Buyers – Anne Pryde REALTOR®

Apr 03 No Comments

How to Know if You Are Ready to Buy a Home

Author: Anne Pryde

Categories: Buyers,Halifax,Homeowners,News

Purchasing a home early in life can set you up for an early retirement

Buying and holding a primary residence is a sure win for accumulating equity that can be accessed and used as part of your retirement plan. The earlier you buy, the more equity you will gain.

So, how do you know when you are ready to buy a home?

What follows is a checklist to audit your home buying potential.

You’re past the age of majority in your province (in Nova Scotia, you have to be 19+ years of age to purchase property)
You’ve got job security and are past any probation period at work.
You’ve got at least a five per cent down payment saved. (or qualify for the provincial downpayment assistance program).
You’ve built up strong credit with a 680-plus credit score, but preferably 720 or better.
Your total housing costs plus debt payments are less than 44% of your gross income.
You can prove enough income, or you have a co-signer.
You’re a disciplined spender.
You’ve done the math, and buying makes more sense than renting.
You’ve developed an honest monthly budget.
You’ve got access to three-plus months of living expenses, a.k.a an emergency fund.

This is not an exhaustive checklist, but if you check all these boxes, you probably should be buying a home. If you don’t, prepare an honest budget and focus on saving a little bit each month while you work on the other items.

For more home-buying tips and advice, follow me on Instagram or Facebook or send an email to arrange a personal call. I will answer your questions and help you get started.

Mar 04 No Comments

What to look for in older homes in Halifax

Author: Shanea MacIsaac

Categories: Buyers,Halifax,News

When considering older homes in Halifax, Nova Scotia, it’s essential to pay attention to specific aspects that are particularly relevant to the region’s climate, geography, and historical construction practices. Here are five key things to look for:

Foundation Integrity

Halifax has varying soil conditions, and some areas may be prone to issues like settling or shifting. Inspect the foundation for cracks, signs of water damage, or uneven settling. Look for any repairs or renovations to the foundation and ensure they were done correctly.

Weatherproofing and Insulation

Older homes may have inadequate insulation, which can be a concern given Halifax’s cold winters. Check the condition of the insulation in the, attic, and basement. Look for drafts around windows and doors. Consider the type of windows installed and whether they provide sufficient insulation.

Roof Condition

Halifax experiences a mix of weather, including snow and rain, which can impact the longevity of a roof. Inspect the roof for missing or damaged shingles, signs of leaks, and the overall condition. Ask about the age of the roof and whether any recent repairs or replacements have been made.

Heating System and Energy Efficiency

Older homes may have outdated heating systems. Check the type of heating in the house and its efficiency. Consider whether the home has been retrofitted for energy efficiency, such as updated insulation, double-pane windows, and an energy-efficient heating system. This is crucial for comfort and cost savings, especially during the colder months.

Environmental Concerns

Halifax’s homes have been traditionally heated with oil which carries a risk of spilling. Ask if there have been any oil spills, tank leaks or buried tanks on the property.

Before finalizing a purchase, it’s strongly recommended to hire a qualified home inspector familiar with the local conditions and challenges. They can provide a detailed assessment of the property’s condition and identify any potential issues. Additionally, consult with local experts, such as real estate agents and contractors, to gain insights into the specific considerations of older homes in the Halifax area.

Jan 15 No Comments

How to Buy a Home in Halifax

Author: Shanea MacIsaac

Categories: Buyers,Halifax,News

If you are in the market to buy a home, here are a few top tips to help you make a smart and successful purchase:

Get Pre-Approved for a Mortgage

Before you start house hunting, get pre-approved for a mortgage. This will give you a better idea of how much you can afford and ensures you are viewing homes that are realistic for your situation.

Work With a Good Real Estate Agent

A good real estate agent can help you find homes that meet your criteria, negotiate with sellers, and guide you through the home buying process. Look for an agent with experience in your desired area and a track record of successful transactions.

Be Prepared to Move Quickly

In a competitive housing market, good homes can sell quickly. Be prepared to move quickly if you find a home you love. This may mean making an offer quickly, being flexible with your closing date, or even waiving some contingencies.

Do Your Due Diligence

Once you make an offer, do your due diligence. This may involve getting a home inspection, reviewing the seller’s disclosures, and researching the neighborhood. This will help you identify any issues that could affect your purchase decision.

Stay Within Your Budget

It can be tempting to stretch your budget to buy a dream home, but it’s important to stay within your means. Consider not only the cost of the home but also the ongoing costs of homeownership such as property taxes, insurance, and maintenance. It’s better to buy a home that you can comfortably afford than to be house-poor and stressed about finances.

For more home buying tips and advice follow me on Instagram or Facebook @annepryde.realtor or send an email to arrange a personal call. I will answer your questions and help you get started.

Dec 18 No Comments

How to Get a Mortgage in Nova Scotia

Author: Anne Pryde

Categories: Buyers,Homeowners

Getting a mortgage in Nova Scotia is similar to getting a mortgage in any other part of Canada. Here are some general steps to follow:

Determine how much you can afford. Before applying for a mortgage, it’s important to determine how much you can afford to borrow. Use a mortgage affordability calculator to estimate your monthly payments based on your income, expenses, and debt.

Mortgage calculator

Shop around for lenders. Compare mortgage rates and terms from multiple lenders to find the best deal. You can do this easily by working with a mortgage broker who will take on the work of shopping around for you and often have access to better rates than big bank reps.

Get pre-approved. Once you’ve chosen a lender, get pre-approved for a mortgage. Lenders will usually lock in a rate for you during the pre-approval process. This rate will stay locked in for a period of time protecting you from potential rate increases while you look for the right home. They will also reduce the rate if the percentage has decreased between pre approval and closing so you will always benefit from getting pre approved.

Find a home. Once you’ve been pre-approved, start looking for a home in Nova Scotia. Work with a real estate agent to find properties that fit your budget and needs.

It’s important to note that the mortgage process can be complex and time-consuming, so it’s a good idea to work with professionals like a mortgage broker who can guide you through the process.

I have access to a great team of mortgage brokers who will do the shopping around for you and present you with the best options. I also have direct contact with the major banks and many of the smaller lenders if you want to do the work yourself. Send me an email and I will help you get started anne@domus.ca

Check out these links

First Time Home Buyers Guide

Benefits of Working with a Realtor

Book a appointment with Anne

Feb 28 No Comments

DIY Home Improvements That Increase Value

Author: Shanea MacIsaac

Categories: Buyers,Halifax,Homeowners,Selling

A universal value adding project is a fresh coat of paint. If you intend to sell your home within the next few years, I suggest going with neutral tones now so you don’t have to paint again before selling.

The list below breaks things down room by room so you can start in one space and move through your home in an organized way. Have fun giving each room a new look without breaking the bank. If you would like more tips or advice on increasing value and preparing your property to sell, here is a free download of my Home Selling Guide Book

Curb Appeal

The first impression is crucial when selling a home, so make sure the exterior of your home is in good condition. This can include simple tasks such as trimming bushes, mowing the lawn, and adding colourful plants or flowers.

Kitchen/Bathroom

Kitchens and bathrooms are two of the most important areas for potential buyers. Simple updates such as new hardware, a fresh coat of paint, or new faucets can make a big difference without breaking the bank.

Lighting

Good lighting can make a home feel warm and inviting. Consider adding new light fixtures or replacing bulbs to brighten up dark spaces. Adding some table or floor lamps can also help create cozy ambiance.

Declutter and Clean

One of the most important things you can do to increase the value of your home is to declutter and clean it thoroughly. This can include deep cleaning carpets and floors, getting rid of excess clutter, and organizing storage spaces such as closets and cabinets. A clean and well-organized home can make a big difference in how it’s perceived by potential buyers.

These simple updates are budget friendly and will add value to your home. Potential buyers will appreciate the work and place higher offers on your home. I would love to see before and after shots of your project. Tag me on Facebook or Instagram when you post about your progress!