Are Starter Homes Still Worth It in 2025? Here’s What Halifax Buyers Should Know The headlines haven’t exactly been encouraging lately!“Housing affordability hits record low.”“First-time buyers priced out again.”“Wait for rates to drop.” If you’re thinking about buying your first home in Halifax this year, it might feel like the odds are stacked against you. And honestly? It is a trickier market than we’ve seen in the past. But here’s what those headlines miss:Starter homes are still worth it—if you know what to look for! Let’s break that down. Why Buying Now Still Makes Sense (Even With Higher Rates) Yes, interest rates are higher than they were during the ultra-low era—but the market has adjusted. Prices have softened in some areas, bidding wars have cooled, and buyers finally have room to think and negotiate. If rates drop later in 2025 (as many expect), competition will only get worse. That means more buyers, more pressure, and higher prices. So instead of waiting for the “perfect time,” the better move is to buy when you find a good opportunity that fits your life and your budget.. not the headlines. Plus, if rates drop? You can refinance. What Actually Makes a Good Starter Home Not every affordable home is a smart buy, and not every smart buy looks sexy on Instagram. The key is spotting the right fundamentals. Here’s what I look for when helping first-time buyers in Halifax: The best starter homes aren’t always flashy—they’re functional, well-located, and priced so you can actually build equity over time. Recent Halifax Starter Home Wins Here are a few real-life examples of buyers I’ve helped recently (with details adjusted for privacy): What these buyers had in common: they weren’t looking for “perfect.” They were looking for smart. Is a Starter Home Right for You? Buying your first home is a big step. It’s normal to feel uncertain. Especially with all the noise out there. But if you’re feeling stuck or unsure where to begin, I’m happy to walk through your options with you. We’ll talk through the numbers, the neighbourhoods, the trade-offs, and whether buying now actually makes sense for you. Feel Free to have a look at my Buyer FAQs HERE or to start browsing what is on the market right now HERE Have a great day, Ryley Norman902-580-6226Rnorman@pressrealty.ca

As we step into 2025, the Halifax real estate market continues to be a promising opportunity for first-time home buyers. If you’re planning to purchase your first home this year, here are the key trends and tips to help you navigate the market confidently and successfully. 1. Halifax Real Estate Prices Are Still on the Rise 2024 saw Halifax’s single-family home prices reach record highs, with the average price hitting $605,950—a 4.4% increase from 2023. It’s important to note that this figure reflects the average price of single-family homes in Halifax Metro. Looking ahead, experts forecast a 4% rise in aggregate home prices by the end of 2025, bringing the average to approximately $532,064 across the entire Halifax Regional Municipality (HRM), including all property types (single-family homes, condos, townhouses, etc.). For first-time buyers, this means acting sooner rather than later may help you secure a home before prices increase further. 2. Mortgage Interest Rates Stabilize in Halifax After a period of fluctuating interest rates, 2025 brings a sense of stability to mortgage financing. With rates leveling out, you can plan your monthly payments with more certainty. This stability provides a great opportunity for first-time buyers to enter the market with confidence and take advantage of predictable borrowing costs. 3. Halifax Housing Inventory Remains Competitive Inventory in Halifax remains low, creating competition among buyers. Desirable neighborhoods often see bidding wars, making preparation key. First-time buyers should focus on getting pre-approved for a mortgage and being ready to act quickly when the right property comes along. 4. Why Halifax is Perfect for First-Time Home Buyers Halifax’s vibrant neighborhoods, walkable downtown, and proximity to nature make it a fantastic place to call home. Whether you’re drawn to the bustling North End or serene coastal communities, the city offers a variety of options for first-time buyers. Tips for First-Time Home Buyers in Halifax Entering the market for the first time can feel overwhelming, but these steps can help set you up for success in 2025: Final Thoughts on Buying Your First Home in Halifax For first-time home buyers, the Halifax real estate market in 2025 offers exciting opportunities, but preparation is key. With rising prices, stabilizing mortgage rates, and limited inventory, now is the time to take action. By staying informed and working with an expert, you can secure the home that’s right for you. If you’re ready to begin your journey as a homeowner, I’m here to help. As a local real estate professional specializing in first-time buyers, I’m committed to making the process as smooth and stress-free as possible. Check out local real estate listings here, and go through a few common questions and answers here.

Halifax City Council Approves Zoning Changes to Address Housing Crisis Halifax is addressing its housing crisis head-on with substantial zoning changes approved by city council. Supported by the federal Housing Accelerator Fund, these measures promise to reshape the city’s zoning guidelines and provide much-needed relief to the ongoing housing criss. Read on to discover the details of this transformative initiative. Downtown Halifax and Peninsula In alignment with the federal Housing Accelerator Fund (HAF), Halifax Regional Council has unanimously approved comprehensive zoning changes aimed at tackling the city’s housing crisis. These changes will significantly boost housing supply by enabling the construction of thousands of new units across the municipality. In downtown Halifax and the peninsula, the new zoning laws will facilitate higher density housing developments, particularly near transit corridors and educational institutions. Formerly zoned for single-family homes, these areas can now accommodate multi-unit dwellings of up to eight units per lot. This strategic move is intended to increase housing options for students and young professionals, leveraging existing infrastructure and amenities to support a higher population density. The increased height and density allowances will encourage the development of taller buildings, optimizing space and housing more residents in a compact urban environment. Dartmouth Dartmouth will experience targeted changes to accommodate growth while preserving its unique character. New and expanded heritage conservation districts, including the Ropeworks and Flower Streets, aim to balance increased density with historical preservation. This approach allows for the integration of modern housing needs with the area’s rich heritage, potentially supporting multi-unit residential buildings and mixed-use developments in downtown Dartmouth. Furthermore, Dartmouth will see the creation of new growth nodes, such as in North Woodside along Pleasant Street near the ferry terminal and Circumferential Highway. These areas are designated for significant future development, with detailed planning required to minimize potential conflicts between residential and industrial uses. This strategic planning will ensure that growth is managed effectively and sustainably. Suburban Areas Suburban neighborhoods will also benefit from the zoning changes, albeit with a more moderated impact compared to downtown. The amendments allow for up to four units per lot in suburban areas, adhering to existing setback and lot control standards to maintain the suburban character. These changes aim to increase housing availability while ensuring neighborhoods retain their community feel. Additionally, the elimination of minimum parking requirements will facilitate more efficient land use and reduce development costs, promoting sustainable urban growth. Housing Accelerator Fund These zoning changes are part of a broader initiative supported by the Housing Accelerator Fund, which will provide over $79.3 million to Halifax. This funding aims to eliminate barriers to housing construction, expedite permitting processes, reduce upfront costs, and incentivize the use of pre-approved building plans. It also includes provisions for converting commercial properties to residential use and expanding affordable housing grants. The federal and local authorities expect these combined efforts to facilitate the construction of more than 8,800 new homes over the next decade, significantly boosting the city’s housing stock. Conclusion Overall, the approved zoning changes represent a comprehensive strategy to address Halifax’s housing crisis. By enabling diverse housing developments across various neighborhoods, the city aims to create 15,000 new units annually over the next three years, setting the foundation for sustainable and inclusive urban growth. Zoning Map All areas affected by these new zoning changes can be seen on the map at this link.

PROPOSED HALIFAX & DARTMOUTH ZONING CHANGES   The following is some extremely exciting news for housing in Halifax & Dartmouth! The municipality has partnered with the federal government to push forward the new proposed changes to zoning under the Housing Accelerator Fund (HAF). I will gloss over the proposed changes, and at the end of this article you can find a link to an interactive map that will show where exactly these proposed changes may take effect.   WHAT CHANGES HAVE BEEN PROPOSED? Halifax is undergoing a significant transformation with proposed zoning changes set to reshape both Halifax and Dartmouth, ushering in a new era of growth and development. With substantial funding from the federal government’s Housing Accelerator Fund, the city aims to tackle its housing shortage by creating 15,000 new units over the next three years.   WHAT DOES THIS MEAN FOR DARTMOUTH? In Dartmouth, one of the key changes involves replacing single-family residential areas with zones that allow for increased density. This means medium-sized buildings, such as duplexes, townhomes, and small apartments, could be built on a single lot, bridging the gap between traditional homes and high-rises. Additionally, corridors around existing or planned transit routes in Dartmouth are slated for enhancements, potentially accommodating buildings of up to seven to nine storeys. These changes not only promote sustainable urban development but also improve accessibility and connectivity for residents.   THESE ZONING CHANGES COULD RESHAPE THE ENTIRE CITY In Halifax, the proposal includes allowing buildings of up to 40 storeys in certain “Centre areas,” up from the current limit of 30 storeys. These areas, which encompass regions like the Dartmouth approach of the Macdonald Bridge and parts of Quinpool Road, are poised for significant development. Additionally, the plan calls for the replacement of single-family residential areas with higher-density zones, such as ER-2 and ER-3, allowing for buildings up to 11 to 12 metres high. The goal is to create more “missing middle housing,” which refers to medium-sized buildings that fill the gap between single-family homes and high-rises.   HOW DO LOCALS FEEL ABOUT THESE PROPOSALS? While these changes signify progress, they are not without challenges. Residents have expressed concerns about the pace of growth and its impact on local communities. However, there is optimism that these adjustments will ultimately position Halifax and Dartmouth for a brighter, more vibrant future.   HOUSING AFFORDABILITY IS A KEY FOCAL POINT Furthermore, the proposal underscores a commitment to affordability and inclusivity. Measures such as inclusionary zoning aim to ensure that a portion of new developments remains accessible to individuals and families of varying income levels, fostering a more equitable and inclusive city.   HOPEFULLY THESE PROPOSALS BRING POSITIVE CHANGE As Halifax and Dartmouth embark on this journey of transformation, the proposed zoning changes represent a significant step forward in building more livable, sustainable, and vibrant communities for all residents. With careful planning and thoughtful implementation, these initiatives hold the promise of unlocking the full potential of both cities and creating a better future for generations to come.   WHERE WILL THESE CHANGES OCCUR? Check out the interactive map at this link to see exactly where these exciting changes may be taking place.

Five Things To Do Before You List Your Home Talk to a REALTOR® REALTORS® are professionals, and local experts. We have all the data and statistics to help you sell your home on time for the right price. We also have access to the MLS® System, the most powerful marketing tool for selling your home. As your REALTOR®, I will help guide you through the whole process. From setting a price, to managing showings and closing the sale. Prepare Your Paperwork REALTORS® and potential buyers are going to have a lot of questions. Dig out your tax bills, utility bills, warranties on appliances, and any other documents. That way you have them on hand should you need them. Repair and Replace It’s time to finish all of those small jobs that you’ve been putting off for so long! Take care of things that make your home look fresh and inviting like replacing lightbulbs, old electrical receptacles, touching up paint, cleaning windows, and tidying up outdoor spaces. Clean It Up Take some time to go through your house and declutter as much as humanly possible. Everything will need to be cleaned top-to-bottom before viewings, so get a head-start by getting rid of unneeded items, touching up paint, and scrubbing kitchens and bathrooms. Increase Your Curb Appeal The first thing potential buyers will notice is your driveway, front yard and the entrance to your home. Make it as inviting as possible by mowing the grass, cleaning up garden beds, touching up paint, and adding colour with planters or a hanging fern.

Is For Sale By Owner Right For You? Many people think they can save time and money by selling their homes without a REALTOR®. I’ve put together a list of FSBO facts to help you decide whether FSBO is right for you. These FSBO stats show that, while you can save some money on REALTOR® fees, you could also be faced with some unexpected challenges. For example, roughly 11% of sellers actually succeed at selling their home without an agent. And if they did? Those FSBO homes sold for about 22% less on average than agented properties, which often negates any savings! Real estate became a legitimate business in the early 1800’s. It has been around for close to two centuries for a reason. A real estate transaction is not quite the same as going to the store and buying just any product. There are a lot of factors at play, and there is a massive amount of money at stake. Let’s dive into the pros and cons of *For Sale By Owner. WHAT DID FSBO SELLERS FIND MOST DIFFICULT IN 2021? Canadian statistics on FSBO are not tracked as closely as they are in the United States. For that reason, I will be using numbers pulled directly from the National Association of REALTORS® website. Prepping the Home is the Most Difficult Task for 12% of Sellers If you’re wondering what the hardest part of selling FSBO is, over 12% of FSBO sellers said it was getting the home ready for sale.If you’re selling FSBO, you may feel overwhelmed by tasks such as staging your home properly, keeping the home clean for showings, taking care of repairs and touch ups, and maintaining your lawn and garden.While many of these are tasks you’ll have to do even if you have an agent, an agent can give you direction about what work is the most important to attract buyers. A good agent will even assist you in completing these tasks. 6% of FSBO sellers struggle to sell on time About 6% of FSBO sellers said selling their home within their ideal time range was the hardest part of their experience.Conveniently, selling within their desired time frame turned out to be the top reason people did choose a REALTOR®, according to 36% of agent-assisted sellers. That suggests selling fast is one of the top benefits that a REALTOR® can provide. In our current market, sellers are typically accepting offers within the first 4 days of listing their home.Non-REALTORS® simply lack the marketing skills or the network of interested buyers that an agent brings to the table — which help get a property sold fast. If you’re looking to sell fast, the safest bet is to get an agent to help with your sale. Pricing the home correctly was the most difficult task for 9% of FSBO sellers.  Most FSBO sellers simply look at what other homes are selling for in their area and choose a similar price. But that fails to take into account unique aspects of the home — such as unique features, or recent upgrades and repairs — that could affect your final sales price. Pricing your home is one of the most important parts of selling a home. Sellers need to find the sweet spot of not losing money by pricing too low and not losing prospective buyers by pricing too high. It can be difficult to take an unbiased approach to pricing your home, especially when the home holds sentimental value to you. As we’ll discuss in later FSBO stats, problems with pricing are part of the reason why FSBO homes sell for over 25% less on average than agented properties. On a $400,000 home, that could mean losing over $100,000 on your sale — way more than you’d pay in realtor fees! 10% of FSBO Sellers Can’t Stand the Paperwork. The second hardest part of selling on your own is completing the paperwork. This was ranked the toughest task by 10% of FSBO sellers. Completing the paperwork involved with a sale is a complicated process that most FSBO sellers struggle with. REALTORS® are trained on every piece of paperwork required for the sale of you home during their licensing program. On top of that, we must take mandatory courses annually to keep ourselves as sharp as possible on all forms. Even if you price your home correctly and find a willing buyer on your own, as a FSBO seller, you’ll handle a lot of the paperwork that goes along with a sale. While you can hire a real estate attorney to handle some of the paperwork, including the sales contract, this will likely cost extra at the time of closing. An attorney won’t provide you with the advantages that a REALTORS® offers, such as pricing your home and negotiating the most appropriate terms for you in your current situation. 5% wish they had more time to focus on selling FSBO can be so much work that a lot of people struggle to find the time for it. 5% of FSBO sellers say that finding enough time to devote to selling was the most difficult task for them. Not only do you need to focus on getting your home ready for sale (which is the most difficult task faced by FSBO sellers), but you also need to focus on finding buyers by marketing, holding showings, and negotiating with potential buyers. Doing this while also working a full time job can prove to be challenging. When you have an offer, you’ll have to do things like draw up a sales contract, negotiate terms, price and conditions. These are things that a REALTOR® would typically handle. After all that work, there’s a good chance that you’ll still end up making less money than if you just hired an agent in the first place. Only 6% of FSBO sellers list on the MLS About 91% of all homes for sale are listed on MLS®, but only 6% of FSBO sellers market their homes with

WHY YOU SHOULD CONSIDER PARTNERING UP TO BUY A HOME This is something that our generation seems afraid to discuss, but I believe it is an important thing to consider when thinking of buying a home. Being a part of the younger generation, I can empathize with most when it comes to the topic of housing affordability. With housing prices continuing to rise to all time highs, the odds of securing a mortgage continue to be stacked against us. I believe it is extremely important to remain creative in terms of your approach. Many young professionals are now being priced out of the market. While we’re unsure of what the housing market has in store, if prices continue to rise at their current pace, most of us will be stuck paying rent every single month for the rest of our lives. I became a REALTOR® because I am extremely passionate about home ownership. I paid rent for the first time when I was 17 years old. It did not take long for me to understand what that actually meant. My rent was going towards my landlord’s mortgage payment. When that money left my account, I would never see it again. My landlord probably made a small profit, and the rest went towards paying down her loan. She would see all of that money again if she ever decided to sell the property. As long as that house remained in decent shape, its value would probably increase. So, not only was I paying for her to own a property, but she was making money off of that property going up in value. Now, I’m not saying that I have anything against landlords. I actually feel the exact opposite. Landlords provide an important service. Not to mention, it is the number one way that middle class citizens in North America are able to climb out of the rat race and reach a level of financial stability. There will always be people that need temporary, or semi-permanent housing. I think it’s important that there are opportunities for everyday folks to not only provide that service to people, but to be given the chance to prosper through providing housing in an ethical way. Back to the topic of private home ownership, and the concept of partnering with a friend to buy your first home. A study done by the Financial Post in 2012 shows that the average Canadian moves every 5-7 years. If you’re renting, in most parts of the country, it’s safe to assume that you’re sharing the space with a roommate. As stated above, if you’re paying rent, you’re basically just pouring money into somebody else’s investment. So why has it not become common place to buy and share a home with your best friend, or for you and your partner to join forces with another couple to buy a place? I understand that everybody wants a house to call their own. I understand that the thought of living with the same person, or people, for 5+ year can be a tad daunting. Do you know what else is a tad daunting? Never being able to afford a home, ever. Imagine fuelling your landlord’s investment for the rest of your life because you couldn’t make a 5 year sacrifice to build equity in a home with one or two of your closest friends? After that first 5 years, there’s a good chance that you will have enough equity in that shared space for everybody to go their separate ways, with a down payment for a place to own by themselves. We should spend more time looking at home ownership as a business. Your landlord does. If your parents have made hundreds of thousands of dollars though home ownership, I’m sure they see it as a business as well. Most people don’t get into business independently. Start up costs are too high. There are too many risks. If you start to slip, so does your business. Most businesses have multiple pillars. Business owners aren’t ashamed because they are 50/50 partners with their friends. If you’re going to be paying rent and living with roommates anyway, why not take the risk and invest together? I’ve put together the following comparison to show you what your finances will look like in 25 years if you were to buy a home, or continue to rent. I’m sure that these are thoughts that you’ve already had, but it is eye opening once you see the numbers on paper. Over the course of 25 years those rent payments can really add up. I preach home ownership to my friends on an annoying level. Honestly, I wouldn’t be surprised if most of them had me on mute. At the end of the day, I chose this career path because I understand real estate, and the importance of home ownership. Everybody says that you should do what you love, and that you should try to have a positive impact on the world. Well, this is what I love, and if I convince just one person to get out of the cycle of paying rent, then I truly believe I have done something good. Give it some thought.

Nova Scotia’s real estate development history is intertwined with its broader history, encompassing the unique challenges, opportunities, and cultural shifts the province has experienced. Here’s a concise overview: Pre-Colonization to Early Settlement (Pre-1600s-1700s) Before European contact, the region was home to the Mi’kmaq people. European settlement began with the French in the early 17th century, establishing Port Royal as the first European settlement in North America north of Florida. Real estate during this period was about establishing basic settlements and trade outposts. British Rule and Loyalist Influx (Late 1700s-1800s) The region shifted to British control in the early 18th century, leading to English-speaking settlements and the expulsion of the Acadians. The American Revolution led to an influx of Loyalists (those loyal to the British Crown) to Nova Scotia, significantly increasing land development. The province became a strategic naval and military base for the British Empire. Industrialization and Urbanization (Late 1800s-1900s) The 19th and early 20th centuries witnessed the growth of industries like shipbuilding, mining, and logging. Towns expanded around these industries. Halifax, the provincial capital, grew in importance as a major Atlantic port, leading to more urban development. Post-War Boom (1945-1970s) After World War II, there was a housing boom in Nova Scotia, as seen in much of North America. Suburban developments began to emerge around major urban centers. Tourism and Heritage Preservation (1980s-Present) As the province’s natural beauty and rich history began attracting more tourists, there was a push to preserve and restore historic sites and buildings. This led to the revitalization of areas like Halifax’s Historic Properties. Heritage conservation has become a significant aspect of real estate development in Nova Scotia. Modern Era and Sustainability (2000s-Present) In the recent past, there’s been a focus on sustainable development, with increased interest in green building practices and urban planning that promotes walkability and mixed-use communities. The province has also experienced a resurgence in popularity as people seek a balance between urban amenities and natural beauty, leading to new housing and commercial developments. Throughout its history, Nova Scotia’s real estate development has been influenced by its geography, cultural shifts, economic changes, and the broader political context of Canada. The province’s unique charm, scenic coastal views, and rich history continue to shape its real estate landscape.

PRE-COLONIZATION – EARLY SETTLEMENT IN NOVA SCOTIA The pre-colonization and early settlement period of Nova Scotia spans from before the 1600s to the 1700s, a time characterized by Indigenous occupancy, European exploration, and initial settlement efforts. PRE-COLONIZATION Before European contact, the area now known as Nova Scotia was primarily inhabited by the Mi’kmaq people. They were part of the larger Algonquin-speaking peoples and had a well-established presence throughout what is now Nova Scotia, Prince Edward Island, and parts of New Brunswick and the Gaspé Peninsula. The Mi’kmaq lived in a seasonal migration pattern, moving between coastal regions in the summer for fishing and inland areas in the winter for hunting. EUROPEAN EXPLORATION The late 15th and early 16th centuries marked the beginning of European exploration in the region. John Cabot (Giovanni Caboto), an Italian explorer under the commission of England’s King Henry VII, is believed to have reached the Nova Scotian shores in 1497, though the exact location of his landing is debated. FRENCH SETTLEMENT The first European attempt at year-round settlement in Nova Scotia was made by the French. In 1604, Pierre Dugua, Sieur de Mons, along with Samuel de Champlain and others, established a settlement at Île-Saint-Croix. The harsh winter and scurvy led them to relocate, and in 1605, they moved to what is now Annapolis Royal, Nova Scotia, then called Port-Royal. This marked the establishment of the first successful European settlement in North America north of Florida. ACADIAN PERIOD The early 17th century saw the growth of Acadian settlements. The Acadians were French colonists who cultivated the land, creating a unique dike system for farming, particularly in the fertile Annapolis Valley. They established a peaceful coexistence with the Mi’kmaq and developed a distinct culture and community in the region. BRITISH CONQUEST The region became a battleground for European powers, primarily England and France, in their struggle for supremacy in North America. The Treaty of Utrecht (1713) ceded Acadia to the British, but the boundaries were poorly defined, leading to ongoing disputes. The British renamed the area Nova Scotia. The mid-18th century was marked by significant conflict, culminating in the Expulsion of the Acadians (1755-1764), a tragic event in which thousands of Acadians were forcibly removed by the British. EARLY SETTLEMENT DYNAMICS Throughout this period, real estate development was fundamentally different from contemporary practices. It was primarily about survival, establishing basic settlements, and exploiting natural resources. The European settlers had to adapt to a new environment, often relying on Indigenous knowledge and techniques for navigation, hunting, and winter survival. In conclusion, the pre-colonization to early settlement period in Nova Scotia was a complex era of Indigenous occupancy, European exploration, and colonial endeavors. It set the stage for the cultural, social, and political dynamics that would continue to shape the province in the centuries to come.