The Nova Scotia buyer's guide

Before you start touring homes, get clear on your budget. A mortgage pre-approval tells you what you can borrow, makes your offers stronger and shows sellers you're serious. In busy markets like Halifax and the South Shore, sellers often want to see proof of financing before they accept an offer.

Your lender looks at your income, credit history, existing debts and down payment. In Canada, a down payment of less than 20% means you'll need mortgage default insurance. First-time buyers may be able to use a First Home Savings Account (FHSA), and the Home Buyers' Plan lets you withdraw up to $60,000 from your RRSPs toward your first home, which you then repay over time.

Work with a mortgage broker or lender who knows Nova Scotia. Rates, the stress test and qualifying rules change, and a good broker will help you find the right product before you make your first offer.

Nova Scotia has real variety: Halifax's walkable neighbourhoods like the North End and South End, waterfront homes in Chester, historic towns like Lunenburg, and quiet acreage along the South Shore. Finding the community that fits how you want to live matters as much as the house.

Look beyond the photos. Visit a neighbourhood at different times of day, look into schools and amenities, and try the commute. In rural areas, ask about well water quality, the age and condition of the septic system, and heating costs, because they all affect what the home costs to own.

Nyssa will set up a search on the MLS® System so new listings that fit reach you quickly, and she'll share what she hears from other agents in the area. She'll also walk you through recent sales nearby, so you can make a competitive offer without overpaying.

Once accepted, an Agreement of Purchase and Sale is legally binding. It sets out the price, the closing date, the deposit and any conditions. Common conditions include financing, a satisfactory home inspection and a review of the Property Disclosure Statement. Don't waive conditions in a hurry; they're there to protect you.

The deposit is agreed in the offer and is due shortly after it's accepted. It's held in trust and applied to your purchase on closing. When several buyers are competing, a larger deposit can show commitment without changing the price you pay.

Nyssa will help you decide on an offer strategy for that home and that neighbourhood, looking at comparable sales and how long similar homes have taken to sell.

Due diligence usually includes a home inspection, a careful read of the Property Disclosure Statement and a title search by your lawyer. For rural properties, add well water testing and a septic inspection. These aren't formalities: they're your chance to understand exactly what you're buying before your offer becomes firm.

A home inspector will look at the structure, roof, foundation, plumbing, electrical and heating systems. Older Nova Scotia homes can have oil tanks, knob-and-tube wiring or materials containing asbestos, so it's worth knowing early. Ask your inspector to explain every finding in plain language.

Once your conditions are met, the deal is firm and your lawyer takes over the legal side: reviewing the agreement, searching the title and preparing for closing. Ask for a quote on legal fees up front.

Budget for deed transfer tax too. In Nova Scotia it's a municipal tax, so the rate depends on where the home is: in Halifax Regional Municipality it's 1.5% of the purchase price, and other municipalities set their own rates. Your lawyer will confirm the amount for your purchase.

The closing date is set in your offer and agreed by both sides. In the days before it, your lender sends the mortgage funds to your lawyer, who prepares the final documents. Your lawyer will tell you how and when to send the rest of the money you need to close.

On closing day the deed is registered in your name, any existing mortgage on the home is paid off, and everyone is paid. You get the keys once the seller's lawyer confirms the funds have arrived.

Arrange home insurance that starts on closing day; your lender will want to see it before releasing the mortgage funds. Afterwards, update your address with the CRA, Service Nova Scotia and your employer. Then, welcome home.