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

Ponhook Drive Lot 31, Labelle Ns B0t 1e0

More Details

2Bedroom(s)

1Bathroom(s)

SingleParking(s)

49Picture(s)

689Sqft

Listing courtesy of RE/MAX Banner Real Estate (Bridgewater)

C$290000

Residential For Sale

Ponhook Drive Lot 31, Labelle Ns B0t 1e0

2Bedroom(s)

1Bathroom(s)

SingleParking(s)

689Sqft

Listing courtesy of RE/MAX Banner Real Estate (Bridgewater)

Escape to the tranquility of cottage country with this charming year-round living opportunity! Nestled on a picturesque 1.04-acre wooded lot, this 2-bedroom, 1-bath bungalow has quality construction and affordability. Embrace the serene ambiance from the inviting front verandah.

C$290000

Residential For Sale

Ponhook Drive Lot 31, Labelle Ns B0t 1e0

Listing courtesy of RE/MAX Banner Real Estate (Bridgewater)

2Bedroom(s)

1Bathroom(s)

C$290000

Residential For Sale

6228 Highway 101, Ashmore Ns B0w 3t0

More Details

4Bedroom(s)

1Bathroom(s)

DetachedParking(s)

40Picture(s)

1,170Sqft

Listing courtesy of Exit Realty Town & Country

C$229999

Residential For Sale

6228 Highway 101, Ashmore Ns B0w 3t0

4Bedroom(s)

1Bathroom(s)

DetachedParking(s)

1,170Sqft

Listing courtesy of Exit Realty Town & Country

Welcome to 6228 Highway 101, Ashmore, where you will find a warm and inviting home awaiting you and your family to make it your very own. Upon opening the door, you will be greeted by a roomy entry way that leads nicely to a spacious eat-in kitchen with great natural lighting. A cozy but roomy living room, two bedrooms, a laundry area and bathroom complete your main floor.

C$229999

Residential For Sale

6228 Highway 101, Ashmore Ns B0w 3t0

Listing courtesy of Exit Realty Town & Country

4Bedroom(s)

1Bathroom(s)

C$229999

Residential For Sale

1195 Shore Road W, Delaps Cove Ns B0s 1a0

More Details

2Bedroom(s)

2Bathroom(s)

GravelParking(s)

42Picture(s)

1,069Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

C$375000

Residential For Sale

1195 Shore Road W, Delaps Cove Ns B0s 1a0

2Bedroom(s)

2Bathroom(s)

GravelParking(s)

1,069Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

STUNNER ALERT!! Located in Delaps Cove, Nova Scotia, this 7.71 acre off-grid, private oasis is just what you need to get away from it all! With 651 feet of waterfront nestled along the world famous Bay of Fundy coastline, you will experience breathtaking sunsets loaded with vibrant East Coast colour while you watch seals play and whales cruise by.

C$375000

Residential For Sale

1195 Shore Road W, Delaps Cove Ns B0s 1a0

Listing courtesy of Royal LePage Atlantic (New Minas)

2Bedroom(s)

2Bathroom(s)

C$375000

Residential For Sale

424 Mariners Way, Fox Harbour Ns B0k 1y0

More Details

4Bedroom(s)

4Bathroom(s)

AttachedParking(s)

48Picture(s)

2,077Sqft

Listing courtesy of Coldwell Banker Maritime Realty

C$1650000

Residential For Sale

424 Mariners Way, Fox Harbour Ns B0k 1y0

4Bedroom(s)

4Bathroom(s)

AttachedParking(s)

2,077Sqft

Listing courtesy of Coldwell Banker Maritime Realty

Welcome to oceanfront living at its finest! This modern home boasts high ceilings up to 12'6" and exceptional quality throughout, featuring engineered hardwood flooring, heated tile floors, custom glass showers, solid core interior doors, and stone countertops.

C$1650000

Residential For Sale

424 Mariners Way, Fox Harbour Ns B0k 1y0

Listing courtesy of Coldwell Banker Maritime Realty

4Bedroom(s)

4Bathroom(s)

C$1650000

Residential For Sale

71 Pleasure Cove Road, West Pugwash Ns B0k 1l0

More Details

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

47Picture(s)

1,949Sqft

Listing courtesy of Coldwell Banker Performance Realty

C$499900

Residential For Sale

71 Pleasure Cove Road, West Pugwash Ns B0k 1l0

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

1,949Sqft

Listing courtesy of Coldwell Banker Performance Realty

Fantastic beach home with an incredible view and massive garage! Built in 2013 this home sits perfectly overlooking the Pugwash Basin where folks boat and swim. Home has an open concept with vaulted ceilings. On town water the property includes a 3 acre lot with a separate PID which gives frontage on Murray Road. This lot could be sold off to recoup some funds to expand the backyard.

C$499900

Residential For Sale

71 Pleasure Cove Road, West Pugwash Ns B0k 1l0

Listing courtesy of Coldwell Banker Performance Realty

3Bedroom(s)

2Bathroom(s)

C$499900

Residential For Sale

Shoreline Bluff Lane Lot 4, Fox Point Ns B0j 1t0

More Details

4Bedroom(s)

3Bathroom(s)

AttachedParking(s)

3Picture(s)

2,289Sqft

Listing courtesy of RE/MAX Nova (Halifax)

C$764700

Residential For Sale

Shoreline Bluff Lane Lot 4, Fox Point Ns B0j 1t0

4Bedroom(s)

3Bathroom(s)

AttachedParking(s)

2,289Sqft

Listing courtesy of RE/MAX Nova (Halifax)

Imagine stepping into your dream home - a stunning two-level split entry masterpiece. The striking exterior will set the tone that awaits inside. You will be greeted with upgraded trims and finishes that will immediately convey your new homes quality. The main level unfolds before you, boasting an open concept design that seamlessly blends the living/dining and kitchen areas.

C$764700

Residential For Sale

Shoreline Bluff Lane Lot 4, Fox Point Ns B0j 1t0

Listing courtesy of RE/MAX Nova (Halifax)

4Bedroom(s)

3Bathroom(s)

C$764700

Residential For Sale

40 Ferry Road, Moser River Ns B0j 2k0

More Details

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

44Picture(s)

1,259Sqft

Listing courtesy of Century 21 Trident Realty Ltd.

C$299900

Residential For Sale

40 Ferry Road, Moser River Ns B0j 2k0

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

1,259Sqft

Listing courtesy of Century 21 Trident Realty Ltd.

Welcome to the quaint community of Moser River on the Eastern Shore of Nova Scotia that offers a post office, playground, fire hall and convenience store with all other amenities available 20 minutes to Sheet Harbour with Hospital and new PP-12 School.

C$299900

Residential For Sale

40 Ferry Road, Moser River Ns B0j 2k0

Listing courtesy of Century 21 Trident Realty Ltd.

3Bedroom(s)

1Bathroom(s)

C$299900

Residential For Sale

19384 Highway 2, Fort Ellis Ns B0n 2j0

More Details

4Bedroom(s)

3Bathroom(s)

DoubleParking(s)

50Picture(s)

3,230Sqft

Listing courtesy of Royal LePage Atlantic (Enfield)

C$599900

Residential For Sale

19384 Highway 2, Fort Ellis Ns B0n 2j0

4Bedroom(s)

3Bathroom(s)

DoubleParking(s)

3,230Sqft

Listing courtesy of Royal LePage Atlantic (Enfield)

Welcome to this charming home nestled on 2.68 acres, originally built in 1976 and beautifully renovated to uphold its timeless appeal. Craftsmanship shines throughout, boasting quality finishes and spacious interiors bathed in natural light.

C$599900

Residential For Sale

19384 Highway 2, Fort Ellis Ns B0n 2j0

Listing courtesy of Royal LePage Atlantic (Enfield)

4Bedroom(s)

3Bathroom(s)

C$599900

Residential For Sale

Shoreline Bluff Lane Lot 7, Fox Point Ns B0j 1t0

More Details

4Bedroom(s)

3Bathroom(s)

AttachedParking(s)

3Picture(s)

2,861Sqft

Listing courtesy of RE/MAX Nova (Halifax)

C$937890

Residential For Sale

Shoreline Bluff Lane Lot 7, Fox Point Ns B0j 1t0

4Bedroom(s)

3Bathroom(s)

AttachedParking(s)

2,861Sqft

Listing courtesy of RE/MAX Nova (Halifax)

Indulge in the ultimate coastal living experience with this meticulously designed 4 bedroom, 3 full bath, two-level turnkey home package, crafted to capture the stunning ocean views that stretch out before you. This home is a masterpiece of modern living.

C$937890

Residential For Sale

Shoreline Bluff Lane Lot 7, Fox Point Ns B0j 1t0

Listing courtesy of RE/MAX Nova (Halifax)

4Bedroom(s)

3Bathroom(s)

C$937890

Residential For Sale

Shoreline Bluff Lane Lot 5, Fox Point Ns B0j 1t0

More Details

3Bedroom(s)

3Bathroom(s)

AttachedParking(s)

3Picture(s)

1,919Sqft

Listing courtesy of RE/MAX Nova (Halifax)

C$698488

Residential For Sale

Shoreline Bluff Lane Lot 5, Fox Point Ns B0j 1t0

3Bedroom(s)

3Bathroom(s)

AttachedParking(s)

1,919Sqft

Listing courtesy of RE/MAX Nova (Halifax)

'Offering a turn-key home build package with unmatched quality and coastal living and perched across the street from the pristine sands of Cannery Beach. Welcome to the unique opportunity to secure your dream home in the new neighborhood of 'Shoreline Bluff.' This package is a testament to quality & craftsmanship to create a home that reflects your desires for living oceanside.

C$698488

Residential For Sale

Shoreline Bluff Lane Lot 5, Fox Point Ns B0j 1t0

Listing courtesy of RE/MAX Nova (Halifax)

3Bedroom(s)

3Bathroom(s)

C$698488

Residential For Sale

180 Murphys Road, Murphy Cove Ns B0j 3h0

More Details

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

50Picture(s)

2,417Sqft

Listing courtesy of EXP Realty of Canada Inc.

C$450000

Residential For Sale

180 Murphys Road, Murphy Cove Ns B0j 3h0

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

2,417Sqft

Listing courtesy of EXP Realty of Canada Inc.

If you are looking for Ocean views, look no further! 180 Murphys Road, is nestled in picturesque Murphys Cove, NS. This charming home boasts a harmonious blend of modern comfort and coastal tranquility.You're greeted by the serene ambiance of the surrounding landscape. As you step inside, the warmth of hardwood floors welcomes you into a space that feels both inviting and spacious.

C$450000

Residential For Sale

180 Murphys Road, Murphy Cove Ns B0j 3h0

Listing courtesy of EXP Realty of Canada Inc.

3Bedroom(s)

2Bathroom(s)

C$450000

Residential For Sale

7 Pine Ridge Drive, Port Hawkesbury Ns B9a 2l3

More Details

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

50Picture(s)

2,015Sqft

Listing courtesy of Cape Breton Realty

C$389000

Residential For Sale

7 Pine Ridge Drive, Port Hawkesbury Ns B9a 2l3

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

2,015Sqft

Listing courtesy of Cape Breton Realty

Nestled in the serene neighborhood of Port Hawkesbury, 7 Pine Ridge Dr. offers a charming retreat in a tranquil setting. This delightful residence boasts the classic appeal of a raised bungalow, combining functionality with style. Approaching the property, you're greeted by a well-maintained exterior framed by lush greenery, enhancing the natural beauty of the surroundings.

C$389000

Residential For Sale

7 Pine Ridge Drive, Port Hawkesbury Ns B9a 2l3

Listing courtesy of Cape Breton Realty

3Bedroom(s)

2Bathroom(s)

C$389000

4637 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

Ponhook Drive Lot 31, Labelle Ns B0t 1e0

Residential For Sale

Residential For Sale

Residential For Sale

6228 Highway 101, Ashmore Ns B0w 3t0

Residential For Sale

Residential For Sale

Residential For Sale

1195 Shore Road W, Delaps Cove Ns B0s 1a0

Residential For Sale

Residential For Sale

Residential For Sale

424 Mariners Way, Fox Harbour Ns B0k 1y0

Residential For Sale

Residential For Sale

Residential For Sale

71 Pleasure Cove Road, West Pugwash Ns B0k 1l0

Residential For Sale

Residential For Sale

Residential For Sale

Shoreline Bluff Lane Lot 4, Fox Point Ns B0j 1t0

Residential For Sale

Residential For Sale

Residential For Sale

40 Ferry Road, Moser River Ns B0j 2k0

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.