Home Buying Tips

About This Blog If you are buying, selling, or simply trying to make sense of what is happening in the Halifax-Dartmouth real estate market, you are in the right place. This blog is written by Rob Lough, Broker/Owner of Century 21 Optimum Realty and a licensed real estate professional with 25 years of Nova Scotia market experience, including five years as a certified home inspector. That combination is rare in this industry, and it shapes how every article here is written: practical, data-driven, and grounded in what is actually happening on the ground across Halifax Regional Municipality, East Hants, and the Truro/District 104 market. Home Buying Tips covers the things buyers need to know before, during, and after a purchase, from understanding closing costs and navigating the mortgage stress test, to knowing what a home inspector is really looking for in a Halifax house and how to compete in a fast-moving market without taking on unnecessary risk. These articles are written for first-time buyers and experienced homeowners alike, with plain-language explanations and no filler. Whether you are tracking the market, preparing to list, or getting ready to make an offer, these articles are designed to give you the information you need to make confident, well-informed decisions.

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Home Buying Tips Bank of Canada reduces policy rate by 50 basis points to 3¾% The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization. The Bank continues to expect the global economy to expand at a rate of about 3% over the next […]
Home Buying Tips New Short-Term Rental Regulations Starting in September 2024 New regulations for short-term rentals, in Nova Scotia, such as Airbnbs take effect on September 30 and will help make more long-term housing available. “Nova Scotians need housing. We know many houses and apartments that could potentially be long-term homes are being rented short term,” said John Lohr, Minister of Municipal Affairs and Housing. “We’re […]
Home Buying Tips Bank of Canada reduces policy rate by 25 basis points to 4.25% Bank of Canada reduces policy rate by 25 basis points to 4.25% The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. The global economy expanded by about 2½% […]
Home Buying Tips Buying a Home: The Basics Key Takeaways Determine a realistic budget that includes all homeownership expenses to avoid financial strain in the long run. Thoroughly research neighborhoods, attend open houses, and consult with real estate agents to make an informed decision. Secure financing beforehand and negotiate based on research and inspection findings to get the best deal possible Buying a […]
Home Buying Tips Teranet-National Bank House Price Index™ remained relatively stable again in July YEAR-OVER-YEAR The Teranet-National Bank Composite Home Price Index™ rose by 2.0% from July 2023 to July 2024, less than the 3.6% increase recorded the previous month. Increases were observed in ten of the 11 cities making up the composite index in July. Calgary led the way with a 15.1% year-on-year price increase, followed by Edmonton with […]
Home Buying Tips First-time homebuyers can now apply for a 30-year mortgage The 30-year amortized mortgages announced in the 2024 federal budget are kicking in on Thursday. First-time homebuyers who are purchasing newly built homes can now qualify for a 30-year mortgage, giving them five additional years to pay off an insured mortgage. For other mortgages where default insurance is required, a 25-year amortization limit is still […]
Home Buying Tips Bank of Canada reduces policy rate by 25 basis points to 4½% Bank of Canada reduces policy rate by 25 basis points to 4½% The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. The global economy is expected to continue […]
Home Buying Tips 2024 Canadian Price Per Square Foot Survey Canadian home prices largely stable, with some smaller communities, ‘burbs, and AB seeing increases Annual Price per Square Foot survey looks at prices back to 2018 for almost 50 communities   Vancouver (July 22, 2024) – Canadian housing prices per square foot generally held steady in the first half of this year, with some notable exceptions […]
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Home Buying Tips Nova Scotia Down Payment Assistance Program The Down Payment Assistance Program helps Nova Scotians who pre-qualify for an insured mortgage to buy their first home. You can apply to the Down Payment Assistance Program for a loan of up to 5% of the purchase price of a home to help with the down payment. You can apply anytime. Use the Down […]
Home Buying Tips Top 10 Must Try Restaurants in Halifax Halifax is home to a very vibrant restaurant scene. In my opinion, it punches well above its weight for a city of its size. It’s also one that has increasingly become more dynamic thanks to an influx of immigrants, high-profile chefs, and an overall creative approach to both interior design and menu creation. That means […]
Home Buying Tips June 5, 2024 Bank of Canada Rate Cut The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization. The global economy grew by about 3% in the first quarter of 2024, broadly in line with the Bank’s […]

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