had inquiries and have signed reservation agreements with people from all walks of life – professionals, retirees, first-time home buyers and everyone in between. With so many options and the features available The Woods appeals to variety of potential buyers,” said Donald.
Phase one of construction will be the completion of the town houses; the second phase consists of a four-level building with 44 condominium apartment-style units. What makes these apartments unique is that there are seven different floor plans to choose from and the largest units are over 1350 square feet, which is much larger than most apartments.
Other features include vaulted ceilings, open concept living, wrap-around or covered decks, 13 foot ceilings in the penthouse suites and an affordable price as the entry level units range from $215 – 230,000.
“This type of property will appeal to people who want ownership and are in a position to be owners, but who may be having a harder time getting into first time homes because of the high average selling prices of single family dwellings in the city, especially when it comes to new construction,” said Hardy.
In addition, each of the four buildings will have underground parking and the plans incorporate an all inclusive recreation facility, which includes a pool, exercise area and a central park for residents to use and enjoy.
“This isn’t a cookie cutter apartment where every apartment is the same. We have multiple options with lots of flexibility, even in the finish. Homeowners can upgrade to quartz countertops or hardwood flooring if they wish. Both the town houses and apartments can really be personalized in the way that the Brandon marketplace really likes,” said Donald.
It is anticipated that the town houses will be available for occupancy later this fall or early in 2017. For more information on how to reser ve a unit, visit: www.liveatthewoods.ca.
By Wanda Kurchaba