Buying a Home in Canada

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click on "Real Estate Insider" in the column on the right.

Welcome to the Buying a Home in Canada website.

Unknown to most, a 1995 change in the rules of the MLS® System has led to the arrival of a new kind of real estate companies in Canada: firms for buyers only. Unlike traditional brokerages that take listings and sell houses, these new firms are different because they don’t. These people refuse to work with sellers in order to entirely dedicate themselves to the protection of purchasers. Working with either kind of company is at no extra cost on the purchase of an MLS® listing, but only these Exclusive Buyer Agents are free from legal commitment and obligation to any seller. Their only concern is how well we do on our purchase because we are the only kind of clients they work with. Their job literally depends on it. And a professional who desperately needs to impress is a great thing for any buyer to have on his side.

Alain Savard of Dartmouth Nova Scotia is the owner of HBI – Home Buyers Incorporated (one of those new firms), as well as the creator of the website According to him, Exclusive Buyer Brokerages will eventually lead to a split in the industry. He predicts that purchasers will soon refuse to deal with anyone with homes to sell and therefore force traditional REALTORS® to decide if they would rather work for buyers or sellers because the days of working for both will be over. Savard says that it is time for the industry to join the 21 st century. A lack of knowledge is the only reason the public is still putting up with the old-fashioned way of buying through a salesperson according to him. “Buyers are coming up with all the money and taking all the risks, is it too much to ask for them to at least be accompanied by their own kind of agent?”

Click on the video above to hear him tell you more about the 1995 change, his company, and this website. This site is unique and loaded with information you will not find anywhere else. For those of you who would like to know how to buy a home like a pro and don't mind investing a few hours, we suggest you read our home-buying manual found in the menu at the top. If you would rather watch videos, we suggest you start with our One-Hour Crash Course and then jump into the full Home Buying Course.


Mortgage Rates

Discounted rates found on the internet on February 23, 2024.

Fixed-Rate Mortgages

1-year closed: 6.64% (6.59%)
2-year closed: 5.84% (5.84%)
3-year closed: 5.09% (5.09%)
5-year closed: 4.69% (4.69%)
7-year closed: 5.64% (5.64%)
10-yr closed:   5.74% (5.74%)

Variable-Rate Mortgages

BofC’s Rate:   5.00% (5.00%)
Banks' Prime:    7.20% (7.20%)
5-year: Prime - 1.30% or 5.90%

Some rates may require CMHC insurance coverage. BofC stands for Bank of Canada. The rates in brackets are from February 16, 2024.

HBI - Home Buyers Incorporated 22 Giberson Drive, Dartmouth, Nova Scotia B2W 6J6, Tel: 902-452-0969, Fax: 902-435-4701 | Halifax Web Design by: immediac