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

221 Hillside Drive, Boutiliers Point, NS B3Z 1W9

More Details

4Bedroom(s)

4Bathroom(s)

GravelParking(s)

50Picture(s)

3,426Sqft

Listing courtesy of Sutton Group Professional Realty

C$749000

Residential For Sale

221 Hillside Drive, Boutiliers Point, NS B3Z 1W9

4Bedroom(s)

4Bathroom(s)

GravelParking(s)

3,426Sqft

Listing courtesy of Sutton Group Professional Realty

Welcome to your dream coastal home perched above beautiful St. Margaret’s Bay! This spacious and character-filled two-story tongue-and-groove home offers panoramic ocean views, exceptional privacy, and flexible living on a 1+ acre lot. With 4 bedrooms and 3.5 bathrooms, this property is perfect for families, multi-generational living, or those who love to entertain.

C$749000

Residential For Sale

221 Hillside Drive, Boutiliers Point, NS B3Z 1W9

Listing courtesy of Sutton Group Professional Realty

4Bedroom(s)

4Bathroom(s)

C$749000

Residential For Sale

15 Kilgar Road, Eastern Passage, NS B0J 3A0

More Details

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

50Picture(s)

1,370Sqft

Listing courtesy of Royal LePage Atlantic (Dartmouth)

C$485000

Residential For Sale

15 Kilgar Road, Eastern Passage, NS B0J 3A0

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

1,370Sqft

Listing courtesy of Royal LePage Atlantic (Dartmouth)

Welcome to 15 Kilgar Road—a bright and beautifully maintained home that’s full of charm and comfort. This 3-bedroom, 1-bath house sits on a quiet, ocean-view street in Eastern Passage and features a detached 2-car garage, a large lot (subdividable & city-confirmed), and more than 1,800 sq. ft. of total living space (finished and unfinished).

C$485000

Residential For Sale

15 Kilgar Road, Eastern Passage, NS B0J 3A0

Listing courtesy of Royal LePage Atlantic (Dartmouth)

3Bedroom(s)

1Bathroom(s)

C$485000

Residential For Sale

49 Fairway Grove, Lake Loon, NS B2W 6M5

More Details

2Bedroom(s)

3Bathroom(s)

DoubleParking(s)

50Picture(s)

3,206Sqft

Listing courtesy of Royal LePage Atlantic

C$1295900

Residential For Sale

49 Fairway Grove, Lake Loon, NS B2W 6M5

2Bedroom(s)

3Bathroom(s)

DoubleParking(s)

3,206Sqft

Listing courtesy of Royal LePage Atlantic

Beautifully Designed Lakefront home just 10 minutes Halifax and 15 minutes to the airport. This fabulous property boasts 65 feet of pristine water frontage with water views from each level, an in-ground pool, flagstone patio, ICF construction, built in garage with nearby golf community just to name a few.

C$1295900

Residential For Sale

49 Fairway Grove, Lake Loon, NS B2W 6M5

Listing courtesy of Royal LePage Atlantic

2Bedroom(s)

3Bathroom(s)

C$1295900

Residential For Sale

18 Woodlot Lane, Kingsburg, NS B0J 2X0

More Details

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

43Picture(s)

1,894Sqft

Listing courtesy of ViewPoint Realty Services Inc.(Lunenburg)

C$1295000

Residential For Sale

18 Woodlot Lane, Kingsburg, NS B0J 2X0

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

1,894Sqft

Listing courtesy of ViewPoint Realty Services Inc.(Lunenburg)

This impressive home is situated in the heart of Kingsburg and enjoys fantastic views of the Atlantic Ocean which can be seen from all principal rooms. Designed for those that enjoy open concept living, spacious and bright rooms all of which makes it ideal space for those that enjoy entertaining.This home was built with the highest quality of natural materials and unsurpassed attention to detail.

C$1295000

Residential For Sale

18 Woodlot Lane, Kingsburg, NS B0J 2X0

Listing courtesy of ViewPoint Realty Services Inc.(Lunenburg)

3Bedroom(s)

2Bathroom(s)

C$1295000

Residential For Sale

40 Big Rock Lane, East Chester, NS B0J 1J0

More Details

2Bedroom(s)

3Bathroom(s)

DetachedParking(s)

50Picture(s)

2,790Sqft

Listing courtesy of Century 21 Optimum Realty

C$749900

Residential For Sale

40 Big Rock Lane, East Chester, NS B0J 1J0

2Bedroom(s)

3Bathroom(s)

DetachedParking(s)

2,790Sqft

Listing courtesy of Century 21 Optimum Realty

Welcome to 40 Big Rock Lane, a truly unique and beautifully crafted 3-storey home nestled in the desirable Otter Point community. Offering deeded oceanfront beach access, this property combines quality construction, flexible living space, and coastal charm you've always wanted.

C$749900

Residential For Sale

40 Big Rock Lane, East Chester, NS B0J 1J0

Listing courtesy of Century 21 Optimum Realty

2Bedroom(s)

3Bathroom(s)

C$749900

Residential For Sale

32 Baker Drive, Middle Sackville, NS B4E 1V1

More Details

3Bedroom(s)

4Bathroom(s)

AttachedParking(s)

35Picture(s)

2,674Sqft

Listing courtesy of Viewpoint Realty Services Inc.

C$675000

Residential For Sale

32 Baker Drive, Middle Sackville, NS B4E 1V1

3Bedroom(s)

4Bathroom(s)

AttachedParking(s)

2,674Sqft

Listing courtesy of Viewpoint Realty Services Inc.

Welcome to 32 Baker Drive! This 3 bed, 2 bath + 2 half bath home is located in convenient & family friendly Middle Sackville. Spacious three level home offers a large open concept living space on the main level, open and airy living room with cozy fire place and large windows. The Kitchen offers prep space, lots of storage and a large beautiful island.

C$675000

Residential For Sale

32 Baker Drive, Middle Sackville, NS B4E 1V1

Listing courtesy of Viewpoint Realty Services Inc.

3Bedroom(s)

4Bathroom(s)

C$675000

Residential For Sale

48 Adelaide Avenue, Fairview, NS B3N 2N6

More Details

4Bedroom(s)

2Bathroom(s)

DoubleParking(s)

30Picture(s)

1,200Sqft

Listing courtesy of Sotheby's International Realty Canada

C$675000

Residential For Sale

48 Adelaide Avenue, Fairview, NS B3N 2N6

4Bedroom(s)

2Bathroom(s)

DoubleParking(s)

1,200Sqft

Listing courtesy of Sotheby's International Realty Canada

Excellent Investment Opportunity in Fairview! This over-under duplex is now on the market, offering great potential for savvy investors or homeowners looking to supplement their mortgage. Both 2 bedroom units are currently vacant, making it easy to rent out the basement and upper unit separately. Each unit features its own laundry facilities and separate driveways for added convenience.

C$675000

Residential For Sale

48 Adelaide Avenue, Fairview, NS B3N 2N6

Listing courtesy of Sotheby's International Realty Canada

4Bedroom(s)

2Bathroom(s)

C$675000

Residential For Sale

56 Johnny Ben's Lane, Red Point, NS B2C 1G8

More Details

2Bedroom(s)

1Bathroom(s)

DetachedParking(s)

45Picture(s)

1,100Sqft

Listing courtesy of Easy List Realty Ltd.

C$649000

Residential For Sale

56 Johnny Ben's Lane, Red Point, NS B2C 1G8

2Bedroom(s)

1Bathroom(s)

DetachedParking(s)

1,100Sqft

Listing courtesy of Easy List Realty Ltd.

For more information, please click the "More Information" button. This property is magical! Located in Red Point, minutes from the lovely town of Iona, in the heart of Cape Breton Island. This 13-acre peninsula is surrounded by 2750 ft of coastline, with deeded access to a Private Beach located just off the gated driveway.

C$649000

Residential For Sale

56 Johnny Ben's Lane, Red Point, NS B2C 1G8

Listing courtesy of Easy List Realty Ltd.

2Bedroom(s)

1Bathroom(s)

C$649000

Residential For Sale

103 School Street, Liverpool, NS B0T 1K0

More Details

5Bedroom(s)

2Bathroom(s)

CarportParking(s)

26Picture(s)

1,706Sqft

Listing courtesy of HonestDoor Inc

C$310000

Residential For Sale

103 School Street, Liverpool, NS B0T 1K0

5Bedroom(s)

2Bathroom(s)

CarportParking(s)

1,706Sqft

Listing courtesy of HonestDoor Inc

House has been extensively renovated, with most walls having been stripped and reinsulated, replaced vinyl windows and shingles, 100amp electrical service, 3 heat pumps (2 almost new) upgraded plumbing and foundation work. The overall layout is bright and functional . Kitchen has space for island and granite countertop with ceramic flooring extending to the dining area. .

C$310000

Residential For Sale

103 School Street, Liverpool, NS B0T 1K0

Listing courtesy of HonestDoor Inc

5Bedroom(s)

2Bathroom(s)

C$310000

Residential For Sale

95 Lakeshore Drive W, Irish Cove, NS B0E 3B0

More Details

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

34Picture(s)

1,800Sqft

Listing courtesy of Cape Breton Realty

C$524900

Residential For Sale

95 Lakeshore Drive W, Irish Cove, NS B0E 3B0

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

1,800Sqft

Listing courtesy of Cape Breton Realty

Feast your eyes on 95 LAKESHORE DRIVE, an attractive property in Irish Cove, just waiting to be the backdrop for your most fabulous life! Prepare to be impressed. The primary bedroom boasts an ensuite bathroom for your convenience and has patio doors that open onto the deck, perfect for morning coffees or evening sunsets.

C$524900

Residential For Sale

95 Lakeshore Drive W, Irish Cove, NS B0E 3B0

Listing courtesy of Cape Breton Realty

3Bedroom(s)

2Bathroom(s)

C$524900

Residential For Sale

120 Base Line East Road, Harbourville, NS B0P 1M0

More Details

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

5Picture(s)

2,282Sqft

Listing courtesy of PG Direct Realty Ltd.

C$399999

Residential For Sale

120 Base Line East Road, Harbourville, NS B0P 1M0

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

2,282Sqft

Listing courtesy of PG Direct Realty Ltd.

Visit REALTOR® website for additional information. Welcome to this Charming Property at 120 Base Line East Rd, Harbourville. This beautiful house for sale located less than 10 minutes from Berwick. This house is on a quiet street in a peaceful setting where you are able to absorb ocean views from the large front porch.

C$399999

Residential For Sale

120 Base Line East Road, Harbourville, NS B0P 1M0

Listing courtesy of PG Direct Realty Ltd.

3Bedroom(s)

2Bathroom(s)

C$399999

Residential For Sale

439 Park Street, Kentville, NS B4N 1M9

More Details

3Bedroom(s)

3Bathroom(s)

DoubleParking(s)

20Picture(s)

1,885Sqft

Listing courtesy of PG Direct Realty Ltd.

C$388900

Residential For Sale

439 Park Street, Kentville, NS B4N 1M9

3Bedroom(s)

3Bathroom(s)

DoubleParking(s)

1,885Sqft

Listing courtesy of PG Direct Realty Ltd.

Visit REALTOR® website for additional information. Welcome to this charming duplex/income property located at 439 Park St, Kentville. This well-maintained property offers spacious living with a main unit and an income-generating basement apartment. The main floor boasts a bright and open living area, a modern kitchen, comfortable bedrooms, and updated bathrooms.

C$388900

Residential For Sale

439 Park Street, Kentville, NS B4N 1M9

Listing courtesy of PG Direct Realty Ltd.

3Bedroom(s)

3Bathroom(s)

C$388900

4896 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

221 Hillside Drive, Boutiliers Point, NS B3Z 1W9

Residential For Sale

Residential For Sale

Residential For Sale

15 Kilgar Road, Eastern Passage, NS B0J 3A0

Residential For Sale

Residential For Sale

Residential For Sale

49 Fairway Grove, Lake Loon, NS B2W 6M5

Residential For Sale

Residential For Sale

Residential For Sale

18 Woodlot Lane, Kingsburg, NS B0J 2X0

Residential For Sale

Residential For Sale

Residential For Sale

40 Big Rock Lane, East Chester, NS B0J 1J0

Residential For Sale

Residential For Sale

Residential For Sale

32 Baker Drive, Middle Sackville, NS B4E 1V1

Residential For Sale

Residential For Sale

Residential For Sale

48 Adelaide Avenue, Fairview, NS B3N 2N6

Residential For Sale

Residential For Sale

Residential For Sale

56 Johnny Ben's Lane, Red Point, NS B2C 1G8

Residential For Sale

Residential For Sale

Residential For Sale

103 School Street, Liverpool, NS B0T 1K0

Residential For Sale

Residential For Sale

Residential For Sale

95 Lakeshore Drive W, Irish Cove, NS B0E 3B0

Residential For Sale

Residential For Sale

Residential For Sale

120 Base Line East Road, Harbourville, NS B0P 1M0

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.