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

565 Caribou Island Road, Caribou Island, NS B0K 1H0

More Details

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

22Picture(s)

712Sqft

Listing courtesy of Royal LePage Atlantic(Stellarton)

C$354999

Residential For Sale

565 Caribou Island Road, Caribou Island, NS B0K 1H0

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

712Sqft

Listing courtesy of Royal LePage Atlantic(Stellarton)

Resting along the picturesque North Shore of Nova Scotia, this cozy 2 bedroom cottage offers nearly 250 feet of beautiful ocean front - your own piece of paradise. Only 6 years old, this thoughtfully designed home boasts coastal charm, with the bonus option to make this a year-round oasis.

C$354999

Residential For Sale

565 Caribou Island Road, Caribou Island, NS B0K 1H0

Listing courtesy of Royal LePage Atlantic(Stellarton)

2Bedroom(s)

1Bathroom(s)

C$354999

Residential For Sale

565 Caribou Island Road, Caribou Island, NS B0K 1H0

More Details

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

27Picture(s)

712Sqft

Listing courtesy of Royal LePage Atlantic(Stellarton)

C$354999

Residential For Sale

565 Caribou Island Road, Caribou Island, NS B0K 1H0

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

712Sqft

Listing courtesy of Royal LePage Atlantic(Stellarton)

C$354999

Residential For Sale

565 Caribou Island Road, Caribou Island, NS B0K 1H0

Listing courtesy of Royal LePage Atlantic(Stellarton)

2Bedroom(s)

1Bathroom(s)

C$354999

Residential For Sale

580 Hwy 1, Mount Denson, NS B0P 1P0

More Details

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

49Picture(s)

2,247Sqft

Listing courtesy of Sotheby's International Realty Canada

C$635000

Residential For Sale

580 Hwy 1, Mount Denson, NS B0P 1P0

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

2,247Sqft

Listing courtesy of Sotheby's International Realty Canada

Missed it the first time? Here’s your second chance! This one-of-a-kind property is back on the market. Perfectly set between Windsor and Hantsport in the quiet hamlet of Mount Denson, this nearly 2-acre property is just minutes from the highway. The three-bedroom home, built in 1959, has been lovingly updated and radiates warmth and personality.

C$635000

Residential For Sale

580 Hwy 1, Mount Denson, NS B0P 1P0

Listing courtesy of Sotheby's International Realty Canada

3Bedroom(s)

1Bathroom(s)

C$635000

Residential For Sale

305-476 Main Street, Mahone Bay, NS B0J 2E0

More Details

2Bedroom(s)

2Bathroom(s)

UndergroundParking(s)

42Picture(s)

1,264Sqft

Listing courtesy of Red Door Realty(20036)

C$385000

Residential For Sale

305-476 Main Street, Mahone Bay, NS B0J 2E0

2Bedroom(s)

2Bathroom(s)

UndergroundParking(s)

1,264Sqft

Listing courtesy of Red Door Realty(20036)

CONDO LIVING BY THE SEA. STYLISH, SPACIOUS, SERENE: Welcome to The Quinlan a well-managed, 34-unit building in the heart of Mahone Bay. This spacious 2 bedroom, 2 bathroom unit offers 1402 sq ft of space (1,264 sq ft of freshly painted, open concept living, plus a 138 sq ft balcony overlooking the Maggie Maggie River). Unit offers privacy and tranquility away from the street and parking lot.

C$385000

Residential For Sale

305-476 Main Street, Mahone Bay, NS B0J 2E0

Listing courtesy of Red Door Realty(20036)

2Bedroom(s)

2Bathroom(s)

C$385000

Residential For Sale

355 Pleasant Street, Yarmouth, NS B5A 2K9

More Details

2Bedroom(s)

3Bathroom(s)

AttachedParking(s)

31Picture(s)

1,681Sqft

Listing courtesy of Modern Realty

C$599900

Residential For Sale

355 Pleasant Street, Yarmouth, NS B5A 2K9

2Bedroom(s)

3Bathroom(s)

AttachedParking(s)

1,681Sqft

Listing courtesy of Modern Realty

Great opportunities don’t come everyday! Here is one to consider in the Town of Yarmouth. 40.75 in the North End + a 39 year old bungalow with multiple out buildings. Coming up the paved driveway, you will fall in love with this setting. The house has had one owner, and features 2 main level bedrooms, full bath, spacious oak kitchen with adjacent half bath and separate laundry room.

C$599900

Residential For Sale

355 Pleasant Street, Yarmouth, NS B5A 2K9

Listing courtesy of Modern Realty

2Bedroom(s)

3Bathroom(s)

C$599900

Residential For Sale

87 Haven Drive, Bridgewater, NS B4V 4C5

More Details

2Bedroom(s)

2Bathroom(s)

DoubleParking(s)

29Picture(s)

1,232Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

C$227900

Residential For Sale

87 Haven Drive, Bridgewater, NS B4V 4C5

2Bedroom(s)

2Bathroom(s)

DoubleParking(s)

1,232Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

I would like to welcome you to my new listing at 87 Haven Drive in Bridgewater, in a very nice community. I hope this nice quality mini home offers 2 spacious bedrooms, an ensuite bath in the primary bedroom and large closet and a large separate bathroom just off the main hallway. The home offers a unique and desirable layout, with an open concept design.

C$227900

Residential For Sale

87 Haven Drive, Bridgewater, NS B4V 4C5

Listing courtesy of Royal LePage Atlantic (New Minas)

2Bedroom(s)

2Bathroom(s)

C$227900

Residential For Sale

52 Sonora Wharf Road, Sonora, NS B0J 3C0

More Details

3Bedroom(s)

1Bathroom(s)

No GarageParking(s)

21Picture(s)

884Sqft

Listing courtesy of Re/Max Park Place Inc. (Antigonish)

C$210000

Residential For Sale

52 Sonora Wharf Road, Sonora, NS B0J 3C0

3Bedroom(s)

1Bathroom(s)

No GarageParking(s)

884Sqft

Listing courtesy of Re/Max Park Place Inc. (Antigonish)

Looking for a perfect get-a-way by the ocean? Located in Sonora, this sweet ocean front cottage is ready for you to spend your summer. Built in 2006. Private well and septic. Very well maintained. Ten minutes to the town of Sherbrooke with all amenities - grocery store, liquor store, drug store, post office and of course the famous Sherbrooke Village.

C$210000

Residential For Sale

52 Sonora Wharf Road, Sonora, NS B0J 3C0

Listing courtesy of Re/Max Park Place Inc. (Antigonish)

3Bedroom(s)

1Bathroom(s)

C$210000

Residential For Sale

12812 Shore Road, Moshers Corner, NS B0S 1P0

More Details

3Bedroom(s)

2Bathroom(s)

DetachedParking(s)

50Picture(s)

2,129Sqft

Listing courtesy of Engel & Volkers (Annapolis Royal)

C$849000

Residential For Sale

12812 Shore Road, Moshers Corner, NS B0S 1P0

3Bedroom(s)

2Bathroom(s)

DetachedParking(s)

2,129Sqft

Listing courtesy of Engel & Volkers (Annapolis Royal)

Stunning, Nova Scotia hobby farm on a sheltered acreage minutes from the heart of the Annapolis Valley. 31 pastoral acres offering fenced pasture/paddock, hay, fantastic out buildings, fruit trees, roughly 10 acres of forest with trails, plus a brook at the Western boundary. Private setting, set back from a country road.

C$849000

Residential For Sale

12812 Shore Road, Moshers Corner, NS B0S 1P0

Listing courtesy of Engel & Volkers (Annapolis Royal)

3Bedroom(s)

2Bathroom(s)

C$849000

Residential For Sale

536 Pomquet Cove Road, Pomquet, NS B2G 2L4

More Details

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

15Picture(s)

1,102Sqft

Listing courtesy of ROYAL LEPAGE HIGHLAND PROPERTIES - D100

C$399000

Residential For Sale

536 Pomquet Cove Road, Pomquet, NS B2G 2L4

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

1,102Sqft

Listing courtesy of ROYAL LEPAGE HIGHLAND PROPERTIES - D100

Very well maintained, immaculate and well constructed 3 bedroom bungalow in the community of Pomquet - The main level has an eat-in kitchen, spacious living room with room for dining area, three bedrooms and full bath - The full basement is unfinished and houses furnace, storage area, hot water tank, oil tank and water softener.

C$399000

Residential For Sale

536 Pomquet Cove Road, Pomquet, NS B2G 2L4

Listing courtesy of ROYAL LEPAGE HIGHLAND PROPERTIES - D100

3Bedroom(s)

1Bathroom(s)

C$399000

Residential For Sale

8394 Highway 3, Port Mouton, NS B0T 1T0

More Details

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

42Picture(s)

1,200Sqft

Listing courtesy of EXIT Realty Inter Lake (Liverpool)

C$299000

Residential For Sale

8394 Highway 3, Port Mouton, NS B0T 1T0

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

1,200Sqft

Listing courtesy of EXIT Realty Inter Lake (Liverpool)

Ocean-view 3-bedroom home perched on 3 PIDs totaling over 1.3 acres that back onto the provincial walking trail system in picturesque Port Mouton on the South Shore of Nova Scotia. Two bedrooms up and the primary bedroom and bath on the main floor.

C$299000

Residential For Sale

8394 Highway 3, Port Mouton, NS B0T 1T0

Listing courtesy of EXIT Realty Inter Lake (Liverpool)

3Bedroom(s)

1Bathroom(s)

C$299000

Residential For Sale

28 Quahog Lane, Brule Point, NS B0K 1V0

More Details

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

24Picture(s)

632Sqft

Listing courtesy of Results Realty Atlantic Inc.

C$275000

Residential For Sale

28 Quahog Lane, Brule Point, NS B0K 1V0

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

632Sqft

Listing courtesy of Results Realty Atlantic Inc.

A perfect summer retreat! This 3 bedroom, 1 bath cottage is located in the beautiful Brule Point, with 83 ft of water frontage on the Northumberland Strait, admire the water views while relaxing in your very own summer time oasis!! The property features a well and septic system, as well as stone retaining wall for added protection.

C$275000

Residential For Sale

28 Quahog Lane, Brule Point, NS B0K 1V0

Listing courtesy of Results Realty Atlantic Inc.

3Bedroom(s)

1Bathroom(s)

C$275000

Residential For Sale

39170 Cabot Trail Road, Ingonish, NS B0C 1L0

More Details

3Bedroom(s)

2Bathroom(s)

AttachedParking(s)

47Picture(s)

1,500Sqft

Listing courtesy of RE/MAX Park Place Inc.

C$599900

Residential For Sale

39170 Cabot Trail Road, Ingonish, NS B0C 1L0

3Bedroom(s)

2Bathroom(s)

AttachedParking(s)

1,500Sqft

Listing courtesy of RE/MAX Park Place Inc.

Executive Style Home overlooking breathtaking views of Ingonish Harbour, towards Middle Head Peninsula. Built in 2018, there were no features overlooked in this beautiful home design. High ceilings, custom cabinets, quartz counter tops & hardwood floors. This home boasts a QUALITY build with high end finishings.

C$599900

Residential For Sale

39170 Cabot Trail Road, Ingonish, NS B0C 1L0

Listing courtesy of RE/MAX Park Place Inc.

3Bedroom(s)

2Bathroom(s)

C$599900

4275 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

565 Caribou Island Road, Caribou Island, NS B0K 1H0

Residential For Sale

Residential For Sale

Residential For Sale

565 Caribou Island Road, Caribou Island, NS B0K 1H0

Residential For Sale

Residential For Sale

Residential For Sale

580 Hwy 1, Mount Denson, NS B0P 1P0

Residential For Sale

Residential For Sale

Residential For Sale

305-476 Main Street, Mahone Bay, NS B0J 2E0

Residential For Sale

Residential For Sale

Residential For Sale

355 Pleasant Street, Yarmouth, NS B5A 2K9

Residential For Sale

Residential For Sale

Residential For Sale

87 Haven Drive, Bridgewater, NS B4V 4C5

Residential For Sale

Residential For Sale

Residential For Sale

52 Sonora Wharf Road, Sonora, NS B0J 3C0

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.