If you’re a homeowner over 55 in Halifax, you’ve likely noticed the market shifting under your feet. Prices are climbing, competition is stiff, and navigating your next move — whether that’s downsizing, refinancing, or adding a secondary suite — can feel like a maze. Let’s break down exactly what’s happening, what your options are, and how you can use today’s market to your advantage.

Rising Housing Costs and Affordability for Seniors

The average home price in Halifax hit $639,646 in March 2025, a 3.2% increase over last year. Single-family homes averaged $605,950 in 2024 — up 4.4% from 2023 — while condos are holding steady at $441,000, offering an attractive option for downsizers.

While Halifax is still more affordable than Toronto or Vancouver, the gap is closing. Demand is high, inventory is tight, and seniors on fixed incomes are feeling the squeeze.

What This Means for You:

• If you’ve owned your home for a while, chances are you’re sitting on a lot of equity.

• That equity can be leveraged through refinancing or downsizing to fund retirement or renovate for a secondary suite.

• On the flip side, rising living costs and property taxes may tighten monthly budgets — making smart housing decisions more important than ever.

The Demand for Condos and Low-Maintenance Living

Condos and townhomes are hot commodities for seniors looking to shed the snow shovels and mowing duties. Neighbourhoods like North End, Clayton Park, and Bedford offer modern units with elevators, walking distance to shops, and that lock-and-leave lifestyle.

New construction homes in the Halifax area are averaging $748,837, often built with seniors in mind: think single-level living, wide doorways, and energy-efficient systems.

Why It Matters:

• Downsizing to a condo or bungalow frees up equity and simplifies your lifestyle.

• These homes go fast — it’s not unusual to see multiple offers, especially on units with good accessibility and low fees.

 Housing Options Tailored to Seniors

Halifax offers a wide spectrum of housing choices, depending on your income, care needs, and lifestyle goals:

1. Public Housing (NSPHA)

• Available for low-income seniors aged 58+

• Rents based on income

• Heat, hot water, fridge, and stove included

• Accessible units available

2. Enriched Seniors Housing

• Independent living with light care supports

• Managed through Continuing Care Nova Scotia

• A good in-between for those who aren’t ready for full retirement homes

3. Private Retirement Communities

• Think dining plans, housekeeping, activities, and shuttles

• Prices vary widely but often range from $2,500–$5,000/month depending on services

Big Picture:
Whether you’re looking to simplify, save, or stay social, Halifax has options — and many come with opportunities to sell your current home and re-invest elsewhere, like in a secondary suite.

Secondary Suites: A Strategic Move for Seniors

Adding a secondary suite (like a basement apartment or backyard unit) is an increasingly popular way to:

• Generate rental income

• House a family member

• Plan for future care needs

• Boost your property’s value

Here’s how to make it happen in 2025:

Canada Secondary Suite Loan Program (CSSLP)

• Refinance up to 90% of your post-renovation value

• Loans up to $80,000, amortized over 30 years

• Must be self-contained and meet HRM bylaws

Why Seniors Love It:
That extra $1,900/month in rent (Halifax average for a one-bedroom) can go a long way toward offsetting expenses or supporting retirement.

NS Secondary and Backyard Suite Incentive

• Up to $40,000 in forgivable loans (50% of project cost)

• Suite must be for affordable rent or family use for 5 years

Ideal For:
Seniors in areas like Hammonds Plains, where lot sizes are large and zoning is more flexible.

Multigenerational Home Renovation Tax Credit

• Up to $7,500 credit for adding a suite for a senior (65+) or a disabled adult

• Pairs nicely with CSSLP and the $40K loan to really reduce out-of-pocket costs

 Financial Incentives to Make It All Work

Property Tax Rebate for Seniors

• 50% rebate up to $800

• Available to low-income homeowners 65+

• Apply by December 31, 2025

Efficiency Nova Scotia Rebates

• Heat pumps: up to $5,000

• Insulation/windows: up to $5,000

• Free upgrades for low-income seniors through Home Warming Program

Heating Assistance Rebate Program (HARP)

• $600 for heating costs (reopens October 2025)

• Ideal for those with oil, wood, or electric heat

Halifax-Specific Considerations

1. Zoning

HRM has loosened up zoning rules — most single-family zones now allow secondary suites. But compliance is key:

• Fire codes

• Parking requirements

• Permit fees (approx. $5.50 per $1,000 of work)

2. Healthcare

Access to healthcare is good, but some areas still struggle with doctor availability. Keep this in mind if you're planning multigenerational living.

3. Lifestyle

Seniors thrive in Halifax. Between the Seniors College Association of NS, library programs, and active community centres — there’s no shortage of things to do.

 Spotlight: Hammonds Plains & Secondary Suites

Large lots, quiet roads, and mature trees make Hammonds Plains a great candidate for adding suites. But with rising prices and development pressures, seniors here may want to act sooner than later to protect their stake in the neighbourhood.

Action Plan:

• Budget $50,000–$100,000 for a suite

• Apply for CSSLP, $40K forgivable loan, and $7,500 tax credit

• Use rebates for energy upgrades to boost appeal and lower bills

 What I Recommend

✔ Downsize or Renovate

Not sure what to do? I’ll help you assess whether it makes more sense to:

• Sell and move to a condo or retirement community

• Reinvest in your current home and build a suite

✔ Leverage Your Equity

With Halifax home values averaging $639,646, most longtime homeowners have more wiggle room than they think.

✔ Max Out Rebates & Programs

Let’s not leave money on the table. From heat pump rebates to tax credits, I’ll walk you through what you’re eligible for and how to apply.

✔ Make It Accessible

If you’re building a suite, plan ahead. Wider doorways, no stairs, and barrier-free bathrooms can future-proof your investment — for yourself or a loved one.

Let’s Talk

I’ve helped dozens of seniors across Halifax make the most of their real estate. Whether it’s downsizing, adding a suite, or just understanding what’s possible — I’ve got your back.