Is 46 Lake Estate Drive a good lot for building a home or cottage near Gimli?

For a lot of buyers, yes. It's a 93' x 160' waterfront lot in Odin Green, about a mile south of Gimli, listed at $114,900. The lot sits higher than many in the Interlake and is erosion-protected, and there's no deadline to build. When you do build, the home needs to be at least 800 sq. ft., which leaves room for anything from a compact year-round cottage to a full-size family home.

Quick Facts

Address: 46 Lake Estate Drive, Odin Green, RM of Gimli
Property type: Vacant waterfront land
Lot size: 93' x 160'
Price: $114,900
Building timeline: No deadline to build
Minimum home size: 800 sq. ft.
MLS®: 202627064

No Clock on When You Build

Many lots in new subdivisions come with a build-by date. Miss it and you can face penalties, or even have to sell the lot back. 46 Lake Estate doesn't have one.

That gives you options:

Buy now, build later. Lock in the lot while you save, sell your current place or wait for the right builder.
Take your time on design. Work through floor plans, quotes and permits without a deadline pushing you into decisions.
Use it before you build. Spend a few summers getting to know the lot, the light and the neighbours, then design around what you learn.

The one rule is size. Whatever you put up needs to be at least 800 sq. ft. That's a reasonable floor. It rules out a shed-style cabin, but leaves plenty of room for a two-bedroom cottage, a retirement bungalow or a larger family home.

Before you finalize plans, confirm any other requirements with the RM of Gimli and review the subdivision's restrictions with your lawyer. I'm happy to help you get those documents early.

The Lot

At 93 feet wide and 160 feet deep, this lot gives you space to work with. There's room for a home, a garage, a deck facing the water and a yard, without everything feeling squeezed together.

A few things stand out:

Waterfront with easy lake access. Your backyard opens to the water, with room to set up a dock for a boat, kayak or paddleboard.
Elevated and erosion-protected. Odin Green's waterfront lots were built higher than many comparable lots in the Interlake, with flooding in mind. That matters when you're putting a foundation in the ground.
A quiet street. Lake Estate Drive is a residential street in a small community, not a through road.

Life in Odin Green

Odin Green is a small waterfront community just south of Gimli. It was designed around getting outside, and it shows:

About two kilometres of forested walking paths
Underground hydro and phone lines, so there are no overhead wires in your view
Low "star-view" street lighting, so you can actually see the night sky
Sandy beaches around the community's lakes
Landscaped berms between the homes and the highway to cut down road noise
A private boat launch for residents

The community has been filling in. Several new homes have gone up on Lake Estate Drive in the last couple of years, so you'd be building alongside neighbours who are doing the same.

One Mile From Gimli

Being this close to town means you get quiet at home and everything you need a few minutes away. Gimli has groceries, restaurants, a pharmacy, a hospital, schools, a marina and the main beach on Lake Winnipeg.

It's also one of Manitoba's best-known lake towns. Summer brings the Icelandic Festival of Manitoba, the Gimli Film Festival with movies screened over the water, and the New Iceland Heritage Museum, which tells the story of the Icelandic settlers who founded the town in 1875. In winter, there's ice fishing, cross-country skiing and snowmobiling.

Close Enough to Commute

Odin Green is roughly a 40-minute drive from Winnipeg's Perimeter Highway. That puts it in a useful middle ground:

Year-round living if you work from home, are retired or only commute a few days a week
A weekend place that doesn't eat up half of Friday night on the highway
A future retirement home you can build now and enjoy for years before you move full-time

What It Takes to Buy Vacant Land

Financing land works a little differently than financing a house, so it's worth knowing before you start:

Larger down payment. Mortgage default insurance generally isn't available for vacant land, so lenders usually ask for a bigger down payment than the 5% you'd see on a home. Many look for 20% or more. At $114,900, 20% is about $22,980.
Not every lender does land loans. Some banks and credit unions are more comfortable with them than others, so talk to a mortgage professional early.
Construction financing is separate. When you're ready to build, you'll typically need a construction mortgage, which pays out in stages as the work is completed.
Plan for site costs. Beyond the house itself, budget for things like the driveway, well or water, septic, utility hook-ups, surveys and permits. Ask your builder to price these out up front.

A mortgage professional of your choice can walk you through your options for both the land and the build.

Why Buy Land in November?

Winter is a good time to buy a lot you plan to build on in spring. You can close, line up a builder, finalize plans and get permits in place over the colder months, so you're ready to break ground once the frost is out.

There's also usually less competition for land at this time of year. Most people shopping for lake property do it in July, not November.

The Takeaway

46 Lake Estate Drive is a 93' x 160' waterfront lot in Odin Green, a mile south of Gimli, listed at $114,900. It's elevated and erosion-protected, has easy lake access, and comes with no deadline to build, just an 800 sq. ft. minimum when you do. If you want a lake home or cottage within reach of Winnipeg and you'd like to build it on your own timeline, it's worth a look.

As I always say, Knowledge is Power! The more you know about the lot and what it takes to build on it, the easier the decision gets.

Walk the Lot

If you'd like to see 46 Lake Estate Drive in person, call me, Nicole Hacault, at 204-808-1491 or reach out through yourwinnipegrealtor.com. I'll meet you at the lot and go through the restrictions, the survey and what other buyers in Odin Green have built.

Nicole Hacault, Winnipeg REALTOR® Nicole Hacault & Associates Royal LePage Top Producers Real Estate MLS® #202627064

This article is general information, not financial or legal advice. Confirm building requirements with the RM of Gimli and review the subdivision restrictions with your lawyer before purchasing.

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