There is no favorite listings!

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.

Sort Option
  • Listing ID
  • Total Finished Area
  • Price
  • Add date
  • Listing Status
Grid
List
Map
RSS

Residential For Sale

4526 Highway 7, Spanish Ship Bay Ns B0j 2a0

3Bedroom(s)
1Bathroom(s)
GravelParking(s)
28Picture(s)
1,232Sqft
Royal LePage Atlantic(Stellarton)
C$170000

Residential For Sale

4526 Highway 7, Spanish Ship Bay Ns B0j 2a0
3Bedroom(s)
1Bathroom(s)
GravelParking(s)
1,232Sqft
Royal LePage Atlantic(Stellarton)
This charming waterfront property is located along Highway 7 in the picturesque community of Spanish Ship Bay. Nestled between the historic Sherbrook Village and popular Liscomb community all while being a 15 min drive to all local amenities. Offering a beautiful view of the sheltered bay with access to the ocean, Home to many local fishing boats.
C$170000

Residential For Sale

4526 Highway 7, Spanish Ship Bay Ns B0j 2a0
Royal LePage Atlantic(Stellarton)
3Bedroom(s)
1Bathroom(s)
C$170000

Residential For Sale

1077 Shore Drive, Bedford Ns B4a 2e6

3Bedroom(s)
3Bathroom(s)
PavedParking(s)
46Picture(s)
2,864Sqft
INNOVATIVE REAL ESTATE LTD - A507
C$2749000

Residential For Sale

1077 Shore Drive, Bedford Ns B4a 2e6
3Bedroom(s)
3Bathroom(s)
PavedParking(s)
2,864Sqft
INNOVATIVE REAL ESTATE LTD - A507
The best kept secret in Halifax! Bedford is a short drive to the airport and downtown (just 15 minutes). Offering a deep water dock that welcomes up to a 50 boat and a waterfront of over 180 feet set against the picturesque backdrop of Long Cove. There are two driveways with space for more than 10 cars.
C$2749000

Residential For Sale

1077 Shore Drive, Bedford Ns B4a 2e6
INNOVATIVE REAL ESTATE LTD - A507
3Bedroom(s)
3Bathroom(s)
C$2749000

Residential For Sale

922 Bains Road, Sheffield Mills Ns B0p 1h0

6Bedroom(s)
4Bathroom(s)
DoubleParking(s)
47Picture(s)
3,860Sqft
Viewpoint Realty Services Inc.
C$1195000

Residential For Sale

922 Bains Road, Sheffield Mills Ns B0p 1h0
6Bedroom(s)
4Bathroom(s)
DoubleParking(s)
3,860Sqft
Viewpoint Realty Services Inc.
Take a drive on a winding country road backdropped by North Mountain... Surrounded by eagles in the heart of the lush Annapolis Valley you will find this extraordinary estate property.
C$1195000

Residential For Sale

922 Bains Road, Sheffield Mills Ns B0p 1h0
Viewpoint Realty Services Inc.
6Bedroom(s)
4Bathroom(s)
C$1195000

Residential For Sale

Lot 834 Belvar Drive, Middle Sackville Ns B4b 0x3

4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
46Picture(s)
3,312Sqft
Keller Williams Select Realty
C$1368800

Residential For Sale

Lot 834 Belvar Drive, Middle Sackville Ns B4b 0x3
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
3,312Sqft
Keller Williams Select Realty
Thoughtfully designed capturing amazing views & providing over 3300 sq ft of exquisite living spaces located in the FABULOUS new subdivision of McCabe Lake Estates...PEAK Award winner ReDesigns Construction excels in unique custom design, high quality build & finishes creating your fabulous new home.
C$1368800

Residential For Sale

Lot 834 Belvar Drive, Middle Sackville Ns B4b 0x3
Keller Williams Select Realty
4Bedroom(s)
4Bathroom(s)
C$1368800

Residential For Sale

3560 Purcells Cove Road, Fergusons Cove Ns B3p 1b6

5Bedroom(s)
4Bathroom(s)
AttachedParking(s)
39Picture(s)
6,474Sqft
Full Circle Realty Inc.
C$2125000

Residential For Sale

3560 Purcells Cove Road, Fergusons Cove Ns B3p 1b6
5Bedroom(s)
4Bathroom(s)
AttachedParking(s)
6,474Sqft
Full Circle Realty Inc.
Discover a stunning home built to last with concrete and Insulated Concrete Forms (ICF). Designed for comfort and grandeur, this property features eco-friendly systems, including in-floor hydronic heating for year-round warmth. The attention to detail in the construction and materials in this home are top grade.
C$2125000

Residential For Sale

3560 Purcells Cove Road, Fergusons Cove Ns B3p 1b6
Full Circle Realty Inc.
5Bedroom(s)
4Bathroom(s)
C$2125000

Residential For Sale

3643 209 Highway W, Advocate Harbour, NS B0M 1A0

3Bedroom(s)
3Bathroom(s)
SingleParking(s)
40Picture(s)
1,742Sqft
Viewpoint Realty Services Inc.(Antigonish)
C$295000

Residential For Sale

3643 209 Highway W, Advocate Harbour, NS B0M 1A0
3Bedroom(s)
3Bathroom(s)
SingleParking(s)
1,742Sqft
Viewpoint Realty Services Inc.(Antigonish)
Welcome to 3643 Highway 209, Advocate Harbour this well maintained property is currently looking for some new owners. The 3 bedroom, 2½ bath has had some extensive renovations and upgrades over the past number of years. Complementing the combination oil and wood forced air furnace are two mini split heat pumps, one in the living room the other in the primary bedroom.
C$295000

Residential For Sale

3643 209 Highway W, Advocate Harbour, NS B0M 1A0
Viewpoint Realty Services Inc.(Antigonish)
3Bedroom(s)
3Bathroom(s)
C$295000

Residential For Sale

9757 Main Street, Canning Ns B0p 1h0

8Bedroom(s)
8Bathroom(s)
DoubleParking(s)
50Picture(s)
3,665Sqft
Exit Realty Town & Country
C$919000

Residential For Sale

9757 Main Street, Canning Ns B0p 1h0
8Bedroom(s)
8Bathroom(s)
DoubleParking(s)
3,665Sqft
Exit Realty Town & Country
Welcome to 9757 Main Street, a distinguished property located in the charming village of Canning, Nova Scotia, on the edge of the picturesque Minas Basin. This exquisite 4.5-star bed and breakfast presents a unique opportunity to seamlessly blend living and business in one beautiful location.
C$919000

Residential For Sale

9757 Main Street, Canning Ns B0p 1h0
Exit Realty Town & Country
8Bedroom(s)
8Bathroom(s)
C$919000

Residential For Sale

Lot 3 - Sugar Loaf Road, Lochaber, Lochaber Ns B2g 2l3

1Bedroom(s)
1Bathroom(s)
GravelParking(s)
10Picture(s)
350Sqft
ROYAL LEPAGE HIGHLAND PROPERTIES - D100
C$67500

Residential For Sale

Lot 3 - Sugar Loaf Road, Lochaber, Lochaber Ns B2g 2l3
1Bedroom(s)
1Bathroom(s)
GravelParking(s)
350Sqft
ROYAL LEPAGE HIGHLAND PROPERTIES - D100
Small, off-grid cabin with loft on 1.1 acres of land overlooking beautiful Lochaber Lake. This 320 sq. ft. open concept cabin is architect designed and well built with a comfortable Murphy bed. It is a short walk to the lake where owners have a spot for their kayaks on the beach. Trails are accessible for walking and ATVS. Vermont Castings woodstove provides heat in shoulder seasons .
C$67500

Residential For Sale

Lot 3 - Sugar Loaf Road, Lochaber, Lochaber Ns B2g 2l3
ROYAL LEPAGE HIGHLAND PROPERTIES - D100
1Bedroom(s)
1Bathroom(s)
C$67500

Residential For Sale

3421 Highway16, Upper Fox Island Ns B0h 1h0

2Bedroom(s)
1Bathroom(s)
12Picture(s)
649Sqft
Del Mar Realty Inc.
C$196000

Residential For Sale

3421 Highway16, Upper Fox Island Ns B0h 1h0
2Bedroom(s)
1Bathroom(s)
649Sqft
Del Mar Realty Inc.
This property , 5.2 acres with approx. 720 feet of brook frontage , features a very privat house/ cottage in a small cottage development.It can be used as a year round residence. Open concept kitchen / dining area and living area. Two good size bedrooms and a three piece bathroom. The full size ,covered porch is overlooking the brook and adjacent woodland.
C$196000

Residential For Sale

3421 Highway16, Upper Fox Island Ns B0h 1h0
Del Mar Realty Inc.
2Bedroom(s)
1Bathroom(s)
C$196000

Residential For Sale

4289 Marble Mountain Road, Lime Hill Ns B0e 3k0

2Bedroom(s)
2Bathroom(s)
DetachedParking(s)
31Picture(s)
960Sqft
RE/MAX Park Place Inc. (Port Hawkesbury)
C$280000

Residential For Sale

4289 Marble Mountain Road, Lime Hill Ns B0e 3k0
2Bedroom(s)
2Bathroom(s)
DetachedParking(s)
960Sqft
RE/MAX Park Place Inc. (Port Hawkesbury)
This 2 BDRM, 2 BATH mini home is perched on a hill overlooking the beautiful Bras d'Or Lakes, and sits on 30 Acres of land. This 16x60 Maple Leaf home was built in 2009, and has a large 3/4 wrap around deck built in 2015, along with the 20x17 detached wired garage. 8x8 shed for extra storage. Plenty of parking for several vehicles. The living room has a propane fireplace.
C$280000

Residential For Sale

4289 Marble Mountain Road, Lime Hill Ns B0e 3k0
RE/MAX Park Place Inc. (Port Hawkesbury)
2Bedroom(s)
2Bathroom(s)
C$280000

Residential For Sale

Lot 3 - 161 Culloden Wharf Branch, Culloden Ns B0v 1a0

1Bedroom(s)
GravelParking(s)
35Picture(s)
231Sqft
Exit Realty Town & Country
C$249000

Residential For Sale

Lot 3 - 161 Culloden Wharf Branch, Culloden Ns B0v 1a0
1Bedroom(s)
GravelParking(s)
231Sqft
Exit Realty Town & Country
Welcome to 161 Culloden Wharf Branch, where you will find the opportunity to purchase your very own slice of heaven. Breathtaking, jaw dropping, serene, and just simply stunning are just a few words that will come to mind when you set your eyes upon this amazing property.
C$249000

Residential For Sale

Lot 3 - 161 Culloden Wharf Branch, Culloden Ns B0v 1a0
Exit Realty Town & Country
1Bedroom(s)
C$249000

Residential For Sale

1247 Sandy Point Road, Sandy Point Ns B0t 1w0

5Bedroom(s)
2Bathroom(s)
DetachedParking(s)
49Picture(s)
2,208Sqft
Sutton Group Professional Realty(Shelburne)
C$750000

Residential For Sale

1247 Sandy Point Road, Sandy Point Ns B0t 1w0
5Bedroom(s)
2Bathroom(s)
DetachedParking(s)
2,208Sqft
Sutton Group Professional Realty(Shelburne)
This beautiful 5 bedroom, 2 bathroom family home located on desirable Sandy Point is only a 10 minute drive to the historic Town of Shelburne and minutes to the Sandy Point Lighthouse. Not only does this 20 acre property boast spectacular sunset views of the Harbour, it also backs onto Mangum Lake with ~130' of shoreline.
C$750000

Residential For Sale

1247 Sandy Point Road, Sandy Point Ns B0t 1w0
Sutton Group Professional Realty(Shelburne)
5Bedroom(s)
2Bathroom(s)
C$750000
4678 Results returned.Per Page
Style Selector
Select the layout
Choose the theme
Preset colors
No Preset
Select the pattern