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The New Normal: A Strong Housing Market Expected to Continue into 2021
Most of us would have expected the housing market to suffer from circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages. But, rather than a slowdown, we are continuing to experience a surprisingly robust real estate market across the country.
Market conditions like fewer available listings, changing criteria for desired homes, and record-low mortgage rates are changing the way people buy and sell homes, most likely in a lasting way. But this sustained activity, even in the uncertainty that is 2020, proves that our country still views real estate as a sound investment.
The only question now is how you can take advantage of the housing market’s “new normal.”
Inventory (e.g., number of homes for sale) is at a record low across the country. According to statistics from RBC Economics, the majority of Canada is experiencing tighter demand versus supply than the country has seen in nearly two decades.[1] At the end of September, there was just 2.6 months of inventory on a national basis. That restricts supply, which increases prices if demand remains unchanged.[2]
Fewer listings creates a housing market that is advantageous for sellers for several reasons. For one, buyers have to act fast to snap up available homes. Listings now spend about 26 days on the market.[3]
And thanks to tough competition for homes (often resulting in bidding wars between buyers), sellers are enjoying higher net returns on their listings. The average home price in September rose to a record $604,000, which translates to 17.5% more than just a year ago.[4]
People used to base their next home purchase on commute times and school districts. Now, thanks to the pandemic shifting the locus of jobs and work, they are free to consider how and where they truly want to live. The search for these criteria is driving residents out of densely populated metropolitan areas and into the suburbs, which opens more inventory possibilities than buyers could consider pre-pandemic.[5]
Now that the average five-year fixed rate is hovering around 1.99%, buyers are afforded more purchasing power. Consider this example. If a buyer can afford a $500,000 home by putting $120,000 down (25%), the monthly payment on a standard 25-year mortgage would be $2,210. Conversely, with a lower rate (say, 2.8%) that buyer can now afford a $600,000—$100,000 more purchasing power—at a cost of only $12 additional per month.[6]
Despite the seemingly adverse buyer conditions, 2020 experienced a record-breaking number of home sales, CREA reports. Existing-home sales jumped 46.5% in September. With an additional 20,000 transactions logged, it was the busiest September thus far![7]
All of the aforementioned factors indicate that the housing market is poised to remain strong as we head into the new year. And experts estimate that these conditions are likely to last well into the new year.[8]
Homes For Sale Halifax
Land For Sale
Fourchu Road, Framboise NS B0A 1K0
NoneParking(s)
6Picture(s)
1.35Acre
Harvey Realties Limited (St.Peters)
C$15000
Land For Sale
Fourchu Road, Framboise NS B0A 1K0
NoneParking(s)
1.35Acre
Harvey Realties Limited (St.Peters)
A
C$15000
Land For Sale
25321 Highway 7, Port Dufferin NS B0J 2R0
NoneParking(s)
10Picture(s)
0.34Acre
Red and White Realty NS Inc.
C$34900
Land For Sale
25321 Highway 7, Port Dufferin NS B0J 2R0
NoneParking(s)
0.34Acre
Red and White Realty NS Inc.
S
C$34900
Land For Sale
0 Mozier Cove Road, Sober Island NS B0J 3B0
PavedParking(s)
19Picture(s)
3Acre
Royal LePage Anchor Realty
C$149000
Land For Sale
0 Mozier Cove Road, Sober Island NS B0J 3B0
PavedParking(s)
3Acre
Royal LePage Anchor Realty
B
C$149000
Land For Sale
0 Bellevile Road, Belleville South NS B0W 3M0
NoneParking(s)
4Picture(s)
4.30Acre
Engel & Volkers (Yarmouth)
C$19900
Land For Sale
0 Bellevile Road, Belleville South NS B0W 3M0
NoneParking(s)
4.30Acre
Engel & Volkers (Yarmouth)
T
C$19900
Land For Sale
Murray Street, Mulgrave NS B0E 2G0
GravelParking(s)
7Picture(s)
0.37Acre
Cape Breton Realty
C$59000
C$59000
Land For Sale
LOT 16 Mcnutts Island Road, McNutts Island NS B0T 1W0
NoneParking(s)
3Picture(s)
50Acre
Keller Williams Select Realty (Shelburne)
C$49000
Land For Sale
LOT 16 Mcnutts Island Road, McNutts Island NS B0T 1W0
NoneParking(s)
50Acre
Keller Williams Select Realty (Shelburne)
I
C$49000
Land For Sale
LOT 16 Mcnutts Island Road, McNutts Island NS B0T 1W0
Keller Williams Select Realty (Shelburne)
C$49000
Land For Sale
Maple Ridge Drive Lot 6, White Point NS B0T 1K0
NoneParking(s)
19Picture(s)
0.78Acre
EXIT Realty Inter Lake
C$22900
Land For Sale
Maple Ridge Drive Lot 6, White Point NS B0T 1K0
NoneParking(s)
0.78Acre
EXIT Realty Inter Lake
W
C$22900
Land For Sale
247 Highway, Point Michaud NS B0E 1W0
NoneParking(s)
24Picture(s)
64Acre
Harvey Realties Limited (St.Peters)
C$99000
Land For Sale
247 Highway, Point Michaud NS B0E 1W0
NoneParking(s)
64Acre
Harvey Realties Limited (St.Peters)
P
C$99000
Residential For Sale
1175 247 Highway, Rockdale NS B0E 3M0
1Bedroom(s)
SingleParking(s)
32Picture(s)
444
Harvey Realties Limited (St.Peters)
C$149000
Residential For Sale
1175 247 Highway, Rockdale NS B0E 3M0
1Bedroom(s)
SingleParking(s)
444
Harvey Realties Limited (St.Peters)
T
C$149000
Residential For Sale
1175 247 Highway, Rockdale NS B0E 3M0
Harvey Realties Limited (St.Peters)
1Bedroom(s)
C$149000
Land For Sale
Lot 3 Deer Meadow Lane, Crescent Beach NS B0R 1C0
NoneParking(s)
12Picture(s)
2.01Acre
Red Door Realty(Lunenburg)
C$199000
Land For Sale
Lot 3 Deer Meadow Lane, Crescent Beach NS B0R 1C0
NoneParking(s)
2.01Acre
Red Door Realty(Lunenburg)
S
C$199000
Land For Sale
1814 Raynardton Road Lot 1, Raynardton NS B0W 3M0
NoneParking(s)
9Picture(s)
1.93Acre
PG Direct Realty Ltd.
C$89000
Land For Sale
1814 Raynardton Road Lot 1, Raynardton NS B0W 3M0
NoneParking(s)
1.93Acre
PG Direct Realty Ltd.
V
C$89000
Land For Sale
Salter Road, Pleasant Valley NS B0K 2A0
NoneParking(s)
2Picture(s)
1.30Acre
Royal LePage Atlantic(Stellarton)
C$34900
Land For Sale
Salter Road, Pleasant Valley NS B0K 2A0
NoneParking(s)
1.30Acre
Royal LePage Atlantic(Stellarton)
T
C$34900
Commercial Sale For Sale
63 Main Street, Bible Hill NS B2N 4G7
PavedParking(s)
6Picture(s)
3,600
PG Direct Realty Ltd.
C$399000
Commercial Sale For Sale
63 Main Street, Bible Hill NS B2N 4G7
PavedParking(s)
3,600
PG Direct Realty Ltd.
V
C$399000
Land For Sale
32 St Peters Fourchu Road, Lower L'Ardoise NS B0E 1W0
SingleParking(s)
8Picture(s)
0.46Acre
Harvey Realties Limited (St.Peters)
C$24500
Land For Sale
32 St Peters Fourchu Road, Lower L'Ardoise NS B0E 1W0
SingleParking(s)
0.46Acre
Harvey Realties Limited (St.Peters)
T
C$24500
Land For Sale
32 St Peters Fourchu Road, Lower L'Ardoise NS B0E 1W0
Harvey Realties Limited (St.Peters)
C$24500
Residential For Sale
165 Diana Mountain Road, The Points West Bay NS B0E 3K0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
29Picture(s)
2,500
Keller Williams Select Realty(Sydney,Townsend St.)
C$719000
Residential For Sale
165 Diana Mountain Road, The Points West Bay NS B0E 3K0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
2,500
Keller Williams Select Realty(Sydney,Townsend St.)
B
C$719000
Residential For Sale
165 Diana Mountain Road, The Points West Bay NS B0E 3K0
Keller Williams Select Realty(Sydney,Townsend St.)
4Bedroom(s)
3Bathroom(s)
C$719000
Land For Sale
East Green Harbour Road, East Green Harbour NS B0T 1L0
NoneParking(s)
10Picture(s)
2.20Acre
Keller Williams Select Realty (Shelburne)
C$39000
Land For Sale
East Green Harbour Road, East Green Harbour NS B0T 1L0
NoneParking(s)
2.20Acre
Keller Williams Select Realty (Shelburne)
T
C$39000
Land For Sale
East Green Harbour Road, East Green Harbour NS B0T 1L0
Keller Williams Select Realty (Shelburne)
C$39000
Residential For Sale
1-440 Upper Blandford Road, Deep Cove NS B0J 1C0
2Bedroom(s)
1Bathroom(s)
AssignedParking(s)
29Picture(s)
1,459
Engel & Volkers (Chester)
C$345000
Residential For Sale
1-440 Upper Blandford Road, Deep Cove NS B0J 1C0
2Bedroom(s)
1Bathroom(s)
AssignedParking(s)
1,459
Engel & Volkers (Chester)
I
C$345000
Residential For Sale
1-440 Upper Blandford Road, Deep Cove NS B0J 1C0
Engel & Volkers (Chester)
2Bedroom(s)
1Bathroom(s)
C$345000
Land For Sale
Lot 2 Maclean Road, Hunters Mountain NS B0E 1B0
DirtParking(s)
14Picture(s)
3.80Acre
Keller Williams Select Realty
C$41500
Land For Sale
Lot 2 Maclean Road, Hunters Mountain NS B0E 1B0
DirtParking(s)
3.80Acre
Keller Williams Select Realty
D
C$41500
Land For Sale
Lot 4 East Bay Highway, Big Pond NS B1J 1T1
NoneParking(s)
13Picture(s)
2Acre
Keller Williams Select Realty(Sydney,Townsend St.)
C$149900
Land For Sale
Lot 4 East Bay Highway, Big Pond NS B1J 1T1
NoneParking(s)
2Acre
Keller Williams Select Realty(Sydney,Townsend St.)
C
C$149900
Land For Sale
Lot 4 East Bay Highway, Big Pond NS B1J 1T1
Keller Williams Select Realty(Sydney,Townsend St.)
C$149900
Residential For Sale
56 Angus Walters Drive, Martins River NS B0J 2E0
4Bedroom(s)
3Bathroom(s)
SingleParking(s)
32Picture(s)
3,100
Duckworth Real Estate(Chester)
C$1250000
Residential For Sale
56 Angus Walters Drive, Martins River NS B0J 2E0
4Bedroom(s)
3Bathroom(s)
SingleParking(s)
3,100
Duckworth Real Estate(Chester)
P
C$1250000
Residential For Sale
56 Angus Walters Drive, Martins River NS B0J 2E0
Duckworth Real Estate(Chester)
4Bedroom(s)
3Bathroom(s)
C$1250000
Land For Sale
24 Moser River North Road, Moser River NS B0J 2K0
NoneParking(s)
1Picture(s)
3.78Acre
Exit Realty Metro
C$34900
Land For Sale
24 Moser River North Road, Moser River NS B0J 2K0
NoneParking(s)
3.78Acre
Exit Realty Metro
S
C$34900
Land For Sale
22 Moser River North Road, Moser River NS B0J 2K0
NoneParking(s)
1Picture(s)
7.15Acre
Exit Realty Metro
C$42900
Land For Sale
22 Moser River North Road, Moser River NS B0J 2K0
NoneParking(s)
7.15Acre
Exit Realty Metro
S
C$42900
Commercial Sale For Sale
70 Lacewood Drive, Halifax NS B3S 1L8
DrivewayParking(s)
4Picture(s)
2,500
Royal LePage Atlantic
C$6662
Commercial Sale For Sale
70 Lacewood Drive, Halifax NS B3S 1L8
DrivewayParking(s)
2,500
Royal LePage Atlantic
P
C$6662
Residential Income For Sale
7 View Street, North Sydney NS B2A 1E9
4Bedroom(s)
NoneParking(s)
31Picture(s)
0.26Acre
3% Realty Nova Scotia
C$299000
Residential Income For Sale
7 View Street, North Sydney NS B2A 1E9
4Bedroom(s)
NoneParking(s)
0.26Acre
3% Realty Nova Scotia
W
C$299000
Residential Income For Sale
7 View Street, North Sydney NS B2A 1E9
3% Realty Nova Scotia
4Bedroom(s)
C$299000
Commercial Sale For Sale
230 Mason's Beach Road, Lunenburg NS B0J 2C0
GravelParking(s)
34Picture(s)
8,000
Engel & Volkers
C$1745000
Commercial Sale For Sale
230 Mason's Beach Road, Lunenburg NS B0J 2C0
GravelParking(s)
8,000
Engel & Volkers
A
C$1745000
Residential For Sale
2578 Virginia Road, West Springhill NS B0S 1A0
No GarageParking(s)
21Picture(s)
480
ViewPoint Realty Services Inc.(Greenwood)
C$68500
Residential For Sale
2578 Virginia Road, West Springhill NS B0S 1A0
No GarageParking(s)
480
ViewPoint Realty Services Inc.(Greenwood)
T
C$68500
Residential For Sale
2578 Virginia Road, West Springhill NS B0S 1A0
ViewPoint Realty Services Inc.(Greenwood)
C$68500
Land For Sale
337 Highway Lot 10, Livingstone Cove NS B2G 2L1
GravelParking(s)
3Picture(s)
1.94Acre
PG Direct Realty Ltd.
C$129900
Land For Sale
337 Highway Lot 10, Livingstone Cove NS B2G 2L1
GravelParking(s)
1.94Acre
PG Direct Realty Ltd.
V
C$129900
Land For Sale
15 Elm Street, Springhill NS B0M 1X0
SingleParking(s)
2Picture(s)
0.20Acre
Keller Williams Select Realty
C$30000
Land For Sale
15 Elm Street, Springhill NS B0M 1X0
SingleParking(s)
0.20Acre
Keller Williams Select Realty
P
C$30000
Land For Sale
191 Summit Crescent, Upper Tantallon NS B3Z 1P9
NoneParking(s)
8Picture(s)
2.17Acre
RE/MAX Nova (Halifax)
C$199000
Land For Sale
191 Summit Crescent, Upper Tantallon NS B3Z 1P9
NoneParking(s)
2.17Acre
RE/MAX Nova (Halifax)
Y
C$199000
Land For Sale
Old Cabot Trail, Point Cross NS B0E 1H0
NoneParking(s)
15Picture(s)
4.16Acre
Cape Breton Realty (Port Hawkesbury)
C$155000
Land For Sale
Old Cabot Trail, Point Cross NS B0E 1H0
NoneParking(s)
4.16Acre
Cape Breton Realty (Port Hawkesbury)
W
C$155000
Residential For Sale
149 Munroe Avenue, Westville Road NS B0K 2A0
5Bedroom(s)
3Bathroom(s)
DoubleParking(s)
29Picture(s)
3,006
Turning Point Real Estate Limited
C$695000
Residential For Sale
149 Munroe Avenue, Westville Road NS B0K 2A0
5Bedroom(s)
3Bathroom(s)
DoubleParking(s)
3,006
Turning Point Real Estate Limited
W
C$695000
Residential For Sale
149 Munroe Avenue, Westville Road NS B0K 2A0
Turning Point Real Estate Limited
5Bedroom(s)
3Bathroom(s)
C$695000
Land For Sale
Lot Conrads Road, Hubbards NS B0J 1T0
NoneParking(s)
10Picture(s)
23Acre
RE/MAX Nova (Halifax)
C$1200000
C$1200000
Land For Sale
0 Belleville South Road, Belleville South NS B0W 3M0
NoneParking(s)
9Picture(s)
8.72Acre
Engel & Volkers (Yarmouth)
C$170000
Land For Sale
0 Belleville South Road, Belleville South NS B0W 3M0
NoneParking(s)
8.72Acre
Engel & Volkers (Yarmouth)
W
C$170000
Land For Sale
0 Belleville South Road, Belleville South NS B0W 3M0
Engel & Volkers (Yarmouth)
C$170000
Land For Sale
0 South East Street, Yarmouth NS B5A 3R1
NoneParking(s)
5Picture(s)
2.50Acre
Engel & Volkers (Yarmouth)
C$35000
Land For Sale
0 South East Street, Yarmouth NS B5A 3R1
NoneParking(s)
2.50Acre
Engel & Volkers (Yarmouth)
L
C$35000
Residential For Sale
19 Ross Avenue, North Sydney NS B2A 3E8
3Bedroom(s)
1Bathroom(s)
12Picture(s)
1,040
W. Black & Son Real Estate Ltd.
C$84500
Residential For Sale
19 Ross Avenue, North Sydney NS B2A 3E8
3Bedroom(s)
1Bathroom(s)
1,040
W. Black & Son Real Estate Ltd.
T
C$84500
Residential For Sale
19 Ross Avenue, North Sydney NS B2A 3E8
W. Black & Son Real Estate Ltd.
3Bedroom(s)
1Bathroom(s)
C$84500
Residential For Sale
1895 Highway 6, River John NS B0K 1N0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
40Picture(s)
2,744
Royal LePage Anchor Realty
C$385000
Residential For Sale
1895 Highway 6, River John NS B0K 1N0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
2,744
Royal LePage Anchor Realty
W
C$385000
Residential For Sale
1895 Highway 6, River John NS B0K 1N0
Royal LePage Anchor Realty
4Bedroom(s)
3Bathroom(s)
C$385000
Land For Sale
Cabot Trail, North Shore NS B0C 1H0
NoneParking(s)
3Picture(s)
4Acre
Harvey Realties Limited
C$330000
C$330000
Land For Sale
13762 Cabot Trail, Point Cross NS B0E 1H0
GravelParking(s)
21Picture(s)
0.50Acre
CAPE BRETON REALTY - D11
C$79900
Land For Sale
13762 Cabot Trail, Point Cross NS B0E 1H0
GravelParking(s)
0.50Acre
CAPE BRETON REALTY - D11
H
C$79900
Land For Sale
Lot 13 Highway 337, Livingstone Cove NS B2G 2L1
GravelParking(s)
4Picture(s)
2.40Acre
PG Direct Realty Ltd.
C$135500
Land For Sale
Lot 13 Highway 337, Livingstone Cove NS B2G 2L1
GravelParking(s)
2.40Acre
PG Direct Realty Ltd.
V
C$135500
Residential For Sale
50 Lower Shore Road, Judique NS B0E 1P0
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
45Picture(s)
3,907
Royal LePage Atlantic
C$1350000
Residential For Sale
50 Lower Shore Road, Judique NS B0E 1P0
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
3,907
Royal LePage Atlantic
B
C$1350000
Residential For Sale
50 Lower Shore Road, Judique NS B0E 1P0
Royal LePage Atlantic
4Bedroom(s)
4Bathroom(s)
C$1350000
Residential For Sale
46 Shirewood Lane, Oakfield NS B2T 1B3
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
11Picture(s)
4,276
Viewpoint Realty Services Inc.
C$2199900
Residential For Sale
46 Shirewood Lane, Oakfield NS B2T 1B3
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
4,276
Viewpoint Realty Services Inc.
A
C$2199900
Residential For Sale
46 Shirewood Lane, Oakfield NS B2T 1B3
Viewpoint Realty Services Inc.
4Bedroom(s)
4Bathroom(s)
C$2199900
Residential For Sale
40 Shirewood Lane, Oakfield NS B2T 1B3
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
8Picture(s)
3,864
Viewpoint Realty Services Inc.
C$1250000
Residential For Sale
40 Shirewood Lane, Oakfield NS B2T 1B3
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
3,864
Viewpoint Realty Services Inc.
A
C$1250000
Residential For Sale
40 Shirewood Lane, Oakfield NS B2T 1B3
Viewpoint Realty Services Inc.
4Bedroom(s)
3Bathroom(s)
C$1250000
Residential For Sale
Lot 12 Turner James Avenue, Lantz NS B2S 0E3
3Bedroom(s)
2Bathroom(s)
AttachedParking(s)
9Picture(s)
1,580
Viewpoint Realty Services Inc.
C$699000
Residential For Sale
Lot 12 Turner James Avenue, Lantz NS B2S 0E3
3Bedroom(s)
2Bathroom(s)
AttachedParking(s)
1,580
Viewpoint Realty Services Inc.
A
C$699000
Residential For Sale
Lot 12 Turner James Avenue, Lantz NS B2S 0E3
Viewpoint Realty Services Inc.
3Bedroom(s)
2Bathroom(s)
C$699000
Land For Sale
Hwy 201, Tupperville NS B0S 1C0
NoneParking(s)
6Picture(s)
0.55Acre
RE/MAX Banner Real Estate
C$50000
C$50000
Land For Sale
Cabot Trail, Cap Le Moine NS B0E 1H0
GravelParking(s)
7Picture(s)
0.90Acre
CAPE BRETON REALTY - D11
C$75000
Land For Sale
Cabot Trail, Cap Le Moine NS B0E 1H0
GravelParking(s)
0.90Acre
CAPE BRETON REALTY - D11
W
C$75000
Land For Sale
902 Ostrea Lake Road Lot A, Ostrea Lake NS B0J 2L0
NoneParking(s)
9Picture(s)
0.50Acre
RE/MAX Nova
C$110000
Land For Sale
902 Ostrea Lake Road Lot A, Ostrea Lake NS B0J 2L0
NoneParking(s)
0.50Acre
RE/MAX Nova
S
C$110000
Land For Sale
Grand Greve Road, Grande Greve NS B0E 3B0
NoneParking(s)
20Picture(s)
9.90Acre
EXP Realty of Canada Inc.
C$195000
Land For Sale
Grand Greve Road, Grande Greve NS B0E 3B0
NoneParking(s)
9.90Acre
EXP Realty of Canada Inc.
D
C$195000
Land For Sale
Ostrea Lake Road, Ostrea Lake NS B0J 2L0
GravelParking(s)
4Picture(s)
41Acre
Exit Realty Metro
C$299900
C$299900
Land For Sale
Elm Street Lot 2, Yarmouth NS B5A 2R3
SingleParking(s)
10Picture(s)
0.47Acre
Engel & Volkers (Yarmouth)
C$39000
Land For Sale
Elm Street Lot 2, Yarmouth NS B5A 2R3
SingleParking(s)
0.47Acre
Engel & Volkers (Yarmouth)
T
C$39000
Land For Sale
653 Burntcoat Road, Burntcoat NS B0N 1T0
GravelParking(s)
12Picture(s)
59Acre
PG Direct Realty Ltd.
C$789900
Land For Sale
653 Burntcoat Road, Burntcoat NS B0N 1T0
GravelParking(s)
59Acre
PG Direct Realty Ltd.
V
C$789900
Land For Sale
12483 Cabot Trail, St. Joseph du Moine NS B0E 3A0
DirtParking(s)
2Picture(s)
0.59Acre
Harvey Realties Limited
C$24000
Land For Sale
12483 Cabot Trail, St. Joseph du Moine NS B0E 3A0
DirtParking(s)
0.59Acre
Harvey Realties Limited
J
C$24000
Land For Sale
Gillis Point Road Lot 9, Grass Cove NS B2C 1K6
NoneParking(s)
9Picture(s)
0.46Acre
Engel & Volkers
C$45000
Land For Sale
Gillis Point Road Lot 9, Grass Cove NS B2C 1K6
NoneParking(s)
0.46Acre
Engel & Volkers
B
C$45000
Land For Sale
802 Forbes Point Road, Forbes Point NS B0W 2E0
GravelParking(s)
5Picture(s)
0.40Acre
Keller Williams Select Realty (Barrington Passage)
C$75000
Land For Sale
802 Forbes Point Road, Forbes Point NS B0W 2E0
GravelParking(s)
0.40Acre
Keller Williams Select Realty (Barrington Passage)
L
C$75000
Land For Sale
802 Forbes Point Road, Forbes Point NS B0W 2E0
Keller Williams Select Realty (Barrington Passage)
C$75000
Residential For Sale
142 Curto Court Lot 24, Portuguese Cove NS B3V 0A6
2Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1Picture(s)
1,140
Sutton Group Professional Realty - A549
C$579400
Residential For Sale
142 Curto Court Lot 24, Portuguese Cove NS B3V 0A6
2Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,140
Sutton Group Professional Realty - A549
W
C$579400
Residential For Sale
142 Curto Court Lot 24, Portuguese Cove NS B3V 0A6
Sutton Group Professional Realty - A549
2Bedroom(s)
2Bathroom(s)
C$579400
Land For Sale
2249 Shore Road, Eastern Passage NS B3G 1H6
NoneParking(s)
6Picture(s)
0.63Acre
Royal LePage Anchor Realty
C$374900
Land For Sale
2249 Shore Road, Eastern Passage NS B3G 1H6
NoneParking(s)
0.63Acre
Royal LePage Anchor Realty
W
C$374900
Land For Sale
Fiddlehead Road Lot 15, Big Harbour Island NS B0E 2Y0
DirtParking(s)
14Picture(s)
7.17Acre
Engel & Volkers
C$89000
Land For Sale
Fiddlehead Road Lot 15, Big Harbour Island NS B0E 2Y0
DirtParking(s)
7.17Acre
Engel & Volkers
T
C$89000
Land For Sale
LOT Popes Road, Charlesville NS B0W 2E0
NoneParking(s)
1Picture(s)
87Acre
Royal LePage Anchor Realty
C$99900
Land For Sale
LOT Popes Road, Charlesville NS B0W 2E0
NoneParking(s)
87Acre
Royal LePage Anchor Realty
W
C$99900
Land For Sale
LOT Port Latour Road, Port Clyde NS B0W 3N0
NoneParking(s)
1Picture(s)
136.60Acre
Royal LePage Anchor Realty
C$119900
Land For Sale
LOT Port Latour Road, Port Clyde NS B0W 3N0
NoneParking(s)
136.60Acre
Royal LePage Anchor Realty
A
C$119900
Land For Sale
LOT Little Militia Island, Bear Point NS B3M 2K5
NoneParking(s)
1Picture(s)
2.42Acre
Royal LePage Anchor Realty
C$99000
Land For Sale
LOT Little Militia Island, Bear Point NS B3M 2K5
NoneParking(s)
2.42Acre
Royal LePage Anchor Realty
H
C$99000
Land For Sale
Cabot Trail, Grand Étang NS B0E 1L0
NoneParking(s)
1Picture(s)
50Acre
CAPE BRETON REALTY - D11
C$75000
C$75000
Land For Sale
Lot Highway 1, Salmon River NS B0W 2Y0
NoneParking(s)
6Picture(s)
0.60Acre
Engel & Volkers (Yarmouth)
C$19000
Land For Sale
Lot Highway 1, Salmon River NS B0W 2Y0
NoneParking(s)
0.60Acre
Engel & Volkers (Yarmouth)
C
C$19000
Land For Sale
25A-2 Atlantic Street, Blind Bay NS B3Z 4C1
NoneParking(s)
20Picture(s)
3.90Acre
Sutton Group Professional Realty
C$400000
Land For Sale
25A-2 Atlantic Street, Blind Bay NS B3Z 4C1
NoneParking(s)
3.90Acre
Sutton Group Professional Realty
2
C$400000
Residential For Sale
850 330 Highway, Centreville NS B0W 2G0
3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
50Picture(s)
3,056
Royal Lepage Atlantic (Mahone Bay)
C$675000
Residential For Sale
850 330 Highway, Centreville NS B0W 2G0
3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
3,056
Royal Lepage Atlantic (Mahone Bay)
R
C$675000
Residential For Sale
850 330 Highway, Centreville NS B0W 2G0
Royal Lepage Atlantic (Mahone Bay)
3Bedroom(s)
2Bathroom(s)
C$675000
Land For Sale
331 Old Halifax Road, Salt Springs NS B0M 1R0
SingleParking(s)
31Picture(s)
103.04Acre
Hants Realty Ltd.
C$129900
Land For Sale
331 Old Halifax Road, Salt Springs NS B0M 1R0
SingleParking(s)
103.04Acre
Hants Realty Ltd.
H
C$129900
Land For Sale
70.6 acres River John Road, Sundridge NS B0K 1R0
NoneParking(s)
3Picture(s)
70.61Acre
Sunrise Brokerage & Sales Ltd. Pictou
C$55000
Land For Sale
70.6 acres River John Road, Sundridge NS B0K 1R0
NoneParking(s)
70.61Acre
Sunrise Brokerage & Sales Ltd. Pictou
O
C$55000
Land For Sale
70.6 acres River John Road, Sundridge NS B0K 1R0
Sunrise Brokerage & Sales Ltd. Pictou
C$55000
Land For Sale
Lot 12 Mariner Way, South River Bourgeois NS B0E 2X0
GravelParking(s)
12Picture(s)
3.81Acre
Cape Breton Realty
C$99000
Land For Sale
Lot 12 Mariner Way, South River Bourgeois NS B0E 2X0
GravelParking(s)
3.81Acre
Cape Breton Realty
T
C$99000
Residential For Sale
Lot 110 Osprey Ridge, Belnan NS B2S 3K1
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
50Picture(s)
3,925
Royal LePage Atlantic (Enfield)
C$899900
Residential For Sale
Lot 110 Osprey Ridge, Belnan NS B2S 3K1
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
3,925
Royal LePage Atlantic (Enfield)
T
C$899900
Residential For Sale
Lot 110 Osprey Ridge, Belnan NS B2S 3K1
Royal LePage Atlantic (Enfield)
4Bedroom(s)
3Bathroom(s)
C$899900
Commercial Sale For Sale
257-259 Main Street, Tatamagouche NS B0K 1V0
NoneParking(s)
12Picture(s)
3,656
PRESS REALTY - 16684
C$527900
Commercial Sale For Sale
257-259 Main Street, Tatamagouche NS B0K 1V0
NoneParking(s)
3,656
PRESS REALTY - 16684
W
C$527900
Residential For Sale
478 Shore Road, Lower L'Ardoise NS B0E 1W0
5Bedroom(s)
1Bathroom(s)
DoubleParking(s)
42Picture(s)
1,336
Harvey Realties Limited (St.Peters)
C$209000
Residential For Sale
478 Shore Road, Lower L'Ardoise NS B0E 1W0
5Bedroom(s)
1Bathroom(s)
DoubleParking(s)
1,336
Harvey Realties Limited (St.Peters)
H
C$209000
Residential For Sale
478 Shore Road, Lower L'Ardoise NS B0E 1W0
Harvey Realties Limited (St.Peters)
5Bedroom(s)
1Bathroom(s)
C$209000
Land For Sale
Lot 2 Highway 366, Tidnish NS B4H 3X9
DirtParking(s)
4Picture(s)
11.74Acre
RE/MAX County Line Realty Ltd.
C$59900
Land For Sale
Lot 2 Highway 366, Tidnish NS B4H 3X9
DirtParking(s)
11.74Acre
RE/MAX County Line Realty Ltd.
J
C$59900
Land For Sale
Lot 14 Jonathan R Bouman Lane, Evanston NS B0E 1J0
NoneParking(s)
13Picture(s)
2.30Acre
Cape Breton Realty
C$59000
Land For Sale
Lot 14 Jonathan R Bouman Lane, Evanston NS B0E 1J0
NoneParking(s)
2.30Acre
Cape Breton Realty
C
C$59000
Land For Sale
Cabot Trail Road, Chéticamp NS B0E 1H0
NoneParking(s)
10Picture(s)
11Acre
Red Door Realty
C$99500
C$99500
Land For Sale
0 Legatto Street, Sydney Mines NS B1V 2T5
NoneParking(s)
3Picture(s)
0.53Acre
VALMAC REALTY LTD. - 16139
C$40000
Land For Sale
0 Legatto Street, Sydney Mines NS B1V 2T5
NoneParking(s)
0.53Acre
VALMAC REALTY LTD. - 16139
L
C$40000
Land For Sale
Mariner (P) Way, South River Bourgeois NS B0E 2X0
NoneParking(s)
49Picture(s)
1.71Acre
Cape Breton Realty
C$99900
Land For Sale
Mariner (P) Way, South River Bourgeois NS B0E 2X0
NoneParking(s)
1.71Acre
Cape Breton Realty
L
C$99900
Residential For Sale
47 Upper Railway Street, Inverness NS B0E 1N0
3Bedroom(s)
4Bathroom(s)
DoubleParking(s)
47Picture(s)
5,200
Harvey Realties Limited (St.Peters)
C$695000
Residential For Sale
47 Upper Railway Street, Inverness NS B0E 1N0
3Bedroom(s)
4Bathroom(s)
DoubleParking(s)
5,200
Harvey Realties Limited (St.Peters)
T
C$695000
Residential For Sale
47 Upper Railway Street, Inverness NS B0E 1N0
Harvey Realties Limited (St.Peters)
3Bedroom(s)
4Bathroom(s)
C$695000
Residential For Sale
6674 Highway 101, Gilberts Cove NS B0W 2R0
3Bedroom(s)
1Bathroom(s)
AggregateParking(s)
25Picture(s)
1,098
Exit Realty Town & Country
C$159000
Residential For Sale
6674 Highway 101, Gilberts Cove NS B0W 2R0
3Bedroom(s)
1Bathroom(s)
AggregateParking(s)
1,098
Exit Realty Town & Country
L
C$159000
Residential For Sale
6674 Highway 101, Gilberts Cove NS B0W 2R0
Exit Realty Town & Country
3Bedroom(s)
1Bathroom(s)
C$159000
Land For Sale
Broughton Road, Broughton NS B1B 1N9
NoneParking(s)
2Picture(s)
2.42Acre
Red and White Realty NS Inc.
C$25000
Land For Sale
Broughton Road, Broughton NS B1B 1N9
NoneParking(s)
2.42Acre
Red and White Realty NS Inc.
2
C$25000
Land For Sale
Old Falls Road, Liverpool NS B0T 1K0
NoneParking(s)
1Picture(s)
4.70Acre
EXIT Realty Inter Lake Liverpool
C$150000
Land For Sale
Old Falls Road, Liverpool NS B0T 1K0
NoneParking(s)
4.70Acre
EXIT Realty Inter Lake Liverpool
C
C$150000
Land For Sale
7-Lots 1-7 Butler Road Road, Forest Home NS B4N 3V8
NoneParking(s)
3Picture(s)
2Acre
Royal LePage Atlantic (New Minas)
C$39900
Land For Sale
7-Lots 1-7 Butler Road Road, Forest Home NS B4N 3V8
NoneParking(s)
2Acre
Royal LePage Atlantic (New Minas)
D
C$39900
Land For Sale
7-Lots 1-7 Butler Road Road, Forest Home NS B4N 3V8
Royal LePage Atlantic (New Minas)
C$39900
Residential For Sale
1654 Clarence Road, Clarence NS B0S 1C0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
46Picture(s)
2,800
Exit Realty Town & Country
C$735000
Residential For Sale
1654 Clarence Road, Clarence NS B0S 1C0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
2,800
Exit Realty Town & Country
W
C$735000
Residential For Sale
1654 Clarence Road, Clarence NS B0S 1C0
Exit Realty Town & Country
4Bedroom(s)
3Bathroom(s)
C$735000
Farm For Sale
1654 Clarence Road, Clarence NS B0S 1C0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
46Picture(s)
2,800
Exit Realty Town & Country
C$735000
Farm For Sale
1654 Clarence Road, Clarence NS B0S 1C0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
2,800
Exit Realty Town & Country
W
C$735000
Farm For Sale
1654 Clarence Road, Clarence NS B0S 1C0
Exit Realty Town & Country
4Bedroom(s)
3Bathroom(s)
C$735000
Residential For Sale
1023 Clarence Road, Bridgetown NS B0S 1C0
6Bedroom(s)
2Bathroom(s)
DoubleParking(s)
49Picture(s)
3,141
Exit Realty Town & Country
C$699000
Residential For Sale
1023 Clarence Road, Bridgetown NS B0S 1C0
6Bedroom(s)
2Bathroom(s)
DoubleParking(s)
3,141
Exit Realty Town & Country
W
C$699000
Residential For Sale
1023 Clarence Road, Bridgetown NS B0S 1C0
Exit Realty Town & Country
6Bedroom(s)
2Bathroom(s)
C$699000
Residential Income For Sale
1023 Clarence Road, Bridgetown NS B0S 1C0
GravelParking(s)
49Picture(s)
75.26Acre
Exit Realty Town & Country
C$699000
Residential Income For Sale
1023 Clarence Road, Bridgetown NS B0S 1C0
GravelParking(s)
75.26Acre
Exit Realty Town & Country
W
C$699000
Residential Income For Sale
1023 Clarence Road, Bridgetown NS B0S 1C0
Exit Realty Town & Country
C$699000
Land For Sale
No 19 Highway, Lake O'Law NS B0E 2A0
NoneParking(s)
6Picture(s)
154Acre
Re/Max Park Place Inc. (Antigonish)
C$235000
Land For Sale
No 19 Highway, Lake O'Law NS B0E 2A0
NoneParking(s)
154Acre
Re/Max Park Place Inc. (Antigonish)
1
C$235000
Residential For Sale
32 Duck Pond Drive, Westfield NS B0T 1B0
2Bedroom(s)
1Bathroom(s)
GravelParking(s)
19Picture(s)
636
Engel & Volkers (Liverpool)
C$299000
Residential For Sale
32 Duck Pond Drive, Westfield NS B0T 1B0
2Bedroom(s)
1Bathroom(s)
GravelParking(s)
636
Engel & Volkers (Liverpool)
D
C$299000
Residential For Sale
32 Duck Pond Drive, Westfield NS B0T 1B0
Engel & Volkers (Liverpool)
2Bedroom(s)
1Bathroom(s)
C$299000
Land For Sale
Stewiacke Road LOT 1, South Branch NS B0N 2P0
NoneParking(s)
5Picture(s)
2.03Acre
Royal LePage Atlantic (Enfield)
C$69900
Land For Sale
Stewiacke Road LOT 1, South Branch NS B0N 2P0
NoneParking(s)
2.03Acre
Royal LePage Atlantic (Enfield)
S
C$69900
Land For Sale
Lot River Denys Road, Judique NS B0E 1P0
GravelParking(s)
12Picture(s)
4Acre
Keller Williams Select Realty(Sydney,Townsend St.)
C$69000
Land For Sale
Lot River Denys Road, Judique NS B0E 1P0
GravelParking(s)
4Acre
Keller Williams Select Realty(Sydney,Townsend St.)
W
C$69000
Land For Sale
Lot River Denys Road, Judique NS B0E 1P0
Keller Williams Select Realty(Sydney,Townsend St.)
C$69000
Land For Sale
100B Dockview Lane, Hammonds Plains NS B4B 1N7
NoneParking(s)
2Picture(s)
4.50Acre
EXP Realty of Canada Inc.
C$299900
Land For Sale
100B Dockview Lane, Hammonds Plains NS B4B 1N7
NoneParking(s)
4.50Acre
EXP Realty of Canada Inc.
B
C$299900
Residential For Sale
65 Wilfred Macdonald Road, Greenwood NS B0K 1W0
4Bedroom(s)
3Bathroom(s)
DoubleParking(s)
43Picture(s)
8,120
Coldwell Banker Maritime Realty
C$2775000
Residential For Sale
65 Wilfred Macdonald Road, Greenwood NS B0K 1W0
4Bedroom(s)
3Bathroom(s)
DoubleParking(s)
8,120
Coldwell Banker Maritime Realty
A
C$2775000
Residential For Sale
65 Wilfred Macdonald Road, Greenwood NS B0K 1W0
Coldwell Banker Maritime Realty
4Bedroom(s)
3Bathroom(s)
C$2775000
Land For Sale
Andreas Pop Dr., Evanston NS B0E 1J0
NoneParking(s)
2Picture(s)
2.22Acre
Cape Breton Realty
C$120000
C$120000
Land For Sale
Marble Mountain Road, Lime Hill NS B0E 3K0
NoneParking(s)
6Picture(s)
156Acre
Cape Breton Realty
C$299000
Land For Sale
Marble Mountain Road, Lime Hill NS B0E 3K0
NoneParking(s)
156Acre
Cape Breton Realty
W
C$299000
Residential For Sale
135 Whites Hill Road, Upper Clyde River NS B0T 1W0
2Bedroom(s)
1Bathroom(s)
GravelParking(s)
37Picture(s)
1,100
Keller Williams Select Realty (Shelburne)
C$449000
Residential For Sale
135 Whites Hill Road, Upper Clyde River NS B0T 1W0
2Bedroom(s)
1Bathroom(s)
GravelParking(s)
1,100
Keller Williams Select Realty (Shelburne)
C
C$449000
Residential For Sale
135 Whites Hill Road, Upper Clyde River NS B0T 1W0
Keller Williams Select Realty (Shelburne)
2Bedroom(s)
1Bathroom(s)
C$449000
Land For Sale
Meek Arm Trail, East Uniacke NS B0N 1Z0
OtherParking(s)
10Picture(s)
1.09Acre
Gold Star Realty Limited
C$269995
Land For Sale
Meek Arm Trail, East Uniacke NS B0N 1Z0
OtherParking(s)
1.09Acre
Gold Star Realty Limited
B
C$269995
Residential For Sale
8825 1 Highway, Meteghan River NS B0W 1M0
4Bedroom(s)
2Bathroom(s)
DetachedParking(s)
49Picture(s)
1,551
Viewpoint Realty Services Inc. (Shelburne)
C$299000
Residential For Sale
8825 1 Highway, Meteghan River NS B0W 1M0
4Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,551
Viewpoint Realty Services Inc. (Shelburne)
G
C$299000
Residential For Sale
8825 1 Highway, Meteghan River NS B0W 1M0
Viewpoint Realty Services Inc. (Shelburne)
4Bedroom(s)
2Bathroom(s)
C$299000
Residential For Sale
105 Haines Road, North Range NS B0W 1H0
3Bedroom(s)
3Bathroom(s)
GravelParking(s)
46Picture(s)
2,435
Exit Realty Town & Country
C$669000
Residential For Sale
105 Haines Road, North Range NS B0W 1H0
3Bedroom(s)
3Bathroom(s)
GravelParking(s)
2,435
Exit Realty Town & Country
W
C$669000
Residential For Sale
105 Haines Road, North Range NS B0W 1H0
Exit Realty Town & Country
3Bedroom(s)
3Bathroom(s)
C$669000
Land For Sale
Lot 1 Highway 215, Kempt Shore NS B0N 2A0
GravelParking(s)
25Picture(s)
4Acre
Viewpoint Realty Services Inc.
C$300000
Land For Sale
Lot 1 Highway 215, Kempt Shore NS B0N 2A0
GravelParking(s)
4Acre
Viewpoint Realty Services Inc.
T
C$300000
Land For Sale
Lot 2 Highway 215, Kempt Shore NS B0N 2A0
GravelParking(s)
25Picture(s)
4Acre
Viewpoint Realty Services Inc.
C$300000
Land For Sale
Lot 2 Highway 215, Kempt Shore NS B0N 2A0
GravelParking(s)
4Acre
Viewpoint Realty Services Inc.
T
C$300000
Land For Sale
Lot 3 Highway 215, Kempt Shore NS B0N 2A0
GravelParking(s)
25Picture(s)
4Acre
Viewpoint Realty Services Inc.
C$300000
Land For Sale
Lot 3 Highway 215, Kempt Shore NS B0N 2A0
GravelParking(s)
4Acre
Viewpoint Realty Services Inc.
T
C$300000
Land For Sale
Lot 4 Highway 215, Kempt Shore NS B0N 2A0
GravelParking(s)
25Picture(s)
6Acre
Viewpoint Realty Services Inc.
C$300000
Land For Sale
Lot 4 Highway 215, Kempt Shore NS B0N 2A0
GravelParking(s)
6Acre
Viewpoint Realty Services Inc.
T
C$300000
Land For Sale
LOT Bald Rock Road, Bald Rock NS B3V 1K9
GravelParking(s)
21Picture(s)
19.90Acre
Sutton Group Professional Realty
C$224900
Land For Sale
LOT Bald Rock Road, Bald Rock NS B3V 1K9
GravelParking(s)
19.90Acre
Sutton Group Professional Realty
I
C$224900
Top 10 Myths that Trip Up First-Time Home Buyers
If you’re thinking about buying a home, you’ve probably received your share of advice from family and friends. Add to that the constant stream of TV shows, news segments, and social media posts that over-simplify the home buying process for easy entertainment.
With so much information to sift through, it can be tough to distinguish fact from fiction. That’s why we’re revealing the truth behind some of the most common home buyer myths and misconceptions.
Buying a home is a big decision, but it doesn’t have to be a scary one. If you arm yourself with knowledge and a qualified team of support professionals, you’ll be well equipped to make the right choices for your family and financial future.
Myth #1: You need a 20% down payment.
Plenty of buyers are purchasing homes with down payments that are much less than 20% of the total cost of the property. Today, you can buy a home with as little as 3-5% down.
There are multiple programs out there that allow you to have a lower down payment, and a lender or mortgage broker can talk you through which option is the best for you. Since you’re putting less money down, you’re a riskier borrower to your lender than people who put down a full 20%. Because of this, you will most likely need to pay mortgage insurance as part of your monthly payment.
Myth #2: Real estate agents are expensive.
Your agent is with you every step of the way throughout your home buying journey, and he or she spends countless hours working on your behalf. It sounds like having an agent is expensive, right? Well, not for you. Buyers usually don’t pay a real estate agent’s commission. Your agent’s fee is paid for at closing by the seller of the home you’re buying.1 The seller knows to factor this cost into the property’s total purchase price.
Myth #3: Don’t call a real estate agent until you’re ready to buy.
The earlier you bring in an agent to help with the purchasing process, the better. Even if you’re in the very early stages of casually browsing Zillow, a real estate professional can be a huge help.
They can create a search for you in the Multiple Listing Service (MLS), so you get notifications for every house that meets your criteria as soon as it hits the market. The MLS is typically more up-to-date than popular home search sites like Zillow and Trulia. Setting up a search a few months before you’re considering buying gives you a good idea of what’s out there in your town that’s in your budget. Reviewing the MLS and speaking with an agent as soon as possible can help you set realistic expectations for when you actually start the house hunting process.
Myth #4: Fixer-uppers are more budget friendly.
We’ve all watched the shows on HGTV that encourage people to go after fixer-uppers because they’re more affordable and allow buyers to eventually renovate the home to include everything on their wishlist. But, this isn’t always the case.
Sometimes, homes that need a lot of work also require a lot of money. Big renovations, like add-ons, a total kitchen remodel, or installing a pool, take a lot longer than it looks on TV. If you’re really interested in a fixer-upper, ask your agent to show you a mix of newer homes and older homes. If you fall in love with an older home that needs a lot of work, get some quotes from contractors before you buy so you know the real cost of the renovations and see if you can work them into your budget.
Myth #5: Your only upfront cost is your down payment.
Your down payment is big, but it isn’t the only money you’ll spend during the home buying process. At closing, you’ll pay your down payment, but you’ll also bring closing costs to the table. Closing costs are typically anywhere from 2-4% of the total purchase price of the home.2 This amount includes the cost for items like homeowners insurance, title fees, and more.
You’ll also need to pay for an inspection before closing, which usually costs a few hundred dollars. This price will be higher or lower based on the size of your new property. Your lender will also require an appraisal. An appraiser will come in and inspect the home to determine how much it’s worth. Depending on your lender, you may have to pay this when the appraisal is conducted or it might be rolled into your closing costs.
Myth #6: You need a high credit score to buy a house.
You don’t need perfect credit to buy the perfect home. There are loans out there that buyers with lower credit scores can qualify for. These are good options for people who have had credit issues in the past, but some of them come with additional fees you will need to pay. Speak to a few local lenders or mortgage brokers to talk through which options might be best for you.
Myth #7: You can’t qualify for a mortgage if you’re still paying off student loans.
While some buyers may feel more comfortable paying off their existing debts before taking the leap into homeownership, it’s not a requirement. When you’re applying for a mortgage, the lender takes a close look at your debt-to-income ratio.3 If you want to calculate this on your own, add up all of your monthly debt payments and divide those by your monthly income. When you’re lender does this, they’re trying to make sure that you will be able to afford your monthly mortgage payments along with your other existing payments. If your income is high enough to allow you to make all of these payments each month, having a student loan will most likely not stop you from getting a mortgage.
Myth #8: You should base your budget on what your lender approves.
How much house you qualify for and how much you can afford are two totally different numbers. When you prequalify for a mortgage, your lender will look at your income, debt, assets, credit score, and financial history to determine how much money you might qualify for.4 For some people, this number might be much higher than you thought because lenders tend to approve for the highest amount they think you can afford. But that doesn’t mean that’s how much you should borrow.
Instead, figure out how much house you can actually afford. An online mortgage calculator can be a good first step in determining this number. We recommend thinking about what you want your monthly payment to be as a starting point. And remember to include your principal, interest, taxes, and, insurance. You should also think about ownership expenses that aren’t part of your monthly payment, like HOA dues and maintenance.
Myth #9: It’s all about location.
You’ve heard the phrase. Location, location, location is basically the real estate industry’s motto, but we’ll let you in on a little known secret: It’s not always true. Yes, location is great to consider when it comes to school districts and commute times, but you also need to think about how the home will function for you and/or your family’s lifestyle. If a family of five is choosing between a one bedroom condo in the bustling city center and a 4-bedroom home out in the suburbs, the latter is probably the best, most functional choice for them. Also, by buying in a less sought after neighborhood, your property taxes will most likely be much lower!
Obviously, you might still want to choose an area with great resale potential, and this is something that your agent can speak to you about. They’re an expert in your city and are constantly monitoring buying and selling trends.
Myth #10: If you look hard enough, you’ll find a home that checks every box on your wishlist.
You’ve seen that famous house hunting show. And while we have our suspicions about how real it is, the one thing they get right is that almost every buyer needs to compromise on something. Yes, the perfect house that meets every item on your wishlist is probably out there, but it’s also probably double or triple your budget.
A long wishlist can be a great starting point for figuring out what you want and don’t want, but we recommend narrowing that wishlist down to the top five things that are important to you in order of priority. We also recommend noting on your wishlist what your absolute deal breakers are, like “must have a yard for our dog,” and noting what you can live without, like “heated bathroom floors.”
This is a great list to discuss when you first start talking to an agent. A good real estate agent will be able to look at your list and find properties that might work for you. By coming to that first meeting with realistic expectations and knowledge about home buying rather than a bunch of myths heard here and there, you’ll be able to start the process off on the right foot and be in your new house in no time.
WE’RE HERE TO HELP
Whether you’re a first-time buyer or a seasoned homeowner, there’s no reason to go through the home buying process without an advocate on your side. We’re here to answer your questions and do the hard work for you, so you can spend your time dreaming about your new home. Call us today to schedule a free, no-obligation consultation.
Wallace Lake Lots for Sale | Conquerall Mills
Wallace Lake Lots
Conquerall Mills & Lunenburg County
Lake
Very quiet, usually only paddle boats and canoes. Very private
Fish: Bass, trout and gaspereau.
Lake Depth can reach 35-40 feet; average is 15 ft.
Lot Details
Each lot has 160-200 ft of lake frontage and 450-600 ft deep.
One or two plateaus allow for building on higher ground.
Large lot located on protected Northwest Cove on Wallace Lake in Conquerall Mills, with convenient access to Hwy 103, Bridgewater and Lunenburg. Very private. Lake is Fed by 2 brooks. Very quiet lake; usually only paddle boats and canoes. Fish: bass, trout and gaspereau. Lake Depth can reach 35-40 feet; average is 15 ft. Private access road. 55 minutes from Halifax, 5 mins to Bridgewater, on the South Shore. Septic approved, surveyed, power poles are in and ready for your recreational or year round home to be built. Ideal lake for swimming, kayaking, paddle board and canoes in summer. Great for winter skating!
LOT DIRECTIONS:
Private access road with power lines. 55 minutes from Halifax, 5mi past Bridgewater, on the South Shore.Very private.
Driving Directions:
Take 103 past Bridgewater to end of the controlled access highway.
Turn left to Conquerall Mills at flashing light.
Drive 2.2 km. Turn right on Fitch Road.
Drive 1.6 km to end of Fitch Road to Lake Road – T-intersection
Turn right on Lake Road.
Take 1st road on right – Wallace Lake Acres road.
Proceed down Wallace Lake Acres Rd. about 2KM and turn right on Beechwood Dr.
Turn Right on Lakeview Drive.
Lots start on the left side of the road at the top of the hill.
The lake is on the Left 450-600 feet through the woods.
Property Facts
Lot Depth is approximately 600 Ft
Waterfrontage approximately 150 FT wide
Driveway can be built for approximately $4,000
Power Lines on site, Set up required
No restrictions on motor boats on lake
Lake is fed by two brooks
Lake depth can reach 35-40ft, average is 15ft
New Private Access Road
55 Minutes from Halifax, 5 Miles pas Bridgewater, on the South Shore
Road Maintenance
Road maintenance includes filling of pot holes (volunteers), several loads of road gravel per year spread mostly where needed. Primarily the Wallace Lake Acres road is maintained from the red gate back to the first intersection (Woodland Ave). Lakeview Drive now has a full time house at the end and will be maintained as needed.
The road is usually graded every 2 to 4 years as needed. Totally depends on its condition. Brush cutting along the roads is done by lot owner volunteers…usually in September each year.
Snow removal from driveways is the responsibility of the cottage owner.
We currently have 5 full time residents at site and luckily two have snow plow trucks and volunteer their efforts to clear to the red gate at the government road.
The full time residents who don’t have a snow plow usually hire John Fancy (out on the Fitch Lake Rd) to do the snow removal for the driveways.
Road maintenance back to Wallace Lake is handled by the Wallace Lake owners association.
Here are some details:
President, Peter Berrigan, 902-543-5695
Vacant Lot owners are charged about $30 yearly (tent or moveable camper), Dwelling and cottage owners $150 yearly.
Driveways are not constructed to allow owners to design their own driveway access. Cost for a switch-back driveway is about $4,000.00 per lot. Contact us for the names of a contractor who can give you a good price on this at cowansmithteam@supercityrealty.com
Sewage System
Perk Tests have been performed on all lots.If a land owner goes with our suggestion to the location of the septic, its not necessary to re-dig a soil test pit.As long as we keep within 20 to 30 feet of the old test pit.
If a land owner wants an entirely different layout….and the proposed system would be much more than that distance away from the soil test pit, then yes, technically we have to do another at the time we obtain a septic permit just to confirm soils have not changed in that distance.
Proposed septics are Sloping Sand Filters.These will handle from 1 to 10 bedrooms.That should be sufficient.
It’s not necessary for a new owner to build as we have indicated around the test pit….also, we do not know if someone wants to build a 1 bedroom home or 10 bedroom home with 3 bedroom guest house and loft apartment above a garage.Also, people may wish to build in a different location…so that can change things. Our plan simple confirms that a septic system and well can fit on a lot.
Prices can be affected by gravity feed system vs pump system.A pump system alone can add $4000 to the cost.
We see typical costs in this area for a standard gravity feed system around $14k.
Click Below for more info from Environment Nova Scotia:
Schedule A Viewing
Visit Us
- 128 Chain Lake Drive, Halifax
- Cowansmithteam@supercityrealty.com
- 902 452 1639
