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.

Property Type

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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

Residential For Sale

569 Long Cove Road, Port Medway, NS B0J 2T0

More Details

2Bedroom(s)

1Bathroom(s)

No GarageParking(s)

36Picture(s)

1,070Sqft

Listing courtesy of Engel & Volkers (Liverpool)

C$695000

Residential For Sale

569 Long Cove Road, Port Medway, NS B0J 2T0

2Bedroom(s)

1Bathroom(s)

No GarageParking(s)

1,070Sqft

Listing courtesy of Engel & Volkers (Liverpool)

Architecturally designed 2 bedroom chalet featuring stunning ocean views with 230 ft of bold tidal oceanfront.

C$695000

Residential For Sale

569 Long Cove Road, Port Medway, NS B0J 2T0

Listing courtesy of Engel & Volkers (Liverpool)

2Bedroom(s)

1Bathroom(s)

C$695000

Residential For Sale

124 West Black Rock Road, West Black Rock, NS B0P 1V0

More Details

5Bedroom(s)

2Bathroom(s)

DetachedParking(s)

40Picture(s)

1,854Sqft

Listing courtesy of Exit Realty Town & Country

C$524500

Residential For Sale

124 West Black Rock Road, West Black Rock, NS B0P 1V0

5Bedroom(s)

2Bathroom(s)

DetachedParking(s)

1,854Sqft

Listing courtesy of Exit Realty Town & Country

Nestled on over 14 acres of complete privacy in scenic West Black Rock, this charming single-level bungalow offers a peaceful retreat surrounded by nature.

C$524500

Residential For Sale

124 West Black Rock Road, West Black Rock, NS B0P 1V0

Listing courtesy of Exit Realty Town & Country

5Bedroom(s)

2Bathroom(s)

C$524500

Residential For Sale

13291 Highway 6, Wallace Bridge, NS B0K 1Y0

More Details

4Bedroom(s)

2Bathroom(s)

DetachedParking(s)

50Picture(s)

2,232Sqft

Listing courtesy of Coldwell Banker Performance Realty

C$499900

Residential For Sale

13291 Highway 6, Wallace Bridge, NS B0K 1Y0

4Bedroom(s)

2Bathroom(s)

DetachedParking(s)

2,232Sqft

Listing courtesy of Coldwell Banker Performance Realty

This four bedroom, waterfront home has much to offer & enjoy! From the moment you see the ocean backdrop, you may never want to leave this idyllic setting.

C$499900

Residential For Sale

13291 Highway 6, Wallace Bridge, NS B0K 1Y0

Listing courtesy of Coldwell Banker Performance Realty

4Bedroom(s)

2Bathroom(s)

C$499900

Residential For Sale

13291 Highway 6, Wallace Bridge, NS B0K 1Y0

More Details

4Bedroom(s)

2Bathroom(s)

DetachedParking(s)

50Picture(s)

2,232Sqft

Listing courtesy of Coldwell Banker Performance Realty

C$499900

Residential For Sale

13291 Highway 6, Wallace Bridge, NS B0K 1Y0

4Bedroom(s)

2Bathroom(s)

DetachedParking(s)

2,232Sqft

Listing courtesy of Coldwell Banker Performance Realty

This four bedroom, waterfront home has much to offer & enjoy! From the moment you see the ocean backdrop, you may never want to leave this idyllic setting.

C$499900

Residential For Sale

13291 Highway 6, Wallace Bridge, NS B0K 1Y0

Listing courtesy of Coldwell Banker Performance Realty

4Bedroom(s)

2Bathroom(s)

C$499900

Residential For Sale

8394 Highway 3, Port Mouton, NS B0T 1T0

More Details

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

28Picture(s)

1,200Sqft

Listing courtesy of EXIT Realty Inter Lake Liverpool

C$359000

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$359000

Residential For Sale

8394 Highway 3, Port Mouton, NS B0T 1T0

Listing courtesy of EXIT Realty Inter Lake Liverpool

3Bedroom(s)

1Bathroom(s)

C$359000

Residential For Sale

8627 311 Highway, Balfron, NS B0K 1V0

More Details

11Bedroom(s)

11Bathroom(s)

DoubleParking(s)

46Picture(s)

4,737Sqft

Listing courtesy of Sunrise Brokerage & Sales Ltd.

C$990000

Residential For Sale

8627 311 Highway, Balfron, NS B0K 1V0

11Bedroom(s)

11Bathroom(s)

DoubleParking(s)

4,737Sqft

Listing courtesy of Sunrise Brokerage & Sales Ltd.

This beautiful country property has a lot to offer! A large home with eight bedrooms and nine baths. On the main floor there is a formal dining room, large kitchen, three bedrooms, two full bathrooms and two half bathrooms. On the second floor there are five bedrooms and 4 bathrooms, most bedrooms have their own ensuite.

C$990000

Residential For Sale

8627 311 Highway, Balfron, NS B0K 1V0

Listing courtesy of Sunrise Brokerage & Sales Ltd.

11Bedroom(s)

11Bathroom(s)

C$990000

Residential For Sale

98 Wood Street, Truro, NS B2N 4T5

More Details

2Bedroom(s)

1Bathroom(s)

No GarageParking(s)

42Picture(s)

1,246Sqft

Listing courtesy of Keller Williams Select Realty (Truro)

C$269900

Residential For Sale

98 Wood Street, Truro, NS B2N 4T5

2Bedroom(s)

1Bathroom(s)

No GarageParking(s)

1,246Sqft

Listing courtesy of Keller Williams Select Realty (Truro)

Your dream home awaits at 98 Wood Street! Set on a landscaped 7,500 sq. ft. lot, this charming property offers space, mature trees, and easy upkeep. Step inside through the front mudroom, perfect for coats and boots. The bright living room features a large front-facing window, while the functional kitchen connects seamlessly to a formal dining area.

C$269900

Residential For Sale

98 Wood Street, Truro, NS B2N 4T5

Listing courtesy of Keller Williams Select Realty (Truro)

2Bedroom(s)

1Bathroom(s)

C$269900

Residential For Sale

2598 Mount Hanley Road, Mount Hanley, NS B0S 1P0

More Details

2Bedroom(s)

1Bathroom(s)

DetachedParking(s)

29Picture(s)

1,520Sqft

Listing courtesy of RE/MAX Banner Real Estate

C$249900

Residential For Sale

2598 Mount Hanley Road, Mount Hanley, NS B0S 1P0

2Bedroom(s)

1Bathroom(s)

DetachedParking(s)

1,520Sqft

Listing courtesy of RE/MAX Banner Real Estate

This beautifully updated historic home sits just steps from the stunning Bay of Fundy, known for its dramatic tides, fresh sea breezes, and unforgettable sunsets.

C$249900

Residential For Sale

2598 Mount Hanley Road, Mount Hanley, NS B0S 1P0

Listing courtesy of RE/MAX Banner Real Estate

2Bedroom(s)

1Bathroom(s)

C$249900

Residential For Sale

323 Turtle Cove Road, Middle New Cornwall, NS B0J 2E0

More Details

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

39Picture(s)

1,169Sqft

Listing courtesy of Royal Lepage Atlantic (Mahone Bay)

C$519900

Residential For Sale

323 Turtle Cove Road, Middle New Cornwall, NS B0J 2E0

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

1,169Sqft

Listing courtesy of Royal Lepage Atlantic (Mahone Bay)

Beautiful Waterfront property on Turtle Cove Road, on one of the best deep water lakes on the South Shore. This home will be ideal for summer cottage dwellers, but also can be utilized for cross-country skiing, skating and 4-wheeling enthusiasts all year round, as it is a winterized cottage with a well and septic (water currently drawn from the lake). Beautiful sunsets, campfire by the beach.

C$519900

Residential For Sale

323 Turtle Cove Road, Middle New Cornwall, NS B0J 2E0

Listing courtesy of Royal Lepage Atlantic (Mahone Bay)

3Bedroom(s)

1Bathroom(s)

C$519900

Residential For Sale

105 Haines Road, North Range, NS B0W 1H0

More Details

4Bedroom(s)

3Bathroom(s)

Circular DrivewayParking(s)

48Picture(s)

2,842Sqft

Listing courtesy of Royal LePage Atlantic (Greenwood)

C$600000

Residential For Sale

105 Haines Road, North Range, NS B0W 1H0

4Bedroom(s)

3Bathroom(s)

Circular DrivewayParking(s)

2,842Sqft

Listing courtesy of Royal LePage Atlantic (Greenwood)

Welcome to your lakeside sanctuary! Just 10 minutes from the conveniences of Digby, this beautifully maintained home offers the perfect blend of year-round comfort and cottage charm on the tranquil shores of Haines Lake. With 3+1 bedrooms and 3 full baths, this property offers space and flexibility for both everyday living and weekend getaways.

C$600000

Residential For Sale

105 Haines Road, North Range, NS B0W 1H0

Listing courtesy of Royal LePage Atlantic (Greenwood)

4Bedroom(s)

3Bathroom(s)

C$600000

Residential For Sale

21 High Street Estates, New Glasgow, NS B2H 4B9

More Details

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

7Picture(s)

1,152Sqft

Listing courtesy of J.F. MacIvor Properties

C$149000

Residential For Sale

21 High Street Estates, New Glasgow, NS B2H 4B9

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

1,152Sqft

Listing courtesy of J.F. MacIvor Properties

A 1998, 16 x 72 Mini Home in High Street Estates Mini Home Park, centrally located in the Town of New Glasgow, close to all amenities. Three bedroom, one bathroom layout and design on the interior. Currently vacant and ready for a new owner.

C$149000

Residential For Sale

21 High Street Estates, New Glasgow, NS B2H 4B9

Listing courtesy of J.F. MacIvor Properties

3Bedroom(s)

1Bathroom(s)

C$149000

4755 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

39170 Cabot Trail Road, Ingonish, NS B0C 1L0

Residential For Sale

Residential For Sale

Residential For Sale

569 Long Cove Road, Port Medway, NS B0J 2T0

Residential For Sale

Residential For Sale

Residential For Sale

124 West Black Rock Road, West Black Rock, NS B0P 1V0

Residential For Sale

Residential For Sale

Residential For Sale

13291 Highway 6, Wallace Bridge, NS B0K 1Y0

Residential For Sale

Residential For Sale

Residential For Sale

13291 Highway 6, Wallace Bridge, NS B0K 1Y0

Residential For Sale

Residential For Sale

Residential For Sale

8394 Highway 3, Port Mouton, NS B0T 1T0

Residential For Sale

Residential For Sale

Residential For Sale

8627 311 Highway, Balfron, NS B0K 1V0

Residential For Sale

Residential For Sale

Residential For Sale

98 Wood Street, Truro, NS B2N 4T5

Residential For Sale

Residential For Sale

Residential For Sale

2598 Mount Hanley Road, Mount Hanley, NS B0S 1P0

Residential For Sale

Residential For Sale

Residential For Sale

323 Turtle Cove Road, Middle New Cornwall, NS B0J 2E0

Residential For Sale

Residential For Sale

Residential For Sale

105 Haines Road, North Range, NS B0W 1H0

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.