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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

193 Glen Road, Mclellans Brook, NS B2H 5C7

4Bedroom(s)
4Bathroom(s)
DoubleParking(s)
50Picture(s)
2,618Sqft
RE/MAX Nova (Halifax)
C$599900

Residential For Sale

193 Glen Road, Mclellans Brook, NS B2H 5C7
4Bedroom(s)
4Bathroom(s)
DoubleParking(s)
2,618Sqft
RE/MAX Nova (Halifax)
Here is the perfect dream home for your family. Situated in an upscale rural neighbourhood just 5 minutes from New Glasgow, this property is rare and ideal for multi-generational living. Featuring 4 generously sized bedrooms and 4 updated bathrooms, with 2 luxurious ensuites, fresh paint throughout AND new appliances in 2021.
C$599900

Residential For Sale

193 Glen Road, Mclellans Brook, NS B2H 5C7
RE/MAX Nova (Halifax)
4Bedroom(s)
4Bathroom(s)
C$599900

Residential For Sale

90 Concord Avenue, Fall River, NS B2T 1E7

3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
29Picture(s)
2,085Sqft
Viewpoint Realty Services Inc.
C$549900

Residential For Sale

90 Concord Avenue, Fall River, NS B2T 1E7
3Bedroom(s)
2Bathroom(s)
DetachedParking(s)
2,085Sqft
Viewpoint Realty Services Inc.
Welcome to this charming 3-bedroom, 1.5-bath chalet-style home nestled in the heart of Fall River Village. Set on a large private lot surrounded by mature trees and natural landscaping, this property offers both tranquility and convenience, just moments from all local amenities.
C$549900

Residential For Sale

90 Concord Avenue, Fall River, NS B2T 1E7
Viewpoint Realty Services Inc.
3Bedroom(s)
2Bathroom(s)
C$549900

Residential For Sale

359 Granville Street, Bridgetown, NS B0S 1C0

3Bedroom(s)
1Bathroom(s)
SingleParking(s)
43Picture(s)
2,220Sqft
RE/MAX Banner Real Estate
C$475000

Residential For Sale

359 Granville Street, Bridgetown, NS B0S 1C0
3Bedroom(s)
1Bathroom(s)
SingleParking(s)
2,220Sqft
RE/MAX Banner Real Estate
Welcome to this beautifully maintained, character-filled family home in the heart of Bridgetown. Overflowing with warmth and charm, this spacious residence seamlessly blends timeless craftsmanship, like hardwood floors and original tin ceilings, with thoughtful modern updates.
C$475000

Residential For Sale

359 Granville Street, Bridgetown, NS B0S 1C0
RE/MAX Banner Real Estate
3Bedroom(s)
1Bathroom(s)
C$475000

Residential For Sale

135 West River Road, Pictou, NS B0K 1H0

3Bedroom(s)
1Bathroom(s)
DetachedParking(s)
50Picture(s)
892Sqft
RE/MAX Nova
C$399000

Residential For Sale

135 West River Road, Pictou, NS B0K 1H0
3Bedroom(s)
1Bathroom(s)
DetachedParking(s)
892Sqft
RE/MAX Nova
Behind a full privacy fence, this exceptional home offers comfort, function and style nestled in beautiful Pictou. Every inch has been thoughtfully upgraded. The home offers a poured foundation, metal roof and upgraded electrical for total peace of mind. Inside, enjoy a modern kitchen with new appliances (fridge, stove, rangehood, microwave, DW).
C$399000

Residential For Sale

135 West River Road, Pictou, NS B0K 1H0
RE/MAX Nova
3Bedroom(s)
1Bathroom(s)
C$399000

Residential For Sale

100 Murphy Lake Road, Murphy Lake, NS B4N 3V8

3Bedroom(s)
3Bathroom(s)
AttachedParking(s)
44Picture(s)
2,847Sqft
MacKay Real Estate Ltd.
C$1390000

Residential For Sale

100 Murphy Lake Road, Murphy Lake, NS B4N 3V8
3Bedroom(s)
3Bathroom(s)
AttachedParking(s)
2,847Sqft
MacKay Real Estate Ltd.
Discover your own lakeside paradise at 100 Murphy Lake Road tucked away on a private peninsula with over 1,400 feet of lakefront on three sides. This home is designed for ultimate privacy and year-round enjoyment, offering breathtaking lake views from nearly every room. The property features a spacious two-bedroom home with an office/den, bonus room, and room to expand.
C$1390000

Residential For Sale

100 Murphy Lake Road, Murphy Lake, NS B4N 3V8
MacKay Real Estate Ltd.
3Bedroom(s)
3Bathroom(s)
C$1390000

Residential For Sale

24 Chapel Street, Annapolis Royal, NS B0S 1A0

3Bedroom(s)
2Bathroom(s)
GravelParking(s)
43Picture(s)
1,700Sqft
Engel & Volkers (Annapolis Royal)
C$575000

Residential For Sale

24 Chapel Street, Annapolis Royal, NS B0S 1A0
3Bedroom(s)
2Bathroom(s)
GravelParking(s)
1,700Sqft
Engel & Volkers (Annapolis Royal)
This beautifully crafted custom home, has been thoughtfully designed to complement the historic charm of Annapolis Royal. Constructed in 2011 with ICF construction, (Insulated Concrete Forms), this energy-efficient home boasts high-quality materials and a comfortable, traditional layout.
C$575000

Residential For Sale

24 Chapel Street, Annapolis Royal, NS B0S 1A0
Engel & Volkers (Annapolis Royal)
3Bedroom(s)
2Bathroom(s)
C$575000

Residential For Sale

70 Chestnut Street, Pictou, NS B0K 1H0

2Bedroom(s)
1Bathroom(s)
DoubleParking(s)
24Picture(s)
983Sqft
Blinkhorn Real Estate Ltd.
C$199900

Residential For Sale

70 Chestnut Street, Pictou, NS B0K 1H0
2Bedroom(s)
1Bathroom(s)
DoubleParking(s)
983Sqft
Blinkhorn Real Estate Ltd.
Charming and well-maintained, this delightful home sits proudly on a corner lot in the historic town of Pictou. Offering great curb appeal with its beautifully landscaped yard and paved driveway, the property welcomes you with a sense of pride in ownership throughout. Inside, you'll find a bright and cozy layout, with two bedrooms and a full bathroom that was tastefully renovated just last year.
C$199900

Residential For Sale

70 Chestnut Street, Pictou, NS B0K 1H0
Blinkhorn Real Estate Ltd.
2Bedroom(s)
1Bathroom(s)
C$199900

Residential For Sale

Helmsley Crescent Lot 409, Elmsdale, NS B2S 0H4

3Bedroom(s)
2Bathroom(s)
No GarageParking(s)
1Picture(s)
1,200Sqft
Keller Williams Select Realty
C$328900

Residential For Sale

Helmsley Crescent Lot 409, Elmsdale, NS B2S 0H4
3Bedroom(s)
2Bathroom(s)
No GarageParking(s)
1,200Sqft
Keller Williams Select Realty
Discover the perfect blend of comfort, functionality, and modern charm in this beautifully designed 3-bedroom, 2-bathroom, brand new home, ideally located in Castle Grove Estates. Step inside to a welcoming foyer that leads to a spacious mudroom and laundry area—both practical and perfectly suited for busy, everyday living.
C$328900

Residential For Sale

Helmsley Crescent Lot 409, Elmsdale, NS B2S 0H4
Keller Williams Select Realty
3Bedroom(s)
2Bathroom(s)
C$328900

Residential For Sale

637 White Rock Road, Canaan, NS B4N 4K1

4Bedroom(s)
2Bathroom(s)
GravelParking(s)
47Picture(s)
2,240Sqft
MacKay Real Estate Ltd.
C$699000

Residential For Sale

637 White Rock Road, Canaan, NS B4N 4K1
4Bedroom(s)
2Bathroom(s)
GravelParking(s)
2,240Sqft
MacKay Real Estate Ltd.
Welcome to 637 White Rock Road, a picturesque south facing 4.3 acre property that is perfectly suited as a hobby farm or horse lover's paradise! This beautiful two story home features an open concept main level including a gorgeous kitchen complete with pantry, large dining room, a cozy living room with a fireplace masonry heater, a large den/office area, and a full bath with laundry facilities.
C$699000

Residential For Sale

637 White Rock Road, Canaan, NS B4N 4K1
MacKay Real Estate Ltd.
4Bedroom(s)
2Bathroom(s)
C$699000

Residential For Sale

45227 Cabot Trail Highway, North Shore, NS B0C 1H0

3Bedroom(s)
4Bathroom(s)
DoubleParking(s)
50Picture(s)
3,200Sqft
EXP Realty of Canada Inc.
C$1995000

Residential For Sale

45227 Cabot Trail Highway, North Shore, NS B0C 1H0
3Bedroom(s)
4Bathroom(s)
DoubleParking(s)
3,200Sqft
EXP Realty of Canada Inc.
The Sea Parrot Oceanview Manor awaits! This stunning oceanfront resort offers 362 ft of accessible waterfront on 7.68 private acres along the world-renowned Cabot Trail in Cape Breton, Nova Scotia. Ideally located on popular tourist route near top golf destinations like Highland Links, Cabot Links, and Cabot Shores, and close to the revitalized Cape Smokey Ski Resort.
C$1995000

Residential For Sale

45227 Cabot Trail Highway, North Shore, NS B0C 1H0
EXP Realty of Canada Inc.
3Bedroom(s)
4Bathroom(s)
C$1995000

Residential For Sale

28 Karen Crescent, Porters Lake, NS B3E 1K3

3Bedroom(s)
1Bathroom(s)
GravelParking(s)
50Picture(s)
1,814Sqft
One Percent Realty East Inc.
C$419500

Residential For Sale

28 Karen Crescent, Porters Lake, NS B3E 1K3
3Bedroom(s)
1Bathroom(s)
GravelParking(s)
1,814Sqft
One Percent Realty East Inc.
Charming Split-Entry Home in the Heart of Porters Lake. Welcome to this inviting three-bedroom, one-bath split-entry home, perfectly situated in the peaceful and family-friendly community of Porters Lake. Just minutes from the highway exit, you will enjoy the best of both worlds with easy access to Dartmouth’s amenities and the calm, natural beauty of lakeside living.
C$419500

Residential For Sale

28 Karen Crescent, Porters Lake, NS B3E 1K3
One Percent Realty East Inc.
3Bedroom(s)
1Bathroom(s)
C$419500

Residential For Sale

26 Highway 336, Newton Mills, NS B0N 2P0

1Bedroom(s)
1Bathroom(s)
DetachedParking(s)
39Picture(s)
560Sqft
Royal LePage Truro Real Estate
C$109500

Residential For Sale

26 Highway 336, Newton Mills, NS B0N 2P0
1Bedroom(s)
1Bathroom(s)
DetachedParking(s)
560Sqft
Royal LePage Truro Real Estate
Escape to this cozy country cottage set on over an acre of peaceful, private land. Perfect for nature lovers or those seeking a quiet getaway, this property offers space, charm and flexibility. Cottage: ready for finishing touches. Land: over an acre of open and treed space, plenty of room for gardens, pets, hobby farm or future development.
C$109500

Residential For Sale

26 Highway 336, Newton Mills, NS B0N 2P0
Royal LePage Truro Real Estate
1Bedroom(s)
1Bathroom(s)
C$109500
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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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