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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

117 John Stewart Drive, Cole Harbour, NS B2W 5W8

3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
50Picture(s)
1,880Sqft
Exit Realty Metro
C$399900

Residential For Sale

117 John Stewart Drive, Cole Harbour, NS B2W 5W8
3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,880Sqft
Exit Realty Metro
Welcome to 117 John Stewart Drive, Cole Harbour! This 3 bedroom 2 bath split entry has so much to offer! Upper level has the well appointed kitchen, dining room with patio door leading to your private back deck, living room with bamboo floors and a newer heat pump for both heating and cooling. Two bedrooms and a full bathroom completes this level.
C$399900

Residential For Sale

117 John Stewart Drive, Cole Harbour, NS B2W 5W8
Exit Realty Metro
3Bedroom(s)
2Bathroom(s)
C$399900

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11391 Highway 2, Masstown, NS B0M 1G0

3Bedroom(s)
2Bathroom(s)
AttachedParking(s)
46Picture(s)
1,922Sqft
Royal LePage Atlantic (Enfield)
C$399900

Residential For Sale

11391 Highway 2, Masstown, NS B0M 1G0
3Bedroom(s)
2Bathroom(s)
AttachedParking(s)
1,922Sqft
Royal LePage Atlantic (Enfield)
Welcome to the Eagle’s Nest—an architecturally unique and beautifully maintained home nestled on a spacious 1.2-acre lot in the desirable community of Masstown, Nova Scotia. This thoughtfully designed 3-bedroom, 2-bathroom home offers a perfect blend of comfort, style, and functionality.
C$399900

Residential For Sale

11391 Highway 2, Masstown, NS B0M 1G0
Royal LePage Atlantic (Enfield)
3Bedroom(s)
2Bathroom(s)
C$399900

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18a-13 Trout Run Run, Halifax, NS B3R 0C4

3Bedroom(s)
4Bathroom(s)
AttachedParking(s)
38Picture(s)
2,634Sqft
RE/MAX Nova (Halifax)
C$649900

Residential For Sale

18a-13 Trout Run Run, Halifax, NS B3R 0C4
3Bedroom(s)
4Bathroom(s)
AttachedParking(s)
2,634Sqft
RE/MAX Nova (Halifax)
Welcome to 13 Trout Run — A Thoughtfully Designed 3-Bedroom, 4-Bath Semi-Detached Home in Spryfield! Spread across three fully finished levels, this home offers a smart and functional layout with standout features.
C$649900

Residential For Sale

18a-13 Trout Run Run, Halifax, NS B3R 0C4
RE/MAX Nova (Halifax)
3Bedroom(s)
4Bathroom(s)
C$649900

Residential For Sale

4 Marcs Way, Dartmouth, NS B2Y 4G1

4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
50Picture(s)
2,803Sqft
RE/MAX Nova (Halifax)
C$724800

Residential For Sale

4 Marcs Way, Dartmouth, NS B2Y 4G1
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
2,803Sqft
RE/MAX Nova (Halifax)
OPEN HOUSE Sunday, July 6 (2-4PM)! Welcome to 4 Marcs Way - a hidden gem in the heart of Dartmouth! This beauty is clean, bright and move-in ready! Nestled on a quiet cul-de-sac in a sought after family neighbourhood, this well-maintained, gently lived-in home offers the best of both worlds: city convenience with the peaceful feel of nature.
C$724800

Residential For Sale

4 Marcs Way, Dartmouth, NS B2Y 4G1
RE/MAX Nova (Halifax)
4Bedroom(s)
4Bathroom(s)
C$724800

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21 College Court, Bible Hill, NS B2N 6P3

3Bedroom(s)
1Bathroom(s)
GravelParking(s)
26Picture(s)
896Sqft
Royal LePage Atlantic (Enfield)
C$209900

Residential For Sale

21 College Court, Bible Hill, NS B2N 6P3
3Bedroom(s)
1Bathroom(s)
GravelParking(s)
896Sqft
Royal LePage Atlantic (Enfield)
Nestled in a peaceful leased-land community near the Bible Hill Recreation Park, this charming 3-bedroom, 1-bathroom mini home is move-in ready and perfect for those seeking comfort and convenience. Recently renovated with updates including a modernized kitchen, refreshed bathroom, and new flooring, this home offers a contemporary yet cozy feel.
C$209900

Residential For Sale

21 College Court, Bible Hill, NS B2N 6P3
Royal LePage Atlantic (Enfield)
3Bedroom(s)
1Bathroom(s)
C$209900

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746 Intervale Road, Rock Elm, NS B1K 1S9

4Bedroom(s)
1Bathroom(s)
OtherParking(s)
42Picture(s)
1,610Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
C$459000

Residential For Sale

746 Intervale Road, Rock Elm, NS B1K 1S9
4Bedroom(s)
1Bathroom(s)
OtherParking(s)
1,610Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
Welcome to your charming rural retreat — a beautifully remodeled 1 3/4-storey home nestled on 60 acres of pristine countryside. Whether you're seeking the perfect hobby farm, an equestrian property, or simply a peaceful escape with income potential, this property checks all the boxes.
C$459000

Residential For Sale

746 Intervale Road, Rock Elm, NS B1K 1S9
Keller Williams Select Realty(Sydney,Townsend St.)
4Bedroom(s)
1Bathroom(s)
C$459000

Residential For Sale

150 Macbelger Crescent, Hillside Boularderie, NS B1X 1J2

4Bedroom(s)
3Bathroom(s)
No GarageParking(s)
26Picture(s)
2,407Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
C$299900

Residential For Sale

150 Macbelger Crescent, Hillside Boularderie, NS B1X 1J2
4Bedroom(s)
3Bathroom(s)
No GarageParking(s)
2,407Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
Welcome to your dream country retreat! Nestled on a spacious 2.05-acre lot just minutes from the iconic Seal Island Bridge, this classic Cape Cod-style home blends timeless charm with modern comfort. Step inside to find 3 spacious bedrooms and 2.5 bathrooms, including a primary bedroom with 3 piece ensuite bath.
C$299900

Residential For Sale

150 Macbelger Crescent, Hillside Boularderie, NS B1X 1J2
Keller Williams Select Realty(Sydney,Townsend St.)
4Bedroom(s)
3Bathroom(s)
C$299900

Residential For Sale

835 Highway 203, Kemptville, NS B5A 5R3

2Bedroom(s)
2Bathroom(s)
DoubleParking(s)
30Picture(s)
1,142Sqft
Modern Realty
C$469000

Residential For Sale

835 Highway 203, Kemptville, NS B5A 5R3
2Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,142Sqft
Modern Realty
Discover lakeside living at its finest with this beautiful property, located less than 30 km from Yarmouth in the welcoming community of Kemptville. Built in 2005, this home has been well maintained and features a brand-new roof (2024) for peace of mind.
C$469000

Residential For Sale

835 Highway 203, Kemptville, NS B5A 5R3
Modern Realty
2Bedroom(s)
2Bathroom(s)
C$469000

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359 Heelan St., New Waterford, NS B1H 3C6

3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
18Picture(s)
1,580Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
C$229000

Residential For Sale

359 Heelan St., New Waterford, NS B1H 3C6
3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,580Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
Welcome to this inviting 3-bedroom, 2-bath home ideally located on a desirable corner lot—right next to a local bakery, where the scent of pizza and pastries fills the air daily. With thoughtful updates and flexible living spaces, this home is perfect for growing families, remote workers, or anyone seeking comfort and convenience.
C$229000

Residential For Sale

359 Heelan St., New Waterford, NS B1H 3C6
Keller Williams Select Realty(Sydney,Townsend St.)
3Bedroom(s)
2Bathroom(s)
C$229000

Residential For Sale

49 Rogers Drive, Lower Sackville, NS B4C 3G3

4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
41Picture(s)
1,728Sqft
Royal LePage Atlantic (Dartmouth)
C$464900

Residential For Sale

49 Rogers Drive, Lower Sackville, NS B4C 3G3
4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,728Sqft
Royal LePage Atlantic (Dartmouth)
Welcome to 49 Rogers Drive. Conveniently situated close to all the amenities of Lower Sackville, this charming bungalow has so much to offer. On the main level, you will find a large spacious kitchen leading to a bright and airy open living room and dining area. Two bedrooms and a modern 4 piece bathroom complete this level.
C$464900

Residential For Sale

49 Rogers Drive, Lower Sackville, NS B4C 3G3
Royal LePage Atlantic (Dartmouth)
4Bedroom(s)
2Bathroom(s)
C$464900

Residential For Sale

59 Sunset Avenue, Phinneys Cove, NS B0S 1P0

3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
50Picture(s)
1,587Sqft
ViewPoint Realty Services Inc.(Greenwood)
C$669500

Residential For Sale

59 Sunset Avenue, Phinneys Cove, NS B0S 1P0
3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,587Sqft
ViewPoint Realty Services Inc.(Greenwood)
NEW SURVEY COMPLETED 2025 -This exceptional home enjoys an unobstructed ocean view. Custom built-in 2003, elevated over the shoreline, and coastal rocks of The Bay of Fundy, the home is positioned to take all the views in on this 18,600 sq. ft. lot. The spacious great room features vaulted ceilings, and a propane fireplace for cozy winter evenings.
C$669500

Residential For Sale

59 Sunset Avenue, Phinneys Cove, NS B0S 1P0
ViewPoint Realty Services Inc.(Greenwood)
3Bedroom(s)
2Bathroom(s)
C$669500

Residential For Sale

818 Donkin Highway, Donkin, NS B1A 6P2

4Bedroom(s)
1Bathroom(s)
GravelParking(s)
20Picture(s)
1,166Sqft
Viewpoint Realty Services Inc. (Sydney)
C$179000

Residential For Sale

818 Donkin Highway, Donkin, NS B1A 6P2
4Bedroom(s)
1Bathroom(s)
GravelParking(s)
1,166Sqft
Viewpoint Realty Services Inc. (Sydney)
Nestled in the charming seaside community of Donkin, this inviting home offers the perfect blend of comfort and convenience. The main level features a bright and functional kitchen equipped with laundry, a cozy living room, and a spacious primary bedroom.
C$179000

Residential For Sale

818 Donkin Highway, Donkin, NS B1A 6P2
Viewpoint Realty Services Inc. (Sydney)
4Bedroom(s)
1Bathroom(s)
C$179000
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