​With rent on the rise in Halifax and low resale inventory driving up home prices, it’s getting harder for Atlantic Canadians to save up for their first home. But that doesn't mean you need to press pause on your real estate dreams just because homebuying looks different than it did earlier this year.

Just like people are finding creative ways to offer the services you know and love, the real estate market is pivoting so your plans of owning a new home this year don’t go off the rails. 
 
Here are 4 things you can do to keep your plans on track. 

The best pre-approvals accurately measure your qualifications and how much house you can afford. There’s nothing worse than finding your dream home, then realizing that it’s just outside your financial reach.  

Take the time to gather the necessary documents like:

• Your proof of income.
• Proof of assets such as investments, etc. 
• Employment verification.
• Government issue id and your SIN number.  

​Then book a virtual appointment with a lender. It’s important to note: getting an online quote is different than being pre-approved! Booking an appointment will mean less possibility of running into a problem down the line. 

With interest rates on the rise, it's a great time to investigate down payment assistance programs. There are a variety of federal and provincial programs that can help keep your dream of owning a home on track. 

Canada’s First-Time Home Buyer Incentive provides:

• 5% or 10% for a first-time buyer’s purchase of a newly constructed home, or
• 5% for a first-time buyer’s purchase of a resale (existing) home

This incentive is available to first-time homebuyers with qualified annual incomes of less than $120,000.

Nova Scotia also has a down payment assistance program. Under this program, participants can apply to receive their down payment an interest-free repayable loan as long as the purchase price of the home does not exceed $280,000 and the household income is less than $75,000.

This is a great way to get a sense of your purchasing power in different neighbourhoods. If you have a budget of $400k, then you might get a lot more for your budget in an up and coming area like Fairview than Downtown Dartmouth. Use this time to compare your budget and your home needs with locations you’d be comfortable in.

You can also use virtual tours and listings to take note of your must-haves and nice-to-haves in your potential home. This is the perfect time to clarify your budget, personal property preferences and lifestyle requirements.

Still have more questions? Book a buyer's consultation here to get the answers. 
​

For this week's Small Business Shoutout, we're featuring a local favourite—​Almonak! If you're looking for small businesses you can support across the HRM, follow along on Instagram for more. 

​My husband/business partner, Barrett, always dreamed of living an entrepreneurial life. I, on the other hand, am less of a risk taker, but decided to take the plunge. We had spent a number of years working in Western Canada, before making the decision to relocate our young family to Halifax, to be closer to family in Cape Breton. We both love great food, and the excitement of the restaurant industry, and feel honoured that we were able to be part of opening a restaurant to serve the North End Halifax community.

There's no getting around that one; the pandemic has been incredibly hard on the hospitality industry. The constant changes to restrictions, the ongoing shut downs, staffing challenges - every part of it was hard. For us specifically, we had decided to focus our energy on brunch, instead of multiple services, but every time we were shut down, we switched to a dinner menu, and had to re-engage our customers. What was a fun novelty for the community in the beginning, waivered through the multiple shut downs. It became increasingly difficult to operate a restaurant through the unknown of Covid. It was very trying and stressful as business owners, and also very difficult for our team, who we weren't able to give all the answers to.

​Customers will find a modern, clean, nordic inspired esthetic, speckled with lots of greenery. We have a dedicated cafe area offering up third wave coffee, wellness lattes, and fresh baked goodies. Our brunch menu highlights fresh, creative, flavourful, unique dishes curated by a fantastic chef and kitchen team. We are known for serving up some exceptionally tasty Eggs Benny, but have recently expanded our brunch menu to include items like savoury french toast, and pakora brunch. When the warm weather hits, we will open up our patio, which is one of the few in North End Halifax. Another exciting addition will be the return of our dinner menu in Spring 2022. We focus on beautiful ingredients, prepared for you to enjoy with your favorite people! We will have amazing cocktails, and local beer and wine to complete your experience. Lastly, we are very proud of the consistently positive reviews we receive on the hospitality, knowledge, and welcoming nature of our serving team. We love being able to work with such great people!

​The North End of Halifax is a really exciting, vibrant, and growing area to be. Over the last 3 years, the amount of residential and commercial growth has been exponential. We love seeing our little area flourish, and for locals and tourists to enjoy and support other small restaurants and shops in our area. We have also been lucky enough to connect with other business owners with similar goals, and have been able to support each other through the pandemic. We are also grateful to be part of the North End Business Association, whom are incredibly supportive, 

​We would love for you to come in and enjoy a meal or your favorite coffee. If you aren't able to do that, all small businesses truly appreciate the purchase of gift cards to use later, as well as following along on our social media. Liking, commenting, saving, and sharing Instagram or Facebook posts does not take much time, but is so helpful. Lastly, tell your friends and family about your favorite small businesses to support. It is true that small business owners do a happy dance with every sale. A lot of heart and soul goes into operating a small business, and without the support of our community, many of us would not still be here. Thank you for all you do to keep us small fish going!

Ready to make your move in Halifax? Book a free consultation to find out how you can find your dream home in our vibrant city. 

Clients often have questions after hearing in the media how variable rate mortgages are set to rise (linked to the prime rate), but what they don’t realize is how fixed rates mortgage have been on a rocket to the moon for the past several months. 

Fixed rate mortgages are impacted by the bond market and not the prime rate, meaning they are free to rise and fall at anytime, not just set intervals. But how do fixed rates impact affordability, and what is the stress test?
Last updated in June 2021, the stress test requires that mortgage applications be approved at a rate of 2% above the contract rate, or 5.25%, whichever is higher. With some fixed rates exceeding 4%, the qualifying rate is pushed above the 5.25% benchmark, while the variable rate product from the same lender is often not. While almost half the cost today, variable rates are set to increase, and with record inflation, and other unknowns there are no guarantees when those increases will end.

A variable rate could be a very smart move, if you are in a position to afford increasing payments, as locking in down the road could still mean a higher rate than today. Variable rates are less advantageous to first time home buyers, retirees looking to downsize, or those looking to refinance. In today’s policy environment however, they may have no other option but to take the variable and its lower qualifying rate, in order to secure the extra money to purchase or get approved.

But why don’t we have 30 year amortizations for first time home buyers, or the ability to qualify at the rate you would be paying in the case of a fixed rate term? These changes could bring immediate benefit to buyers looking for a home and level the playing field with those who are purchasing to invest, but it would also push prices even higher as Canada is estimated to need up to 1.2 million additional housing units with plans to build only a fraction of that number. It’s simply not possible to increase ownership and limit dramatic price increases when we have a shortage of homes to begin with. Rising interest rates and the stress test may well be what ultimately limits the rise in housing prices to a more manageable number, but that’s cold comfort to those being pushed out of the market and left in a rental market with its own challenges. A policy designed to promote stability however should not be encouraging variable rate mortgages, and as long as that’s the case, the stress test simply makes no sense. 

Read the original article here. 

Spring Showers may bring May flowers, but they also bring an influx of new listings to the market. Thinking of listing this spring? I've gathered some of my top tips from local experts to maximize your sale price when the time comes. 

Whether you’re selling or simply looking to maintain your purchase, Ed Pottie of Greener Inspections recommends doing a pre-inspection before you list so you can be aware of any issues that may pop up before a potential buyer does their own inspection. 

When I asked Ed what some common things that are found during pre-inspections, he told us:

1. Most people don't go into their attic so things like mould growth, minor water intrusion, etc. can go unnoticed until they become bigger issues. Issues like these can spook potential buyers, so make sure to pop your head up there a couple of times a year with a flashlight to make sure there aren’t any issues hiding up there. 
2. Another common thing would be general maintenance; whether it's annual maintenance on your furnace/boiler or cleaning your mini-split heat pumps, etc. These things often get pushed down our to-do lists, which will usually end up shortening the life span of these large items. Getting them checked out during a pre-inspection mean your buyer will know they’re coming to the end of their life during the showing and can factor that into their offer.

In this hot seller’s market, home staging is one service that sometimes gets overlooked. Staging is about making your home visually appealing and welcoming to prospective buyers and in many homes, only minor tweaks or temporary adjustments are needed to make your home more presentable. Maureen Kennedy of Stage Right Design, for her top tips about preparing your home for sale: 

1. Clean up your home. Ideally, you should clean every part of the house, from the floors to the ceilings—and everything in between. 
2. Depersonalize. Remove personal items such as family photos, trophies, and sentimental items.
3. Declutter. Simply pack away items that you don’t need until after the move, to make more space in the house. 

The first thing buyers see when they pull up to your home is your yard. This gives the buyer their first impression of whether the home has been taken care of, or not. Rob Corey, owner of The Gardener Halifax, works with homeowners to do a full clean-up service to prepare your home for listing, and this is what he recommends to DIY your yard before listing: 

1. Prepare your yard a couple of weeks before showings. You’ll start with a deep rake of your lawn, removing any debris and removing the dead layer of thatch around the roots of your grass. As well, rake out any old/discoloured mulch from your garden beds. 
   
2. Turn over the soil in your garden beds with a cultivator and plant some annuals if the season allows so your garden beds are brightly coloured and in full bloom by the time your home showings are scheduled. Apply a 2-3” layer of fresh black mulch to make your yard look crisp and clean. 
   
3. For an extra special touch, adding potted planters to the front of your home can accent the entrances of your home. As well, they can be added to hide away anything you don’t want focused on during the showings.
   

One of my favourite parts of being a real estate agent is sharing my passion for this city and all things local with Haligonians or soon-to-be Haligonians. For this special Easter edition of the newsletter, I hunted up a few hidden 'eggs' for you to find and enjoy this Easter season. 

If a short drive along the lighthouse route is in your weekend plans, make sure to stop by Rosa Rugosa Seaside Market in Hubbards. This year-round farmers' market has a little something for everyone, featuring a restaurant, general store and vintage shop. They offer a wide variety of local products sourced from all over Nova Scotia, including edible market goods, antiques, vintage clothing, flower bouquets, plants, and a full-service restaurant offering lunch, dinner and Sunday brunch.

If you're following me on Instagram, you know I love hunting for new coffee shops to try all over the city and Narrow Espresso Cafe may be Halifax’s narrowest coffee shop. Tucked in between two buildings on the corner of Fenwick and Queen Street, Narrow Espresso is a  great place to pick up a coffee before exploring the South End.

Narrow Espresso serves drinks made with premium quality, organic, fair trade & locally roasted coffee beans, which are delivered fresh weekly. In addition to their traditional coffee menu, they also offer a rotating menu of seasonal drinks, tea and smoothies, plus a variety of local baked goods and treats. Make it your destination to meet up with friends before going for a weekend walk through Point Pleasant Park or checking out what's new at the Seaport Market. 

Something brand new is coming to North End Dartmouth. Today we're welcoming Ori Foods Co. to the corner of Wyse Road and Russell Street in North End Dartmouth and I can't wait to check it out. This new resto-bakery is offering a selection of pastries, lunch fare, wine, beer, and coffee featuring quality local ingredients. You can expect to see favourites like key lime pie, cream puffs and creme brulee cookies on the menu. 

Ori will be located near the Dartmouth commons, making it the perfect place to grab a treat before walking down Park Avenue to see if the Cherry Blossoms have bloomed (the surest sign that winter is actually over in Nova Scotia!) ​

Looking to make plans with friends for the Easter weekend? The annual Easter Egg Hunt Wine Tour is back,  after being temporarily paused in 2020 and 2021. Go North Tours is currently offering this unique Easter Egg Hunt-Wine tour experience for private groups of 8. You’ll stop at three wineries: Grand Pre, Planters Ridge and 1365 Church Street, for guided tours and tastings, and compete in easter egg hunts to win prizes. Transportation to and from HRM is included in the price. Click here for more info and to book your spot. 

With news of interest rates increasing and the spring buying season just around the corner, I caught up with Mortgage Broker Alex Lavender of the Clinton Wilkins Mortgage Team to get the answers to your most pressing mortgage questions. ​

The top question right now is what will happen with interest rates? If I had a crystal ball, I would be a rich man. There are a lot of predictions out there right now, but from the data we are seeing it looks like there’s an expected 1% increase in rates in 2022 followed by another 0.50% increase in 2023. As of March 2nd, we have just had the first rate hike in almost two years. It is expected that this is the beginning of the rate increases for the next two years.

The most important tip is to get pre-approved. Ensuring you can qualify is only one aspect of a pre-approval, you also need to ensure that you can comfortably afford the payments for that mortgage as well. I highly recommend you contact a mortgage broker of your choosing to assist with this, as they have access to a wide range of lenders that can search out not only the best rates but the best terms for your unique situation. 
The second most important tip in this market is to not get discouraged.  It is very competitive and I know firsthand how disheartening it can be when you don’t have the accepted offer on your dream home. It may take some time but if you are persistent there’s a very good chance you will finally land that accepted offer.

Staying put this March Break? That doesn't mean it can't be an adventure! One of my favourite parts of being a REALTOR® is exploring neighbourhoods across the province, so here are my top picks for family-friendly March Break activities in Nova Scotia. 

Did you know there are over 20 Murals located in Downtown Halifax? A self-guided tour of these murals and other public art pieces can be found on the Downtown Halifax Business Commission’s website.

I recommend starting your exploration at 5151 South Street where you can pick up one of Rousseau Chocolatier’s famous house hot chocolates before heading North to the downtown core. Make sure you have your camera ready! ​

Cabot Shores
​Make the most of winter on the Cabot Trail! Snowshoe by day, then curl up by the fire and watch the stars in a spectacular dome skylight. Cabot Shores has packages that include meals, snowshoe rentals, yurt or chalet accommodations, outdoor hot tub access, and a morning meditation or Qi-Gong session. 

The Prince George Hotel
​Treat your whole family (Dogs included - they have pet-friendly suites available) to a bit of luxury at The Prince George Hotel. Pretend you’re someplace sunnier and take your staycation poolside (indoors.)

In competitive offer situations, the first thing the listing agent wants to know is if the buyer is pre-approved.

​Being able to send in a pre-approval letter with your offer proves that you are serious and gives the sellers confidence that the deal won’t fall apart on financing down the road. 

While you’re at it, be sure to gather the income documents your lender requires (proof of income, proof of assets, and employment verification) in advance of submitting an offer.

In order to make your offer more competitive, you will want to shorten the condition deadlines as much as possible, which doesn’t leave much time to track down these documents after your offer is accepted.

I’ve talked about lending questions with Alex Lavender, Mortgage Broker previously and you can find out more about getting pre-approved here. 

​Having a little less competition can go a long way in landing the right home. Some buyers tend to hibernate during the winter months in favour of waiting for the infamous ‘spring market’ when the real estate industry kicks it into high gear for the warmer months. 

Winter is a great time to shop as sellers who list mid-winter are often more motivated and you’ll face much less competition.

​This ensures that you get an email alert the minute a property that matches your search criteria hits that market. You don’t want to miss out on “the one” because you went out to grab a coffee on your work break instead of checking Realtor.ca.

​Once a property you like becomes available, it probably won’t last long. Make sure you give yourself an opportunity to get in on the action by going to see it as soon as possible, even if it means being a little flexible in other areas of your schedule.

​Unfortunately, a seller’s market is not the time to try and score a deal.

Ask yourself how upset you’ll be if you lose out on this house, and then write your offer accordingly. If you really love it, don’t be afraid to go in above the asking price. (And a heartfelt letter to the sellers included in the offer never hurts.)

​Don’t get swept up in the seller’s market. Hiring a neighbourhood expert means having someone working in your best interest, so you’re not overpaying for a property or relying on over-offering to get the property you love. 

There are lots of ways to write an attractive offer and working with a professional means having insight into the market so that you can write a winning offer.

Whether you're looking to maximize your sale price or increase equity, there are many small projects that will boost the value of your home. 

Here are a few cost-effective home improvement options that will result in an immediate return on your investment: 

With rising energy costs, energy efficient upgrades are a huge hit with today’s homebuyers.

We asked Karynne of Efficiency Nova Scotia for her top tips on increasing energy efficiency at home. Her first recommendation was to install a cold climate heat pump. Compared with electric baseboard heat, high-efficiency heat pumps can be up to 200% more efficient. And best of all, rebates are available through an easy-to-complete application through Efficiency Nova Scotia’s Heating System Rebates service.

She also recommended taking advantage of the Canada Greener Homes Grant and stackable rebates through Efficiency Nova Scotia. For only $199+HST, you can receive a personalized Home Energy Assessment on your home’s energy performance and customized recommendations to improve the comfort and efficiency of your home—lowering your bills and improving the resale value of your home. Rebates are available for upgrades such as:

• Insulation
• Air sealing
• Windows and doors
• Efficient heating systems
  
  

Smart thermostats are another way to boost home value in an easy low-cost way. You can get up to $35 off in-store through participating retailers, and you will have instant access to your energy usage at your fingertips through smart thermostat apps like Nest and Ecobee.

Over the past two years, the home has become more important than ever. It has become a classroom, workplace, fitness studio, and much more. As a result, we've seen an increase in home renovations as people adapt their living space to meet their ever-changing needs.

If you're considering an update to your home this year, here are 5 design trends to keep in mind for 2022. ​

Despite the shift toward bold colour, don’t throw out all your beige just yet. Minimalism and neutrals are still relevant, and an added twist can make them feel fresh again. 

Wendy Friedman of the Independent Mercantile and Biscuit General Store says one way to do this is by adding in pops of colour in a room’s textiles—minimalism and maximalism can coexist in the same space by keeping your white walls, but adding print and colour in rugs, throw pillows, and accessories. ​

Whether you love it or hate it, working from home seems to be here to stay with many offices opting to choose smaller spaces and keep their teams working remotely. With this change in working arrangements, the appeal of a beautiful and functional home office has never been stronger. 

Unfortunately, the steadily increasing prices of our housing market results in buyers opting for smaller spaces with less options for that spacious, standalone home office. 

This means maximizing the space you have, with flexible floorplans featuring stylish and airy room dividers, well designed storage to hide office and school supplies, and multi-purpose furniture. ​