LESS is More
Builders get creative with affordable options
By Todd Lewys Photos by Darcy Finley
>> JUST A FEW SHORT YEARS ago, the new-home landscape looked much different than it does today. Interest rates were at an all-time low, mortgages weren’t subject to formal stress tests and the City of Winnipeg hadn’t imposed impact fees for new homes. Money was no object for buyers looking for HGTV-inspired indulgences, and builders were happy to accommodate them. “Times were good and homes were filled with upgrades,” says Jason Jaquet, vice-president of Randall Homes. “Now, with buyers looking for more value, we've had to pull back. At the same time, we’ve had to come up with newer designs that deliver both the value and luxurious touches that people want.” While homeowners still have the option to splash out on opulent abodes, builders are catering to a wide range of buyers and budgets. And that’s inspired them to take a more creative approach, says Jaquet. “To make homes more affordable, houses are getting smaller and we’re building them on smaller lots. By doing that, we can still give people the square footage and three to four bedrooms they’re looking for and spot in the options they want, such as quartz countertops and laminate flooring,” he says. Cont’d on page 18
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