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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

20 Indian Point Road, Glen Haven, NS B3Z 2V1

2Bedroom(s)
1Bathroom(s)
DoubleParking(s)
49Picture(s)
1,716Sqft
RE/MAX Nova (Halifax)
C$699900

Residential For Sale

20 Indian Point Road, Glen Haven, NS B3Z 2V1
2Bedroom(s)
1Bathroom(s)
DoubleParking(s)
1,716Sqft
RE/MAX Nova (Halifax)
Welcome to 20 Indian Point Road! This fully updated century home boasts over 200 feet of direct ocean frontage. Nestled on a beautiful landscaped lot, this property is paradise for outdoor enthusiasts. Enjoy boating, kayaking, canoeing and swimming right from your own back yard. A stunning waterfront home that combines elegance and comfort.
C$699900

Residential For Sale

20 Indian Point Road, Glen Haven, NS B3Z 2V1
RE/MAX Nova (Halifax)
2Bedroom(s)
1Bathroom(s)
C$699900

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Campbell Mountain Road, Churchview, NS B0E 3M0

1Bedroom(s)
SingleParking(s)
14Picture(s)
320Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
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Campbell Mountain Road, Churchview, NS B0E 3M0
1Bedroom(s)
SingleParking(s)
320Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
This 4-acre property is perfectly situated just minutes from the village of Whycocomagh, offering a mix of hardwood and softwood trees with a small sand pit at the front. Backing onto the scenic Skye River, it includes a brand-new, well-insulated tiny home with a propane/electric stove and solar panels for off-grid living, making it ideal for a private summer retreat or comfortable year-round use.
C$69000

Residential For Sale

Campbell Mountain Road, Churchview, NS B0E 3M0
Keller Williams Select Realty(Sydney,Townsend St.)
1Bedroom(s)
C$69000

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44 Sunrise Hill, Bedford, NS B4A 1V1

4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
40Picture(s)
2,050Sqft
Royal LePage Atlantic
C$639000

Residential For Sale

44 Sunrise Hill, Bedford, NS B4A 1V1
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
2,050Sqft
Royal LePage Atlantic
Located on a quiet street in one of Bedford’s most desirable family neighborhoods, this beautifully updated side-split offers space, style, and smart upgrades from top to bottom.
C$639000

Residential For Sale

44 Sunrise Hill, Bedford, NS B4A 1V1
Royal LePage Atlantic
4Bedroom(s)
3Bathroom(s)
C$639000

Residential For Sale

110 Capstone Crescent, Bedford, NS B4B 0H5

3Bedroom(s)
4Bathroom(s)
AttachedParking(s)
50Picture(s)
2,794Sqft
Exit Realty Metro
C$819900

Residential For Sale

110 Capstone Crescent, Bedford, NS B4B 0H5
3Bedroom(s)
4Bathroom(s)
AttachedParking(s)
2,794Sqft
Exit Realty Metro
This is it! Your chance to own a move-in ready home in one of the most desirable neighbourhoods in HRM. Impeccably maintained, 110 Capstone Crescent is the perfect fit for families looking for comfort, style, and convenience. The welcoming main floor boasts a spacious open concept design bathed in natural light, with 9' ceilings and plenty of room for entertaining.
C$819900

Residential For Sale

110 Capstone Crescent, Bedford, NS B4B 0H5
Exit Realty Metro
3Bedroom(s)
4Bathroom(s)
C$819900

Residential For Sale

3392 Highway 217, Tiverton, NS B0V 1G0

1Bedroom(s)
1Bathroom(s)
GravelParking(s)
29Picture(s)
420Sqft
RE/MAX Banner Real Estate
C$169000

Residential For Sale

3392 Highway 217, Tiverton, NS B0V 1G0
1Bedroom(s)
1Bathroom(s)
GravelParking(s)
420Sqft
RE/MAX Banner Real Estate
Welcome to this tiny waterfront home. Designed with attention to detail this brand new (completed June 2025) home may be what you have been dreaming of. The open concept main floor enjoys views of Petit Passage where you will see eagles and sea birds, watch the fishing fleet and the ferry pass by.
C$169000

Residential For Sale

3392 Highway 217, Tiverton, NS B0V 1G0
RE/MAX Banner Real Estate
1Bedroom(s)
1Bathroom(s)
C$169000

Residential For Sale

3392 Highway 217, Tiverton, NS B0V 1G0

1Bedroom(s)
1Bathroom(s)
GravelParking(s)
29Picture(s)
420Sqft
RE/MAX Banner Real Estate
C$169000

Residential For Sale

3392 Highway 217, Tiverton, NS B0V 1G0
1Bedroom(s)
1Bathroom(s)
GravelParking(s)
420Sqft
RE/MAX Banner Real Estate
Welcome to this tiny waterfront home. Designed with attention to detail this brand new (completed June 2025) home may be what you have been dreaming of. The open concept main floor enjoys views of Petit Passage where you will see eagles and sea birds, watch the fishing fleet and the ferry pass by.
C$169000

Residential For Sale

3392 Highway 217, Tiverton, NS B0V 1G0
RE/MAX Banner Real Estate
1Bedroom(s)
1Bathroom(s)
C$169000

Residential For Sale

293 Kydd Street, Bridgewater, NS B4V 3H2

3Bedroom(s)
2Bathroom(s)
SingleParking(s)
50Picture(s)
2,076Sqft
RE/MAX Banner Real Estate (Bridgewater)
C$399900

Residential For Sale

293 Kydd Street, Bridgewater, NS B4V 3H2
3Bedroom(s)
2Bathroom(s)
SingleParking(s)
2,076Sqft
RE/MAX Banner Real Estate (Bridgewater)
Welcome to 293 Kydd St. This well cared for home with over 2000 sq ft of finished living space features 3 bedrooms, 2 full baths and is tucked away in a wonderful private location at the end of a dead end street. The home is within easy walking distance of all town amenities including the hospital, shopping, grocery stores, sports facilities, parks and walking trails.
C$399900

Residential For Sale

293 Kydd Street, Bridgewater, NS B4V 3H2
RE/MAX Banner Real Estate (Bridgewater)
3Bedroom(s)
2Bathroom(s)
C$399900

Residential For Sale

1089 Pine Crest Drive, Centreville, NS B0P 1J0

3Bedroom(s)
3Bathroom(s)
DoubleParking(s)
50Picture(s)
1,900Sqft
Exit Realty Town & Country
C$625000

Residential For Sale

1089 Pine Crest Drive, Centreville, NS B0P 1J0
3Bedroom(s)
3Bathroom(s)
DoubleParking(s)
1,900Sqft
Exit Realty Town & Country
Immaculate Home in Pine Crest Subdivision - Quality, Comfort & Pride of Ownership. Welcome to this exceptionally well-built and meticulously maintained home in the highly sought-after Pine Crest subdivision. Offering over 1,900 sq. ft.
C$625000

Residential For Sale

1089 Pine Crest Drive, Centreville, NS B0P 1J0
Exit Realty Town & Country
3Bedroom(s)
3Bathroom(s)
C$625000

Residential For Sale

28 Joaquina Court, Dartmouth, NS B2X 3R1

4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
48Picture(s)
3,074Sqft
Engel & Volkers
C$1249500

Residential For Sale

28 Joaquina Court, Dartmouth, NS B2X 3R1
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
3,074Sqft
Engel & Volkers
Overlooking Lake Charles, 28 Joaquina Court seamlessly blends modern elegance with advanced energy efficiency. Thoughtfully built with an ICF foundation, spray foam insulation, and a fully ducted high-efficiency heat pump(rated to -25°C), this 4-bedroom, 3.5-bathroom home spans 3,188 sq. ft. across three impeccably finished levels.
C$1249500

Residential For Sale

28 Joaquina Court, Dartmouth, NS B2X 3R1
Engel & Volkers
4Bedroom(s)
4Bathroom(s)
C$1249500

Residential For Sale

2203 Highway 1, Auburn, NS B0P 1C0

3Bedroom(s)
2Bathroom(s)
OtherParking(s)
49Picture(s)
1,700Sqft
RE/MAX NOVA (Windsor)
C$409000

Residential For Sale

2203 Highway 1, Auburn, NS B0P 1C0
3Bedroom(s)
2Bathroom(s)
OtherParking(s)
1,700Sqft
RE/MAX NOVA (Windsor)
You'll fall in love with this charming 1.5-storey century home, ideally located just minutes from Highway 101 access and CFB Greenwood. Blending timeless character with extensive modern upgrades, this well-maintained property offers the perfect balance of comfort and convenience.
C$409000

Residential For Sale

2203 Highway 1, Auburn, NS B0P 1C0
RE/MAX NOVA (Windsor)
3Bedroom(s)
2Bathroom(s)
C$409000

Residential For Sale

223 Red Tail Drive, Newburne, NS B0J 2E0

3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
50Picture(s)
2,240Sqft
One Percent Realty East Inc.
C$709900

Residential For Sale

223 Red Tail Drive, Newburne, NS B0J 2E0
3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
2,240Sqft
One Percent Realty East Inc.
Discover the ultimate lakeside retreat, where privacy and breathtaking views of Church Lake await. As you travel down your driveway you will be captivated by the serene beauty of your 180 feet of pristine water frontage. Nestled on nearly two acres, this exceptional home seamlessly blends modern comfort with the tranquility of nature.
C$709900

Residential For Sale

223 Red Tail Drive, Newburne, NS B0J 2E0
One Percent Realty East Inc.
3Bedroom(s)
2Bathroom(s)
C$709900

Residential For Sale

10251-1025 Highway 1, Paradise, NS B0S 1R0

4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
42Picture(s)
3,284Sqft
Royal LePage Atlantic (Greenwood)
C$534900

Residential For Sale

10251-1025 Highway 1, Paradise, NS B0S 1R0
4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
3,284Sqft
Royal LePage Atlantic (Greenwood)
If you're searching for a beautiful property with timeless character, flexible zoning, an ideal location, and multiple living options—this could be the perfect fit for you! Step into a world of classic charm and modern convenience with this breathtaking century home, where rich history blends seamlessly with thoughtful updates.
C$534900

Residential For Sale

10251-1025 Highway 1, Paradise, NS B0S 1R0
Royal LePage Atlantic (Greenwood)
4Bedroom(s)
2Bathroom(s)
C$534900
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