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

1353 Blue Sea Road, Malagash Point, NS B0K 1E0

More Details

3Bedroom(s)

2Bathroom(s)

DetachedParking(s)

50Picture(s)

1,176Sqft

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

C$448000

Residential For Sale

1353 Blue Sea Road, Malagash Point, NS B0K 1E0

3Bedroom(s)

2Bathroom(s)

DetachedParking(s)

1,176Sqft

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

Still looking for a prime piece of Nova Scotia? Here it is! Stunning waterfront property with unobstructed views of the Northumberland Strait and magnificent wildlife scenery. Situated on approximately 6.5 acres you'll find a 3 bedroom 2 bath bungalow with a detached single car garage/workshop.

C$448000

Residential For Sale

1353 Blue Sea Road, Malagash Point, NS B0K 1E0

Listing courtesy of Coldwell Banker Open Door Realty Ltd.

3Bedroom(s)

2Bathroom(s)

C$448000

Residential For Sale

22 Pent Road, Harbourville, NS B0P 1E0

More Details

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

19Picture(s)

1,000Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

C$310000

Residential For Sale

22 Pent Road, Harbourville, NS B0P 1E0

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

1,000Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

Harbourville, Bay of Fundy – Year-Round Home or Summer Escape Discover your coastal haven with this charming 3-bedroom, 1-bath home offering panoramic views of the Bay of Fundy. Perfect as a year-round residence or a serene summer cottage, this property sits on a quiet dead-end road, offering peace, privacy, and breathtaking sunsets from your own private deck.

C$310000

Residential For Sale

22 Pent Road, Harbourville, NS B0P 1E0

Listing courtesy of Royal LePage Atlantic (New Minas)

3Bedroom(s)

1Bathroom(s)

C$310000

Residential For Sale

15491 Cabot Trail Road, Chéticamp, NS B0E 1H0

More Details

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

25Picture(s)

1,170Sqft

Listing courtesy of Red Door Realty

C$279000

Residential For Sale

15491 Cabot Trail Road, Chéticamp, NS B0E 1H0

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

1,170Sqft

Listing courtesy of Red Door Realty

With spectacular direct waterfront access and views, the backyard of this charming older home is a true show stopper! Here, you’ll enjoy sweeping vistas of the breathtaking Cape Breton sunsets, all from the comfort of your own deck that feels like it's floating above the water. This newly renovated 2 + 1 bedroom, 1.

C$279000

Residential For Sale

15491 Cabot Trail Road, Chéticamp, NS B0E 1H0

Listing courtesy of Red Door Realty

3Bedroom(s)

2Bathroom(s)

C$279000

Residential For Sale

31 Kings Wharf Place, Dartmouth, NS B2Y 0C1

More Details

2Bedroom(s)

2Bathroom(s)

UndergroundParking(s)

50Picture(s)

1,375Sqft

Listing courtesy of RE/MAX Nova

C$784800

Residential For Sale

31 Kings Wharf Place, Dartmouth, NS B2Y 0C1

2Bedroom(s)

2Bathroom(s)

UndergroundParking(s)

1,375Sqft

Listing courtesy of RE/MAX Nova

Welcome to Unit 502 ~ The Keelson at Kings Wharf, Dartmouth’s premier waterfront community. This spacious corner unit condo featuring 1,375 square foot two-bedroom, two-bath condo with a den and offers the perfect blend of comfort, style, and convenience with stunning waterviews.

C$784800

Residential For Sale

31 Kings Wharf Place, Dartmouth, NS B2Y 0C1

Listing courtesy of RE/MAX Nova

2Bedroom(s)

2Bathroom(s)

C$784800

Residential For Sale

15398 Highway 4, Johnstown, NS B0E 3B0

More Details

4Bedroom(s)

2Bathroom(s)

SingleParking(s)

49Picture(s)

1,714Sqft

Listing courtesy of Cape Breton Realty

C$478000

Residential For Sale

15398 Highway 4, Johnstown, NS B0E 3B0

4Bedroom(s)

2Bathroom(s)

SingleParking(s)

1,714Sqft

Listing courtesy of Cape Breton Realty

Charming Country Home with 78 Acres & Lake Views | Investment Opportunity This delightful two-story, four-bedroom, two-bathroom home sits on 78 acres of land, all located on the same side of the road as the home and barn, offering privacy and space with no split parcels.

C$478000

Residential For Sale

15398 Highway 4, Johnstown, NS B0E 3B0

Listing courtesy of Cape Breton Realty

4Bedroom(s)

2Bathroom(s)

C$478000

Residential For Sale

78 Whistle Stop Court, Westchester, NS B0M 2A0

More Details

2Bedroom(s)

2Bathroom(s)

GravelParking(s)

27Picture(s)

1,000Sqft

Listing courtesy of Coldwell Banker Performance Realty

C$389900

Residential For Sale

78 Whistle Stop Court, Westchester, NS B0M 2A0

2Bedroom(s)

2Bathroom(s)

GravelParking(s)

1,000Sqft

Listing courtesy of Coldwell Banker Performance Realty

One Year Old Home in Quaint Rural Setting! Nestled amongst the trees in a charming rural setting, this one-year-old home offers the perfect retreat, whether year-round or as a ski destination.

C$389900

Residential For Sale

78 Whistle Stop Court, Westchester, NS B0M 2A0

Listing courtesy of Coldwell Banker Performance Realty

2Bedroom(s)

2Bathroom(s)

C$389900

Residential For Sale

578 Lower Cove Road, Lower Cove, NS B0L 1A0

More Details

2Bedroom(s)

1Bathroom(s)

DoubleParking(s)

46Picture(s)

1,045Sqft

Listing courtesy of Royal LePage Cumberland Realty Ltd.

C$179900

Residential For Sale

578 Lower Cove Road, Lower Cove, NS B0L 1A0

2Bedroom(s)

1Bathroom(s)

DoubleParking(s)

1,045Sqft

Listing courtesy of Royal LePage Cumberland Realty Ltd.

This charming property, with its stunning views of the Bay of Fundy, has been lovingly maintained by the same family for 48 years. Nestled directly across from beach access, you can spend your days exploring the tidal beach floor for hidden treasures or casting a line for sea bass. Alternatively, relax on the front porch, where the views are simply breathtaking.

C$179900

Residential For Sale

578 Lower Cove Road, Lower Cove, NS B0L 1A0

Listing courtesy of Royal LePage Cumberland Realty Ltd.

2Bedroom(s)

1Bathroom(s)

C$179900

Residential For Sale

30 Deep Woods Lane, Enfield, NS B2T 1G9

More Details

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

41Picture(s)

1,889Sqft

Listing courtesy of Keller Williams Select Realty (Elmsdale)

C$569900

Residential For Sale

30 Deep Woods Lane, Enfield, NS B2T 1G9

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

1,889Sqft

Listing courtesy of Keller Williams Select Realty (Elmsdale)

Introducing 30 Deep Woods Lane, a charming home with a detached garage nestled on a beautiful and peaceful 2.87-acre wooded lot. This home offers rustic character and modern versatility. The main floor features an open-concept kitchen, dining, and living space with warm wood finishes and a spacious 4-piece bathroom.

C$569900

Residential For Sale

30 Deep Woods Lane, Enfield, NS B2T 1G9

Listing courtesy of Keller Williams Select Realty (Elmsdale)

3Bedroom(s)

2Bathroom(s)

C$569900

Residential For Sale

773 Lower Cove Road, Lower Cove, NS B0L 1A0

More Details

4Bedroom(s)

2Bathroom(s)

Circular DrivewayParking(s)

50Picture(s)

1,480Sqft

Listing courtesy of Royal LePage Cumberland Realty Ltd.

C$169900

Residential For Sale

773 Lower Cove Road, Lower Cove, NS B0L 1A0

4Bedroom(s)

2Bathroom(s)

Circular DrivewayParking(s)

1,480Sqft

Listing courtesy of Royal LePage Cumberland Realty Ltd.

Tucked away on a quiet road in Lower Cove and overlooking the stunning Bay of Fundy, this charming country home is nestled on a beautifully landscaped 1.2-acre parcel. If you love the outdoors, breathtaking coastal views, bass fishing, and exploring the sea floor, this is the perfect place to call home.

C$169900

Residential For Sale

773 Lower Cove Road, Lower Cove, NS B0L 1A0

Listing courtesy of Royal LePage Cumberland Realty Ltd.

4Bedroom(s)

2Bathroom(s)

C$169900

Residential For Sale

136 Wolfe Street, Liverpool, NS B0T 1K0

More Details

1Bedroom(s)

1Bathroom(s)

NoneParking(s)

23Picture(s)

200Sqft

Listing courtesy of EXIT Realty Inter Lake (Liverpool)

C$45000

Residential For Sale

136 Wolfe Street, Liverpool, NS B0T 1K0

1Bedroom(s)

1Bathroom(s)

NoneParking(s)

200Sqft

Listing courtesy of EXIT Realty Inter Lake (Liverpool)

Seasonal Cabin / Bunkie (approx. 20 x 10) with low-maintenance metal exterior sheathing and metal roof on a cleared, mature 4,134 sq. ft. lot in the heart of Liverpool. Power is already in place, and connections to municipal water & sewer are available. While being sold 'as-is, 'where-is', once completed, this project presents lots of options for a new owner.

C$45000

Residential For Sale

136 Wolfe Street, Liverpool, NS B0T 1K0

Listing courtesy of EXIT Realty Inter Lake (Liverpool)

1Bedroom(s)

1Bathroom(s)

C$45000

Residential For Sale

43 Lorne Crescent, Amherst, NS B4H 4A7

More Details

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

25Picture(s)

940Sqft

Listing courtesy of RE/MAX County Line Realty Ltd.

C$189900

Residential For Sale

43 Lorne Crescent, Amherst, NS B4H 4A7

3Bedroom(s)

1Bathroom(s)

SingleParking(s)

940Sqft

Listing courtesy of RE/MAX County Line Realty Ltd.

COMPLETELY RENOVATED TWO BEDROOM, ONE BATH MINI-HOME! This property is located off of Costin Drive minutes from downtown Amherst. The home has been recently stripped and is all new renovation, offering a front entry, open concept kitchen, living room, dining room, large primary bedroom, full bath and guest bedrooms.

C$189900

Residential For Sale

43 Lorne Crescent, Amherst, NS B4H 4A7

Listing courtesy of RE/MAX County Line Realty Ltd.

3Bedroom(s)

1Bathroom(s)

C$189900

Residential For Sale

47 Simona Drive, Dartmouth, NS B2X 0E1

More Details

4Bedroom(s)

4Bathroom(s)

DoubleParking(s)

2Picture(s)

2,643Sqft

Listing courtesy of Royal LePage Atlantic

C$679900

Residential For Sale

47 Simona Drive, Dartmouth, NS B2X 0E1

4Bedroom(s)

4Bathroom(s)

DoubleParking(s)

2,643Sqft

Listing courtesy of Royal LePage Atlantic

Welcome to Lot 19 Unit B Simona Drive, Dartmouth. Located in the picturesque Parks of Lake Charles neighbourhood, this semi-detached 2-storey home with a walkout basement offers the perfect combination of modern design and functional comfort. With 4 bedrooms and 3.5 bathrooms, it's designed to cater to both family living and entertaining.

C$679900

Residential For Sale

47 Simona Drive, Dartmouth, NS B2X 0E1

Listing courtesy of Royal LePage Atlantic

4Bedroom(s)

4Bathroom(s)

C$679900

4821 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

1353 Blue Sea Road, Malagash Point, NS B0K 1E0

Residential For Sale

Residential For Sale

Residential For Sale

22 Pent Road, Harbourville, NS B0P 1E0

Residential For Sale

Residential For Sale

Residential For Sale

15491 Cabot Trail Road, Chéticamp, NS B0E 1H0

Residential For Sale

Residential For Sale

Residential For Sale

31 Kings Wharf Place, Dartmouth, NS B2Y 0C1

Residential For Sale

Residential For Sale

Residential For Sale

15398 Highway 4, Johnstown, NS B0E 3B0

Residential For Sale

Residential For Sale

Residential For Sale

78 Whistle Stop Court, Westchester, NS B0M 2A0

Residential For Sale

Residential For Sale

Residential For Sale

578 Lower Cove Road, Lower Cove, NS B0L 1A0

Residential For Sale

Residential For Sale

Residential For Sale

30 Deep Woods Lane, Enfield, NS B2T 1G9

Residential For Sale

Residential For Sale

Residential For Sale

773 Lower Cove Road, Lower Cove, NS B0L 1A0

Residential For Sale

Residential For Sale

Residential For Sale

136 Wolfe Street, Liverpool, NS B0T 1K0

Residential For Sale

Residential For Sale

Residential For Sale

43 Lorne Crescent, Amherst, NS B4H 4A7

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.