5 Reasons to Buy Now at 390 On the RiverNews
Whether you’re a young professional thinking about buying your first home, or an empty-nester looking at downsizing in the next few years, you might want to take the leap sooner rather than later. The real estate market in Winnipeg is hot right now, and with more people looking for luxury downtown living, now is the time to buy at 390 On the River — before your dream suite gets snapped up. Here are five reasons to buy now at 390 On the River.
- Your House Will Get Top Dollar
Winnipeg’s real estate market is sizzling, and it’s very much a seller’s market — so if you’re thinking about downsizing in the next few years, you might want to move up your timeline. By selling now, you can get top dollar for your home, which means you’ll have a healthier budget to buy a condo and possibly more left over for savings. Plus, suites at 390 On the River are ready for immediate occupancy, so you won’t have to worry about where you’ll live when your house sells fast.
If the change in lifestyle is what’s holding you back, it’s worth noting that 390 On the River offers a great location, amazing views, an above-grade heated parking and a car wash (you’ll love it in the winter) and a vibrant neighbourhood packed with restaurants. Plus, many suites have generous balconies to enjoy the warmer months.
- Rental Costs Are Rising
The cost of renting in Winnipeg has shot up in recent years — in some areas, it’s more expensive to rent than to buy. Mortgages at 390 On the River are available with as little as 5% down, and you won’t need to worry about CMHC fees (not to mention the land-transfer tax you’d have to pay when buying a house). Compared to renting, where 100% of the money you put in is a sunk cost (i.e., you get nothing back from it), you’ll be building equity when you buy a condo, which can help support your short- and long-term financial goals.
- Interest Rates Are Very Affordable
Mortgage rates are incredibly affordable, with many banks offering fixed mortgages at a little over 2%. At 390 On the River you can do even better thanks to our exclusive offer with Steinbach Credit Union. SCU is offering mortgage solutions in the building with rates as low as 1.55%. Check out the exclusive offer.
- You’ll Pay More for a Comparable Condo in a Few Years
Between limits to the number of construction workers allowed to work side-by-side and the sharp increase in the cost of many materials, the pandemic has had a significant impact on the building sector. It’s expected that condos built in the next two to five years are going to be priced a lot higher than those completed before or in the early months of the pandemic, as 390 On the River was. Buying now means you’ll be able to afford a suite that might very well be out of your price range in a few years.
- Choice Becomes More Limited by the Day
The most popular floor plans at 390 On the River are selling out quickly — so if you’ve had your eye on a unit, you shouldn’t delay. But it’s not just about the floor plan. Finishes at 390 On the River vary from suite to suite, with some featuring white counters and cabinetry, and others boasting a deeper palette of honey or espresso tones. The sooner you buy, the more choice you’ll have in making a home that’s truly yours.
Interested in having a look at what your life could be like at 390 On the River? Contact our agents today to book a private tour.