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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

98 Sierra Drive, New Glasgow, NS B2H 6A2

4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
48Picture(s)
2,280Sqft
Blinkhorn Real Estate Ltd.
C$450000

Residential For Sale

98 Sierra Drive, New Glasgow, NS B2H 6A2
4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
2,280Sqft
Blinkhorn Real Estate Ltd.
Welcome to your dream home in a GREAT LOCATION! This stunning residence offers a unique feature that sets it apart from many… the privacy in the fully fenced back yard and a side porch with access to the lower level, perfect for potential suite conversion. Before going inside, you’ll notice the inviting in-ground pool, complete with a newer pool filter and pump.
C$450000

Residential For Sale

98 Sierra Drive, New Glasgow, NS B2H 6A2
Blinkhorn Real Estate Ltd.
4Bedroom(s)
2Bathroom(s)
C$450000

Residential For Sale

6277 Lawrence Street, Halifax, NS B3L 1J8

2Bedroom(s)
2Bathroom(s)
No GarageParking(s)
29Picture(s)
1,526Sqft
Royal LePage Atlantic
C$725000

Residential For Sale

6277 Lawrence Street, Halifax, NS B3L 1J8
2Bedroom(s)
2Bathroom(s)
No GarageParking(s)
1,526Sqft
Royal LePage Atlantic
Situated on a mature tree lined street, this 2 storey home boasts 2-3 bedrooms, 2 full baths, beautiful hardwood floors and is ready for a new owner! With 1500+ sq foot home is perfect for a couple, first time homebuyer and those needing to downsize but not quite ready for condo life.
C$725000

Residential For Sale

6277 Lawrence Street, Halifax, NS B3L 1J8
Royal LePage Atlantic
2Bedroom(s)
2Bathroom(s)
C$725000

Residential For Sale

105-151 Ritchie Street, Annapolis Royal, NS B0S 1A0

1Bedroom(s)
2Bathroom(s)
AssignedParking(s)
27Picture(s)
600Sqft
Exit Realty Town & Country
C$243500

Residential For Sale

105-151 Ritchie Street, Annapolis Royal, NS B0S 1A0
1Bedroom(s)
2Bathroom(s)
AssignedParking(s)
600Sqft
Exit Realty Town & Country
Spacious and stylish, this ground floor condo features one of the few private exterior entrances in the building, offering added convenience and privacy with no need for elevators or shared hallways. Inside, you'll find a large one-bedroom, 1.5-bath layout with a bright living area and a generously sized eat-in kitchen, perfect for casual meals or entertaining.
C$243500

Residential For Sale

105-151 Ritchie Street, Annapolis Royal, NS B0S 1A0
Exit Realty Town & Country
1Bedroom(s)
2Bathroom(s)
C$243500

Residential For Sale

3646 Highway 331, Lahave, NS B0R 1C0

1Bedroom(s)
1Bathroom(s)
GravelParking(s)
41Picture(s)
455Sqft
Engel & Volkers (Lunenburg)
C$305000

Residential For Sale

3646 Highway 331, Lahave, NS B0R 1C0
1Bedroom(s)
1Bathroom(s)
GravelParking(s)
455Sqft
Engel & Volkers (Lunenburg)
Prepare to be impressed! Welcome to the "Nautical Nest", cute as a button, located in the scenic community of Lahave. Such a pretty drive along the Lahave River to this little piece of paradise, from the minute you turn on the stunning tree lined drive you will feel like you are entering the enchanted forest.
C$305000

Residential For Sale

3646 Highway 331, Lahave, NS B0R 1C0
Engel & Volkers (Lunenburg)
1Bedroom(s)
1Bathroom(s)
C$305000

Residential For Sale

705-5959 Spring Garden Road, Halifax, NS B3H 1Y5

1Bedroom(s)
1Bathroom(s)
UndergroundParking(s)
26Picture(s)
482Sqft
Royal LePage Atlantic (Dartmouth)
C$299900

Residential For Sale

705-5959 Spring Garden Road, Halifax, NS B3H 1Y5
1Bedroom(s)
1Bathroom(s)
UndergroundParking(s)
482Sqft
Royal LePage Atlantic (Dartmouth)
Welcome to urban living at its finest on Spring Garden Road. A prime location just stones throw from downtown, universities, hospitals, local coffee shops, and some of the city’s best restaurants, this condo is ideal for professionals, students, or anyone looking to enjoy the vibrant heart of Halifax.
C$299900

Residential For Sale

705-5959 Spring Garden Road, Halifax, NS B3H 1Y5
Royal LePage Atlantic (Dartmouth)
1Bedroom(s)
1Bathroom(s)
C$299900

Residential For Sale

1280 Highway 331, East Port Medway, NS B0J 2H0

3Bedroom(s)
1Bathroom(s)
AttachedParking(s)
39Picture(s)
1,520Sqft
EXIT Realty Inter Lake
C$299900

Residential For Sale

1280 Highway 331, East Port Medway, NS B0J 2H0
3Bedroom(s)
1Bathroom(s)
AttachedParking(s)
1,520Sqft
EXIT Realty Inter Lake
In a market where it is getting harder and harder to find a house in a good location under $300K this could be the place you were looking for. This 3 bedroom, 1 bath house sits on 1.36 acres, has a large front deck, an attached two car garage and space for the whole family. The walkout basement offers potential for an in-law suite for extended family if that's what you are looking for.
C$299900

Residential For Sale

1280 Highway 331, East Port Medway, NS B0J 2H0
EXIT Realty Inter Lake
3Bedroom(s)
1Bathroom(s)
C$299900

Residential For Sale

31 Mills Mountain Road, Granville Ferry, NS B0S 1A0

3Bedroom(s)
2Bathroom(s)
Circular DrivewayParking(s)
40Picture(s)
2,264Sqft
Exit Realty Town & Country
C$429500

Residential For Sale

31 Mills Mountain Road, Granville Ferry, NS B0S 1A0
3Bedroom(s)
2Bathroom(s)
Circular DrivewayParking(s)
2,264Sqft
Exit Realty Town & Country
Located in the desirable community of Granville Ferry, this move-in ready 3 bedroom, 2 bathroom home offers comfort, efficiency and room to grow all on a generous almost 3/4 acre lot. Just minutes from the vibrant arts scene and full services of Annapolis Royal, you'll also enjoy the convenience of municipal water and sewer.
C$429500

Residential For Sale

31 Mills Mountain Road, Granville Ferry, NS B0S 1A0
Exit Realty Town & Country
3Bedroom(s)
2Bathroom(s)
C$429500

Residential For Sale

567 Young Street, Truro, NS B2N 3Y8

2Bedroom(s)
2Bathroom(s)
No GarageParking(s)
20Picture(s)
1,183Sqft
ViewPoint Realty Services Inc.(Greenwood)
C$399000

Residential For Sale

567 Young Street, Truro, NS B2N 3Y8
2Bedroom(s)
2Bathroom(s)
No GarageParking(s)
1,183Sqft
ViewPoint Realty Services Inc.(Greenwood)
A Modern Masterpiece Steps from Victoria Park This beautifully designed two-story home, built on an engineered ICF slab, offers a perfect blend of luxury, comfort, and sustainability. Nestled beside the iconic Victoria Park and Bike Park in Truro, spanning over 3,000 acres, this home delivers exceptional energy efficiency with R5 structural panels, minimizing thermal bridging and heat loss.
C$399000

Residential For Sale

567 Young Street, Truro, NS B2N 3Y8
ViewPoint Realty Services Inc.(Greenwood)
2Bedroom(s)
2Bathroom(s)
C$399000

Residential For Sale

223 Scotch Hill Road, Scotch Hill, NS B0K 1H0

5Bedroom(s)
3Bathroom(s)
OtherParking(s)
50Picture(s)
3,243Sqft
Blinkhorn Real Estate Ltd.
C$1495000

Residential For Sale

223 Scotch Hill Road, Scotch Hill, NS B0K 1H0
5Bedroom(s)
3Bathroom(s)
OtherParking(s)
3,243Sqft
Blinkhorn Real Estate Ltd.
Welcome to the property at 223 Scotch Hill, an exceptional estate that seamlessly combines modern comfort with the beauty of nature.
C$1495000

Residential For Sale

223 Scotch Hill Road, Scotch Hill, NS B0K 1H0
Blinkhorn Real Estate Ltd.
5Bedroom(s)
3Bathroom(s)
C$1495000

Residential For Sale

12 Cedar Court, Sydney, NS B1P 6S1

3Bedroom(s)
1Bathroom(s)
No GarageParking(s)
30Picture(s)
1,005Sqft
3% Realty Nova Scotia
C$249000

Residential For Sale

12 Cedar Court, Sydney, NS B1P 6S1
3Bedroom(s)
1Bathroom(s)
No GarageParking(s)
1,005Sqft
3% Realty Nova Scotia
Discover the incredible potential and unbeatable location of 12 Cedar Court! Nestled on a peaceful and highly desirable cul-de-sac in a welcoming Sydney neighbourhood, this home presents a fantastic opportunity for first-time buyers, down sizers, or savvy investors ready to make a property their own. Step inside and be greeted by a home that is flooded with beautiful natural light.
C$249000

Residential For Sale

12 Cedar Court, Sydney, NS B1P 6S1
3% Realty Nova Scotia
3Bedroom(s)
1Bathroom(s)
C$249000

Residential For Sale

318 Highway 1, Deep Brook, NS B0S 1J0

5Bedroom(s)
2Bathroom(s)
GravelParking(s)
44Picture(s)
1,494Sqft
ViewPoint Realty Services Inc.(Greenwood)
C$335000

Residential For Sale

318 Highway 1, Deep Brook, NS B0S 1J0
5Bedroom(s)
2Bathroom(s)
GravelParking(s)
1,494Sqft
ViewPoint Realty Services Inc.(Greenwood)
Are you looking for a property with land that you can share with family, but live seperately and set up a homestead lifestyle together? Or maybe a chance to live in the country, but have a mortgage helper? Or simply as an investment to add to your portfolio? This hard to find, side by side country home duplex, sits on 2.25 acres and has a view of the picturesque Annapolis Basin.
C$335000

Residential For Sale

318 Highway 1, Deep Brook, NS B0S 1J0
ViewPoint Realty Services Inc.(Greenwood)
5Bedroom(s)
2Bathroom(s)
C$335000

Residential For Sale

30 Sunset Drive, Dartmouth, NS B2X 2R8

3Bedroom(s)
3Bathroom(s)
AttachedParking(s)
50Picture(s)
3,542Sqft
RE/MAX Nova (Halifax)
C$1595000

Residential For Sale

30 Sunset Drive, Dartmouth, NS B2X 2R8
3Bedroom(s)
3Bathroom(s)
AttachedParking(s)
3,542Sqft
RE/MAX Nova (Halifax)
Welcome to 30 Sunset Drive, where European-inspired elegance meets peaceful lakefront living on beautiful Lake Charles. Tucked at the end of a quiet cul-de-sac, this enchanting property spans a 17,136 sq. ft. pie-shaped lot with 183 feet of southwest-facing lake frontage—perfect for soaking in golden sunsets. From the moment you arrive, the setting feels like a European countryside escape.
C$1595000

Residential For Sale

30 Sunset Drive, Dartmouth, NS B2X 2R8
RE/MAX Nova (Halifax)
3Bedroom(s)
3Bathroom(s)
C$1595000
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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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