FAQ
Condos 101
A condominium, commonly referred to as a condo, combines elements of individual ownership and shared community living. In a condominium, individual units within a larger building or complex are owned by private individuals or families. These units can range from apartments and townhouses to detached homes, and they are typically part of a larger development managed by a condominium board.
Condos offer a housing option that combines the advantages of homeownership with the convenience and shared amenities of communal living. The appeal of condos often lies in the balance between individual space and community engagement, making them a popular choice for a diverse range of homeowners.
Condo Boards are comprised of elected unit owners residing in the complex and contain directors and officers. The board has the authority to manage all common elements and assets on behalf of the fellow condo owners. With a StreetSide condo, at the start of a new project when we are still selling suites, StreetSide Developments starts at the governing body. A condo board will be established once its 55% owner occupied, and will be elected by the owners.
Reserve Funds are set aside by the condo corporation in order to cover the expenses of any major maintenance or repairs that need to be done on the common areas of the condo. This fund comes from the condo fees paid by each owner.
Insurance for the overall building is covered by the Condo Corporation. Separate insurance is required for all condo owners to cover the contents of their unit and any options or upgrades.
Condo fees cover shared expenses like snow removal, yard care, building maintenance, and common-area upkeep. They vary by property size, unit size, amenities, and services included. Every StreetSide community is unique—ask our sales team for details on the fees for your home.
When we start a new development, we work with the property manager to create a budget based on an estimate of the operating expenses of the corporation for the first years activities. The estimate is based on their years of experience running similar multifamily projects in the Winnipeg area. We create this budget to try and ensure that we’re setting up the condominium community for long term success, which includes an amount that is contributed to a reserve fund, which ensures the corporation can pay for future repairs.
When a new area of the city is developed it is a requirement from the city to have some land designated for condominium properties. This is to give the community a wide array of housing options and make home ownership affordable for all. We develop condominium communities in order to provide a lock and leave lifestyle that can’t be obtained through standard ownership, meaning you have more time to do the things you love!
A pre-sale means a home is available for purchase before construction is complete, or in some cases, before construction has started. Buying during pre-sale can offer benefits to purchasers such as financial advantages, customization options, first-priority on desirable suites, and long-term investment potential
Buying with StreetSide
Financial Advantage: One of the most enticing aspects of purchasing a condo during the presale phase is the potential for financial gain. Buyers often have the opportunity to lock in a lower price compared to the market value upon completion. As property values tend to appreciate over time, this means that early investors can enjoy significant returns on their investment before even moving in.
Customization and Personalization: Buying a condo presale allows individuals to have a say in the design and layout of their future home. If you purchase early enough, you’ll receive a dedicated design meeting where StreetSide Developments provides a range of customization options, from choosing finishes to customizing fixtures. This level of personalization ensures that the condo aligns perfectly with the home buyer preferences, making it a truly tailored living space.
First Dibs on Desirable Units: In a competitive real estate market, securing a coveted unit in a desirable location can be challenging. By buying a condo presale, buyers have the advantage of selecting their preferred unit from the available options. This not only ensures a prime location within the development but also increases the likelihood of obtaining a unit with optimal views, layouts, and amenities.
Long-Term Investment Potential: Condo pre-sales are not just a short-term win; they can also be a strategic long-term investment. As neighborhoods develop and infrastructure improves, the value of the property tends to appreciate. This makes presale condos an attractive option for those looking to build wealth over time and potentially secure a steady income through rental opportunities.
We start by designing communities with future homeowners in mind—considering needs, features, budgets, and how to maximize value. Once plans and permits are ready, we begin construction, exceeding Manitoba’s Building Code and drawing on over 75 years of experience. From site servicing to foundation, framing, finishing, and final inspections, every step is completed to our exact standards.
StreetSide Winnipeg builds new condos, townhomes, and bungalow-style homes in thoughtfully planned communities across Winnipeg and surrounding areas. Our homes are designed for low-maintenance living, modern layouts, and a range of lifestyles, including first-time buyers, families, downsizers, and professionals.
StreetSide Winnipeg offers new home communities in select neighbourhoods across Winnipeg, such as Sage Creek, Bison Run, St. Vital, and Aurora at North Point. Availability may vary by community – visit our communities page for the latest availability.
Yes – many StreetSide homes are designed with first-time homebuyers in mind. Features such as efficient layouts, low-maintenance living, and community locations can make condos and townhomes not only a practical option, but a preferred option for buyers entering homeownership.
Plus, with the Government of Canada’s new GST rebate, eligible first-time homebuyers can save more than ever before. Read our blog post here for more information.
Depending on the stage of construction and specific community of the suite you’re eyeing up, buyers may have the opportunity to customize finishes or select upgrades to add their personal touch to their home. When eligible, buyers receive a dedicated appointment with StreetSide’s in-house Design Consultant to walk them through the process and available options.
All StreetSide homes are covered by our one-year comprehensive warranty, which ensures coverage for defects in workmanship and materials. Should any issues arise within your first year of taking possession, we will repair or replace the affected workmanship or materials. Read more about our warranty here.
Beyond our one-year warranty, each new home is protected by comprehensive coverage from National Home Warranty, one of Western Canada’s leading third-party warranty providers.
You can register for updates through the StreetSide Winnipeg website by joining the email list for the community you are interested in. Registered buyers may receive updates about pricing, floorplans, launch dates, availability, promotions, and pre-sale opportunities. Click here to search by community.
Still have a question?
Please email streetsideinfo@qualico.com or call 204.224.6160.