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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

1 Maxie Street, Glace Bay Ns B1a 2e3

3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
15Picture(s)
1,368Sqft
RE/MAX Park Place Inc.
C$325000

Residential For Sale

1 Maxie Street, Glace Bay Ns B1a 2e3
3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,368Sqft
RE/MAX Park Place Inc.
A beautiful modular home for sale in Glace Bay 3 beds 2 baths, on your own lot of land also has a garage, at the back of the garage is an Airbnb, this is perfect if you are thinking about downsizing on your own private lot, the seller collects $150 a night whenever somebody books.
C$325000

Residential For Sale

1 Maxie Street, Glace Bay Ns B1a 2e3
RE/MAX Park Place Inc.
3Bedroom(s)
2Bathroom(s)
C$325000

Residential For Sale

7846 Highway 331, Cherry Hill Ns B0j 2h0

5Bedroom(s)
3Bathroom(s)
DoubleParking(s)
50Picture(s)
2,800Sqft
EXIT Realty Inter Lake
C$850000

Residential For Sale

7846 Highway 331, Cherry Hill Ns B0j 2h0
5Bedroom(s)
3Bathroom(s)
DoubleParking(s)
2,800Sqft
EXIT Realty Inter Lake
LOCATION! LOCATION! LOCATION! Cherry Hill a quaint fishing hamlet on the shore of Nova Scotia’s South West Coast. Cast away the hustle Urban Living and live comfortably where you and family are known and not a NUMBER. Enjoy the area beaches, 5 within a 10 minute drive . If you are a SURFER 2 of those beaches are less than 5 minutes away.
C$850000

Residential For Sale

7846 Highway 331, Cherry Hill Ns B0j 2h0
EXIT Realty Inter Lake
5Bedroom(s)
3Bathroom(s)
C$850000

Residential For Sale

72 Huntington Street, Yarmouth Ns B5a 2s3

4Bedroom(s)
2Bathroom(s)
OtherParking(s)
33Picture(s)
1,920Sqft
The Real Estate Store
C$339900

Residential For Sale

72 Huntington Street, Yarmouth Ns B5a 2s3
4Bedroom(s)
2Bathroom(s)
OtherParking(s)
1,920Sqft
The Real Estate Store
Are you looking for a family home in Yarmouth's north end? 72 Huntington Street is sitting on a large treed lot that is centrally located to schools, shopping and great walking and recreation options. This 4 bedroom 1.5 bathroom 2 storey home also has some finished space in the basement. There is good storage space with the outbuildings and a spacious back yard.
C$339900

Residential For Sale

72 Huntington Street, Yarmouth Ns B5a 2s3
The Real Estate Store
4Bedroom(s)
2Bathroom(s)
C$339900

Residential For Sale

87 Edith's Point Road, South Brookfield Ns B0t 1k0

4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
50Picture(s)
1,300Sqft
RE/MAX Banner Real Estate (Bridgewater)
C$475000

Residential For Sale

87 Edith's Point Road, South Brookfield Ns B0t 1k0
4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,300Sqft
RE/MAX Banner Real Estate (Bridgewater)
If you're Looking for a wonderful 3 season retreat this property could be the one! Nestled among the trees in a beautiful private setting, this 7 acre property offers 200 ft of waterfrontage at the mouth of the Medway River where it opens into Ponhook Lake.
C$475000

Residential For Sale

87 Edith's Point Road, South Brookfield Ns B0t 1k0
RE/MAX Banner Real Estate (Bridgewater)
4Bedroom(s)
2Bathroom(s)
C$475000

Residential For Sale

668 Logan Road, Frasers Mountain, NS B2H 5C4

3Bedroom(s)
1Bathroom(s)
DetachedParking(s)
50Picture(s)
2,225Sqft
Viewpoint Realty Services Inc. (Pictou)
C$409000

Residential For Sale

668 Logan Road, Frasers Mountain, NS B2H 5C4
3Bedroom(s)
1Bathroom(s)
DetachedParking(s)
2,225Sqft
Viewpoint Realty Services Inc. (Pictou)
Discover this rare gem: a charming 3-bedroom log home nestled on a picturesque 4.1-acre lot, just minutes from all towns in Pictou County. Meticulously constructed and lovingly maintained, this home is now ready to welcome its second family. The main floor features a spacious kitchen with an adjacent dining area that overlooks the sunken living room.
C$409000

Residential For Sale

668 Logan Road, Frasers Mountain, NS B2H 5C4
Viewpoint Realty Services Inc. (Pictou)
3Bedroom(s)
1Bathroom(s)
C$409000

Residential For Sale

122 Herrett Road, Springhill Ns B0m 1x0

3Bedroom(s)
2Bathroom(s)
AttachedParking(s)
50Picture(s)
2,351Sqft
Coldwell Banker Performance Realty
C$499900

Residential For Sale

122 Herrett Road, Springhill Ns B0m 1x0
3Bedroom(s)
2Bathroom(s)
AttachedParking(s)
2,351Sqft
Coldwell Banker Performance Realty
NEWLY CONSTRUCTED BUNGALOW ON 1.82 ACRES! This home was completed in 2022 with accessibility in mind, all doorways are 36 inches wide, and all the lighting can be controlled through Bluetooth. Set back from the street there is a large driveway, attached heated double car garage, and a beautiful front porch with custom pillars.
C$499900

Residential For Sale

122 Herrett Road, Springhill Ns B0m 1x0
Coldwell Banker Performance Realty
3Bedroom(s)
2Bathroom(s)
C$499900

Residential For Sale

39 Nightshade Lane, Middle Sackville Ns B4e 0t4

4Bedroom(s)
5Bathroom(s)
AttachedParking(s)
50Picture(s)
4,678Sqft
Keller Williams Select Realty
C$1698800

Residential For Sale

39 Nightshade Lane, Middle Sackville Ns B4e 0t4
4Bedroom(s)
5Bathroom(s)
AttachedParking(s)
4,678Sqft
Keller Williams Select Realty
SPECTACULAR Custom Design Build by ReDesigns Construction with amazing attention to quality & detail boasting 10' ceilings on the main level, 9' in upper level! Open concept living at its' finest with huge inviting foyer with soaring ceiling, spectacular showcase kitchen featuring expansive island with waterfall edge, sleek custom range wall, expansive counter & storage space, spacious walk-in pan
C$1698800

Residential For Sale

39 Nightshade Lane, Middle Sackville Ns B4e 0t4
Keller Williams Select Realty
4Bedroom(s)
5Bathroom(s)
C$1698800

Residential For Sale

1568 Highway 331, Pleasantville Ns B0r 1g0

1Bathroom(s)
GravelParking(s)
19Picture(s)
1,700Sqft
Engel & Volkers (Lunenburg)
C$250000

Residential For Sale

1568 Highway 331, Pleasantville Ns B0r 1g0
1Bathroom(s)
GravelParking(s)
1,700Sqft
Engel & Volkers (Lunenburg)
This house, at one time a community hall, is today residentially zoned and located just seven minutes' drive south of the Town of Bridgewater in the riverside community of Pleasantville. Double front doors lead to a spacious front foyer before entering a large great-room with its sixteen foot vaulted ceiling clad in the original tongue-and-groove softwood.
C$250000

Residential For Sale

1568 Highway 331, Pleasantville Ns B0r 1g0
Engel & Volkers (Lunenburg)
1Bathroom(s)
C$250000

Residential For Sale

1 Gull Rock Road, Lockeport Ns B0t 1l0

12Bedroom(s)
6Bathroom(s)
GravelParking(s)
50Picture(s)
583Sqft
RE/MAX Nova
C$1200000

Residential For Sale

1 Gull Rock Road, Lockeport Ns B0t 1l0
12Bedroom(s)
6Bathroom(s)
GravelParking(s)
583Sqft
RE/MAX Nova
Discover the epitome of coastal living at this extraordinary oceanfront property on Nova Scotia's south shore. A harmonious blend of residential and commercial allure, this resort boasts five meticulously maintained cottages and a charming chalet, each designed for year-round comfort. The current owners, stewards for many years, have ensured ongoing quality.
C$1200000

Residential For Sale

1 Gull Rock Road, Lockeport Ns B0t 1l0
RE/MAX Nova
12Bedroom(s)
6Bathroom(s)
C$1200000

Residential For Sale

42 Birchtown Hill Road, Birchtown Ns B0t 1w0

5Bedroom(s)
3Bathroom(s)
GravelParking(s)
45Picture(s)
2,833Sqft
Keller Williams Select Realty (Bridgewater)
C$449000

Residential For Sale

42 Birchtown Hill Road, Birchtown Ns B0t 1w0
5Bedroom(s)
3Bathroom(s)
GravelParking(s)
2,833Sqft
Keller Williams Select Realty (Bridgewater)
Ready to make your dreams come true? Spacious 2-level farmhouse, paddock, riding ring & barn with 6.92 acres and income potential awaits! Featuring large family room and charming kitchen alongside a formal dining room overlooking the river, 4 large bedrooms on second level, one of which provides access to a cute 1- room apartment with skylight and separate entrance.
C$449000

Residential For Sale

42 Birchtown Hill Road, Birchtown Ns B0t 1w0
Keller Williams Select Realty (Bridgewater)
5Bedroom(s)
3Bathroom(s)
C$449000

Residential For Sale

3392 Highway 4, Glenholme Ns B0m 1g0

5Bedroom(s)
2Bathroom(s)
Circular DrivewayParking(s)
29Picture(s)
2,179Sqft
RE/MAX Fairlane Realty
C$275000

Residential For Sale

3392 Highway 4, Glenholme Ns B0m 1g0
5Bedroom(s)
2Bathroom(s)
Circular DrivewayParking(s)
2,179Sqft
RE/MAX Fairlane Realty
Whether you are looking to own your income property or get into your first home without breaking the bank, this is the opportunity for you. This home boasts a new metal roof, newer windows, a full circular driveway as well as 2 great units. All for under 300K! As an added bonus the rear unit is accessible with a large washroom with roll in shower complete with seating and safety bars.
C$275000

Residential For Sale

3392 Highway 4, Glenholme Ns B0m 1g0
RE/MAX Fairlane Realty
5Bedroom(s)
2Bathroom(s)
C$275000

Residential For Sale

15010 Cabot Trail, Chéticamp Ns B0e 1h0

4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
50Picture(s)
3,000Sqft
Cape Breton Realty (Port Hawkesbury)
C$499900

Residential For Sale

15010 Cabot Trail, Chéticamp Ns B0e 1h0
4Bedroom(s)
4Bathroom(s)
AttachedParking(s)
3,000Sqft
Cape Breton Realty (Port Hawkesbury)
This exceptional 12-year-old-property is more than just a home, it's a lifestyle and an investment opportunity into one! Nestled in the picturesque community of Cheticamp, this property boasts breathtaking sunset views over Cheticamp Island from the comfort of your covered front deck.
C$499900

Residential For Sale

15010 Cabot Trail, Chéticamp Ns B0e 1h0
Cape Breton Realty (Port Hawkesbury)
4Bedroom(s)
4Bathroom(s)
C$499900
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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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