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Stop Paying Rent

How to Stop Paying Rent and Own Your Own Home

 

Don’t pay another cent in rent to your landlord! 

 

It’s a dream we all have – to own our own home and stop paying rent.  But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours.  How could it when you’re not even permitted to bang in a nail or two without a hassle?  You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home

Well, don’t feel trapped anymore!  It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem.  The truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner.  With this information, you will begin to see how you really can:

– save for a down payment

– stop lining your landlord’s pockets, and
– stop wasting thousands of dollars on rent.

 

6 Little Known Facts That Can Help You Buy Your First Home

 

The problem that most renters face isn’t your ability to meet a monthly payment. Goodness knows you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.

But saving for this lump sum doesn’t have to be as difficult as you might think.  Consider the following 6 important points:

You can buy a home with much less down than you think.

There are some local or federal government programs (such as 1st time buyer programs) to help people get into the housing market.  You can qualify as a first time buyer even if your spouse has  owned a home before as long as your name was not registered.  Ensure your real estate agent is informed and knowledgeable in this important area and can offer programs to help you with your options.

You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down-payment, if you are debt-free, and own an asset free and clear (such as a car, for example), your lending institution may be able to lend you the down-payment for your home by securing it against this asset.

 

You may be able to find a seller to help you buy and finance your home.

Some sellers may be willing to hold a second mortgage for you as a “seller take-back.”  In this case, the seller becomes your lending institution.  Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.

 

You may be able to create a cash down payment without actually going into debt.

By borrowing money for certain investments to a specified level, you may be able to generate a significant tax refund for yourself that you can use as a down-payment.  While the money borrowed for these investments is technically a loan, the monthly amount paid can be small, and the money invested in both home and investment will be yours in the end.

You can buy a home even if you have problems with your credit rating.

If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage.  Alternatively, a seller take-back mortgage could also help you in this situation.

 

You can, and should, get preapproved for a home loan before you go looking for a home.

Preapproval is easy, and can give you complete peace-of-mind when shopping for your home. Mortgage experts can obtain written preapproval for you at no cost and no obligation, and it can all be done quite easily over-the-phone.  More than just a verbal approval from your lending institution, a written preapproval is as good as money in the bank.  It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.

 

 

Consider dealing only with a professional who specializes in mortgages.  Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter’s rut forever. Typically there is no cost or obligation to enquire.

To sum up, there are many important issues you should be aware of that affect you as a renter.  Why on earth would you continue to lose thousands by throwing it away on rent when with your agent you could take a few minutes to discuss your specific needs so that you can stop renting and start owning?

This conversation costs you nothing. And, of course, you shouldn’t have to feel obligated to buy a home at the time you review this.  But by taking the time to explore your options, and learn about the ways you can afford to buy a home, think how prepared and relaxed you’ll be when you are ready to make this important step.

9 Buyer Traps & How to Avoid Them

No matter which way you look at it, buying a home is a major investment.  But for many home buyers, it can be an even more expensive process than it needs to be because many fall prey to at least a few of the many common and costly mistakes which trap them into either:

* paying too much for the home they want, or
* losing their dream home to another buyer or,
* (worse) buying the wrong home for their needs.

A systemized approach to the home buying process can help you steer clear of these common traps, allowing you to not only cut costs, but also secure the home that’s best for you.

This important article discusses the 9 most common and costly of these homebuyer traps, how to identify them, and what you can do to avoid them.

 

The 9 Buyer Traps

Bidding Blind

What price should you offer when you bid on a home?  Is the seller’s asking price too high, or does it represent a great deal?  If you fail to research the market in order to understand what comparable homes are selling for, making your offer would be like bdding blind.  Without this knowledge of market value, you could easily bid too much, or fail to make a competitive offer at all on an excellent value.

 

Buying the Wrong Home.

 

What are you looking for in a home?  A simple enough question, but the answer can be quite complex.  More than one buyer has been swept up in the emotion and excitement of the buying process only to find themselves the owner of a home that is either too big or too small.  Maybe they’re stuck with a longer than desired commute to work, or a dozen more fix-ups than they really want to deal with now that the excitement has died down.  Take the time upfront to clearly define your wants and needs.  Put it in writing and then use it as a yard stick with which to measure every home you look at.

Unclear Title.

 

Make sure very early on in the negotiation that you will own your new home free and clear by having a title search completed.  The last thing you want to discover when you’re in the back stretch of a transaction is that there are encumbrances on the property such as tax liens, undisclosed owners, easements, leases or the like.

Inaccurate Survey.

As part of your offer to purchase, make sure you request an updated property survey which clearly marks your boundaries.  If the survey is not current, you may find that there are structural changes that are not shown (e.g. additions to the house, a new swimming pool, a neighbor’s new fence which is extending a boundary line, etc.).  Be very clear on these issues.

Undisclosed Fix-ups.

 

Don’t expect every seller to own up to every physical detail that will need to be attended to.  Both you and the seller are out to maximize your investment.  Ensure that you conduct a thorough inspection of the home early in the process.  Consider hiring an independent inspector to objectively view the home inside and out, and make the final contract contingent upon this inspector’s report.  This inspector should be able to give you a report of any item that needs to be fixed with associated, approximate cost.


Not Getting Mortgage Preapproval.

Preapproval is fast, easy and free.  When you have a preapproved mortgage, you can shop for your home with a greater sense of freedom and security, knowing that the money will be there when you find the home of your dreams.

 

Contract Misses.

If a seller fails to comply to the letter of the contract by neglecting to attend to some repair issues, or changing the spirit of the agreement in some way, this could delay the final closing and settlement.  Agree ahead of time on a dollar amount for an escrow fund to cover items that the seller fails to follow through on. Prepare a list of agreed issues, walk through them, and check them off one by one.

 Hidden Costs.

 

Make sure you identify and uncover all costs – large and small – far enough ahead of time.  When a transaction closes, you will sometimes find fees for this or that sneaking through after the “sub”-total – fees such as loan disbursement charges, underwriting fees etc.  Understand these in advance by having your lender project total charges for you in writing.

 

 

 

Rushing the Closing.

Take your time during this critical part of the process, and insist on seeing all paperwork the day before you sign.  Make sure this documentation perfectly reflects your understanding of the transaction, and that nothing has been added or subtracted.  Is the interest rate right?  Is everything covered?  If you rush this process on the day of closing, you may run into a last minute snag that you can’t fix without compromising the terms of the deal, the financing, or even the sale itself.

One More Tip…

Find out if your agent offers a Buyer Profile System or “House-hunting Service,” which takes the guesswork out of finding just the right home that matches your needs.  This type of program will crossmatch your criteria with ALL available homes on the market and supply you with printed information on an on-going basis. A program like this can help you to affordably move into
the home of your dreams.

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Residential For Sale

3040 Clementsvale Road, Bear River East, NS B0S 1B0

4Bedroom(s)
1Bathroom(s)
DetachedParking(s)
50Picture(s)
1,250Sqft
Royal LePage Atlantic (Greenwood)
C$202000

Residential For Sale

3040 Clementsvale Road, Bear River East, NS B0S 1B0
4Bedroom(s)
1Bathroom(s)
DetachedParking(s)
1,250Sqft
Royal LePage Atlantic (Greenwood)
3040 Clementsvale Road – Rural Charm, Endless Potential If you’ve been dreaming of quiet country living, this property is your blank canvas. Located just minutes from the charming village of Bear River, and a 20-minute drive to Digby or historic Annapolis Royal, this 5-acre(+/-) parcel offers the perfect balance of tranquillity and convenience.
C$202000

Residential For Sale

3040 Clementsvale Road, Bear River East, NS B0S 1B0
Royal LePage Atlantic (Greenwood)
4Bedroom(s)
1Bathroom(s)
C$202000

Residential For Sale

161 Annis Beach Road, Labelle, NS B0T 1E0

3Bedroom(s)
1Bathroom(s)
GravelParking(s)
23Picture(s)
744Sqft
Royal Lepage Atlantic (Mahone Bay)
C$284900

Residential For Sale

161 Annis Beach Road, Labelle, NS B0T 1E0
3Bedroom(s)
1Bathroom(s)
GravelParking(s)
744Sqft
Royal Lepage Atlantic (Mahone Bay)
Imagine a place where mornings begin with sunlight shimmering across the lake, where the stillness of the water feels like it belongs entirely to you. Just beyond your doorstep, the beauty of the lake stretches out, inviting endless moments of adventure and quiet retreat.
C$284900

Residential For Sale

161 Annis Beach Road, Labelle, NS B0T 1E0
Royal Lepage Atlantic (Mahone Bay)
3Bedroom(s)
1Bathroom(s)
C$284900

Residential For Sale

Birch Island, Wedgeport, NS B0W 2B0

1Bedroom(s)
1Bathroom(s)
47Picture(s)
700Sqft
Engel & Volkers (Yarmouth)
C$225000

Residential For Sale

Birch Island, Wedgeport, NS B0W 2B0
1Bedroom(s)
1Bathroom(s)
700Sqft
Engel & Volkers (Yarmouth)
Welcome to Birch Island, a secluded paradise just a stone’s throw from the mainland. Accessible by a quick ten-minute boat ride from the nearest launch, this serene retreat boasts half a mile of rugged coastline surrounded by ten acres of lush, densely wooded terrain, featuring a harmonious mix of soft and hardwoods.
C$225000

Residential For Sale

Birch Island, Wedgeport, NS B0W 2B0
Engel & Volkers (Yarmouth)
1Bedroom(s)
1Bathroom(s)
C$225000

Residential For Sale

5046-349 Bondi Drive, Middle Sackville, NS B4E 0W3

4Bedroom(s)
3Bathroom(s)
DoubleParking(s)
1Picture(s)
2,443Sqft
Sutton Group Professional Realty
C$829900

Residential For Sale

5046-349 Bondi Drive, Middle Sackville, NS B4E 0W3
4Bedroom(s)
3Bathroom(s)
DoubleParking(s)
2,443Sqft
Sutton Group Professional Realty
The Beckett by Marchand Homes! Welcome to the market, a facsimile listing by Marchand Homes. A stunning executive split-entry residence nestled in the sought-after community of Indigo Shores. This is a remarkable new construction, family-focused home that is absolutely packed with upgrades.
C$829900

Residential For Sale

5046-349 Bondi Drive, Middle Sackville, NS B4E 0W3
Sutton Group Professional Realty
4Bedroom(s)
3Bathroom(s)
C$829900

Residential For Sale

43 Cider Maple Drive, Timberlea, NS B3T 1K8

3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
49Picture(s)
1,426Sqft
Century 21 Trident Realty Ltd.
C$479900

Residential For Sale

43 Cider Maple Drive, Timberlea, NS B3T 1K8
3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,426Sqft
Century 21 Trident Realty Ltd.
An ideal home for families and first-time buyers, this 3 bedroom, 1.5 bathroom property in sought-after Greenwood Heights combines comfort, style, and modern efficiency. Inside, you’ll find updated luxury vinyl flooring and an open-concept kitchen with generous storage, creating a bright and functional living space.
C$479900

Residential For Sale

43 Cider Maple Drive, Timberlea, NS B3T 1K8
Century 21 Trident Realty Ltd.
3Bedroom(s)
2Bathroom(s)
C$479900

Residential For Sale

1002-5572 North Ridge Road, Halifax, NS B3K 5K2

1Bedroom(s)
1Bathroom(s)
UndergroundParking(s)
50Picture(s)
650Sqft
RE/MAX Nova (Halifax)
C$318900

Residential For Sale

1002-5572 North Ridge Road, Halifax, NS B3K 5K2
1Bedroom(s)
1Bathroom(s)
UndergroundParking(s)
650Sqft
RE/MAX Nova (Halifax)
Million Dollar View for an Incredible Price! Welcome to Unit 1002 — the top-floor corner unit at Convoy Towers, where breathtaking Bedford Basin views greet you every morning from your private balcony! Step inside this bright and freshly painted condo, flooded with natural light from wall-to-wall window.
C$318900

Residential For Sale

1002-5572 North Ridge Road, Halifax, NS B3K 5K2
RE/MAX Nova (Halifax)
1Bedroom(s)
1Bathroom(s)
C$318900

Residential For Sale

15776 Cabot Trail Road, Chéticamp, NS B0E 1H0

3Bedroom(s)
2Bathroom(s)
GravelParking(s)
20Picture(s)
1,716Sqft
Red Door Realty
C$325000

Residential For Sale

15776 Cabot Trail Road, Chéticamp, NS B0E 1H0
3Bedroom(s)
2Bathroom(s)
GravelParking(s)
1,716Sqft
Red Door Realty
This cozy two-unit home is a great find, whether you're looking for a place to live with some extra income or just a solid investment in a beautiful part of Cape Breton. The main level has a warm and welcoming feel, with two good-sized bedrooms, a full bath with laundry, a comfy eat-in kitchen, and a spacious living room with a wood-burning fireplace — perfect for relaxing on cool evenings.
C$325000

Residential For Sale

15776 Cabot Trail Road, Chéticamp, NS B0E 1H0
Red Door Realty
3Bedroom(s)
2Bathroom(s)
C$325000

Residential For Sale

264 Cape John Road, Cape John, NS B0K 1N0

3Bedroom(s)
2Bathroom(s)
GravelParking(s)
31Picture(s)
1,463Sqft
Sunrise Brokerage & Sales Ltd.
C$225000

Residential For Sale

264 Cape John Road, Cape John, NS B0K 1N0
3Bedroom(s)
2Bathroom(s)
GravelParking(s)
1,463Sqft
Sunrise Brokerage & Sales Ltd.
This cute three bedroom two bath farm house is waiting for new owners! Located just a few minutes from the Village of River John there's lots of amenities close by. Either Pictou or Tatamagouche are 20 minutes, beautiful sandy beaches are minutes away as are boat launches. The large country kitchen with heat pump and wood stove flows nicely into your living room hosting a second heat pump.
C$225000

Residential For Sale

264 Cape John Road, Cape John, NS B0K 1N0
Sunrise Brokerage & Sales Ltd.
3Bedroom(s)
2Bathroom(s)
C$225000

Residential For Sale

5 Kirtland Court, Dartmouth, NS B2W 4P6

3Bedroom(s)
2Bathroom(s)
No GarageParking(s)
30Picture(s)
1,840Sqft
Keller Williams Select Realty
C$475000

Residential For Sale

5 Kirtland Court, Dartmouth, NS B2W 4P6
3Bedroom(s)
2Bathroom(s)
No GarageParking(s)
1,840Sqft
Keller Williams Select Realty
Fantastic Location & Move-In Ready!Situated in a highly sought-after neighborhood, this home offers the perfect balance of comfort and convenience—just minutes from schools, shopping, and everyday amenities.Major upgrades completed in 2025 include a full electrical system upgrade with a hard-wired generator plug and aprofessionally renovated basement bathroom.
C$475000

Residential For Sale

5 Kirtland Court, Dartmouth, NS B2W 4P6
Keller Williams Select Realty
3Bedroom(s)
2Bathroom(s)
C$475000

Residential For Sale

2284 Highway 201, Tupperville, NS B0S 1C0

2Bedroom(s)
1Bathroom(s)
No GarageParking(s)
50Picture(s)
1,282Sqft
EXP Realty of Canada Inc.
C$350000

Residential For Sale

2284 Highway 201, Tupperville, NS B0S 1C0
2Bedroom(s)
1Bathroom(s)
No GarageParking(s)
1,282Sqft
EXP Realty of Canada Inc.
Welcome to your own private retreat overlooking the beautiful Annapolis River. This 12-acre property offers peace, space, and unbeatable views while still being practical for everyday living. The home is thoughtfully designed for one-level living with 2 comfortable bedrooms and a full bathroom, perfect for downsizing, a starter home, or a weekend escape.
C$350000

Residential For Sale

2284 Highway 201, Tupperville, NS B0S 1C0
EXP Realty of Canada Inc.
2Bedroom(s)
1Bathroom(s)
C$350000

Residential For Sale

5069 Highway 211, Port Bickerton, NS B0J 2C0

3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
44Picture(s)
1,296Sqft
Royal LePage Atlantic
C$299900

Residential For Sale

5069 Highway 211, Port Bickerton, NS B0J 2C0
3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,296Sqft
Royal LePage Atlantic
This 3 bedroom, 2 bathroom home in Port Bickerton combines modern updates with coastal charm. Set on a cleared 2-acre lot with partial harbour views, the property features a wrap-around gravel driveway, two outbuildings (storage shed and wood shed/chicken coop), and front and back decks for outdoor living.
C$299900

Residential For Sale

5069 Highway 211, Port Bickerton, NS B0J 2C0
Royal LePage Atlantic
3Bedroom(s)
2Bathroom(s)
C$299900

Residential For Sale

202-5689 Cunard Street, Halifax, NS B3K 1C7

1Bedroom(s)
1Bathroom(s)
UndergroundParking(s)
16Picture(s)
795Sqft
The Agency Real Estate Brokerage
C$399900

Residential For Sale

202-5689 Cunard Street, Halifax, NS B3K 1C7
1Bedroom(s)
1Bathroom(s)
UndergroundParking(s)
795Sqft
The Agency Real Estate Brokerage
Discover urban living at its finest in this 1-bedroom plus den condo located right on the Halifax Commons in Downtown Halifax. Situated on the second floor, this unit offers a perfect blend of convenience and comfort. Enjoy the luxury of underground parking and in-suite laundry facilities, making daily life a breeze.
C$399900

Residential For Sale

202-5689 Cunard Street, Halifax, NS B3K 1C7
The Agency Real Estate Brokerage
1Bedroom(s)
1Bathroom(s)
C$399900
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