As a Halifax realtor, here’s the advice I would give to my 3 kids to get on the property ladder in today’s market 🏡
Smart strategies for first time homebuyers can include:
🔹Know your budget and get pre-approved.
🔹Research what initiatives are available for FTHB – every little helps!
🔹Start small and think long term. A smaller home or fixer upper can help you build equity while keeping costs manageable. Don’t let cosmetic issues deter you – updates can be made over time.
🔹My favourite way to get on the property ladder is to consider properties with a rental unit or space for a basement suite to help offset your mortgage costs.
🔹Avoid buying at the top of your budget. Keep a financial buffer for unexpected repairs or emergencies.
🔹Halifax homes that are well maintained and reasonably priced are highly sought after, but don’t let the competition pressure you into overpaying. Stay focused on your budget and priorities.
🔹Think about resale value. Look for features that will appeal to future buyers, such as safe neighbourhoods, good school districts or properties with unique charm.
🔹Keep up to date with market conditions to make strategic decisions and be patient. The right home will come along with persistence and a clear plan.
🔹And most importantly, work with a knowledgeable realtor who understands the Halifax market. They can guide you towards properties with good value, future growth potential and help you navigate the buying process smoothly and with confidence!
🏡If 2025 is the year you feel ready to get on the property ladder, reach out and let’s chat. I’m here to help guide you every step of the way.
(Thanks to Maple 🐶for the snuggles)
Richard Payne REALTOR®
Halifax Homes and Lifestyles
eXp Realty of Canada inc.
902 489-1804
richard@richardpayne.ca
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