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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.

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9 Buyer Traps & How to Avoid Them

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 Properties

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Residential For Sale

612-45 Vimy Avenue, Halifax, NS B3M 4C5

1Bedroom(s)
1Bathroom(s)
UndergroundParking(s)
35Picture(s)
625Sqft
Domus Realty Limited
C$289900

Residential For Sale

612-45 Vimy Avenue, Halifax, NS B3M 4C5
1Bedroom(s)
1Bathroom(s)
UndergroundParking(s)
625Sqft
Domus Realty Limited
Welcome to Granbury Place, a bright and well-maintained 1-bedroom condo offering comfortable one-level living. Ideal for first-time buyers, downsizers, or those seeking a turnkey condo rental opportunity. The unit features a walk-in shower, newer windows (approx. 2 years old), and an updated kitchen with refreshed cabinetry and countertops.
C$289900

Residential For Sale

612-45 Vimy Avenue, Halifax, NS B3M 4C5
Domus Realty Limited
1Bedroom(s)
1Bathroom(s)
C$289900

Residential For Sale

595 Main Street, Sydney Mines, NS B1V 2K9

2Bedroom(s)
1Bathroom(s)
GravelParking(s)
1Picture(s)
655Sqft
RE/MAX Park Place Inc.
C$35000

Residential For Sale

595 Main Street, Sydney Mines, NS B1V 2K9
2Bedroom(s)
1Bathroom(s)
GravelParking(s)
655Sqft
RE/MAX Park Place Inc.
Located in Sydney Mines, this two-bedroom, one-bathroom home presents a great opportunity for renovators or handy buyers looking for their next project. The property requires significant repairs and updating, but offers plenty of potential for those willing to put in the work. With the right vision, this home could be transformed into a cozy residence or an affordable rental.
C$35000

Residential For Sale

595 Main Street, Sydney Mines, NS B1V 2K9
RE/MAX Park Place Inc.
2Bedroom(s)
1Bathroom(s)
C$35000

Residential For Sale

2361 North Wallace Road, North Wallace, NS B0K 1Y0

4Bedroom(s)
3Bathroom(s)
GravelParking(s)
50Picture(s)
1,305Sqft
Royal LePage Atlantic(Stellarton)
C$949000

Residential For Sale

2361 North Wallace Road, North Wallace, NS B0K 1Y0
4Bedroom(s)
3Bathroom(s)
GravelParking(s)
1,305Sqft
Royal LePage Atlantic(Stellarton)
Income Potential! The opportunities are endless with this property, AirBnB, Family getaway home, Family home or much more! Located in the beautiful community of North Wallace Nova Scotia.
C$949000

Residential For Sale

2361 North Wallace Road, North Wallace, NS B0K 1Y0
Royal LePage Atlantic(Stellarton)
4Bedroom(s)
3Bathroom(s)
C$949000

Residential For Sale

3156 Aikens Avenue, Halifax, NS B3L 3Y4

5Bedroom(s)
1Bathroom(s)
SingleParking(s)
45Picture(s)
1,463Sqft
Sutton Group Professional Realty
C$499900

Residential For Sale

3156 Aikens Avenue, Halifax, NS B3L 3Y4
5Bedroom(s)
1Bathroom(s)
SingleParking(s)
1,463Sqft
Sutton Group Professional Realty
Welcome to 3156 Aikens Avenue, a well-priced investment opportunity in the heart of the West End of Halifax. Ideally located close to the Halifax Shopping Centre, transit routes, schools, and just minutes to downtown, this property offers outstanding potential for both homeowners and investors.
C$499900

Residential For Sale

3156 Aikens Avenue, Halifax, NS B3L 3Y4
Sutton Group Professional Realty
5Bedroom(s)
1Bathroom(s)
C$499900

Residential For Sale

2773 Highway 325, Wileville, NS B4V 5G9

2Bedroom(s)
1Bathroom(s)
GravelParking(s)
33Picture(s)
940Sqft
EXIT Realty Inter Lake
C$219900

Residential For Sale

2773 Highway 325, Wileville, NS B4V 5G9
2Bedroom(s)
1Bathroom(s)
GravelParking(s)
940Sqft
EXIT Realty Inter Lake
Amazing Location & Incredible Price!! Affordable housing still exists and this sweet 2 bedroom bungalow just on the outskirts of Bridgewater is proof! Located in the highly sought after community of Wileville and just seconds from Hwy 103, this property is within walking distance to Michelin, NSCC, Downtown Bridgewater, and the beautiful Centennial and Bull Run Trails for walking and biking.
C$219900

Residential For Sale

2773 Highway 325, Wileville, NS B4V 5G9
EXIT Realty Inter Lake
2Bedroom(s)
1Bathroom(s)
C$219900

Residential For Sale

2053 Eastern Shore Road, West Berlin, NS B0J 1H0

2Bedroom(s)
1Bathroom(s)
DetachedParking(s)
30Picture(s)
910Sqft
EXIT Realty Inter Lake (Liverpool)
C$315000

Residential For Sale

2053 Eastern Shore Road, West Berlin, NS B0J 1H0
2Bedroom(s)
1Bathroom(s)
DetachedParking(s)
910Sqft
EXIT Realty Inter Lake (Liverpool)
Enjoy 282 feet of lake frontage on Wagner's Lake with this cozy 2 bedroom, 1 bathroom home. The main level features a spacious kitchen that opens into a cozy living/dining area that comes complete with a brand new wood stove to keep the space nice and toasty on these winter days.
C$315000

Residential For Sale

2053 Eastern Shore Road, West Berlin, NS B0J 1H0
EXIT Realty Inter Lake (Liverpool)
2Bedroom(s)
1Bathroom(s)
C$315000

Residential For Sale

14 Lemarquis Drive, North Grant, NS B2G 2L1

2Bedroom(s)
1Bathroom(s)
SingleParking(s)
18Picture(s)
721Sqft
Re/Max Park Place Inc. (Antigonish)
C$139900

Residential For Sale

14 Lemarquis Drive, North Grant, NS B2G 2L1
2Bedroom(s)
1Bathroom(s)
SingleParking(s)
721Sqft
Re/Max Park Place Inc. (Antigonish)
14 Lamarquis Drive offers an affordable, updated mini home just minutes from downtown. This 16 x 44 Mapleleaf home, built in 2012, features two bedrooms and one full bath. The home includes a newly installed front deck, energy-efficient heat pump, and stackable washer and dryer less than three months old. Freshly and neutrally painted throughout, the space is bright and welcoming.
C$139900

Residential For Sale

14 Lemarquis Drive, North Grant, NS B2G 2L1
Re/Max Park Place Inc. (Antigonish)
2Bedroom(s)
1Bathroom(s)
C$139900

Residential For Sale

21 Dougies Lane, Troy, NS B9A 0A8

3Bedroom(s)
1Bathroom(s)
DoubleParking(s)
26Picture(s)
910Sqft
RE/MAX Park Place Inc. (Port Hawkesbury)
C$194500

Residential For Sale

21 Dougies Lane, Troy, NS B9A 0A8
3Bedroom(s)
1Bathroom(s)
DoubleParking(s)
910Sqft
RE/MAX Park Place Inc. (Port Hawkesbury)
Well maintained 2 Bedroom, 1 Bath mini home located on 21 Dougies lane off Route 19 in Troy NS. Nicely landscaped property consisting of 3 PID's for a total of 40,150 sq ft. Detached 30x24 garage equipped with a new garage door, updated siding, generator plug, and 220 volt outlet--ideal for a workshop or hobbyist. Additional storage is provided by a 12x12 shed.
C$194500

Residential For Sale

21 Dougies Lane, Troy, NS B9A 0A8
RE/MAX Park Place Inc. (Port Hawkesbury)
3Bedroom(s)
1Bathroom(s)
C$194500

Residential For Sale

22 Baker Street, Yarmouth, NS B5A 2W9

3Bedroom(s)
3Bathroom(s)
DetachedParking(s)
46Picture(s)
2,650Sqft
The Real Estate Store
C$350000

Residential For Sale

22 Baker Street, Yarmouth, NS B5A 2W9
3Bedroom(s)
3Bathroom(s)
DetachedParking(s)
2,650Sqft
The Real Estate Store
Welcome to 22 Baker Street, this 2,650 sq. ft. home sits on a private lot and features a classic widow’s walk overlooking Yarmouth Harbor. The layout offers flexibility, functioning as either a 3-4 bedroom, 3-bathroom home or a 2-bedroom main residence with a separate 1-bedroom apartment on the second floor.
C$350000

Residential For Sale

22 Baker Street, Yarmouth, NS B5A 2W9
The Real Estate Store
3Bedroom(s)
3Bathroom(s)
C$350000

Residential For Sale

1492 Cove Road, Mount Thom, NS B0K 1P0

2Bedroom(s)
1Bathroom(s)
GravelParking(s)
26Picture(s)
861Sqft
Blinkhorn Real Estate Ltd.
C$69900

Residential For Sale

1492 Cove Road, Mount Thom, NS B0K 1P0
2Bedroom(s)
1Bathroom(s)
GravelParking(s)
861Sqft
Blinkhorn Real Estate Ltd.
Set on approximately 1.4 acres of owned land, this 2004 Maple Leaf 16' × 54' mini home (approx. 864 sq ft) is located along Cove Road in Mount Thom, bordering a large blueberry field. The property is being sold as is, where is, with no appliances, and water and septic are believed to be on site but could not be verified.
C$69900

Residential For Sale

1492 Cove Road, Mount Thom, NS B0K 1P0
Blinkhorn Real Estate Ltd.
2Bedroom(s)
1Bathroom(s)
C$69900

Residential For Sale

2301-1650 Granville Street, Halifax, NS B3J 0E1

2Bedroom(s)
3Bathroom(s)
AttachedParking(s)
50Picture(s)
2,335Sqft
The Agency Real Estate Brokerage
C$2560000

Residential For Sale

2301-1650 Granville Street, Halifax, NS B3J 0E1
2Bedroom(s)
3Bathroom(s)
AttachedParking(s)
2,335Sqft
The Agency Real Estate Brokerage
Discover The Summit — a refined penthouse residence that redefines timeless living at The Roy, Halifax’s foremost luxury address. Designed with a classic layout and generous wall space for art collectors, The Summit seamlessly balances elegance with comfort.
C$2560000

Residential For Sale

2301-1650 Granville Street, Halifax, NS B3J 0E1
The Agency Real Estate Brokerage
2Bedroom(s)
3Bathroom(s)
C$2560000

Residential For Sale

48 Southgate Drive, Halifax Regional Municipality, NS B4A 0B1

3Bedroom(s)
4Bathroom(s)
AttachedParking(s)
38Picture(s)
2,350Sqft
RE/MAX Nova (Halifax)
C$669000

Residential For Sale

48 Southgate Drive, Halifax Regional Municipality, NS B4A 0B1
3Bedroom(s)
4Bathroom(s)
AttachedParking(s)
2,350Sqft
RE/MAX Nova (Halifax)
Welcome to 48 Southgate, a well-appointed 3-bedroom townhouse located in one of Bedford’s most sought-after, family-friendly neighborhoods. The home features a bright open-concept main floor, a walkout basement offering flexible living space, and brand-new appliances for a move-in-ready experience.
C$669000

Residential For Sale

48 Southgate Drive, Halifax Regional Municipality, NS B4A 0B1
RE/MAX Nova (Halifax)
3Bedroom(s)
4Bathroom(s)
C$669000
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Tatamagouche

TATAMAGOUCHE, NOVA SCOTIA

Full of character, Tatamagouche is a thriving seaside village that embraces quality of life along Nova Scotia’s Northumberland Shore. In addition to its proximity to several warm water beaches, Tatamagouche is a destination for those with great taste!

Why Tatamagouche?

Since last year, 10 new businesses have launched in Tatamagouche.

The village’s charm, friendly people, affordability, and the desire for change are all converging to contribute to its mini boom. Since last year, 10 new businesses have launched in Tatamagouche.

Read CBC News Story, July 13, 2017:  Mini boom in Nova Scotia village attracts young entrepreneurs.

Culinary Experiences 

Tatamagouche Museums 

  • The Creamery Square is a waterside attraction in the heart of the village that also features a performing arts centre and an award-winning heritage centre. The heritage centre is a particularly fascinating way to get to get to know this quirky little community with stories of two-headed calves, Giantess Anna Swan, and incredible fossil discoveries.
  • Balmoral Grist Mill: During demonstrations, see the mill in action, just as it would have been when Alexander McKay built it in 1874
  • Sutherland Steam Mill: Explore this 1894 saw mill and discover Nova Scotian ingenuity in a mill once powered by steam 
  • Wallace and Area Museum: Visitors are invited to stroll through the museum (with over 1000 artifacts) and garden areas, where many of the original plants and trees can still be found. The museum also offers short walking trails, as well as a wilderness trail

Tatamagouche Accommodations 

  • Train Station Inn: Carefully restored, the dining car offers the charm and nostalgia of years gone by. Homemade seafood chowder, fish cakes, steak and lobster make for a truly first-class dining experience.
  • The Cottages at Cambra Sands: Seven 4.5 star luxury cottages located on a private sandy warm water beach.
  • Fox Harb’r Golf Resort and Spa has been consistently ranked among the top Destination Resorts in Canada by leading travel consumer reports and industry peers. Fox Harb’r is one of only five 5-star resorts in Canada.
  • Balmoral Motel: Located alongside Waugh’s River and Trans Canada Trail and near warm saltwater beaches, golf and museums.

Tatamagouche Golf

Seaside golf is at its best along the Northumberland Shore.

  • Brule Point Golf: Oceanfront course, beautiful views and14 holes. 5 new dunes-style holes with traditional Scottish links mounding, fescues, bunkering, and generous bent-grass greens.
  • Fox Harb’r Golf Resort and Spa: visitors can enjoy our 18-hole championship course and our par-3 course, both designed by Golf Hall of Fame architect Graham Cooke. This par-72 (7253 yards) course is a magnificent blend of both Scottish links and traditional parkland golf situated along the spectacular rugged sea coast of the Northumberland Strait.
  • Northumberland Links: The 6313 (white tees), par 72 course, minutes from Pugwash, overlooking the Northumberland Strait, is one of Atlantic Canada’s most picturesque and challenging layouts.

Source Nova Scotia.com: http://www.novascotia.com/about-nova-scotia/regions/northumberland-shore/tatamagouche

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