There’s something inviting about a home that feels comfortable from the moment you walk through the door. At 5 Marriott Street, thoughtful updates, flexible living spaces, and a beautifully landscaped backyard come together to create a home that is both practical for everyday life and welcoming for gathering with family and friends.

This warm split-entry home has been cared for and improved over the years, offering a layout that gives its next owners plenty of room to settle in and make it their own.

A Bright & Comfortable Main Level

The main level begins with a spacious front entrance, setting the tone with stylish lighting and a welcoming feel.

The living room is bright and comfortable, with a large picture window bringing in plenty of natural light. Hardwood flooring runs through the space, while a heat pump provides efficient heating and cooling. For those who enjoy the warmth and atmosphere of a wood stove, the cast-iron stove adds an especially cozy touch.

Just beyond the living room, the updated eat-in kitchen offers a practical space for both everyday meals and casual gatherings. Updated cabinetry, warm wood countertops, and a classic subway-tile backsplash give the kitchen a timeless look, while the dining area provides an easy connection to the backyard.

Two generously sized bedrooms and an updated full bathroom complete the main level.

Flexible Space Downstairs

The lower level adds valuable flexibility to the home.

A comfortable rec room or family room provides additional space to relax, watch a movie, entertain, or create a dedicated play or hobby area. A third bedroom and second full bathroom are also located downstairs.

The layout offers the potential to create a fourth bedroom if additional sleeping space is needed, giving the home the flexibility to adapt as life changes.

Backyard Living

One of the standout features of 5 Marriott Street is the outdoor space.

The fully fenced backyard has been beautifully landscaped to create a private retreat just beyond the back door. Mature cedar hedges frame the front yard, while the backyard is filled with established fruit trees, including pear, apple, and plum.

Large garden boxes provide plenty of room for flowers, herbs, or vegetables, and a remote, scheduled irrigation system services both the front and back garden beds.

A large deck extends the dining area outdoors, creating a natural spot for morning coffee, summer meals, or evenings spent with friends. Walkout access makes the backyard easy to enjoy throughout the seasons, while a new shed provides convenient additional storage.

Thoughtful Updates Throughout

Beyond its appealing layout and outdoor spaces, the home has benefited from numerous thoughtful improvements over the years.

A radon mitigation system provides an additional layer of peace of mind, while the heat pump, updated kitchen and bathrooms, new shed, landscaping improvements, and other updates contribute to a home that has been thoughtfully maintained.

A Home Ready for Its Next Chapter

With three bedrooms, two full bathrooms, flexible lower-level space, and a backyard designed for both gardening and relaxing, 5 Marriott Street offers room to live comfortably today while leaving options for tomorrow.

Whether you're enjoying the warmth of the wood stove on a cool evening, stepping outside onto the deck for a summer dinner, or tending to the garden, this is a home designed around the everyday moments that make a property feel like your own.

Welcome to 5 Marriott Street.

For more information or to arrange a private viewing, contact Koree Burt 902-802-7739 at Coldwell Banker Maritime Realty.

I think real estate is a great investment, especially in a market which is as consistent as in Nova Scotia. There does not tend to be massive swings in value, making the investment a long-term growth plan.  Also, the cost to get into a house in comparison to other markets in Canada is relatively low.  Rents on the other hand tend to be on par with many other cities across the country.  This might be the reason we see far more apartments being built than condominiums – developers see a higher return on their investment by renting, than building to sell. However, renting your home comes with risk.  I’m going to tell you a recent story and some ideas of how to avoid the same situation my clients unfortunately found themselves in.

The investment property

It was perfect.  A gem of a single family home in immaculate condition, in a family friendly neighbourhood.  We saw the home before it even hit the market and wrote an offer the very same day.  Better still, as the sellers were leaving the province, we were able to get all of the furniture included in the deal.  It was immaculate, contemporary and when all was said and done, a turnkey rental property.

What happened to my clients?

My clients are semi-retired and wanted to use their investment property to generate a monthly income.  This is a great way to add to savings or a pension. After running a Kijiji ad, they were able to find a suitor after a couple of weeks.  The tenants seemed perfect and sold a convincing story, painting themselves and their dog in such a way to draw compassion and trust. They signed a lease and were allowed to move into the property after providing the landlords with a personal cheque. The cheques for both the damage deposit and the first months rent bounced.  Several false promises later, no money ever came.  Worse still, I caught wind through some industry connections that the tenant currently in their house had been convicted of fraud and was due to appear in court.  He has done this to 12 different families  across Nova Scotia.  

This happened to my clients in late October of 2018.  After a lengthy process with the tenancy board and the courts, the tenant will finally be evicted this month.  That’s four months of heartache, not knowing what condition their home will be in when they get back in and with four months of lost revenue.  I feel for them immensely and cannot wait to hear their terrible experience has come to an end.  

Renting on your own vs hiring a professional

I’ve always rented my own properties and have (knock on wood) generally had positive success.  The only time I ran into an issue was when I pushed my luck with the monthly rent.  Demand in the area was high and I had three people interested in the property.  Instead of picking the best tenant, I chose the highest bidder and it ended up costing me far more in the long run because they were a complete nightmare to deal with.  Lesson learned.  I prefer to aim slightly below market value so I can attract several suitors before choosing one who is going to look after my investment.  How do I rent them?  A Kijiji post and a $50 “Top Ad” accompanied with good photos (extremely important).  Success, every time. 

If you hire a professional rental agency, you might end up paying a finders fee or an ongoing monthly cost based on the amount of the rent.  This is also a completely acceptable option, it will just depend on what rate of return you are looking for.   A rental agency should also pre-qualify their potential tenants and this may include:

•         Reference checks

•         Credit checks

•         Job employment status/history

You of course, can also perform these checks yourself and I recommend that you do.

Key Point

No matter how much someone assures you they are a good person, check their references and do your due diligence.  Any reasonable person will expect you to perform these checks and if they object, that should be a massive red flag.  Also, before you give possession make sure the money is in your bank account.  You can accomplish this through an email money transfer or a certified bank draft.  NEVER give possession before you have confirmation of funds.  The moment they move in, the process favours tenants and it will take you months to evict them. 

Most tenants are respectful and easy to deal with.  However, you need to be on guard for the handful who are in it to take advantage of you and everything you’ve worked so hard to achieve.

What's the problem?

Without going into a great amount of detail, radon gas is not good for you and has been linked with lung cancer.  A recent survey published by Health Canada said that 7% of Canadians are living in homes with high radon levels.  Its an issue which has gained more attention in recent years, but its not yet getting the attention it deserves.  Radon levels are measurable and they can be mitigated fairly easily for a reasonable cost.  So why aren’t more people taking steps to do so?

Awareness

It’s difficult for people to grasp the potential magnitude of a problem when it is invisible.  If a roof leaks or an appliance stops working, you are very aware of it and will take steps to fix the issue.  However, when the problem is not obvious, it is extremely easy to overlook or ignore.  A radon test can be completed in one of two ways.  For your own home, you can spend a mere $46 on a 91 day radon detection kit from the Nova Scotia Lung association.  You pick up the package, place the radon detector in your home and then mail it back for test results upon completion.  Done - peace of mind for less than $50.  If you are purchasing a property and would like to get a home tested, its not realistic to leave a detector in a home for 91 days.  In this scenario you can hire an inspector to conduct a radon screening assessment for you in four days, costing less than $250.  When your health is the matter at hand, I would suggest that such tests are worth every penny.

Expectations today

Radon is everywhere and the homes it affects are impossible to predict.  Certain areas are more prone than others as per the Nova Scotia Radon Map, but levels can vary significantly from house to house.  As homes become more efficient and allow less warm air to escape, there’s a greater potential for this gas to build up. As of eight years ago, it was a code requirement for new homes to be “roughed in” for radon mitigation (a vent pipe below the foundation).   A system can then be installed which is essentially an extension of the pipe and a ventilation fan to remove the gas from the property.  Radon can be detected and it can be easily mitigated for a reasonable cost. Take the steps to ensure it is.

Scary stuff.  Well, not really.  A highly publicized lawsuit settled in 2012 put a big black mark on that bright orange plumbing.  On a regular basis, I hear people talking about the product and the stigma surrounding it.  So I decided to call a reputable plumber to ask his opinion of the pipe and what the drawbacks are.  I am not a plumber and do not claim to be a professional in the field!  All information below is a regurgitation of the notes I took from our conversation.

There are drawbacks

This blog is not to claim the product does not have its failures.   My plumbing contact stated that failures occurred in systems operating at high temperatures between 180 and 200 degrees.  This is limited to hot water baseboard systems in homes.  Both in floor heat and domestic uses for showers etc operate at temperatures between 100 and 140 degrees.  According to the plumber I spoke to, the level of failure in these systems is no different than any other plumbing product.  Therefore, the potential drawbacks in these systems are almost non-existent by comparison.  Any plumbing can fail and all plumbing inspections should be completed by a professional to ensure the condition of the system is adequate. 

Other causes for plumbing failure

Our plumber said that well water with a higher mineral content will have an adverse effect on plumbing systems.  This does not only apply to Kitec pipes, but to a variety of different products.  It is important that you have a water treatment system that will protect the components of your home. 

How to spot Kitec plumbing issues

Because heat is highest at the source near the boiler, this is where you will likely see the first signs of failure.  High heat operation causes the joints to separate and in turn, the pipes to split.  In this case, you might see black discolouration on the pipe.  You might also notice a white residue where fittings have degraded due to poor water quality.  When installed correctly floor heating systems should have no joints or fittings throughout the entire floor except at the source.  In this case, signs should be fairly easy to spot.

Will Kitec plumbing affect my home's value?

If you have a baseboard system, I would unfortunately say that yes it will.  You may be asked to change the plumbing or install heat pumps instead.  If not, the buyer is taking on a higher level of risk and they would likely want to be compensated for that risk.  In the event neither of these situations occur, your pool of buyers will shrink because less people are willing to take on said risk.  Fewer buyers willing to consider a home with Kitec plumbing means the home will have to be priced more competitively.  If you have an in floor system, it is important that your Realtor is armed with knowledge to protect your asset.  Just because it has Kitec doesn’t mean it is a problem.  A report from a reputable plumber stating the condition of the plumbing would be a good way to put buyers at ease.

Can i get home insurance on a house with Kitec plumbing?

Yes, 100%.  I called two insurance companies this morning to see if there were any restrictions on the product.  TD insurance has no restrictions.  RBC insurance said they would insure the product but may request an inspection report prior to doing so.  Regardless, I would make sure your insurance company makes note of the Kitec in your policy to ensure coverage.

Should I buy a house with Kitec plumbing?

After my conversation with our professional plumber, I would say it depends completely on the application of the system.  Lower heat systems carry the same risk as other products so I would be comfortable in those situations.  However, regardless of the plumbing system I ALWAYS recommend you get it properly inspected so you can make an educated decision – any plumbing can fail.  Also, you may have to deal with buyers who are opposed to Kitec because of the fear created by the media and the lawsuit. But, if they have all the information above and have carried out proper inspections, low heat Kitec systems should not create a legitimate hurdle.  Furthermore, if you find the perfect house that happens to have a good Kitec system, are you really willing to lose the home? 

Written by,

Chris Perkins, Real Estate Consultant

Are you considering selling your home without the assistance of a Realtor? Selling your house privately, also known as "For Sale by Owner" (FSBO), can be an enticing option for homeowners looking to save on real estate agent commissions. However, it comes with its own set of advantages and disadvantages. In this article, we'll explore the pros and cons of taking the FSBO route and provide insight into the costs involved.

Pros of Selling Your Home Privately:

1. Cost Savings: One of the primary reasons homeowners choose FSBO is to avoid paying real estate agent commissions, which typically amount to around 4-5% of the sale price. By selling your home yourself, you can potentially save that amount of money. 

2. Control Over the Sale: When you sell your home privately, you have complete control over the sales process. You can decide on the listing price, marketing strategies, and negotiation terms, allowing you to tailor the sale to your preferences.

3. Direct Communication: FSBO sellers have direct communication with potential buyers, which can lead to a more personalized and efficient sales experience. You can address buyer inquiries promptly and provide detailed information about your property.

4. Flexibility in Timing: You can choose when to list your home and schedule showings at your convenience. This flexibility can be especially beneficial if you have specific timing requirements for your sale.

Cons of Selling Your Home Privately:

1. Limited Exposure: One of the biggest challenges with FSBO is the limited exposure your property receives. Realtors have access to multiple listing services (MLS), which greatly expands the reach of your listing. Selling privately may result in fewer potential buyers seeing your property.

2. Marketing Expertise: Real estate agents are skilled at marketing properties effectively. Without their expertise, you may struggle to create an attractive listing, stage your home, and implement a comprehensive marketing plan to reach a broad audience.

3. Pricing Challenges: Determining the right listing price can be challenging for FSBO sellers. Overpricing can deter buyers, while underpricing can lead to financial losses. Realtors use market analysis to help set an optimal price.

4. Time and Effort: Selling a home is a complex process that requires time and effort. As a FSBO seller, you'll be responsible for tasks like conducting showings, negotiating offers, and handling paperwork, which can be overwhelming, especially if you're inexperienced.

5. Legal and Financial Risks: Without professional guidance, you may be at risk of making costly legal or financial mistakes. Realtors are well-versed in real estate law and can help navigate potential pitfalls.

The Cost of Selling Your Home Privately:

While FSBO can save on realtor commissions, it's essential to consider other costs, including:

1. Marketing Expenses: You may need to invest in marketing your property through online listings, signage, photography, and advertising.

2. Legal and Administrative Fees: You might need to hire a real estate attorney or pay for document preparation services to ensure a legally sound transaction.

3. Staging and Repairs: Preparing your home for sale may require spending on staging, repairs, or renovations to enhance its appeal.

4. Time: Your time and effort are valuable resources, and the hours you invest in selling your home privately should be factored into your cost considerations.

Selling your home privately through FSBO can offer cost savings and control over the sales process but comes with limited exposure, marketing challenges, and potential risks. Before deciding, carefully weigh the pros and cons, and consider seeking legal and financial advice to ensure a successful and financially sound home sale. Ultimately, the decision should align with your goals, resources, and level of comfort in navigating the complex real estate market independently.

Meet with Coldwell Banker Maritime Realty before making a decision

Market evaluations with Coldwell Banker Maritime Realty help you determine what your home is worth.  This is a completely free service with no obligation and the information is extremely valuable. At the same time, you'll learn all about the marketing and services CB Maritime offers, so that you can make the best decision when choosing to list with a Realtor versus selling privately. 

Book a Free Home Evaluation

Free Home Evaluation. Priceless Information.

Are you considering selling your home in the Halifax area? You're in the right place! At Coldwell Banker Maritime Realty, we understand that selling your home is a significant decision. That's why we've created a comprehensive guide to help you navigate the process successfully.

Why Sell Your Home in Halifax?

Halifax, the vibrant capital city of Nova Scotia, is a prime real estate market. With its rich history, stunning coastal scenery, and a booming economy, it's no wonder Halifax is a sought-after place to live. The city offers a unique blend of urban and natural attractions, making it a desirable location for buyers. In addition to that, the real estate market in the last number of years has seen real estate values skyrocket.  Even amid rising interest rates, home sellers are in a great position to capitlize on the market to sell their home for the most amount of money possible. 

Preparing Your Home for Sale

Before listing your property, it's essential to make it as appealing as possible to potential buyers. Consider these tips:

• Home Staging: Present your home in its best light by decluttering and arranging furniture strategically.

• Curb Appeal: Boost your home's exterior appeal with landscaping and maintenance.

• Home Inspection: Address any issues that might deter buyers.

Pricing Your Home Right

Determining the right asking price is crucial. Our expert team can help you with a comparative market analysis to ensure your home is competitively priced in the Halifax market. Learn more about pricing your home here. 

Marketing Your Home

Our innovative marketing strategies ensure your property gets maximum exposure:

• Professional Photography: Showcase your home's best features with high-quality photos.

• Online Listings: Your property will be listed on popular real estate websites.

• Listing Magazine: A high quality publication to show off the best parts of your home.

• Drone footage: Aerial shots to get a view of all your property has to offer. 

• 3D Tours and Floorplans: Attract buyers from other areas with virtual tours. 

• Social Media Campaigns: Reach a broader audience through targeted advertising.

• Open Houses: Arrange open house events to attract potential buyers.

Negotiation and Closing

Leave the negotiation process to us. We'll work diligently to get you the best possible deal. Our team will also provide guidance and support through the closing process, ensuring a smooth transition for both you and the buyer.

Contact Us Today

Ready to start the journey of selling your home in Halifax, Nova Scotia? Reach out to us for a free consultation. We'll answer your questions and provide personalized guidance to kickstart the process. Call us at 902 441 2818 or email us at clientcare@cbmaritimerealty.com.

Stay Informed

Stay up-to-date with the latest real estate trends and selling tips in Nova Scotia by regularly visiting our blog. We're here to support you every step of the way as you start the exciting journey of selling your home in Halifax.

Free Home Evaluation. Priceless Information.

Are you considering selling your home to upgrade to a new one? Whether you're looking for more space, better amenities, or a different location, upgrading your home is an exciting endeavor. However, it's essential to navigate the process effectively to maximize your property value and ensure a seamless transition. In this article, we'll provide you with a step-by-step guide on how to upgrade your home efficiently.

1. Proper Preparation to Maximize Property Value:

Before listing your existing home, take the time to prepare it for sale. This includes decluttering, making necessary repairs, and enhancing its curb appeal. A well-maintained and visually appealing home is likely to fetch a higher selling price. Consider consulting with a Realtor to identify key areas that can increase your home's value.

2. Pricing it Correctly:

Setting the right price for your current home is crucial. Your Realtor can help you conduct a comparative market analysis (CMA) to determine a competitive listing price. Pricing too high can deter potential buyers, while pricing too low can result in missed opportunities. Striking the right balance is essential to attract the right buyers and maximize your returns.

3. Choosing the Right Closing Date:

Selecting a closing date that aligns with your plans to find a new home is critical. This coordination can help you avoid the stress of temporary housing or rushed decisions. Work with your Realtor to plan a closing date that allows you ample time to secure your next property.

4. Determine Your Financial Borrowing Power:

Before moving forward, assess your financial situation to determine how much you can afford for your new home. Calculate your budget, considering down payments, closing costs, and monthly mortgage payments. Consulting with a mortgage professional can help you understand your borrowing power and secure pre-approval for a new mortgage.

5. Assess Mortgage Portability:

If you have a favorable mortgage rate, check if it's portable. Mortgage portability allows you to transfer your existing mortgage to your new home. This can save you money by retaining a lower interest rate. Consult with your lender to explore this option.

6. Create a Wish List for Your New Home:

Make a detailed list of your preferences for your new home. Consider factors such as location, school districts, the number of bedrooms and bathrooms, and any specific amenities or features you desire. This list will serve as your guide when searching for your upgraded home.

7. Secure Your New Home First:

It's essential to find and secure a new home before committing to selling your current one. This ensures that you have a place to move into without the stress of temporary housing. Work closely with your Realtor to identify suitable properties and make offers that align with your selling timeline. There are several strategies your Realtor can use to secure a new home without negatively impacting your negotiating position. 

8. Leverage Your Realtor's Experience:

Your Realtor is your trusted partner throughout this process. They can help you plan and execute the entire transition, from preparing your current home for sale to finding your dream home. Their experience and expertise will assist you in selling your home for the maximum amount and making the moving process less stressful.

Start Planning Your Next Move

Upgrading your home involves careful planning and coordination of various aspects. By following these steps and enlisting the help of an experienced Realtor, you can navigate the process smoothly and successfully. Remember, your Realtor's primary goal is to make the transition as easy as possible while protecting your best interests, ensuring that you get the most out of both your current and future homes.

As we journey through life, our housing needs often evolve. For many, the idea of downsizing becomes increasingly appealing as it brings the promise of a simpler, more manageable lifestyle. Whether you're an empty nester, seeking to reduce maintenance responsibilities, or simply looking to embrace a cozier living space, downsizing your home can be a fulfilling and liberating choice. In this article, we'll explore some key considerations when looking to downsize and the numerous benefits that come with this transformative decision.

1. Embrace Less Maintenance:

One of the most significant advantages of downsizing is the reduction in maintenance and upkeep. A smaller home typically requires less time, effort, and expense to maintain. With fewer rooms to clean, a smaller yard to tend to, and less space to maintain, you can free up valuable time and energy for the things you truly enjoy.

2. Reduced Financial Strain:

Downsizing often leads to lower living expenses. Smaller homes typically come with lower utility bills, property taxes, and insurance costs. This financial relief can provide peace of mind and more financial freedom to enjoy your retirement years.

3. Simplify Possessions:

Moving to a smaller space necessitates decluttering and simplifying your possessions. This process can be liberating, allowing you to let go of items you no longer need or use. You'll find that a cozier home can provide a sense of tranquility and organization.

4. Fewer Responsibilities:

With a smaller home comes fewer responsibilities. You'll have less to maintain and manage, which can lead to reduced stress and a greater sense of freedom. This newfound simplicity can open up opportunities for travel, hobbies, and spending quality time with loved ones.

5. A Cozier, More Manageable Space:

A smaller home can offer a cozier and more inviting living environment. It often means less space to clean, heat, and cool, making it easier to maintain a comfortable and efficient living space.

6. Location Matters:

When downsizing, consider the location of your new home carefully. Choosing a home in a community that meets your needs and preferences is essential. Proximity to essential services, healthcare facilities, and recreational activities can enhance your quality of life.

7. Planning for the Future:

As you downsize, it's also an opportune time to consider your future needs. Think about accessibility features that may become important as you age, such as single-story living or easy-to-navigate layouts. This proactive approach can help you stay comfortably in your home as you grow older.

8. Emotional Attachment:

It's natural to feel emotionally attached to your current home, which holds cherished memories. Take your time to transition, and consider the emotional aspects of letting go. You can bring treasured possessions and memories with you to your new, cozier space.

9. Seek Professional Guidance:

Enlisting the help of a real estate agent experienced in down-sizing transitions can be invaluable. They can assist you in finding the right property, navigating the selling process, and making the transition as smooth as possible.

Book a Free Consultation

Downsizing your home can be a life-affirming choice that simplifies your daily life and allows you to focus on what truly matters. It's an opportunity to declutter, reduce financial stress, and create a cozier, more manageable living space. By carefully considering your needs, preferences, and future plans, you can embark on this transformative journey with confidence and enthusiasm, embracing a simpler and more fulfilling lifestyle.  Start the planning process today with the help of a Coldwell Banker Maritime consultant. 

Selling your home can be a significant undertaking, and it's only natural to want to get the best possible price for your property. To maximize your property's value, you'll need to make your home as appealing as possible to potential buyers. Here, we'll explore essential considerations for sellers when preparing their home for sale.

Curb Appeal

First impressions are everything, and the exterior of your home sets the stage for a buyer's entire experience. Focus on these areas:

• Landscaping: Trim bushes, mow the lawn, and plant flowers to enhance the overall appearance.

• Exterior Repairs: Fix any peeling paint, loose shingles, or broken steps.

• Front Door: A fresh coat of paint on your front door and a new welcome mat can work wonders.

Declutter, Depersonalize and Neutralize

Potential buyers should be able to envision themselves living in your home. To achieve this, follow these steps:

• Declutter: Remove excess furniture and personal items to create a sense of space.

• Depersonalize: Remove family photos and unique artwork that might make it difficult for a buyer to envision themselves in your home. 

• Neutralize: You might love exciting wall colours, but not everyone does!  Neutralize paint to appeal to as many people as possible.

• Hide Pet Evidence: As much as Leo the Lizard is a member of the family, it's smart to remove all evidence of pets so your buyers don't become distracted, scared or sneezy. 

Deep Cleaning

A clean home sends a message that the property has been well-maintained. Pay attention to:

• Professional Cleaning: Consider hiring a cleaning service for a thorough, top-to-bottom clean.

• Carpet and Floor Care: Clean or replace carpets, and polish or refinish floors for a fresh look.

Repairs and Maintenance

Addressing necessary repairs and maintenance is crucial to prevent potential deal-breakers:

• Inspect for Issues: Check for and repair any leaks, plumbing problems, or electrical issues.

• Home Inspection: Consider getting a pre-listing inspection to uncover hidden problems and fix them before listing.

Staging

Home staging can help potential buyers see the full potential of your home:

• Furniture Placement: Arrange furniture to create an open and inviting atmosphere.

• Lighting: Use proper lighting to accentuate key features.

• Decor: Add tasteful decor items to enhance the overall aesthetic.

Upgrades and Enhancements

Strategic upgrades can significantly boost your home's value, but it's important not to overspend:

• Kitchen and Bathrooms: Consider minor updates like new fixtures, counters, cabinet hardware, or a fresh coat of paint.

• Energy Efficiency: Installing energy-efficient appliances or upgrading insulation can be appealing to buyers.

• Paint:  A fresh coat of paint goes a long way in making a space feel fresh and clean. 

Professional Photography and Video

In today's digital age, quality photos and video are a must for online listings.  Once you've prepared your home for sale, it is important to properly capture all it has to offer:

• Professional Photography: Our professional real estate photographer will showcase your home in the best possible light.

• Virtual Tours: To give potential buyers a more immersive experience.

• Video: A commerical for your home to showcase all its best features. 

Pricing Strategy

Setting the right asking price is crucial, otherwise all your efforts in preparation will be wasted:

• Market Research: Research comparable sales in your area to determine a competitive price.

• Real Estate Agent: Consult Coldwell Banker Maritime Realtor for expert guidance on pricing your home.

The CB Maritime Role

Maximizing your property's value when selling your home requires careful attention to detail and a focus on key areas like curb appeal, decluttering, deep cleaning, repairs, staging, upgrades, photography, and pricing strategy. By investing time and effort in these aspects, you can make your home more appealing to buyers, increase your chances of a successful sale, and ultimately secure the best possible price for your property. Remember that working with a real estate professional can provide valuable assistance throughout the selling process.

CB Maritime agents help facilitate the entire preparation process - offering advice and helpful contacts throughout. They'll help you decide what aspects of your home to focus on and then provide the contractor services you need to execute the plan.  Once your home is ready, their marketing and pricing strategy will help you sell your home for the most amount of money, in the least amount of time. 

Book Your Free Consultation Below

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I’m not sure about you, but to me everything at the moment seems unreasonably expensive. The deodorant I like was on “sale” for $6.50 and I started to wonder if I’d really smell that bad without it. The other thing that stinks at the moment is the cost of borrowing money.  In twelve short months, the bank of Canada has raised interest rates from 4.79% to 7.09%.  While these aren’t the highest rates in history, the pain being felt is because of how low they’ve been in recent memory.  

The sticker shock of today’s rate environment has a lot of people dreading mortgage renewal time. We spoke to a mortgage specialist recently.  People walking into his office are terrified of making ends meet when their mortgage renews. This article is to discuss a few options for anyone who’s nervous about how they are going to afford their new mortgage payment.

Option 1: Extend the Life of the Mortgage

Some people are considering extending the remaining time of a mortgage when the renewal comes around.  Your 25 year mortgage would have 20 years left. You could refinance the mortgage to 30 years to soften the increase due to high interest rates. By extending the remaining life of the mortgage, you are spreading the payments over a longer term which decreases the payment amount.  You’ll be paying more interest in the long run but you could always pay it down more quickly when rates return to a more reasonable level.

Option 2: Leverage Your Home Equity

What is equity? Home equity is the difference between the value of your home and how much you owe on your mortgage. For example, if your home is worth $250,000 and you owe $150,000 on your mortgage, you have $100,000 in home equity.

The one silver lining with everything going is that the majority of people should have a fairly good chunk of equity in their homes.  If you bought a home five years go, you would have paid significantly less than you would today. The table below shows the average price of a home in the last 5 years:

How is this helpful?

On top of mortgage payments, you might be suffering while you attempt to pay down a line of credit, credit card or car loan.  By pulling some equity out of your home with a refinance, you could pay off some short term debt to lessen your total monthly payments.  Extending the mortgage to 30 years at the same time would keep those payments down as well. 

For example:

Yes, your monthly mortgage payments will increase. However, your total monthly debt payments will go down.  This option will take some discipline to ensure you don’t wrack up the credit card bills again once you feel flush with spending room. 

Option 3: If You Can’t Refinance, Selling is a Possibility. 

For some people, the option to refinance is not there.  Your credit score may have taken a beating over the past few years or your job situation may have changed.  Whatever the reason, if you can’t refinance your mortgage and feel overwhelmed by debt, you could still capitalize on the equity in your home to steady your ship. 

The housing market in Nova Scotia is still strong, even despite a significant slowdown in sales over the past year.  This is driven by a lack of inventory which is keeping prices stable. So, you can certainly sell your home with the help of a CB Maritime Agent.  You would receive all the equity in your home upon closing, minus the cost of selling.  You could use the funds to pay off debt and get into a rental for a period of time, while you rebuild your credit or obtain a new job.  When you’re ready to get back into the market, interest rates should have come down and homes will hopefully feel more affordable again. 

Don’t Panic, There Are Lots of Options. 

It’s easy to feel overwhelmed by debt. As a business owner who’s been self-employed his entire adult life, I’ve had that feeling a number of times.  There’s always a way out though, and sometimes that means asking for help.  Be proactive - Reach out to your mortgage specialist to look into your options before you’re in a position when it’s too late to do so. 

You can lean on us at Coldwell Banker Maritime Realty as well.  You might have no idea what your home is worth or the leverage you have from the equity you’ve built the past few years.  Our home evaluations are completely free and require no obligation that you sell your home with us.  We love empowering our clients to make the right real estate decisions.  Knowing the value of your home does just that. 

If you know someone who needs our help, please send us an email at clientcare@cbmaritimerealty.com or phone 902 441 4818. You can also fill out the contact form below. 

Resist Rushing to Market

When I first spoke with my client earlier this year, we had a decision to make.  He had a tenant who was currently living in the property but had given her notice to leave. We could have listed his home immediately and rushed to market. Instead, we decided to wait for the tenant to vacate the property so we could give it the attention it deserved to maximize the potential value. 

The tenant was by no means unclean, but it was clear belongings had accumulated in her time there (like they do for most of us!).  There were shelves and pictures all over the wall and a small, cute but slightly smelly cat who greeted me at the door.  A small space felt even smaller.  We needed a blank slate. 

Make it a Magazine

When the tenant moved out, the owner placed a huge amount of trust in me. He handed me the keys and gave me the go ahead to tackle whatever I felt was necessary to bring it to market.  Our painters came in to give the whole condo a much needed refresh.  Within a few days it was already looking remarkably better.  From there, our professional cleaners tidied up behind the painters so we could arrange for our stagers to do their thing.  Within a week, a tired and very lived-in rental property became something you might see in a magazine. 

Overcoming Obstacles

There were other challenges to sell this particular condo.  As you can imagine, an 1875 church requires more maintenance than a newer building.  We had countless showings thanks to our trademark marketing, but people were overall nervous.  Like owning a classic car, we needed to find someone who appreciated the character, and who was willing to see its potential when it was restored back to its former glory. 

Throughout the listing, I was in constant contact with the condo board to understand their plan to complete the exterior restoration. Thankfully, the members on this condo board were organized and responsive, which made it much easier for me to build confidence among our buyers. Learn more about what to look for when buying a condo here.  After 30 days on the market, we successfully obtained an offer. 

Selling Doesn't Need to be Stressful

Alone, the steps needed to sell this home may have felt overwhelming.  But, it’s my job to alleviate all that stress.  The owner placed significant trust in me to prepare his home for sale and then to rely on me to navigate the challenges we faced during the sale.  This didn’t happen easily or overnight, but that’s no longer the market we are in. It’s my job to help you overcome the hurdles we face amid high interest rates to ensure your sale is a successful one - to achieve the most amount of money possible, without losing your hair in the process!

Review from the client:

"Chris Perkins was my real estate agent when I bought my downtown Halifax condo in 2019 and again when I sold it this year. His professionalism, expertise, and dedication made the whole experience a breeze. He truly went above and beyond. Highly recommend Chris for both buying and selling! Thanks Chris!"

To learn more about how we can help you sell your home or take advantage of a Free Market Evaluation, reach out to Chris Perkins below.

This blog post provides some extremely important information to consider when buying a condo. It discusses the pros and cons and provides some helpful advice on everything to look for to make sure you are making the right decision!

The Pros Of Owning a Condo

Condos can offer a convenient, low maintenance lifestyle.  Many people looking to downsize or simplify their lives are tired of constant property maintenance, whether that’s landscaping, snow removal or ongoing upkeep of the exterior itself. In a condo, these items are almost always taken care of by the condominium property management company.  This allows the flexibility to lock the door and forget about it while you focus on more important things!

Many condos also offer common areas that act as an extension of your living space.  Some buildings offer basic amenities like a social room or gym. Others like The Roy, offer a lavish amenity floor that includes a pool and sauna, theatre room and yoga studio, to name a few!  This allows a resident the opportunity to enjoy where they live without actually having to leave the building. 

In addition, condos are generally located in more urban areas that provide quick and easy access to services like healthcare and grocery stores. Don’t feel like cooking?  Take a step outside your downtown condo and explore the numerous restaurants Halifax has to offer!

If you are looking for a convenient, low maintenance lifestyle, a condo might be the right choice for you. 

The Cons of Owning a Condo

As with any decision, there are definite cons of condo ownership which will depend on your own personal taste.  While most condos are pet friendly, they can sometimes limit the type of animal permitted or how many.  A pet policy will be found in the bylaws of the condo corporation, so it is important to understand all restrictions of the bylaws to ensure you’re not losing something you need.  Charcoal bbq’s are generally a no!  

While you are not directly responsible for the maintenance of the building, I still highly recommend taking part in board meetings.  You can choose not to take part in meetings, but will then have no say when the board makes decisions on repairs, maintenance or otherwise. If you don’t want to take part in meetings, be prepared to go with the flow! If you don’t want to go with the flow, be prepared to take part in meetings. 

Also, consider that your exterior space is going to be limited so if you still enjoy sculpting your gardens, you’ll have to grapple with letting that go.  Additionally, if you have more than one vehicle, you may have to find other parking nearby.

The cons of owning a condo depend on your lifestyle goals.  It’s important to consider what you want in life, before choosing a condo as a housing option.  

What to look for when buying a condo

Buying a condo is like buying into a business.  You need to ensure the building is managed properly and is in good condition before investing in it. A condo with low condo fees might look attractive on paper, but if the fees are low because the board is not maintaining the building properly, it could be a serious concern. 

When looking at potential buildings, you’ll have time to review condominium documents with your lawyer.  But even before that point, there are several clues you can pick up on when viewing a building. 

Entrance and Hallways:  Are they clean and how does the paint and flooring look? 

Landscaping and Snow removal:  Are the common area gardens well manicured and are the walkways cleared of snow and salted?

Critters: Is there evidence of a pigeon problem? Mouse traps could be pre-emptive measures, but should raise questions. 

Windows and balconies:  Are they in good condition or aging and in need of replacement?

Smells: You can’t control your neighbours cooking, but is there evidence of other smells like mustiness or cigarette smoke?

A well managed building might have slightly higher condo fees, but that is not a bad thing. It means the board has taken steps to ensure they are protecting the investment of every unit owner in the building. 

Condo Documents

When you buy a home, one of the most important investments is in a home inspection.  When buying a condo, it is equally important to take the time to review the condominium documents to ensure the building is in good health. There are several documents to consider:

Financials 

These statements show the budget for the building and where funds are allocated. It outlines plans for maintenance and renovations in the future.  Healthy financials are critical in protecting your investment in the building and the value of the individual units. 

Reserve Fund Study

Related to financial statements, a reserve fund study outlines a long term plan for maintenance.  This could span 25 years or more and helps the condo board determine how much money they will need in the future to replace big ticket items like a roof.  A portion of your condo fee is added to the reserve fund to save for these future expenses. 

Bylaws

We talked about pets earlier - whether you are bringing a cat, dog or a lizard, it is important to ensure the condo bylaws allow for it.  Many buildings will limit the number of animals you can have in a space.  They might not limit breeds, but they will focus on temperament.  If your dog is a barker like my extremely noisy weiner dog, a condo is likely not the best option.  

Meeting Minutes

The best way to understand the current standing of a building is to review meeting minutes.  During these meetings, boards and owners will discuss issues with the building or plans for improvements.  It’s easy to discover red-flags simply by taking the time to read them. 

Special Assessments

Sometimes when there isn’t enough money in the reserve fund to complete a repair or renovation, owners can be special-assessed.  This is a fee charged to an owner and might be in a lump sum or in several payments.  The advantage of a special assessment is that a board can improve the building without having to increase condo fees. The special assessment would be voted on by all owners before being passed. 

 Take the time to review all of the documents associated with a condominium before making the decision to proceed. Your lawyer can provide some valuable information during this period as well. Lean on us to help guide you through the process. 

Parking and storage

Always stand in your parking stall before you purchase a property!  Once during my time in Alberta, I heard a story of a Realtor who helped a client purchase a condo.  The condo was advertised with a parking stall, but did not specify where it was.  The buyer’s agent assumed it was an underground stall, but once the transaction closed they discovered that it was an above ground stall.  This is a significant thing when winters often see temperatures of -40 degrees. 

Beyond this extreme example, not all parking is created equal.  You need to determine if your car will fit in the garage, but also that the parking stall is big enough. Some parking spaces are between a wall and a pillar or have a mechanical component for the building dangling from overhead. 

The same goes for storage to a lesser extent.  But if storage is important to you while downsizing, go stand in that space!

Condos | The Verdict

Condos offer a convenient and low maintenance lifestyle, but do not release you from all responsibilities related to homeownership. There are numerous things to consider when selecting the right building to protect your investment while achieving your lifestyle goals. Lean on me to provide you all the information and knowledge you need to choose the condo that’s best for you.