Cocoa Beach Real Estate Values


5 Steps To Sell Your Cocoa Beach Home


Selling your Cocoa Beach home is a process that involves five basic steps. These steps are Preparing the Home for Sale, Finding a Buyer, Qualifying the Buyer, Negotiating the Terms, Handling all the Details needed to finalize the sale. If you list your home your real estate agent takes responsibility for each step. If you sell on your own, it is your responsibility to complete each step.

Cocoa Beach Real Estate...Homeowners Insurance


Cocoa Beach real estate Insurance costs can vary by hundreds of dollars depending on the insurance company from which you buy your policy. There are different types of policies that differ in the amount of coverage they provide. The most popular type is called HO-3. This kind of policy offers Area property protection and liability insurance. Cocoa Beach real estate or property protection means that you will be reimbursed for losses or damages to the house and its contents. Liability Insurance protects you against personal liability, medical payments for injuries to others and damage to other people’s property. There are policies with more extensive coverage and are usually called “deluxe” or “executive” policies. If you do major remodeling to your home, make sure you upgrade your coverage. If you have an office in your home, you might want to consider special insurance for your computer equipment.

Cocoa Beach HOME BUYING MORTGAGE PITFALLS TO AVOID


ALL MORTGAGES ARE NOT ALIKE. There are far too many variables—type of mortgage, term, lender and amount of points to mention a few—not to investigate all of your options in Cocoa Beach. Don’t simply accept the first plan presented to you, whether it is from a mortgage broker, an agent or on the recommendation of a friend. Spend time comparing to get the best plan for you.

HOME INSPECTION – A MUST. If you should ever think about skipping the Cocoa Beach home inspection in order to save money, stop and give yourself a good shaking. In the scheme of things, the Home Inspection fee is small potatoes but it is a very important step for any buyer to take. Going without a Home Inspection or choosing an unqualified inspector puts you at risk for not knowing about potentially expensive or even hazardous defects in the property.

Bitten by the Cocoa Beach Home Improvement Bug?


Before you finalize your decision regarding remodeling versus moving, it is wise to get a professional estimate of your Cocoa Beach home’s current value, the actual costs of moving to a different home and the estimated return on investment of the most common types of home improvement. I’ll be happy to provide you with a complimentary analysis of your home’s current value. Simply call or E-mail me whenever you are ready. As for improvements that traditionally bring the highest rate of return on investment, here are some statistics. Kitchen remodeling and adding a bath tends to bring rates of return with averaging anywhere from 85% to 95% return on your dollars spent. Compare that with the 64% return on investment for adding a home office.

Rent or Buy Cocoa Beach


In the early years of your Cocoa Beach mortgage, nearly all of every monthly payment is interest. This means you are only paying off a tiny bit of the loan principal, but it is good news in terms of tax savings.

The monthly payment for a $100,000, 30-year, 8% mortgage on your Cocoa Beach would be about $734. In the first year of your mortgage, $7,970 of your $8,805 payment or 91% would be deductible as mortgage interest. Even in the tenth year, almost 81% of your payments would be deductible. What this is worth to you depends on your tax bracket but this tax savings built into the home-buying equation is why you can afford to make higher mortgage payments than your current rent payments without squeezing your budget. There is no similar tax subsidy for renters.


Cocoa Beach BASICS


Location, location, location pretty much describes the basics of all real estate markets and the Cocoa Beach market is no exception. A lovely estate home next door to a power plant or on a hill where major sliding has occurred is not as valuable as that same home in a quiet, tree-lined neighborhood. This is why most astute buyers tend to rely on real estate agents who are well versed in the community and know the area well.

Robin Taylor Ritchie
Broker Associate
GRI, ABR, e-Pro

Licensed Real Estate Broker in the State of Florida

Titusville, FL 32780
321-698-8731