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

157 Meldrum Avenue, Conquerall Bank, NS B4V 8V6

More Details

3Bedroom(s)

4Bathroom(s)

GravelParking(s)

19Picture(s)

2,200Sqft

Listing courtesy of INNOVATIVE REAL ESTATE LTD - A507

C$649000

Residential For Sale

157 Meldrum Avenue, Conquerall Bank, NS B4V 8V6

3Bedroom(s)

4Bathroom(s)

GravelParking(s)

2,200Sqft

Listing courtesy of INNOVATIVE REAL ESTATE LTD - A507

A RARE FIND WITH BOTH RESIDENTIAL COMFORT & BUSINESS POTENTIAL UNDER ONE ROOF WITH MUNICIPAL TAXES. This home is zoned for residential and commercial.

C$649000

Residential For Sale

157 Meldrum Avenue, Conquerall Bank, NS B4V 8V6

Listing courtesy of INNOVATIVE REAL ESTATE LTD - A507

3Bedroom(s)

4Bathroom(s)

C$649000

Residential For Sale

112 Samaa Court, Bedford West, NS B4B 0Y4

More Details

5Bedroom(s)

5Bathroom(s)

AttachedParking(s)

48Picture(s)

3,621Sqft

Listing courtesy of Royal LePage Atlantic

C$1195000

Residential For Sale

112 Samaa Court, Bedford West, NS B4B 0Y4

5Bedroom(s)

5Bathroom(s)

AttachedParking(s)

3,621Sqft

Listing courtesy of Royal LePage Atlantic

Welcome to 112 Samaa Court in the popular Parks of West Bedford. This newly completed home offers 5 spacious bedrooms with custom built-out closets, 4.5 bathrooms, designer finishes, and a well-planned in-law suite perfect for extended family. Convenience and comfort are built into every detail.

C$1195000

Residential For Sale

112 Samaa Court, Bedford West, NS B4B 0Y4

Listing courtesy of Royal LePage Atlantic

5Bedroom(s)

5Bathroom(s)

C$1195000

Residential For Sale

55-185 Darner Drive, Beaver Bank, NS B4G 1C1

More Details

3Bedroom(s)

4Bathroom(s)

AttachedParking(s)

46Picture(s)

1,782Sqft

Listing courtesy of Royal LePage Atlantic

C$599900

Residential For Sale

55-185 Darner Drive, Beaver Bank, NS B4G 1C1

3Bedroom(s)

4Bathroom(s)

AttachedParking(s)

1,782Sqft

Listing courtesy of Royal LePage Atlantic

Meet "Anna", a thoughtfully planned 3-bedroom, 3.5-bathroom 2-storey home by Rooftight Homes, located in the charming community of Carriagewood Estates in Beaver Bank in Halifax, Nova Scotia.

C$599900

Residential For Sale

55-185 Darner Drive, Beaver Bank, NS B4G 1C1

Listing courtesy of Royal LePage Atlantic

3Bedroom(s)

4Bathroom(s)

C$599900

Residential For Sale

53 East Street, Sydney, NS B1N 1S7

More Details

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

14Picture(s)

1,141Sqft

Listing courtesy of Keller Williams Select Realty(Sydney,Townsend St.)

C$239000

Residential For Sale

53 East Street, Sydney, NS B1N 1S7

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

1,141Sqft

Listing courtesy of Keller Williams Select Realty(Sydney,Townsend St.)

Welcome to this charming family home located on East Street in the heart of Whitney Pier. One of Cape Breton's friendliest and most quietly desirable neighbourhoods. Here, neighbours know one another, kids can walk safely, and community pride runs deep. Close to schools, yet far enough to keep things peaceful, this location offers the perfect balance of convenience and calm.

C$239000

Residential For Sale

53 East Street, Sydney, NS B1N 1S7

Listing courtesy of Keller Williams Select Realty(Sydney,Townsend St.)

3Bedroom(s)

1Bathroom(s)

C$239000

Residential For Sale

53 Elm Street, Central Onslow, NS B6L 5C1

More Details

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

12Picture(s)

960Sqft

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

C$149900

Residential For Sale

53 Elm Street, Central Onslow, NS B6L 5C1

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

960Sqft

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

This 2 bedroom, l bathroom mini home is an excellent opportunity for first time buyers, downsizers, or anyone seeking affordable living in a convenient location. Its unique layout features two comfortably sized bedrooms positioned on opposite ends for added privacy.

C$149900

Residential For Sale

53 Elm Street, Central Onslow, NS B6L 5C1

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

2Bedroom(s)

1Bathroom(s)

C$149900

Residential For Sale

42 Beecher's Lane, East Ferry, NS B0V 1E0

More Details

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

36Picture(s)

1,120Sqft

Listing courtesy of Engel & Volkers (Annapolis Royal)

C$1400000

Residential For Sale

42 Beecher's Lane, East Ferry, NS B0V 1E0

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

1,120Sqft

Listing courtesy of Engel & Volkers (Annapolis Royal)

Nestled in East Ferry, Nova Scotia, "Beecher’s Lane" offers a unique opportunity to experience tranquil coastal living in East Ferry.The area is renowned for its rugged coastline, breathtaking views of the Bay of Fundy, and easy access to outdoor activities such as whale watching, kayaking, hiking, and beach-combing.

C$1400000

Residential For Sale

42 Beecher's Lane, East Ferry, NS B0V 1E0

Listing courtesy of Engel & Volkers (Annapolis Royal)

3Bedroom(s)

1Bathroom(s)

C$1400000

Residential For Sale

140 Parish Street, Fall River, NS B2T 0W9

More Details

4Bedroom(s)

3Bathroom(s)

AttachedParking(s)

9Picture(s)

2,822Sqft

Listing courtesy of Keller Williams Select Realty

C$899900

Residential For Sale

140 Parish Street, Fall River, NS B2T 0W9

4Bedroom(s)

3Bathroom(s)

AttachedParking(s)

2,822Sqft

Listing courtesy of Keller Williams Select Realty

Introducing The MacIntyre by Nova East Homes - a tranquil 1.65 acre retreat on Parish Street, tucked back in nature yet just moments from major routes and amenities. This home offers a private oasis feel with ample personal space, open living design, and every modern comfort you could want. Inside, warmth and light define the experience.

C$899900

Residential For Sale

140 Parish Street, Fall River, NS B2T 0W9

Listing courtesy of Keller Williams Select Realty

4Bedroom(s)

3Bathroom(s)

C$899900

Residential For Sale

1312 Waverley Road, Waverley, NS B2R 1W5

More Details

5Bedroom(s)

3Bathroom(s)

DoubleParking(s)

50Picture(s)

2,896Sqft

Listing courtesy of Exit Real Estate Professionals

C$1100000

Residential For Sale

1312 Waverley Road, Waverley, NS B2R 1W5

5Bedroom(s)

3Bathroom(s)

DoubleParking(s)

2,896Sqft

Listing courtesy of Exit Real Estate Professionals

Discover a truly rare opportunity at 1312 Waverley Road, a split-entry home that offers far more than meets the eye. This lovingly maintained ICF family residence features 5 bedrooms and 3 bathrooms, providing the perfect layout for growing families or those seeking space, comfort, and long-term value.

C$1100000

Residential For Sale

1312 Waverley Road, Waverley, NS B2R 1W5

Listing courtesy of Exit Real Estate Professionals

5Bedroom(s)

3Bathroom(s)

C$1100000

Residential For Sale

11 Melrose Crescent, Eastern Passage, NS B3G 1N6

More Details

3Bedroom(s)

2Bathroom(s)

PavedParking(s)

31Picture(s)

1,275Sqft

Listing courtesy of Royal LePage Atlantic - Valley(Windsor)

C$424900

Residential For Sale

11 Melrose Crescent, Eastern Passage, NS B3G 1N6

3Bedroom(s)

2Bathroom(s)

PavedParking(s)

1,275Sqft

Listing courtesy of Royal LePage Atlantic - Valley(Windsor)

Welcome to your new home! Nestled adjacent to a conservation area, your backyard offers breathtaking views of the wilderness. Featuring 3 bedrooms and 1.

C$424900

Residential For Sale

11 Melrose Crescent, Eastern Passage, NS B3G 1N6

Listing courtesy of Royal LePage Atlantic - Valley(Windsor)

3Bedroom(s)

2Bathroom(s)

C$424900

Residential For Sale

71 Woodward Crescent, Halifax, NS B3M 1J6

More Details

5Bedroom(s)

3Bathroom(s)

AttachedParking(s)

44Picture(s)

2,252Sqft

Listing courtesy of Red Door Realty

C$630000

Residential For Sale

71 Woodward Crescent, Halifax, NS B3M 1J6

5Bedroom(s)

3Bathroom(s)

AttachedParking(s)

2,252Sqft

Listing courtesy of Red Door Realty

This is a very special listing. Rarely does an opportunity come up to buy a family home, backing onto a forest in Clayton Park, owned by the same family for over 50 years, with close walking distance to school for children. Ready for a new family, owning this property will be a wonderful new beginning to create lots of happy family memories.

C$630000

Residential For Sale

71 Woodward Crescent, Halifax, NS B3M 1J6

Listing courtesy of Red Door Realty

5Bedroom(s)

3Bathroom(s)

C$630000

Residential For Sale

100 Highland Street, Glace Bay, NS B1A 2V1

More Details

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

39Picture(s)

1,344Sqft

Listing courtesy of RE/MAX Park Place Inc.

C$229000

Residential For Sale

100 Highland Street, Glace Bay, NS B1A 2V1

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

1,344Sqft

Listing courtesy of RE/MAX Park Place Inc.

Attractive and move in ready! These are the words you want to hear when looking for your new home. Sitting on a 10,000 sq ft lot with a detached garage and room for future development. Entering at the front, you come into a spacious foyer that offers plenty of space for everyone to get inside and out of the weather.

C$229000

Residential For Sale

100 Highland Street, Glace Bay, NS B1A 2V1

Listing courtesy of RE/MAX Park Place Inc.

3Bedroom(s)

2Bathroom(s)

C$229000

Residential For Sale

1055 Northfield Road, Northfield, NS B0T 1B0

More Details

3Bedroom(s)

2Bathroom(s)

DetachedParking(s)

39Picture(s)

1,539Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

C$295000

Residential For Sale

1055 Northfield Road, Northfield, NS B0T 1B0

3Bedroom(s)

2Bathroom(s)

DetachedParking(s)

1,539Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

Welcome to your 5-acre country retreat in beautiful Queens County, Nova Scotia. This renovated two-storey home offers a bright living experience with fresh paint and new trim, flooring, plugs, and switches throughout. The main floor features an open concept kitchen with sunken living room with 10' ceilings and a formal dining room.

C$295000

Residential For Sale

1055 Northfield Road, Northfield, NS B0T 1B0

Listing courtesy of Royal LePage Atlantic (New Minas)

3Bedroom(s)

2Bathroom(s)

C$295000

3352 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

157 Meldrum Avenue, Conquerall Bank, NS B4V 8V6

Residential For Sale

Residential For Sale

Residential For Sale

112 Samaa Court, Bedford West, NS B4B 0Y4

Residential For Sale

Residential For Sale

Residential For Sale

55-185 Darner Drive, Beaver Bank, NS B4G 1C1

Residential For Sale

Residential For Sale

Residential For Sale

53 East Street, Sydney, NS B1N 1S7

Residential For Sale

Residential For Sale

Residential For Sale

53 Elm Street, Central Onslow, NS B6L 5C1

Residential For Sale

Residential For Sale

Residential For Sale

42 Beecher's Lane, East Ferry, NS B0V 1E0

Residential For Sale

Residential For Sale

Residential For Sale

140 Parish Street, Fall River, NS B2T 0W9

Residential For Sale

Residential For Sale

Residential For Sale

1312 Waverley Road, Waverley, NS B2R 1W5

Residential For Sale

Residential For Sale

Residential For Sale

11 Melrose Crescent, Eastern Passage, NS B3G 1N6

Residential For Sale

Residential For Sale

Residential For Sale

71 Woodward Crescent, Halifax, NS B3M 1J6

Residential For Sale

Residential For Sale

Residential For Sale

100 Highland Street, Glace Bay, NS B1A 2V1

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.