Stop Paying Rent!

How to Stop Paying Rent and Own Your Own Home

Don’t pay another cent in rent to your landlord!

It’s a dream we all have – to own our own home and stop paying rent. But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle? You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home

Well, don’t feel trapped anymore! It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem. The truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner. With this information, you will begin to see how you really can:

– save for a down payment

– stop lining your landlord’s pockets, and
– stop wasting thousands of dollars on rent.

6 Little Known Facts That Can Help You Buy Your First Home

The problem that most renters face isn’t your ability to meet a monthly payment. Goodness knows you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.

But saving for this lump sum doesn’t have to be as difficult as you might think. Consider the following 6 important points:

You can buy a home with much less down than you think.

There are some local or federal government programs (such as 1st time buyer programs) to help people get into the housing market. You can qualify as a first time buyer even if your spouse has owned a home before as long as your name was not registered. Ensure your real estate agent is informed and knowledgeable in this important area and can offer programs to help you with your options.

You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down-payment, if you are debt-free, and own an asset free and clear (such as a car, for example), your lending institution may be able to lend you the down-payment for your home by securing it against this asset.

You may be able to find a seller to help you buy and finance your home.

Some sellers may be willing to hold a second mortgage for you as a “seller take-back.” In this case, the seller becomes your lending institution. Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.

You may be able to create a cash down payment without actually going into debt.

By borrowing money for certain investments to a specified level, you may be able to generate a significant tax refund for yourself that you can use as a down-payment. While the money borrowed for these investments is technically a loan, the monthly amount paid can be small, and the money invested in both home and investment will be yours in the end.

You can buy a home even if you have problems with your credit rating.

If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation.

You can, and should, get preapproved for a home loan before you go looking for a home.

Preapproval is easy, and can give you complete peace-of-mind when shopping for your home. Mortgage experts can obtain written preapproval for you at no cost and no obligation, and it can all be done quite easily over-the-phone. More than just a verbal approval from your lending institution, a written preapproval is as good as money in the bank. It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.

Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter’s rut forever. Typically there is no cost or obligation to enquire.

To sum up, there are many important issues you should be aware of that affect you as a renter. Why on earth would you continue to lose thousands by throwing it away on rent when with your agent you could take a few minutes to discuss your specific needs so that you can stop renting and start owning?

This conversation costs you nothing. And, of course, you shouldn’t have to feel obligated to buy a home at the time you review this. But by taking the time to explore your options, and learn about the ways you can afford to buy a home, think how prepared and relaxed you’ll be when you are ready to make this important step.

How to Stop Paying Rent and Own Your Own Home

Don’t pay another cent in rent to your landlord!

It’s a dream we all have – to own our own home and stop paying rent. But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle? You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home

Well, don’t feel trapped anymore! It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem. The truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner. With this information, you will begin to see how you really can:

– save for a down payment

– stop lining your landlord’s pockets, and
– stop wasting thousands of dollars on rent.

6 Little Known Facts That Can Help You Buy Your First Home

The problem that most renters face isn’t your ability to meet a monthly payment. Goodness knows you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.

But saving for this lump sum doesn’t have to be as difficult as you might think. Consider the following 6 important points:

You can buy a home with much less down than you think.

There are some local or federal government programs (such as 1st time buyer programs) to help people get into the housing market. You can qualify as a first time buyer even if your spouse has owned a home before as long as your name was not registered. Ensure your real estate agent is informed and knowledgeable in this important area and can offer programs to help you with your options.

You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down-payment, if you are debt-free, and own an asset free and clear (such as a car, for example), your lending institution may be able to lend you the down-payment for your home by securing it against this asset.

You may be able to find a seller to help you buy and finance your home.

Some sellers may be willing to hold a second mortgage for you as a “seller take-back.” In this case, the seller becomes your lending institution. Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.

You may be able to create a cash down payment without actually going into debt.

By borrowing money for certain investments to a specified level, you may be able to generate a significant tax refund for yourself that you can use as a down-payment. While the money borrowed for these investments is technically a loan, the monthly amount paid can be small, and the money invested in both home and investment will be yours in the end.

You can buy a home even if you have problems with your credit rating.

If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation.

You can, and should, get preapproved for a home loan before you go looking for a home.

Preapproval is easy, and can give you complete peace-of-mind when shopping for your home. Mortgage experts can obtain written preapproval for you at no cost and no obligation, and it can all be done quite easily over-the-phone. More than just a verbal approval from your lending institution, a written preapproval is as good as money in the bank. It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.

Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter’s rut forever. Typically there is no cost or obligation to enquire.

To sum up, there are many important issues you should be aware of that affect you as a renter. Why on earth would you continue to lose thousands by throwing it away on rent when with your agent you could take a few minutes to discuss your specific needs so that you can stop renting and start owning?

This conversation costs you nothing. And, of course, you shouldn’t have to feel obligated to buy a home at the time you review this. But by taking the time to explore your options, and learn about the ways you can afford to buy a home, think how prepared and relaxed you’ll be when you are ready to make this important step.

9 Buyer Traps & How to Avoid Them

No matter which way you look at it, buying a home is a major investment. But for many home buyers, it can be an even more expensive process than it needs to be because many fall prey to at least a few of the many common and costly mistakes which trap them into either:

* paying too much for the home they want, or
* losing their dream home to another buyer or,
* (worse) buying the wrong home for their needs.

A systemized approach to the home buying process can help you steer clear of these common traps, allowing you to not only cut costs, but also secure the home that’s best for you.

This important article discusses the 9 most common and costly of these homebuyer traps, how to identify them, and what you can do to avoid them.

The 9 Buyer Traps

Bidding Blind

What price should you offer when you bid on a home? Is the seller’s asking price too high, or does it represent a great deal? If you fail to research the market in order to understand what comparable homes are selling for, making your offer would be like bdding blind. Without this knowledge of market value, you could easily bid too much, or fail to make a competitive offer at all on an excellent value.

Buying the Wrong Home.

What are you looking for in a home? A simple enough question, but the answer can be quite complex. More than one buyer has been swept up in the emotion and excitement of the buying process only to find themselves the owner of a home that is either too big or too small. Maybe they’re stuck with a longer than desired commute to work, or a dozen more fix-ups than they really want to deal with now that the excitement has died down. Take the time upfront to clearly define your wants and needs. Put it in writing and then use it as a yard stick with which to measure every home you look at.

Unclear Title.

Make sure very early on in the negotiation that you will own your new home free and clear by having a title search completed. The last thing you want to discover when you’re in the back stretch of a transaction is that there are encumbrances on the property such as tax liens, undisclosed owners, easements, leases or the like.

Inaccurate Survey.

As part of your offer to purchase, make sure you request an updated property survey which clearly marks your boundaries. If the survey is not current, you may find that there are structural changes that are not shown (e.g. additions to the house, a new swimming pool, a neighbor’s new fence which is extending a boundary line, etc.). Be very clear on these issues.

Undisclosed Fix-ups.

Don’t expect every seller to own up to every physical detail that will need to be attended to. Both you and the seller are out to maximize your investment. Ensure that you conduct a thorough inspection of the home early in the process. Consider hiring an independent inspector to objectively view the home inside and out, and make the final contract contingent upon this inspector’s report. This inspector should be able to give you a report of any item that needs to be fixed with associated, approximate cost.

Not Getting Mortgage Preapproval.

Preapproval is fast, easy and free. When you have a preapproved mortgage, you can shop for your home with a greater sense of freedom and security, knowing that the money will be there when you find the home of your dreams.

Contract Misses.

If a seller fails to comply to the letter of the contract by neglecting to attend to some repair issues, or changing the spirit of the agreement in some way, this could delay the final closing and settlement. Agree ahead of time on a dollar amount for an escrow fund to cover items that the seller fails to follow through on. Prepare a list of agreed issues, walk through them, and check them off one by one.

Hidden Costs.

Make sure you identify and uncover all costs – large and small – far enough ahead of time. When a transaction closes, you will sometimes find fees for this or that sneaking through after the “sub”-total – fees such as loan disbursement charges, underwriting fees etc. Understand these in advance by having your lender project total charges for you in writing.

Rushing the Closing.

Take your time during this critical part of the process, and insist on seeing all paperwork the day before you sign. Make sure this documentation perfectly reflects your understanding of the transaction, and that nothing has been added or subtracted. Is the interest rate right? Is everything covered? If you rush this process on the day of closing, you may run into a last minute snag that you can’t fix without compromising the terms of the deal, the financing, or even the sale itself.

One More Tip…

Find out if your agent offers a Buyer Profile System or “House-hunting Service,” which takes the guesswork out of finding just the right home that matches your needs. This type of program will crossmatch your criteria with ALL available homes on the market and supply you with printed information on an on-going basis. A program like this can help you to affordably move into
the home of your dreams.

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Residential For Sale

226 South West Cove Road, Port Medway, NS B0J 2T0

More Details

3Bedroom(s)

3Bathroom(s)

GravelParking(s)

49Picture(s)

2,523Sqft

Listing courtesy of Land & Sea Real Estate Services Inc

C$825000

Residential For Sale

226 South West Cove Road, Port Medway, NS B0J 2T0

3Bedroom(s)

3Bathroom(s)

GravelParking(s)

2,523Sqft

Listing courtesy of Land & Sea Real Estate Services Inc

L&S #1279. *** Visit Realtor.ca for 3D walk through ***. Commanding almost 1200 feet of meandering rocked up coastline, this well-loved year round home or cottage is privately situated on 8.4 acres offering spellbinding views that encompass a sprinkling of islands in Medway Bay, open ocean and, in the distance, the fishing boats and Lighthouse Park at Port Medway wharf.

C$825000

Residential For Sale

226 South West Cove Road, Port Medway, NS B0J 2T0

Listing courtesy of Land & Sea Real Estate Services Inc

3Bedroom(s)

3Bathroom(s)

C$825000

Residential For Sale

605-31 Kings Wharf Place, Dartmouth Ns B2y 0c1

More Details

1Bedroom(s)

1Bathroom(s)

UndergroundParking(s)

9Picture(s)

875Sqft

Listing courtesy of Century 21 Trident Realty Ltd.

C$485000

Residential For Sale

605-31 Kings Wharf Place, Dartmouth Ns B2y 0c1

1Bedroom(s)

1Bathroom(s)

UndergroundParking(s)

875Sqft

Listing courtesy of Century 21 Trident Realty Ltd.

Welcome to unit 605 kings wharf the keelson, this spacious one bedroom condo is open concept living at its finest, featuring stunning ocean views, stainless appliances, natural gas fireplace, in suite laundry, underground parking and more. The building offers a gym, guest suite and lounge room with condo fees including heat & water.

C$485000

Residential For Sale

605-31 Kings Wharf Place, Dartmouth Ns B2y 0c1

Listing courtesy of Century 21 Trident Realty Ltd.

1Bedroom(s)

1Bathroom(s)

C$485000

Residential For Sale

27 D'escousse - Cap La Ronde Road, D'escousse Ns B0e 1k0

More Details

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

21Picture(s)

1,439Sqft

Listing courtesy of Cape Breton Realty

C$189000

Residential For Sale

27 D'escousse - Cap La Ronde Road, D'escousse Ns B0e 1k0

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

1,439Sqft

Listing courtesy of Cape Breton Realty

Charming 3-Bedroom Home with Ocean Views & Endless Potential! Discover this beautifully updated home on a spacious lot, offering the perfect blend of comfort, style, and opportunity.

C$189000

Residential For Sale

27 D'escousse - Cap La Ronde Road, D'escousse Ns B0e 1k0

Listing courtesy of Cape Breton Realty

3Bedroom(s)

2Bathroom(s)

C$189000

Residential For Sale

12 Hunter Road, Milford Ns B0n 1y0

More Details

5Bedroom(s)

3Bathroom(s)

DetachedParking(s)

50Picture(s)

1,838Sqft

Listing courtesy of Royal LePage Atlantic (Enfield)

C$749900

Residential For Sale

12 Hunter Road, Milford Ns B0n 1y0

5Bedroom(s)

3Bathroom(s)

DetachedParking(s)

1,838Sqft

Listing courtesy of Royal LePage Atlantic (Enfield)

Hobby farm heaven awaits! This beautifully restored and updated 5 -bedroom, 2.5-bath century home on over 6 acres is perfect for those who cherish four-legged friends or crave the tranquility of rural living. The thoughtfully designed main floor features a stylish eat-in kitchen with a cozy woodstove and charming bay window bench seating.

C$749900

Residential For Sale

12 Hunter Road, Milford Ns B0n 1y0

Listing courtesy of Royal LePage Atlantic (Enfield)

5Bedroom(s)

3Bathroom(s)

C$749900

Residential For Sale

100 Meisners Point Road, Ingramport, NS B3E 3Z3

More Details

4Bedroom(s)

2Bathroom(s)

CarportParking(s)

50Picture(s)

1,644Sqft

Listing courtesy of Century 21 Trident Realty Ltd.

C$899500

Residential For Sale

100 Meisners Point Road, Ingramport, NS B3E 3Z3

4Bedroom(s)

2Bathroom(s)

CarportParking(s)

1,644Sqft

Listing courtesy of Century 21 Trident Realty Ltd.

Executive Oceanfront Retreat – Move in Ready. Welcome to this exceptional oceanfront residence located in the prestigious Shatford Trust Fund area of Meisners Point. Set on the shores of St.

C$899500

Residential For Sale

100 Meisners Point Road, Ingramport, NS B3E 3Z3

Listing courtesy of Century 21 Trident Realty Ltd.

4Bedroom(s)

2Bathroom(s)

C$899500

Residential For Sale

6969 Highway 3, Hunt's Point Ns B0t 1g0

More Details

4Bedroom(s)

2Bathroom(s)

DoubleParking(s)

50Picture(s)

2,688Sqft

Listing courtesy of Engel & Volkers (Liverpool)

C$1050000

Residential For Sale

6969 Highway 3, Hunt's Point Ns B0t 1g0

4Bedroom(s)

2Bathroom(s)

DoubleParking(s)

2,688Sqft

Listing courtesy of Engel & Volkers (Liverpool)

Welcome to 6969 Highway 3, a beautiful private oceanfront home nestled in the lovely village of Hunts Point. This home offers commanding views of the ocean and 2.5 acres of land with a gracious and thoughtfully planned home. The home offers 4 good sized bedrooms, a study, 1 1/2 bathrooms as well as a kitchen that is open to the dining room and family room.

C$1050000

Residential For Sale

6969 Highway 3, Hunt's Point Ns B0t 1g0

Listing courtesy of Engel & Volkers (Liverpool)

4Bedroom(s)

2Bathroom(s)

C$1050000

Residential For Sale

0 Lake Mulgrave, Victory Ns B0s 1b0

More Details

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

44Picture(s)

659Sqft

Listing courtesy of Exit Realty Town & Country

C$125000

Residential For Sale

0 Lake Mulgrave, Victory Ns B0s 1b0

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

659Sqft

Listing courtesy of Exit Realty Town & Country

Lakefront!! Welcome to this peaceful wilderness retreat on Lake Mulgrave in Victory. Sitting on nearly 1 acre this off grid camp is ideal for anyone looking to get away from the hustle and bustle of everyday. Patio doors overlooking the lake and heated with a cozy woodstove, this camp has two private bedrooms and additional sleeping space in the loft as well as a compact kitchen and indoor toilet.

C$125000

Residential For Sale

0 Lake Mulgrave, Victory Ns B0s 1b0

Listing courtesy of Exit Realty Town & Country

2Bedroom(s)

1Bathroom(s)

C$125000

Residential For Sale

1458 Bluff Road, Hants Border Ns B0p 1p0

More Details

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

11Picture(s)

1,055Sqft

Listing courtesy of MacKay Real Estate Ltd.

C$109000

Residential For Sale

1458 Bluff Road, Hants Border Ns B0p 1p0

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

1,055Sqft

Listing courtesy of MacKay Real Estate Ltd.

Opportunity for Renovation or Redevelopment This property at 1458 Bluff Road offers the right buyer a rare opportunity to revitalize a project-ready home in a desirable location. Currently in poor condition, the house requires extensive repairs and updates to meet modern standards, but presents strong potential for redevelopment or a major flip.

C$109000

Residential For Sale

1458 Bluff Road, Hants Border Ns B0p 1p0

Listing courtesy of MacKay Real Estate Ltd.

3Bedroom(s)

1Bathroom(s)

C$109000

Residential For Sale

70 Gourok Avenue, Dartmouth Ns B2x 2w8

More Details

4Bedroom(s)

4Bathroom(s)

No GarageParking(s)

50Picture(s)

3,168Sqft

Listing courtesy of Century 21 Trident Realty Ltd.

C$885000

Residential For Sale

70 Gourok Avenue, Dartmouth Ns B2x 2w8

4Bedroom(s)

4Bathroom(s)

No GarageParking(s)

3,168Sqft

Listing courtesy of Century 21 Trident Realty Ltd.

Welcome to 70 Gourok - where elegance meets quality. This lovely 4 bdr executive bungalow offers over 3000 sq. ft. on two levels with expansive lake views and large bright windows. The spacious foyer leads to an elegant great room with vaulted ceiling, expansive windows and a cozy propane fireplace.

C$885000

Residential For Sale

70 Gourok Avenue, Dartmouth Ns B2x 2w8

Listing courtesy of Century 21 Trident Realty Ltd.

4Bedroom(s)

4Bathroom(s)

C$885000

Residential For Sale

17-171 Brunello Boulevard, Timberlea Ns B3t 0j6

More Details

3Bedroom(s)

4Bathroom(s)

SingleParking(s)

5Picture(s)

2,302Sqft

Listing courtesy of Engel & Volkers

C$739900

Residential For Sale

17-171 Brunello Boulevard, Timberlea Ns B3t 0j6

3Bedroom(s)

4Bathroom(s)

SingleParking(s)

2,302Sqft

Listing courtesy of Engel & Volkers

Welcome to The Maple by Ramar Homes, a stunning three-level home in the prestigious Brunello Estates golf community. This thoughtfully designed home offers three spacious bedrooms on the upper level, including a luxurious primary suite with a walk-in closet, a 5-piece ensuite featuring a double vanity, walk-in shower and a freestanding tub.

C$739900

Residential For Sale

17-171 Brunello Boulevard, Timberlea Ns B3t 0j6

Listing courtesy of Engel & Volkers

3Bedroom(s)

4Bathroom(s)

C$739900

Residential For Sale

5640 Highway 1, Mavillette Ns B5a 5b3

More Details

4Bedroom(s)

2Bathroom(s)

DetachedParking(s)

42Picture(s)

1,557Sqft

Listing courtesy of Engel & Volkers (Yarmouth)

C$318900

Residential For Sale

5640 Highway 1, Mavillette Ns B5a 5b3

4Bedroom(s)

2Bathroom(s)

DetachedParking(s)

1,557Sqft

Listing courtesy of Engel & Volkers (Yarmouth)

This charming 4-bedroom home combines rustic character with modern updates, offering a unique blend of timeless appeal and contemporary comfort. Set on a sprawling 19.7-acre lot, the property features beautiful ocean views that showcase stunning sunsets.

C$318900

Residential For Sale

5640 Highway 1, Mavillette Ns B5a 5b3

Listing courtesy of Engel & Volkers (Yarmouth)

4Bedroom(s)

2Bathroom(s)

C$318900

Residential For Sale

277 Indian Point Road, Indian Point Ns B0j 2t0

More Details

4Bedroom(s)

3Bathroom(s)

GravelParking(s)

50Picture(s)

1,556Sqft

Listing courtesy of Duckworth Real Estate(Chester)

C$2099000

Residential For Sale

277 Indian Point Road, Indian Point Ns B0j 2t0

4Bedroom(s)

3Bathroom(s)

GravelParking(s)

1,556Sqft

Listing courtesy of Duckworth Real Estate(Chester)

Gently sloping waterfront property on close to two acres in exclusive Indian Point. This home was completely rebuilt on top of a large granite foundation twenty years ago as a ‘jewel box’ by the owners (architect and interior designer). The positioning of the property provides stunning waterfront views through Ernst and Zwicker islands out to open ocean.

C$2099000

Residential For Sale

277 Indian Point Road, Indian Point Ns B0j 2t0

Listing courtesy of Duckworth Real Estate(Chester)

4Bedroom(s)

3Bathroom(s)

C$2099000

4674 Results returned.Per Page

Stop Paying Rent!

How to Stop Paying Rent and Own Your Own Home

Don’t pay another cent in rent to your landlord!

– save for a down payment

– stop lining your landlord’s pockets, and – stop wasting thousands of dollars on rent.

6 Little Known Facts That Can Help You Buy Your First Home

The problem that most renters face isn’t your ability to meet a monthly payment. Goodness knows you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.

But saving for this lump sum doesn’t have to be as difficult as you might think. Consider the following 6 important points:

You can buy a home with much less down than you think.

You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down-payment, if you are debt-free, and own an asset free and clear (such as a car, for example), your lending institution may be able to lend you the down-payment for your home by securing it against this asset.

You may be able to find a seller to help you buy and finance your home.

Some sellers may be willing to hold a second mortgage for you as a “seller take-back.” In this case, the seller becomes your lending institution. Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.

You may be able to create a cash down payment without actually going into debt.

You can buy a home even if you have problems with your credit rating.

If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation.

You can, and should, get preapproved for a home loan before you go looking for a home.

Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter’s rut forever. Typically there is no cost or obligation to enquire.

How to Stop Paying Rent and Own Your Own Home

Don’t pay another cent in rent to your landlord!

– save for a down payment

– stop lining your landlord’s pockets, and – stop wasting thousands of dollars on rent.

6 Little Known Facts That Can Help You Buy Your First Home

The problem that most renters face isn’t your ability to meet a monthly payment. Goodness knows you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.

But saving for this lump sum doesn’t have to be as difficult as you might think. Consider the following 6 important points:

You can buy a home with much less down than you think.

You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down-payment, if you are debt-free, and own an asset free and clear (such as a car, for example), your lending institution may be able to lend you the down-payment for your home by securing it against this asset.

You may be able to find a seller to help you buy and finance your home.

Some sellers may be willing to hold a second mortgage for you as a “seller take-back.” In this case, the seller becomes your lending institution. Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.

You may be able to create a cash down payment without actually going into debt.

You can buy a home even if you have problems with your credit rating.

If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation.

You can, and should, get preapproved for a home loan before you go looking for a home.

Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter’s rut forever. Typically there is no cost or obligation to enquire.

9 Buyer Traps & How to Avoid Them

No matter which way you look at it, buying a home is a major investment. But for many home buyers, it can be an even more expensive process than it needs to be because many fall prey to at least a few of the many common and costly mistakes which trap them into either:

* paying too much for the home they want, or * losing their dream home to another buyer or, * (worse) buying the wrong home for their needs.

A systemized approach to the home buying process can help you steer clear of these common traps, allowing you to not only cut costs, but also secure the home that’s best for you.

This important article discusses the 9 most common and costly of these homebuyer traps, how to identify them, and what you can do to avoid them.

The 9 Buyer Traps

Bidding Blind

Buying the Wrong Home.

Unclear Title.

Inaccurate Survey.

Undisclosed Fix-ups.

Not Getting Mortgage Preapproval.

Preapproval is fast, easy and free. When you have a preapproved mortgage, you can shop for your home with a greater sense of freedom and security, knowing that the money will be there when you find the home of your dreams.

Contract Misses.

Hidden Costs.

Rushing the Closing.

One More Tip…

Residential For Sale

226 South West Cove Road, Port Medway, NS B0J 2T0

Residential For Sale

Residential For Sale

Residential For Sale

605-31 Kings Wharf Place, Dartmouth Ns B2y 0c1

Residential For Sale

Residential For Sale

Residential For Sale

27 D'escousse - Cap La Ronde Road, D'escousse Ns B0e 1k0

Residential For Sale

Residential For Sale

Residential For Sale

12 Hunter Road, Milford Ns B0n 1y0

Residential For Sale

Residential For Sale

Residential For Sale

100 Meisners Point Road, Ingramport, NS B3E 3Z3

Residential For Sale

Residential For Sale

Residential For Sale

6969 Highway 3, Hunt's Point Ns B0t 1g0

Residential For Sale

Residential For Sale

Residential For Sale

0 Lake Mulgrave, Victory Ns B0s 1b0

Residential For Sale

Residential For Sale

– stop lining your landlord’s pockets, and
– stop wasting thousands of dollars on rent.

– stop lining your landlord’s pockets, and
– stop wasting thousands of dollars on rent.

* paying too much for the home they want, or
* losing their dream home to another buyer or,
* (worse) buying the wrong home for their needs.