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

445 Willow Avenue, New Glasgow Ns B2h 2a1

More Details

4Bedroom(s)

2Bathroom(s)

DoubleParking(s)

50Picture(s)

2,400Sqft

Listing courtesy of Viewpoint Realty Services Inc. (Pictou)

C$399000

Residential For Sale

445 Willow Avenue, New Glasgow Ns B2h 2a1

4Bedroom(s)

2Bathroom(s)

DoubleParking(s)

2,400Sqft

Listing courtesy of Viewpoint Realty Services Inc. (Pictou)

This spacious 1.5 storey home on New Glasgow’s sought-after west side offers comfort, functionality, and room to grow. Situated on a generous lot, this property features a large double garage and ample outdoor space for family enjoyment or future landscaping dreams. Step inside to a huge, welcoming foyer that sets the tone for the warmth and comfort found throughout the home.

C$399000

Residential For Sale

445 Willow Avenue, New Glasgow Ns B2h 2a1

Listing courtesy of Viewpoint Realty Services Inc. (Pictou)

4Bedroom(s)

2Bathroom(s)

C$399000

Residential For Sale

16 Woodside Drive, Waterside Ns B0k 1h0

More Details

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

21Picture(s)

720Sqft

Listing courtesy of Blinkhorn Real Estate Ltd.

C$239900

Residential For Sale

16 Woodside Drive, Waterside Ns B0k 1h0

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

720Sqft

Listing courtesy of Blinkhorn Real Estate Ltd.

Cottage by the ocean in Waterside NS! This charming three-bedroom cottage offers stunning ocean views and deeded access to a private beach. Located just a short drive from Caribou and the historic town of Pictou, this property is the perfect escape for those seeking tranquility. Enjoy your morning coffee on the spacious front deck while watching the PEI Ferry glide by.

C$239900

Residential For Sale

16 Woodside Drive, Waterside Ns B0k 1h0

Listing courtesy of Blinkhorn Real Estate Ltd.

3Bedroom(s)

1Bathroom(s)

C$239900

Residential For Sale

Lot 30 Anchors Way, East River Point Ns B0j 1t0

More Details

3Bedroom(s)

4Bathroom(s)

GravelParking(s)

15Picture(s)

2,348Sqft

Listing courtesy of Sotheby's International Realty Canada

C$2297000

Residential For Sale

Lot 30 Anchors Way, East River Point Ns B0j 1t0

3Bedroom(s)

4Bathroom(s)

GravelParking(s)

2,348Sqft

Listing courtesy of Sotheby's International Realty Canada

A Modern Coastal Retreat with Unrivaled Ocean Views Perched on Lot 30 within Bowen’s Brook Ocean Estates, The Cocoon is a rare and remarkable offering; an architectural sanctuary designed for those who seek refined modern living immersed in the rhythm of the ocean.

C$2297000

Residential For Sale

Lot 30 Anchors Way, East River Point Ns B0j 1t0

Listing courtesy of Sotheby's International Realty Canada

3Bedroom(s)

4Bathroom(s)

C$2297000

Residential For Sale

184 Vimy Road, Bible Hill Ns B2n 4j9

More Details

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

23Picture(s)

1,644Sqft

Listing courtesy of Royal LePage Truro Real Estate

C$345000

Residential For Sale

184 Vimy Road, Bible Hill Ns B2n 4j9

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

1,644Sqft

Listing courtesy of Royal LePage Truro Real Estate

An excellent place to start or settle; this home is outfitted with an accessible ramp leading straight from the driveway to the main door, perfect for those hoping to avoid stairs. Garden plots from the previous owner are ready for your green thumb, as well as some lovely trees and shrubbery dotting the yard. Seller is willing to build a garage for an additional negotiated price.

C$345000

Residential For Sale

184 Vimy Road, Bible Hill Ns B2n 4j9

Listing courtesy of Royal LePage Truro Real Estate

3Bedroom(s)

1Bathroom(s)

C$345000

Residential For Sale

12a-lot # 12a Kara Anne Court, New Minas Ns B4n 0h6

More Details

3Bedroom(s)

2Bathroom(s)

No GarageParking(s)

4Picture(s)

1,574Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

C$439000

Residential For Sale

12a-lot # 12a Kara Anne Court, New Minas Ns B4n 0h6

3Bedroom(s)

2Bathroom(s)

No GarageParking(s)

1,574Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

Go ahead & get excited! This brand new, three bedroom, 1.5 bath family home is now under construction. These quality built homes are conveniently located on the bus route.

C$439000

Residential For Sale

12a-lot # 12a Kara Anne Court, New Minas Ns B4n 0h6

Listing courtesy of Royal LePage Atlantic (New Minas)

3Bedroom(s)

2Bathroom(s)

C$439000

Residential For Sale

90 Hillcrest Road, Lower Debert Ns B0m 1g0

More Details

5Bedroom(s)

3Bathroom(s)

AttachedParking(s)

50Picture(s)

3,200Sqft

Listing courtesy of EXP Realty of Canada Inc.

C$2150000

Residential For Sale

90 Hillcrest Road, Lower Debert Ns B0m 1g0

5Bedroom(s)

3Bathroom(s)

AttachedParking(s)

3,200Sqft

Listing courtesy of EXP Realty of Canada Inc.

Discover the perfect fusion of luxury and income on 44 serene acres of rolling farmland. This standout estate features a beautifully renovated 5-bed, 3-bath farmhouse, a charming 2-bed, 1-bath bungalow, and a state-of-the-art geodesic glamping dome - all designed to elevate both lifestyle and revenue.

C$2150000

Residential For Sale

90 Hillcrest Road, Lower Debert Ns B0m 1g0

Listing courtesy of EXP Realty of Canada Inc.

5Bedroom(s)

3Bathroom(s)

C$2150000

Residential For Sale

39 Petite Riviere Road, Petite Rivière Ns B4v 5z2

More Details

3Bedroom(s)

1Bathroom(s)

OtherParking(s)

42Picture(s)

1,350Sqft

Listing courtesy of ViewPoint Realty Services Inc.(Lunenburg)

C$399000

Residential For Sale

39 Petite Riviere Road, Petite Rivière Ns B4v 5z2

3Bedroom(s)

1Bathroom(s)

OtherParking(s)

1,350Sqft

Listing courtesy of ViewPoint Realty Services Inc.(Lunenburg)

Dreaming of a home by the Beach? This century + home is adorable inside and filled with tons of original character such as original wainscotting, built-ins, high ceilings, clawfoot tub and lots of nooks and crannies.

C$399000

Residential For Sale

39 Petite Riviere Road, Petite Rivière Ns B4v 5z2

Listing courtesy of ViewPoint Realty Services Inc.(Lunenburg)

3Bedroom(s)

1Bathroom(s)

C$399000

Residential For Sale

65 Dublin Avenue, Bridgewater Ns B4v 1z7

More Details

3Bedroom(s)

2Bathroom(s)

AttachedParking(s)

33Picture(s)

2,200Sqft

Listing courtesy of EXIT Realty Inter Lake

C$449900

Residential For Sale

65 Dublin Avenue, Bridgewater Ns B4v 1z7

3Bedroom(s)

2Bathroom(s)

AttachedParking(s)

2,200Sqft

Listing courtesy of EXIT Realty Inter Lake

Charming 3-Bedroom Bungalow in Prime Location This meticulously maintained 3-bedroom bungalow offers comfort, space, and incredible potential. Featuring a spacious living room with a cozy propane fireplace, a walkout deck perfect for relaxing or entertaining, and an additional family room for added versatility, this home is ideal for growing families or downsizers alike.

C$449900

Residential For Sale

65 Dublin Avenue, Bridgewater Ns B4v 1z7

Listing courtesy of EXIT Realty Inter Lake

3Bedroom(s)

2Bathroom(s)

C$449900

Residential For Sale

518 Main Street, Sydney Mines Ns B1v 2k6

More Details

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

21Picture(s)

899Sqft

Listing courtesy of Exit Real Estate Professionals

C$129000

Residential For Sale

518 Main Street, Sydney Mines Ns B1v 2k6

2Bedroom(s)

1Bathroom(s)

GravelParking(s)

899Sqft

Listing courtesy of Exit Real Estate Professionals

Charming 1.5 Storey Home in the Heart of Sydney Mines Perfect for first-time buyers or savvy investors, this cozy two-bedroom, 1.5 storey home offers both convenience and potential. Located in the heart of Sydney Mines, you’re just a one-minute walk from the nearest bus stop, making commuting a breeze.

C$129000

Residential For Sale

518 Main Street, Sydney Mines Ns B1v 2k6

Listing courtesy of Exit Real Estate Professionals

2Bedroom(s)

1Bathroom(s)

C$129000

Residential For Sale

7714 Highway 3, Summerville Centre Ns B0t 1t0

More Details

2Bedroom(s)

1Bathroom(s)

SingleParking(s)

44Picture(s)

960Sqft

Listing courtesy of EXIT Realty Inter Lake Liverpool

C$499000

Residential For Sale

7714 Highway 3, Summerville Centre Ns B0t 1t0

2Bedroom(s)

1Bathroom(s)

SingleParking(s)

960Sqft

Listing courtesy of EXIT Realty Inter Lake Liverpool

Within walking distance to the white sands of Summerville Beach is this nearly brand new (2023) immaculate mini-home nestled on 1.4 acres of land. Inside the 60 x 16 home is a pristine and tasteful space with two good sized bedrooms at opposite ends for privacy.

C$499000

Residential For Sale

7714 Highway 3, Summerville Centre Ns B0t 1t0

Listing courtesy of EXIT Realty Inter Lake Liverpool

2Bedroom(s)

1Bathroom(s)

C$499000

Residential For Sale

250 Beaver Bank Road, Beaver Bank Ns B4e 1j7

More Details

4Bedroom(s)

3Bathroom(s)

DetachedParking(s)

50Picture(s)

3,390Sqft

Listing courtesy of Harbourside Realty Ltd.

C$839900

Residential For Sale

250 Beaver Bank Road, Beaver Bank Ns B4e 1j7

4Bedroom(s)

3Bathroom(s)

DetachedParking(s)

3,390Sqft

Listing courtesy of Harbourside Realty Ltd.

Welcome to 250 Beaver Bank Road, a peaceful and private retreat on a beautifully landscaped 0.52-acre lot in Beaver Bank. This home with a grand front entrance consists of 4 bedrooms, 3 bathrooms, and offers over 3,390 sq. Ft of finished living space across three levels, including a fully developed walkout basement with in-law or rental potential.

C$839900

Residential For Sale

250 Beaver Bank Road, Beaver Bank Ns B4e 1j7

Listing courtesy of Harbourside Realty Ltd.

4Bedroom(s)

3Bathroom(s)

C$839900

Residential For Sale

1-71-89 Radmer Drive, West Chezzetcook Ns B0j 2l0

More Details

2Bedroom(s)

3Bathroom(s)

AttachedParking(s)

4Picture(s)

1,439Sqft

Listing courtesy of Royal LePage Atlantic

C$499900

Residential For Sale

1-71-89 Radmer Drive, West Chezzetcook Ns B0j 2l0

2Bedroom(s)

3Bathroom(s)

AttachedParking(s)

1,439Sqft

Listing courtesy of Royal LePage Atlantic

Exciting Pre-Construction Opportunity: Phase 1 of The Nest at West Chezzetcook Looking to get into the market at an unbeatable price? This is your chance! Phase 1 of The Nest at West Chezzetcook offers single-level condo townhouses just 20 minutes east of Dartmouth, homes are just 2 kms away from superstore, Tim Horton, Shell etc.

C$499900

Residential For Sale

1-71-89 Radmer Drive, West Chezzetcook Ns B0j 2l0

Listing courtesy of Royal LePage Atlantic

2Bedroom(s)

3Bathroom(s)

C$499900

4699 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

445 Willow Avenue, New Glasgow Ns B2h 2a1

Residential For Sale

Residential For Sale

Residential For Sale

16 Woodside Drive, Waterside Ns B0k 1h0

Residential For Sale

Residential For Sale

Residential For Sale

Lot 30 Anchors Way, East River Point Ns B0j 1t0

Residential For Sale

Residential For Sale

Residential For Sale

184 Vimy Road, Bible Hill Ns B2n 4j9

Residential For Sale

Residential For Sale

Residential For Sale

12a-lot # 12a Kara Anne Court, New Minas Ns B4n 0h6

Residential For Sale

Residential For Sale

Residential For Sale

90 Hillcrest Road, Lower Debert Ns B0m 1g0

Residential For Sale

Residential For Sale

Residential For Sale

39 Petite Riviere Road, Petite Rivière Ns B4v 5z2

Residential For Sale

Residential For Sale

Residential For Sale

65 Dublin Avenue, Bridgewater Ns B4v 1z7

Residential For Sale

Residential For Sale

Residential For Sale

518 Main Street, Sydney Mines Ns B1v 2k6

Residential For Sale

Residential For Sale

Residential For Sale

7714 Highway 3, Summerville Centre Ns B0t 1t0

Residential For Sale

Residential For Sale

Residential For Sale

250 Beaver Bank Road, Beaver Bank Ns B4e 1j7

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.