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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

25 Reginald Court, Herring Cove, NS B3R 0C1

2Bedroom(s)
2Bathroom(s)
AttachedParking(s)
30Picture(s)
1,253Sqft
Royal LePage Atlantic
C$610000

Residential For Sale

25 Reginald Court, Herring Cove, NS B3R 0C1
2Bedroom(s)
2Bathroom(s)
AttachedParking(s)
1,253Sqft
Royal LePage Atlantic
This well-maintained 2-bedroom, 2-bath home is just 4 years old and still covered under the new home warranty. Designed for easy one-level living with 9ft ceilings, a ductless heat pump, and an open-concept layout. The kitchen features quartz countertops and undermount lighting. Both full bathrooms have been upgraded with quartz counters, and the ensuite features an easy-to-access walk-in shower.
C$610000

Residential For Sale

25 Reginald Court, Herring Cove, NS B3R 0C1
Royal LePage Atlantic
2Bedroom(s)
2Bathroom(s)
C$610000

Residential For Sale

183 Lakewood Drive, Shortts Lake, NS B2N 1C0

3Bedroom(s)
2Bathroom(s)
GravelParking(s)
50Picture(s)
1,548Sqft
Royal LePage Atlantic (Enfield)
C$799900

Residential For Sale

183 Lakewood Drive, Shortts Lake, NS B2N 1C0
3Bedroom(s)
2Bathroom(s)
GravelParking(s)
1,548Sqft
Royal LePage Atlantic (Enfield)
Welcome to 183 Lakewood Drive, a truly unique lakeside home on the highly sought-after Shortts Lake. This beautiful property offers stunning water views, unmatched privacy, and a peaceful setting with a paved driveway and quick highway access.
C$799900

Residential For Sale

183 Lakewood Drive, Shortts Lake, NS B2N 1C0
Royal LePage Atlantic (Enfield)
3Bedroom(s)
2Bathroom(s)
C$799900

Residential For Sale

1108 Highway 335, Middle West Pubnico, NS B0W 3S0

4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
36Picture(s)
2,228Sqft
The Real Estate Store
C$389000

Residential For Sale

1108 Highway 335, Middle West Pubnico, NS B0W 3S0
4Bedroom(s)
3Bathroom(s)
AttachedParking(s)
2,228Sqft
The Real Estate Store
Located centrally in the well known community of West Pubnico sits 1108 Hwy 335 This 2 storey stately well maintained home is ready for a new owner. This 4-5 bedroom home with bedrooms on both levels has lots of living space for the growing family and extended guests.
C$389000

Residential For Sale

1108 Highway 335, Middle West Pubnico, NS B0W 3S0
The Real Estate Store
4Bedroom(s)
3Bathroom(s)
C$389000

Residential For Sale

346 Lower Branch Road, Lower Branch, NS B4V 4M1

2Bedroom(s)
2Bathroom(s)
DoubleParking(s)
33Picture(s)
1,122Sqft
EXIT Realty Inter Lake
C$249900

Residential For Sale

346 Lower Branch Road, Lower Branch, NS B4V 4M1
2Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,122Sqft
EXIT Realty Inter Lake
This is THAT house, that feels like HOME the second you pull in the driveway. Tucked away in Lower Branch — just 5 minutes from town — this sweet spot is the perfect mix of peaceful country living and everyday convenience. Enjoy county taxes (hello savings!), but still be minutes from schools, Michelin, the LCLC, and all of Bridgewater’s best shops and stops.
C$249900

Residential For Sale

346 Lower Branch Road, Lower Branch, NS B4V 4M1
EXIT Realty Inter Lake
2Bedroom(s)
2Bathroom(s)
C$249900

Residential For Sale

227 Beaver Bank Cross Road, Middle Sackville, NS B4E 2E7

3Bedroom(s)
2Bathroom(s)
AttachedParking(s)
36Picture(s)
1,457Sqft
RE/MAX Nova (Halifax)
C$499900

Residential For Sale

227 Beaver Bank Cross Road, Middle Sackville, NS B4E 2E7
3Bedroom(s)
2Bathroom(s)
AttachedParking(s)
1,457Sqft
RE/MAX Nova (Halifax)
Open House, Saturday, July 12 from 1-3 PM. Freshly updated detached home with a single car attached garage in the desirable Millwood Estates. Walking distance to schools, playground and trails. This home is perfect for a new family or someone who is looking to downsize. The main floor offers living and dining rooms open to modern kitchen.
C$499900

Residential For Sale

227 Beaver Bank Cross Road, Middle Sackville, NS B4E 2E7
RE/MAX Nova (Halifax)
3Bedroom(s)
2Bathroom(s)
C$499900

Residential For Sale

65 Meadow Breeze Lane, Kings Head, NS B2H 5C4

5Bedroom(s)
5Bathroom(s)
GravelParking(s)
50Picture(s)
5,647Sqft
Cape Breton Realty
C$2900000

Residential For Sale

65 Meadow Breeze Lane, Kings Head, NS B2H 5C4
5Bedroom(s)
5Bathroom(s)
GravelParking(s)
5,647Sqft
Cape Breton Realty
Uncover the unparalleled charm of this extraordinary 5-bedroom, 5-bath timber frame home, meticulously crafted from salvaged barn wood and adorned with beams from historic barns. Central to its design is a majestic white pine tree over a century old, adding a touch of heritage to this architectural gem spanning about 6,000 square feet.
C$2900000

Residential For Sale

65 Meadow Breeze Lane, Kings Head, NS B2H 5C4
Cape Breton Realty
5Bedroom(s)
5Bathroom(s)
C$2900000

Residential For Sale

54 Cook Drive, East River, NS B0J 1T0

3Bedroom(s)
1Bathroom(s)
GravelParking(s)
23Picture(s)
1,024Sqft
Exit Realty Metro
C$175000

Residential For Sale

54 Cook Drive, East River, NS B0J 1T0
3Bedroom(s)
1Bathroom(s)
GravelParking(s)
1,024Sqft
Exit Realty Metro
This lovingly cared for 3 bed, 1 bath mini home in Hilltop Estates offers comfort, convenience, and a long list of thoughtful upgrades. Over the years, the home has seen major improvements including a new kitchen, updated plumbing, new siding, doors, flooring, and many windows. Two efficient heat pumps provide year-round comfort. The spacious lot allows for room to garden and entertain.
C$175000

Residential For Sale

54 Cook Drive, East River, NS B0J 1T0
Exit Realty Metro
3Bedroom(s)
1Bathroom(s)
C$175000

Residential For Sale

26 Highway 201, Lequille, NS B0S 1A0

2Bedroom(s)
1Bathroom(s)
DetachedParking(s)
34Picture(s)
927Sqft
RE/MAX Banner Real Estate
C$215000

Residential For Sale

26 Highway 201, Lequille, NS B0S 1A0
2Bedroom(s)
1Bathroom(s)
DetachedParking(s)
927Sqft
RE/MAX Banner Real Estate
Set on nearly an acre across two lots, this bungalow offers solid fundamentals, a beautiful setting, and the kind of location that is increasingly hard to find. Just minutes from the centre of Annapolis Royal, it is close enough to walk or cycle, while benefiting from county taxes, municipal sewer, and a spacious property. The front lot is open and sunlit, with excellent gardening potential.
C$215000

Residential For Sale

26 Highway 201, Lequille, NS B0S 1A0
RE/MAX Banner Real Estate
2Bedroom(s)
1Bathroom(s)
C$215000

Residential For Sale

3 Browns Road, New Victoria, NS B1H 4Y4

2Bedroom(s)
2Bathroom(s)
DetachedParking(s)
36Picture(s)
867Sqft
3% Realty Nova Scotia
C$249018

Residential For Sale

3 Browns Road, New Victoria, NS B1H 4Y4
2Bedroom(s)
2Bathroom(s)
DetachedParking(s)
867Sqft
3% Realty Nova Scotia
Discover this charming family home at 3 Browns Road, New Victoria. This welcoming home features 2 spacious bedrooms and 2 bathrooms, offering comfort and functionality for everyday living. The paved driveway provides easy access, leading to a detached garage perfect for parking or storage. Step outside to the beautifully landscaped yard, ideal for outdoor activities and relaxation.
C$249018

Residential For Sale

3 Browns Road, New Victoria, NS B1H 4Y4
3% Realty Nova Scotia
2Bedroom(s)
2Bathroom(s)
C$249018

Residential For Sale

61 Horatio Wood Road, Tusket, NS B0W 3M0

3Bedroom(s)
2Bathroom(s)
GravelParking(s)
44Picture(s)
2,628Sqft
Engel & Volkers (Yarmouth)
C$699000

Residential For Sale

61 Horatio Wood Road, Tusket, NS B0W 3M0
3Bedroom(s)
2Bathroom(s)
GravelParking(s)
2,628Sqft
Engel & Volkers (Yarmouth)
Welcome to the Abraham Lent House, a beautiful property that seamlessly blends magical four season Nova Scotia vistas with New England Colonial historical charm. Perched on 4.3 acres in the quaint community of Tusket, this extraordinary point-of-land boasts 780 feet of water frontage showcasing the incredible 15 foot tides of the Tusket River.
C$699000

Residential For Sale

61 Horatio Wood Road, Tusket, NS B0W 3M0
Engel & Volkers (Yarmouth)
3Bedroom(s)
2Bathroom(s)
C$699000

Residential For Sale

4 Charlie Drive, Middle New Cornwall, NS B0J 2E0

3Bedroom(s)
2Bathroom(s)
GravelParking(s)
14Picture(s)
1,264Sqft
Royal Lepage Atlantic (Mahone Bay)
C$399000

Residential For Sale

4 Charlie Drive, Middle New Cornwall, NS B0J 2E0
3Bedroom(s)
2Bathroom(s)
GravelParking(s)
1,264Sqft
Royal Lepage Atlantic (Mahone Bay)
Welcome to the Lake Mush-a-Mush community—where relaxed living meets natural beauty. This cozy cottage sits on a corner lot directly across from a public lake access point, giving you easy entry to one of the area’s most desirable lakes without the added cost of a waterfront property.
C$399000

Residential For Sale

4 Charlie Drive, Middle New Cornwall, NS B0J 2E0
Royal Lepage Atlantic (Mahone Bay)
3Bedroom(s)
2Bathroom(s)
C$399000

Residential For Sale

802-6095 Coburg Road, Halifax Peninsula, NS B3H 4K1

2Bedroom(s)
2Bathroom(s)
UndergroundParking(s)
27Picture(s)
1,500Sqft
Sotheby's International Realty Canada
C$899000

Residential For Sale

802-6095 Coburg Road, Halifax Peninsula, NS B3H 4K1
2Bedroom(s)
2Bathroom(s)
UndergroundParking(s)
1,500Sqft
Sotheby's International Realty Canada
Welcome to Suite 802 at The Carlyle, an elegant residence nestled in the heart of Halifax’s vibrant South End. This spacious 1,500 sq. ft. suite combines timeless sophistication with modern upgrades, perfectly positioned close to Dalhousie University, Halifax's major hospitals, and the city's renowned dining and cultural scene.
C$899000

Residential For Sale

802-6095 Coburg Road, Halifax Peninsula, NS B3H 4K1
Sotheby's International Realty Canada
2Bedroom(s)
2Bathroom(s)
C$899000
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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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