Tag Archives: Houseing Market in Canada

Our Game Plan for Our New Home!

If you have been following our housing journey thus far you will know that it has been nothing shy of a roller coaster. BUT I am super happy to announce that we do in fact have a house! We closed and are waiting for the final things to happen. We officially own the house on June 30th however we won’t be moving until the following week or so. We want to be able to hopefully hook up internet on a day that my dad is off and he can check a few things.

The house we bough is straight from the 70’s. There is wallpaper in some rooms not completely but there is some which we will be removing thank god. And on top of it there would be some shag carpet that has got to go. Cosmetic wise there is not a whole lot. It is a split entry, 3 bedroom upstairs, downstairs has a place we can easily make a 4th bedroom for when our kids get older and want their own space. It also has a living room upstairs and downstairs it also has a rec room. We will eventually open up the space a lot more but for now the focus will be a lot of the upstairs. I will be taking the opportunity to be paint the entire house first upstairs and then downstairs. And the flooring my dad will be able to help us as well too. That will be huge save on money as we will just buy the flooring and he will help us when he is off for a day. This shouldn’t take too long but these simple fixes will also be nice to make the place our own. I already have colors picked out for them, my boyfriend is basically giving me all the freedom in terms of paint colors. Right now it has pale yellow in the kitchen, as well as white walls everywhere and a super retro bathroom also too.

Now on to the major things. The bigger things that we needed to have done was number one electrical. The electrical is dated for sure. Hopefully we can find a reliable person to check it out after we do our 2 week quarantine. This is a bigger issue we need to have fixed. The inspection had said there was an outlet in the bathroom that was humming. Due to being dated and for whatever reason. There is also a few plugs like one in the hallway that doesn’t have power to it. We need to address these in case something were to happen. Hopefully it won’t be too expensive however this was a huge thing that we need to address immediately before it becomes a bigger issue.

Next is there is a few cracks in the foundation. They are about or under a centimeter. I’m not entirely sure as I never received the reports (Boyfriend handles this thankfully!) and they also need to be checked. Whether they be repaired and see what happens. What we do know is that they are not leaking which is a huge thing. If they were leaking that could be a lot more problems for us in terms of mold or what not. But the fact that it is not leaking is great though the cracks being the size they are is a reason we want them addressed quickly. We do not want to have to worry about leaking in the future or if they were to get worse. The fact is a home over 40ish years old having cracks is not abnormal. It’s just taking care of them before they become un-fixable.

Lastly there is just figuring out the home and what not. Most of the things we would like to do is cosmetic. And once we get some of the bigger issues done we would also like to do things in terms of creating a backyard oasis. The good thing is behind our home is forest to there is not going to be any one building behind thankfully. We would like to get a fenced in yard as soon as possible whenever that might be. Not the entire yard but some of it so that the dog and kids can play safely. We also would like to have a gate towards the back to be able to explore and what not when the time comes too. This year we will probably get a quote and see what happens with the other two issues before doing the fence. Just because it might be pricey. We will be doing it in metal due to the price of lumber and so hopefully that is the cheaper alternative.

Overall we do want to get things like a swing set, an above ground pool, build a fire pit hopefully this year also. A fire pit will probably only cost a few hundred bucks for the bricks as we would like to build it. This is more of a nice relaxation spot for us when we have a bit of downtime to sit by the fire and relax and hang out in the cool air while roasting marshmallows or eating hot dogs too. Not to mention smores also! This will be a nice change and since we haven’t really ever had our own nice fire pit before this will be a good thing we both are looking forward to. We also would like to kind of map out the yard though to plan a bit where everything will go from the pool, to the hot tub eventually (Boyfriend would like one of those not me!) and then the fire pit and swings. The home is on septic so finding out the pipes and things will be huge in planning the backyard but I believe we have plenty of space to figure this out though.

Overall I know there will be some work to be done but this is our forever home and we couldn’t be happier. With the market the way it is there could have been a lot worse things happening in terms of housing and any house unless built under the last 5 years will have some sort of problems. It just is how much are you willing to do to it? Not to mention, if we were to pay more for a home with the same problems it might have been super skimped on trying to upgrade it and make it our own.

Oh yeah, And before I forget, Yes! I will be adding a section for home renovations to this blog so you can see what is being done in terms of before and after’s. I will also be posting these on pinterest as a lot of our inspiration has also come from there. Plus with a home so dated, why not share the progress as well with everyone!

Have you ever done major home renovations?
What was some of your biggest challenges for it?


Let me know in the comments below so I hopefully don’t make the same mistakes!

– Stacey

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Moving Stress, Buying in Canada 2021

As you may or may not know, Canada seems to be in a major housing crisis. There are homes going as much as 50-100k above asking in regular old neighborhoods. Trying to find a place to live has been nothing but stressful. Not to mention there are many folks who are being evicted due to their landlords selling the properties they have been living in. And apartments around the city, specifically Halifax are going anywhere from 1000+ for a one bedroom. So once someone is essentially left homeless or scrambling they now are finding it hard to find an affordable solution. Especially this is difficult if you have animals as well too.

If you are familiar with buying a house, it really was not this hard when we first bought a home about 8 years ago. You would simply find a home that you think you would like, and put an offer in. The sellers would than come back with a counter offer if they were not fond of your offer. And you would go until the home was inspected and everything fine and than you would be done and over with. There was no usual waiting period or holding offers it was pretty straight forward. Sure, if you were not fast enough there is a chance of losing the home to someone who maybe had finances in order quicker or perhaps you would lost it to someone who did put in a better offer but more likely than not you were pretty good on a home once you picked one you would like.

Fast forward to now, things are completely backwards. You no longer have time to wait and put in an offer. A home is listed on say a Thursday, and by Monday you will know if you are an accepted offer. There is a very short window for viewings and then they typically say close at a specific time and hold offers until 3-8 hours later. After that you will find out if you have won essentially. What you may or may not know is that there could be anywhere from 5-15+ people who are also putting an offer on the same home. Therefore you can no longer ask a few thousands above asking, You need to literally put your highest mac on the table and hope it is the best. You also have no idea what others put on their offers so essentially you are almost for sure going to be over paying for a home. It is a flex on who has the deepest pockets. In Nova Scotia more specifically there has been a lot of out of province buyers from Ontario and Quebec who are purchasing homes leaving Nova Scotians stranded with no where to live.

Essentially the new way of buying a home is in my opinion barbaric. Until the province or bank or whoever steps in to make it “fair” for everyone I don’t think it will let up anytime soon. You have to ask yourself what you are willing to pay for a home. Mortgage rates are so low due to this boom in housing for sale that they even do a stress test where they jump the rates up to 6% in order to see if you can survive the increase of you will end up having to sell again before the bank takes your home. Even homes that are outside of the city of Halifax that are normally going for asking are going anywhere from 60-110k over. What is weird is that there is no rhyme or reason as to what homes will go above asking or what will go slightly above asking. There is specific areas that are more expensive to buy in, ie: Directly downtown or close, Dartmouth or even Sackville which is super weird and never seen before. If the home is renovated you can nearly guarantee that they will be going at least 75k above the asking price. Some homes that we thought would go way above asking didn’t, others that we thought would go a bit above asking flew up to 100k+.

Another tactic that you hopefully know and do not fall for is that there are homes listed far under asking price. This is because they want to see more offers and where people are normally familiar with the market they are likely to be putting more into their offers. The best advice you can do is not to go over your max. Regardless of if the house is worth it or not. Do not go over the max you can do or you risk losing financing because the house is not worth what you paid. Another bit of advice would also be to make sure you have a proper down payment when it comes to buying a home. If not you risk losing financing as well based on the debt ratio that you will have when paying for mortgage payments etc.

And a final piece of advice, If you are able to on whatever website you use to look at homes, favorite ones you like and watch prices. There have been times that I see homes go from sale, to pending, back to sale and they have an increased price. Which suggests that the offers that the seller initially had gotten were too low and instead of putting the house for sale at the price they wanted to they did this in hopes to get more bites which didn’t work.

So where does that leave us? Well, I will be going more in depth about the journey that we took when it came to buying a house. As of the time of writing this we have had an accepted offer, and against all odds it was below asking price. There is a lot of work that will need to be done however we have to quarantine for 2 weeks upon arriving and we will hopefully get the painting done a lot before. I can tell you it is extremely disheartening and stressful to be putting offers on homes (That to be frank, are just not worth that much to begin with) And have them be 30-60k over asking and be denied.

Regardless we have out inspection tomorrow, I will hopefully have an update in the near future once the sale of this home is finalized and I will write up the amount of homes that we put offers on, the prices, and the bids to give you a better idea how crazy the market is. More of the math side of things. And hopefully I can share that the sale of the house is for sure!

Have you sold a home in Canada in this crazy market?
Are you looking to buy a home in Canada?


Let me know in the comments below and hopefully this can help you in your house hunting journey too!

– Stacey

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