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.

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

6332 East River West Side Road, Eureka, NS B0K 1B0

More Details

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

28Picture(s)

1,473Sqft

Listing courtesy of Blinkhorn Real Estate Ltd.

C$199000

Residential For Sale

6332 East River West Side Road, Eureka, NS B0K 1B0

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

1,473Sqft

Listing courtesy of Blinkhorn Real Estate Ltd.

Welcome to 6332 East River West Side Road in the village of Eureka. This two storey home sitting on an over half acre lot is waiting for you to add some finishing touches and make it your new home.

C$199000

Residential For Sale

6332 East River West Side Road, Eureka, NS B0K 1B0

Listing courtesy of Blinkhorn Real Estate Ltd.

3Bedroom(s)

1Bathroom(s)

C$199000

Residential For Sale

504 Highway 335, West Pubnico, NS B0W 3S0

More Details

2Bedroom(s)

1Bathroom(s)

No GarageParking(s)

35Picture(s)

726Sqft

Listing courtesy of Keller Williams Select Realty (Shelburne)

C$179000

Residential For Sale

504 Highway 335, West Pubnico, NS B0W 3S0

2Bedroom(s)

1Bathroom(s)

No GarageParking(s)

726Sqft

Listing courtesy of Keller Williams Select Realty (Shelburne)

Single-story home in West Pubnico, Nova Scotia, The exterior of the home is maintenance free and has a paved driveway, The property is nicely landscaped. The kitchen is a standout feature, boasting ample wooden cabinetry in warm tones and a spacious countertop, ideal for meal preparation. A window above the sink allows natural light to flood in, brightening the space.

C$179000

Residential For Sale

504 Highway 335, West Pubnico, NS B0W 3S0

Listing courtesy of Keller Williams Select Realty (Shelburne)

2Bedroom(s)

1Bathroom(s)

C$179000

Residential For Sale

201-83 Kearney Lake Road, Halifax, NS B3M 4E6

More Details

2Bedroom(s)

1Bathroom(s)

AssignedParking(s)

27Picture(s)

900Sqft

Listing courtesy of Keller Williams Select Realty

C$339900

Residential For Sale

201-83 Kearney Lake Road, Halifax, NS B3M 4E6

2Bedroom(s)

1Bathroom(s)

AssignedParking(s)

900Sqft

Listing courtesy of Keller Williams Select Realty

Convenient, comfortable, and move-in ready — this unit has it all! This 2-bedroom, 1-bathroom main-level condo offers a fantastic opportunity for first-time buyers or those looking to downsize. Located just 5 minutes from all the shopping and amenities of Bayer’s Lake, with quick access to Highway 102 and only 15 minutes to downtown Halifax, you’ll love the central location.

C$339900

Residential For Sale

201-83 Kearney Lake Road, Halifax, NS B3M 4E6

Listing courtesy of Keller Williams Select Realty

2Bedroom(s)

1Bathroom(s)

C$339900

Residential For Sale

87 Pebblecreek Crescent, Dartmouth, NS B2W 0J9

More Details

2Bedroom(s)

2Bathroom(s)

UndergroundParking(s)

49Picture(s)

1,260Sqft

Listing courtesy of Royal LePage Atlantic

C$520000

Residential For Sale

87 Pebblecreek Crescent, Dartmouth, NS B2W 0J9

2Bedroom(s)

2Bathroom(s)

UndergroundParking(s)

1,260Sqft

Listing courtesy of Royal LePage Atlantic

LAKEFRONT CONDO- OPEN HOUSE SUNDAY AUGUST 3 FROM 2-4- two bedrooms plus den, two full baths- wheelchair accessible- 20 x 10 deck overlooking Morris lake- underground heated garage- storage unit- outdoor party room-indoor party room- BBQ's allowed on decks- pet friendly- This super quiet , immaculatley clean unit and building is located on Morris Lake, peaceful country setting.

C$520000

Residential For Sale

87 Pebblecreek Crescent, Dartmouth, NS B2W 0J9

Listing courtesy of Royal LePage Atlantic

2Bedroom(s)

2Bathroom(s)

C$520000

Residential For Sale

37 Stockton Ridge, Bedford South, NS B4A 0E4

More Details

3Bedroom(s)

4Bathroom(s)

AttachedParking(s)

43Picture(s)

2,290Sqft

Listing courtesy of Keller Williams Select Realty

C$649900

Residential For Sale

37 Stockton Ridge, Bedford South, NS B4A 0E4

3Bedroom(s)

4Bathroom(s)

AttachedParking(s)

2,290Sqft

Listing courtesy of Keller Williams Select Realty

Welcome to this stylish 3-bedroom, 4-bathroom townhouse in the sought-after Ravines of Bedford South, offering three levels of thoughtfully designed living space. The main floor features abright open-concept layout with stunning hardwood floors, a spacious kitchen with granite countertops and ample built-in cabinetry, a generous living/dining area, and a convenient halfbath.

C$649900

Residential For Sale

37 Stockton Ridge, Bedford South, NS B4A 0E4

Listing courtesy of Keller Williams Select Realty

3Bedroom(s)

4Bathroom(s)

C$649900

Residential For Sale

327 Lower Truro Road, Truro, NS B2N 1B2

More Details

1Bedroom(s)

1Bathroom(s)

SingleParking(s)

34Picture(s)

1,281Sqft

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

C$269000

Residential For Sale

327 Lower Truro Road, Truro, NS B2N 1B2

1Bedroom(s)

1Bathroom(s)

SingleParking(s)

1,281Sqft

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

This sweet bungalow, conveniently located near shopping and the RECC (Rath Eastlink Community Centre) is ideal for first-time buyers, downsizers, or investors. The main floor offers a practical layout with a bright living room, cozy kitchen, a dining room with patio doors onto the back deck, full bath and a spacious primary bedroom.

C$269000

Residential For Sale

327 Lower Truro Road, Truro, NS B2N 1B2

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

1Bedroom(s)

1Bathroom(s)

C$269000

Residential For Sale

26 Kytes Hill Drive, Grand Lake Road, NS B1M 1A7

More Details

4Bedroom(s)

2Bathroom(s)

DoubleParking(s)

50Picture(s)

2,110Sqft

Listing courtesy of Viewpoint Realty Services Inc. (Sydney)

C$419900

Residential For Sale

26 Kytes Hill Drive, Grand Lake Road, NS B1M 1A7

4Bedroom(s)

2Bathroom(s)

DoubleParking(s)

2,110Sqft

Listing courtesy of Viewpoint Realty Services Inc. (Sydney)

Introducing 26 Kytes Hill Drive, a beautifully maintained home located in the highly sought-after Kytes Hill Subdivision. Surrounded by mature trees and lush greenery, this property offers privacy, tranquility, and the perfect blend of indoor and outdoor living.

C$419900

Residential For Sale

26 Kytes Hill Drive, Grand Lake Road, NS B1M 1A7

Listing courtesy of Viewpoint Realty Services Inc. (Sydney)

4Bedroom(s)

2Bathroom(s)

C$419900

Residential For Sale

3 Patricia Drive E, New Minas, NS B4N 5L3

More Details

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

26Picture(s)

1,056Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

C$198900

Residential For Sale

3 Patricia Drive E, New Minas, NS B4N 5L3

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

1,056Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

Welcome to this well kept mini in Valleyview mini home park in New Minas. Built in 1986 this home has 1056 sq.ft. with three bedrooms and 1 full bath. Recently painted throughout, including all trim and all new flooring. Offers 4 appliances; large deck in front and smaller deck at rear entry, Underneath is in excellent condition with new skirting. Double gravel driveway and nicely landscaped.

C$198900

Residential For Sale

3 Patricia Drive E, New Minas, NS B4N 5L3

Listing courtesy of Royal LePage Atlantic (New Minas)

3Bedroom(s)

1Bathroom(s)

C$198900

Residential For Sale

19 Regent Street, North Sydney, NS B2A 2E3

More Details

3Bedroom(s)

1Bathroom(s)

20Picture(s)

1,207Sqft

Listing courtesy of Viewpoint Realty Services Inc. (Sydney)

C$159000

Residential For Sale

19 Regent Street, North Sydney, NS B2A 2E3

3Bedroom(s)

1Bathroom(s)

1,207Sqft

Listing courtesy of Viewpoint Realty Services Inc. (Sydney)

Welcome to this inviting Bungalow that blends comfort and practicality. The main floor features a bright and welcoming foyer with a generous living room to your left perfect for relaxing with family. The primary bedroom and a full bath are conveniently located on the main level for easy living. The kitchen and dining room offer a functional layout with space to personalize to your taste.

C$159000

Residential For Sale

19 Regent Street, North Sydney, NS B2A 2E3

Listing courtesy of Viewpoint Realty Services Inc. (Sydney)

3Bedroom(s)

1Bathroom(s)

C$159000

Residential For Sale

185 Commercial Street, Middleton, NS B0S 1P0

More Details

6Bedroom(s)

4Bathroom(s)

DoubleParking(s)

50Picture(s)

2,877Sqft

Listing courtesy of Exit Realty Town & Country

C$499900

Residential For Sale

185 Commercial Street, Middleton, NS B0S 1P0

6Bedroom(s)

4Bathroom(s)

DoubleParking(s)

2,877Sqft

Listing courtesy of Exit Realty Town & Country

The fully restored century home is a beauty. You will enjoy the custom birch cabinets in laundry and kitchen. A bright large family room with vaulted ceilings. Back room leads to a private outside oasis in the back yard, with hot tub and inground pool. Inside is all the original wood plank flooring through out the house, with original wood colonial baseboards and casings.

C$499900

Residential For Sale

185 Commercial Street, Middleton, NS B0S 1P0

Listing courtesy of Exit Realty Town & Country

6Bedroom(s)

4Bathroom(s)

C$499900

Residential For Sale

138 Tattenham Crescent, Hammonds Plains, NS B4B 1V2

More Details

3Bedroom(s)

3Bathroom(s)

SingleParking(s)

44Picture(s)

2,592Sqft

Listing courtesy of Sutton Group Professional Realty

C$649000

Residential For Sale

138 Tattenham Crescent, Hammonds Plains, NS B4B 1V2

3Bedroom(s)

3Bathroom(s)

SingleParking(s)

2,592Sqft

Listing courtesy of Sutton Group Professional Realty

Welcome to 138 Tattenham Crescent, a wonderful bungalow set on over 2 acres in the White Hills community of Hammonds Plains! Located on a quiet and sought-after street, this property offers a combination of privacy and convenience, with downtown Halifax less than 30 minutes away. Inside, the main floor is designed for both comfort and function.

C$649000

Residential For Sale

138 Tattenham Crescent, Hammonds Plains, NS B4B 1V2

Listing courtesy of Sutton Group Professional Realty

3Bedroom(s)

3Bathroom(s)

C$649000

Residential For Sale

2 Dickey Street, Amherst, NS B4H 2H6

More Details

3Bedroom(s)

1Bathroom(s)

No GarageParking(s)

27Picture(s)

1,232Sqft

Listing courtesy of Royal LePage Cumberland Realty Ltd.

C$219900

Residential For Sale

2 Dickey Street, Amherst, NS B4H 2H6

3Bedroom(s)

1Bathroom(s)

No GarageParking(s)

1,232Sqft

Listing courtesy of Royal LePage Cumberland Realty Ltd.

Solid older home featuring 3 bedrooms, full bath, second floor laundry, and plenty of main floor living space too. A great layout throughout the home for use and functionality.

C$219900

Residential For Sale

2 Dickey Street, Amherst, NS B4H 2H6

Listing courtesy of Royal LePage Cumberland Realty Ltd.

3Bedroom(s)

1Bathroom(s)

C$219900

4827 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.

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

6332 East River West Side Road, Eureka, NS B0K 1B0

Residential For Sale

Residential For Sale

Residential For Sale

504 Highway 335, West Pubnico, NS B0W 3S0

Residential For Sale

Residential For Sale

Residential For Sale

201-83 Kearney Lake Road, Halifax, NS B3M 4E6

Residential For Sale

Residential For Sale

Residential For Sale

87 Pebblecreek Crescent, Dartmouth, NS B2W 0J9

Residential For Sale

Residential For Sale

Residential For Sale

37 Stockton Ridge, Bedford South, NS B4A 0E4

Residential For Sale

Residential For Sale

Residential For Sale

327 Lower Truro Road, Truro, NS B2N 1B2

Residential For Sale

Residential For Sale

Residential For Sale

26 Kytes Hill Drive, Grand Lake Road, NS B1M 1A7

Residential For Sale

Residential For Sale

Residential For Sale

3 Patricia Drive E, New Minas, NS B4N 5L3

Residential For Sale

Residential For Sale

Residential For Sale

19 Regent Street, North Sydney, NS B2A 2E3

Residential For Sale

Residential For Sale

Residential For Sale

185 Commercial Street, Middleton, NS B0S 1P0

Residential For Sale

Residential For Sale

Residential For Sale

138 Tattenham Crescent, Hammonds Plains, NS B4B 1V2

Residential For Sale

Residential For Sale

Residential For Sale

– 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.