Halifax Nova Scotia Real Estate
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Halifax Real Estate Information
Assess Your Finances Does it Pay to Buy a Home or Simply to Rent?
If, like most first-time buyers, you are presently renting, it's easy to calculate your cost - simply, the monthly rent you pay. (Utilities, phone, cable, and other costs can be ignored in this comparison because they'll be approximately the same whether you rent or buy.) Remember that by renting a home you do not build equity in the property. When you terminate your lease any work put into the home is lost. By buying a home you are building equity each mortgage payment is saving for the future. One risk with home buying is that prices may go up but they can also go down. In Halifax the prices were high during the 1980's but fell later. There is a cycle to the real estate market and it is important to know where in the cycle you are before buying a home.
Further Information:
Planning Your Home Purchase
Checking Your Credit Rating
Pre-qualification and Pre-approval on a Mortgage
Becoming an Educated Buyer: Research Neighbourhoods
Becoming an Educated Buyer: Your List of Home Requirements
Assess Your Finances: Checklist
Assess Your Finances: Compare buying with renting
Assess Your Finances: Calculating the cost of homeownership
Assess Your Finances: What you can deduct
Interest Rates and How They Change
Closing Costs
Other Closing Costs
Figuring Out Your Monthly Income
Figuring Out Your Monthly Debt
Amount of Your Down Payment
How Much House Can You Afford?