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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

19 Marchand Lane, Louisdale Ns B0e 1v0

3Bedroom(s)
2Bathroom(s)
GravelParking(s)
34Picture(s)
2,352Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
C$449000

Residential For Sale

19 Marchand Lane, Louisdale Ns B0e 1v0
3Bedroom(s)
2Bathroom(s)
GravelParking(s)
2,352Sqft
Keller Williams Select Realty(Sydney,Townsend St.)
Nestled at the end of Marchand Lane with Shannon Brook running through the property, this private three-bedroom,1.5-bathroom home offers serene living in the heart of Louisdale, Nova Scotia. Located in a peaceful neighbourhood with minimal traffic, the only vehicles passing by belong to your neighbours.
C$449000

Residential For Sale

19 Marchand Lane, Louisdale Ns B0e 1v0
Keller Williams Select Realty(Sydney,Townsend St.)
3Bedroom(s)
2Bathroom(s)
C$449000

Residential For Sale

254 Shore Road, Caribou River Ns B0k 1h0

2Bedroom(s)
2Bathroom(s)
DetachedParking(s)
12Picture(s)
1,344Sqft
PG Direct Realty Ltd.
C$699000

Residential For Sale

254 Shore Road, Caribou River Ns B0k 1h0
2Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,344Sqft
PG Direct Realty Ltd.
Visit REALTOR® website for additional information. Set back on a hill with a stunning water view, this brand-new 2- bedroom home offers modern comfort. The exterior features an in-group pool, fenced yard, concrete patio & a 3-car garage. Inside, then open-concept layout includes a kitchen with dark cabinetry, center island & waterproof laminate flooring.
C$699000

Residential For Sale

254 Shore Road, Caribou River Ns B0k 1h0
PG Direct Realty Ltd.
2Bedroom(s)
2Bathroom(s)
C$699000

Residential For Sale

213 Ponhook Shore Road, Labelle, NS B0T 1E0

3Bedroom(s)
1Bathroom(s)
SingleParking(s)
22Picture(s)
960Sqft
EXIT Realty Inter Lake Liverpool
C$449000

Residential For Sale

213 Ponhook Shore Road, Labelle, NS B0T 1E0
3Bedroom(s)
1Bathroom(s)
SingleParking(s)
960Sqft
EXIT Realty Inter Lake Liverpool
Enjoy cottage country at its best with this 3 bedroom, full undeveloped basement on Ponhook lake. This cottage has septic and dug well, along with a car/ boat port and down by the lake is a boathouse for your toys and a sauna room plus a dock for your water toys. The best part of this property is the extra waterfront lot that is included in the price.
C$449000

Residential For Sale

213 Ponhook Shore Road, Labelle, NS B0T 1E0
EXIT Realty Inter Lake Liverpool
3Bedroom(s)
1Bathroom(s)
C$449000

Residential For Sale

5053-209 Bondi Drive, Middle Sackville Ns B0n 1z0

4Bedroom(s)
3Bathroom(s)
DoubleParking(s)
2Picture(s)
2,053Sqft
Air Realty Limited
C$729900

Residential For Sale

5053-209 Bondi Drive, Middle Sackville Ns B0n 1z0
4Bedroom(s)
3Bathroom(s)
DoubleParking(s)
2,053Sqft
Air Realty Limited
Welcome to The Pineview by FH Development Group! Nestled in the tranquil and private community of Indigo Shores in Middle Sackville, The Pineview is the perfect home for new buyers seeking modern comfort and style.
C$729900

Residential For Sale

5053-209 Bondi Drive, Middle Sackville Ns B0n 1z0
Air Realty Limited
4Bedroom(s)
3Bathroom(s)
C$729900

Residential For Sale

100b Dockview Lane, Upper Hammonds Plains Ns B4b 1n7

3Bedroom(s)
3Bathroom(s)
DoubleParking(s)
4Picture(s)
2,394Sqft
EXP Realty of Canada Inc.
C$1099900

Residential For Sale

100b Dockview Lane, Upper Hammonds Plains Ns B4b 1n7
3Bedroom(s)
3Bathroom(s)
DoubleParking(s)
2,394Sqft
EXP Realty of Canada Inc.
This newest facsimile listing, to be built by Marchand Homes is nestled on 4.5 acres with 106 feet of waterfront along a private lane. This facsimile listing offers a secluded retreat from urban noise, boasting serene views of tranquil Taylor Lake. It provides the opportunity to customize finishes to your own preferences.
C$1099900

Residential For Sale

100b Dockview Lane, Upper Hammonds Plains Ns B4b 1n7
EXP Realty of Canada Inc.
3Bedroom(s)
3Bathroom(s)
C$1099900

Residential For Sale

304 Cape Road South, Cole Harbour, NS B0H 1T0

4Bedroom(s)
2Bathroom(s)
DetachedParking(s)
48Picture(s)
1,153Sqft
EXP Realty of Canada Inc.
C$215000

Residential For Sale

304 Cape Road South, Cole Harbour, NS B0H 1T0
4Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,153Sqft
EXP Realty of Canada Inc.
Nestled in the quiet, lush woods between Port Felix and Cole Harbour, NS is a property with two unique cottages and a garage on 2.5 Acres overlooking the Atlantic Ocean. The only sounds you hear are birds singing, seals talking and the waves slapping against the shoreline. Walking access to the ocean is less than a ¼ of a mile.
C$215000

Residential For Sale

304 Cape Road South, Cole Harbour, NS B0H 1T0
EXP Realty of Canada Inc.
4Bedroom(s)
2Bathroom(s)
C$215000

Residential For Sale

258 Faulkland Street, Pictou Ns B0k 1h0

6Bedroom(s)
4Bathroom(s)
DoubleParking(s)
50Picture(s)
4,400Sqft
Royal LePage Atlantic(Stellarton)
C$629123

Residential For Sale

258 Faulkland Street, Pictou Ns B0k 1h0
6Bedroom(s)
4Bathroom(s)
DoubleParking(s)
4,400Sqft
Royal LePage Atlantic(Stellarton)
Discover the timeless elegance of this Grand Century Home, built in 1853 and nestled on a generous corner lot in the historic town of Pictou. This distinguished residence features a circular concrete driveway and an additional driveway off Prince Street, providing ample parking options.
C$629123

Residential For Sale

258 Faulkland Street, Pictou Ns B0k 1h0
Royal LePage Atlantic(Stellarton)
6Bedroom(s)
4Bathroom(s)
C$629123

Residential For Sale

38 School Street, Shelburne Ns B0t 1w0

3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
50Picture(s)
2,130Sqft
RE/MAX Nova
C$544500

Residential For Sale

38 School Street, Shelburne Ns B0t 1w0
3Bedroom(s)
2Bathroom(s)
DoubleParking(s)
2,130Sqft
RE/MAX Nova
Welcome to 38 School Street, a gem of a home nestled in the charming community of Sandy Point on Nova Scotia's picturesque South Shore. This immaculate home, situated on a generous double lot, offers the perfect blend of modern convenience and serene coastal living.
C$544500

Residential For Sale

38 School Street, Shelburne Ns B0t 1w0
RE/MAX Nova
3Bedroom(s)
2Bathroom(s)
C$544500

Residential For Sale

343 Peter Dugas Road, Meteghan Ns B0w 2j0

4Bedroom(s)
2Bathroom(s)
DetachedParking(s)
28Picture(s)
1,675Sqft
Engel & Volkers (Yarmouth)
C$399000

Residential For Sale

343 Peter Dugas Road, Meteghan Ns B0w 2j0
4Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,675Sqft
Engel & Volkers (Yarmouth)
Welcome to your new home! This stunning two-story, four-bedroom residence offers the perfect blend of comfort and style. Situated near local amenities and an elementary school, this home is ideal for families. Step inside to discover spacious bedrooms with ample storage, including a luxurious primary suite with a private balcony and his and her closets.
C$399000

Residential For Sale

343 Peter Dugas Road, Meteghan Ns B0w 2j0
Engel & Volkers (Yarmouth)
4Bedroom(s)
2Bathroom(s)
C$399000

Residential For Sale

11900 Ns-4, West Havre Boucher Ns B0h 1p0

2Bedroom(s)
1Bathroom(s)
DoubleParking(s)
12Picture(s)
882Sqft
PG Direct Realty Ltd.
C$315000

Residential For Sale

11900 Ns-4, West Havre Boucher Ns B0h 1p0
2Bedroom(s)
1Bathroom(s)
DoubleParking(s)
882Sqft
PG Direct Realty Ltd.
Visit REALTOR website for additional information. Located in West Havre Boucher, this cozy bungalow offers a quiet country setting with easy highway access. Just 20 minutes to Antigonish and 5 minutes to the Canso Causeway, it’s close to schools, beaches, stores, and more. The property includes a large detached garage and a mostly finished basement with a bedroom and extra storage.
C$315000

Residential For Sale

11900 Ns-4, West Havre Boucher Ns B0h 1p0
PG Direct Realty Ltd.
2Bedroom(s)
1Bathroom(s)
C$315000

Residential For Sale

25 North Road, Charlos Cove Ns B0h 1t0

3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
45Picture(s)
1,335Sqft
Viewpoint Realty Services Inc.(Antigonish)
C$349000

Residential For Sale

25 North Road, Charlos Cove Ns B0h 1t0
3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
1,335Sqft
Viewpoint Realty Services Inc.(Antigonish)
Well maintained, Contemporary style home with outstanding views of Charlos Cove! This lovely 3 BR/2 Bath home sits house on 2.9 acres of land with a detached garage. The home was custom designed to provide maximum views with an open concept kitchen/dining area that opens to the living room with wood burning fireplace! Lots of windows to allow light and views in every direction.
C$349000

Residential For Sale

25 North Road, Charlos Cove Ns B0h 1t0
Viewpoint Realty Services Inc.(Antigonish)
3Bedroom(s)
2Bathroom(s)
C$349000

Residential For Sale

9684 St.peters Fourchu Road, Fourchu Ns B2j 1a5

4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
50Picture(s)
1,728Sqft
Cape Breton Realty
C$499900

Residential For Sale

9684 St.peters Fourchu Road, Fourchu Ns B2j 1a5
4Bedroom(s)
2Bathroom(s)
DoubleParking(s)
1,728Sqft
Cape Breton Realty
Welcome to one of Fourchu’s oldest and most historic treasure, built 170 years ago#Oceanfrontliving on a breathtaking seven-acre property with nearly 2000 feet of shoreline in Fourchu Harbour, #CapeBretonreale. This home offers unparalleled views and timeless charm. Located at the end of a public road, this property provides ultimate privacy and tranquility.
C$499900

Residential For Sale

9684 St.peters Fourchu Road, Fourchu Ns B2j 1a5
Cape Breton Realty
4Bedroom(s)
2Bathroom(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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