The AgriDome, at the Nova Scotia Provincial Exhibition Grounds, Truro, NS


Yes, that's right, the Agridome has just gotten a whole new roof, to provide an even more impressive venue for your show or group's event!

The regular schedule resumes August 8/16 with our Annual Dutch Mason Blue Festival events...



Part of the Nova Scotia Provincial Exhibition Grounds in Bible Hill, Nova Scotia, The AgriDome is a multi-function building available year-round and is perfect for many different kinds of events:

  • + Auctions
  • + Auto Shows
  • + Flea Markets
  • + Concerts & Festivals
  • + Banquets & Receptions
  • + Industrial Trade Shows & Fairs
  • + Livestock & Agricultural Shows
  • + Sporting Events & Competitions

Our Work

With its unique structure, the AgriDome provides an inside venue with an 'outdoor feel'. The domed roof is constructed of steel and is covered by a light-porous fabric, manufactured right here in Truro. This unique roof provides a good proportion of natural light even on the darkest days. The concrete floor is easy to clean and allows for every kind of use from food kiosks to flea market booths, from banquets to animal stalls. For sporting events, high quality artificial turf is available for a low maintenance but responsive playing surface. Just image indoor soccer, all winter long!

The unique roof covering keeps the building warmer in winter, yet cooler in summer, and the 120' x 266' open space is heated by over 6 miles of in-floor radiant heating as well as overhead radiant heaters. With 31,900 square feet of space, the building can easily adapt to all kinds of needs & events, and is conveniently situated next to various other facilities within the Nova Scotia Provincial Exhibition Grounds, including practice ring, arenas, barns and canteen facilities.

Using natural light during the day keeps operation costs down, while at night the suspended lighting system ensures safety; acoustics in the Dome are also exceptional.

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Who needs private funding?

Many borrowers real-estate traders comprised believe of private lenders as a last resort alternative if they ca funding anywhere else. But personal funds have gained traction as a financing alternative due to mortgage rules determined from the government along with the continuing care being exercised by lenders.

What we've seen in this marketplace is a big resurrection on the investment home side, you will find all these traders moving right back into the market and they're tired of coping with all the banks rigorous parameters, meaning they're great with private money because it's fast and simple even though it's more expensive.

Something else that might drive property traders to personal lenders will be the insurance principles for self employed borrowers. These principles state that Business for Self (BFS) borrowers with more than three years in the exact same business, along with commissioned-income borrowers, are expected to offer conventional proof income (or 'third-party validation') to be eligible for financing. Those individuals who have recently become self employed and don't have third party validation can nevertheless apply to get a mortgage, but need to produce a 10 percent deposit.


Explaining private mortgages

Personal mortgage lenders run differently from banks as well as other lenders on many levels. One of the major distinctions is their source of capital: private lenders get their money through groups or personal investors of investors. Some larger lenders have a few different funding sources, or incorporate a pool of mortgages known as an MIKE (mortgage investment corporation) while smaller traders might only give out their very own money. In both cases, the personal mortgage is seen as a short-term investment which can be sold off in just a year or two as opposed to something to keep on a balance-sheet.

Another difference between personal mortgages and lender mortgages is the application process. Instead of the customer the house is the thing that gets the most attention from a personal lender. The reason being loans that are personal are uninsured, meaning the financial institution must fall back on the home should a default occur. Because of this, properties in rural locations or smaller cities likely won't be eligible for the maximum amount of money as an example 65 per cent LTV compared to 85 percent in a urban centre, using a personal lender.


Uses for private funds

Certainly one of typically the most popular borrower uses of personal funds is for second mortgages while they can be utilized for purchases of home. A second mortgage can supplement lender financing ( as several banks do not allow second mortgages). This will be the situation in the event the debtor qualifies for 75% LTV on a second mortgage from a bank, but needs and additional 10% to buy home.

Real-estate investors turn to private money lenders for a number of grounds. A common scenario McKitrick views is an investor who does fix that is and needs money to get a brief period of time before re selling a house.

Another case is when repair it up and the investor needs to purchase a troubled property an foreclosures, for example. An investor may buy with private funds, because banks often won't reach these sorts of properties and after the home creating a cashflow and is mended, they could obtain more affordable capital .


The costs

Although private mortgages can help borrowers get out of sticky situations or provide temporarily relief until the borrower can obtain a mortgage from a traditional lender, there are additional costs to consider.

First up is the higher interest rate, which can range from a couple of percentage points above a bank loan to upwards of 20 per cent. Lenders weigh the interest rate based on the loan to value needed, the property location and the overall risk factor of the loan. Campagnaro says most private lenders she works with charge between a 12 per cent and 15 per cent interest rate for a 90 per cent LTV mortgage, but she stresses that many of those lenders still only want to go up to a 80 or 85 per cent LTV. Since interest on income-producing properties is tax-deductible, it can provide relief from higher interest rates.

Other costs borrowers have to be aware of with a private mortgage are lender fees, mortgage broker fees, legal fees and an appraisal if a recent one isn't available.


Contact Us

The AgriDome is available for daily or even hourly rent; its adaptability is limited only by your imagination! Contact the AgriDome Manager Grant Milley at 902 895-4824, or by email.