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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

157 Queen Street, Digby, NS B0V 1A0

5Bedroom(s)
2Bathroom(s)
GravelParking(s)
49Picture(s)
3,356Sqft
Engel & Volkers (Annapolis Royal)
C$599000

Residential For Sale

157 Queen Street, Digby, NS B0V 1A0
5Bedroom(s)
2Bathroom(s)
GravelParking(s)
3,356Sqft
Engel & Volkers (Annapolis Royal)
The crown jewel of Queen Street. This prestigious, Victorian gem was constructed in the late 1890's for the then manager of the Bank of Nova Scotia. Meticulously renovated and all upgrades completed to their fullest with no compromise to the quality. The original exterior was painstakingly restored providing strength and endurance.
C$599000

Residential For Sale

157 Queen Street, Digby, NS B0V 1A0
Engel & Volkers (Annapolis Royal)
5Bedroom(s)
2Bathroom(s)
C$599000

Residential For Sale

307-118 Farnham Gate Road, Halifax, NS B3M 4A1

2Bedroom(s)
2Bathroom(s)
AssignedParking(s)
17Picture(s)
1,300Sqft
Keller Williams Select Realty
C$349900

Residential For Sale

307-118 Farnham Gate Road, Halifax, NS B3M 4A1
2Bedroom(s)
2Bathroom(s)
AssignedParking(s)
1,300Sqft
Keller Williams Select Realty
This could be the way to enter the housing market....!!!! Set back from the road, this condo in avery quiet building. Efficient kitchen. Intimate dining room open to the living space makes itperfect for entertaining. Sweet patio is the ideal spot to start your day with a coffee, orfinish it in the evening with your favourite glass of wine. Two large bedrooms.
C$349900

Residential For Sale

307-118 Farnham Gate Road, Halifax, NS B3M 4A1
Keller Williams Select Realty
2Bedroom(s)
2Bathroom(s)
C$349900

Residential For Sale

49 Rear Barachois Rd., Englishtown, NS B0E 1B0

3Bedroom(s)
2Bathroom(s)
GravelParking(s)
13Picture(s)
2,560Sqft
Cape Breton Realty (Port Hawkesbury)
C$285500

Residential For Sale

49 Rear Barachois Rd., Englishtown, NS B0E 1B0
3Bedroom(s)
2Bathroom(s)
GravelParking(s)
2,560Sqft
Cape Breton Realty (Port Hawkesbury)
Built in 1865, this peaceful home sits on the side of a mountain in one of Cape Breton’s most scenic areas. Just steps away from the Rear Barachois River and the stunning Barachois River Gorge, enjoy hiking and exploring the Barachois Mountain Gorge trail system. Even better, it’s just steps away from a fabulous swimming hole—perfect for cooling off on warm summer days.
C$285500

Residential For Sale

49 Rear Barachois Rd., Englishtown, NS B0E 1B0
Cape Breton Realty (Port Hawkesbury)
3Bedroom(s)
2Bathroom(s)
C$285500

Residential For Sale

101 Pleasant Street, Bridgewater, NS B4V 1N3

5Bedroom(s)
1Bathroom(s)
DoubleParking(s)
49Picture(s)
2,188Sqft
Exit Real Estate Professionals
C$399900

Residential For Sale

101 Pleasant Street, Bridgewater, NS B4V 1N3
5Bedroom(s)
1Bathroom(s)
DoubleParking(s)
2,188Sqft
Exit Real Estate Professionals
Location and Potential! This charming 1.5-storey home is full of opportunity and ideally located in the heart of Bridgewater. Featuring five bedrooms and one bathroom, there’s plenty of space for a growing family, rental potential, or future expansion — the possibilities are endless.
C$399900

Residential For Sale

101 Pleasant Street, Bridgewater, NS B4V 1N3
Exit Real Estate Professionals
5Bedroom(s)
1Bathroom(s)
C$399900

Residential For Sale

8495 Highway 3, Port Mouton, NS B0T 1T0

3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
50Picture(s)
1,440Sqft
The Agency Real Estate Brokerage
C$349900

Residential For Sale

8495 Highway 3, Port Mouton, NS B0T 1T0
3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,440Sqft
The Agency Real Estate Brokerage
Embrace the charm of true Nova Scotia coastal living with this 3 bedroom, 2 bathroom oceanfront home, nestled in the sheltered embrace of Jones Cove. Set in the storied fishing village of Port Mouton, named after a sheep that famously leapt overboard and swam ashore in 1604. This is a home that will make you the most interesting guest at any gathering. Location is everything here.
C$349900

Residential For Sale

8495 Highway 3, Port Mouton, NS B0T 1T0
The Agency Real Estate Brokerage
3Bedroom(s)
2Bathroom(s)
C$349900

Residential For Sale

122 Riverview Crescent, Bedford, NS B4A 2X4

4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
50Picture(s)
4,386Sqft
Keller Williams Select Realty
C$809500

Residential For Sale

122 Riverview Crescent, Bedford, NS B4A 2X4
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
4,386Sqft
Keller Williams Select Realty
WELCOME TO 122 RIVERVIEW CRES!!! This beautiful custom built home offers over 4000 sq ft of living space. Located at the end of a quiet cul-de-sac in sought- after Oakmount Subdivision. Main level offers a spacious foyer, formal living room and dining room, open concept(updated) kitchen with dining nook, family room and sunroom(with walkout to deck). 2pc powder room and a 20x20 garage.
C$809500

Residential For Sale

122 Riverview Crescent, Bedford, NS B4A 2X4
Keller Williams Select Realty
4Bedroom(s)
4Bathroom(s)
C$809500

Residential For Sale

33 Rowledge Lane, Bedford, NS B4A 0J6

5Bedroom(s)
4Bathroom(s)
DoubleParking(s)
50Picture(s)
3,957Sqft
Keller Williams Select Realty
C$1199000

Residential For Sale

33 Rowledge Lane, Bedford, NS B4A 0J6
5Bedroom(s)
4Bathroom(s)
DoubleParking(s)
3,957Sqft
Keller Williams Select Realty
Get ready to be impressed! This absolutely stunning two-storey home is tucked away at the end of a private lane—quiet, private, and walking distance to all amenities. A fully custom build with no detail overlooked. The main floor features a spacious foyer, a bright den or office, a stylish 2-piece bath, access to the double garage, and a beautiful open-concept living space.
C$1199000

Residential For Sale

33 Rowledge Lane, Bedford, NS B4A 0J6
Keller Williams Select Realty
5Bedroom(s)
4Bathroom(s)
C$1199000

Residential For Sale

1036 Inglisville Road, Inglisville, NS B0S 1M0

3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
30Picture(s)
1,790Sqft
RE/MAX Banner Real Estate
C$449000

Residential For Sale

1036 Inglisville Road, Inglisville, NS B0S 1M0
3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,790Sqft
RE/MAX Banner Real Estate
Immaculate, very well-maintained bungalow on a peaceful 3.65-acre lot with mature trees, paved driveway, and excellent curb appeal, just 25 minutes to CFB Greenwood and moments to nearby amenities. This spotless home shows true pride of ownership with major updates including roof shingles (2018), exterior stain (2022), and a 1.5 car detached wired garage built in 2017, plus a garden shed.
C$449000

Residential For Sale

1036 Inglisville Road, Inglisville, NS B0S 1M0
RE/MAX Banner Real Estate
3Bedroom(s)
2Bathroom(s)
C$449000

Residential For Sale

3 Mcneil Street, Dartmouth, NS B2Y 2H2

3Bedroom(s)
1Bathroom(s)
DetachedParking(s)
40Picture(s)
1,243Sqft
East Coast Realty Ltd.
C$449900

Residential For Sale

3 Mcneil Street, Dartmouth, NS B2Y 2H2
3Bedroom(s)
1Bathroom(s)
DetachedParking(s)
1,243Sqft
East Coast Realty Ltd.
Tucked on a quiet, tree-lined side street in one of Dartmouth’s most beloved older neighbourhoods, 3 McNeil Street is the kind of place where neighbours chat on the sidewalk, dogs greet each other by name, and walking to the ferry or grabbing coffee downtown is part of daily life.
C$449900

Residential For Sale

3 Mcneil Street, Dartmouth, NS B2Y 2H2
East Coast Realty Ltd.
3Bedroom(s)
1Bathroom(s)
C$449900

Residential For Sale

2298 Western Avenue, Parrsboro, NS B0M 1S0

4Bedroom(s)
2Bathroom(s)
DetachedParking(s)
4Picture(s)
2,465Sqft
RE/MAX County Line Realty Ltd.
C$199999

Residential For Sale

2298 Western Avenue, Parrsboro, NS B0M 1S0
4Bedroom(s)
2Bathroom(s)
DetachedParking(s)
2,465Sqft
RE/MAX County Line Realty Ltd.
Step into a piece of Parrsboro's history with this character-filled home, proudly built in 1898 by renowned local mason and carpenter Alexander Dyas.
C$199999

Residential For Sale

2298 Western Avenue, Parrsboro, NS B0M 1S0
RE/MAX County Line Realty Ltd.
4Bedroom(s)
2Bathroom(s)
C$199999

Residential For Sale

273 Old Post Road, Grand Pré, NS B0P 1M0

5Bedroom(s)
6Bathroom(s)
Circular DrivewayParking(s)
34Picture(s)
3,198Sqft
Viewpoint Realty Services Inc.
C$1200000

Residential For Sale

273 Old Post Road, Grand Pré, NS B0P 1M0
5Bedroom(s)
6Bathroom(s)
Circular DrivewayParking(s)
3,198Sqft
Viewpoint Realty Services Inc.
Welcome to 273 Old Post Road in Grand Pré, a place of good country living. Whether you are looking for a large family home, a small farm, a bed and breakfast, or a wellness retreat, you have found it here. Originally built in 1770, with additions in 1853 and 1983, the house has been thoughtfully maintained and updated over the years to balance historic charm with contemporary living.
C$1200000

Residential For Sale

273 Old Post Road, Grand Pré, NS B0P 1M0
Viewpoint Realty Services Inc.
5Bedroom(s)
6Bathroom(s)
C$1200000

Residential For Sale

380 Northeast Mabou Road, Northeast Mabou, NS B0E 1X0

3Bedroom(s)
1Bathroom(s)
DetachedParking(s)
50Picture(s)
1,700Sqft
Viewpoint Realty Services Inc. (Sydney)
C$999999

Residential For Sale

380 Northeast Mabou Road, Northeast Mabou, NS B0E 1X0
3Bedroom(s)
1Bathroom(s)
DetachedParking(s)
1,700Sqft
Viewpoint Realty Services Inc. (Sydney)
Experience the allure of Mabou with your very own dream working farm consisting of 332 acres. Property is migrated. Escape to the serene beauty of this Celtic-inspired haven and immerse yourself in its enchanting music and lifestyle.
C$999999

Residential For Sale

380 Northeast Mabou Road, Northeast Mabou, NS B0E 1X0
Viewpoint Realty Services Inc. (Sydney)
3Bedroom(s)
1Bathroom(s)
C$999999
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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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