Tips for Selling Cocoa Beach Homes


Cocoa Beach Home Buying Pitfalls


Buying your Cocoa Beach home whether you are a first time buyer or an ‘Old Pro’ involves legal, financial and emotional considerations. The more you know about the most common buyer mistakes in Cocoa Beach, the more likely you are to avoid them.

Make sure that when you put in an offer on any Cocoa Beach home that you have spent time narrowing down just what you are looking for. When the sellers accept your offer, you are involved in a binding contract that could cost you your deposit and other damages should you decide to back out. The opposite scenario, waiting for the 100 % perfect home can be an exercise in futility. With the thousands of variables available in housing, including location, style, size, amenities and condition, perfection is almost always an unreasonable goal.


Cocoa Beach Homebuyers Quandry


Armed with the Comparative Marketing Analysis, it is time to approach your lender to see if you can get financing without selling your current Cocoa Beach. In most cases, financing will be contingent upon selling your home but you may be able to obtain interim financing sometimes known as a Bridge Loan.



Building Cocoa Beach Home Equity


As a Cocoa Beach homeowner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in Cocoa Beach home equity, you gain $3,600.00.

The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your home loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your Cocoa Beach home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about Cocoa Beach home appreciation values in your area, please call or E-mail me today.



Buying a Cocoa Beach Fixer-Upper


This, of course, depends on the condition of the Cocoa Beach home and the estimated cost of the repairs you must make. Cocoa Beach real estate in a good neighborhood that is priced about 25% lower than others that are in good shape may be a good deal if it simply needs cosmetic or minor structural repairs. If the house is a gut job, that is the entire inside will be torn out and rebuilt the 25% rule may work and may not so estimate your costs as closely as possible.

Shopping by neighborhood makes good sense when considering the purchase of a fixer upper. As a buyer, the more you know about the Cocoa Beach homes in a particular area the better able you are when it comes time to judge whether or not a home your are considering meets the financial parameters you are looking for.


Cocoa Beach BARGAINS


A bargain exists in the mind of a buyer when entering into an agreement to exchange goods when the buyer thinks the price is favorable. Bargains can always be found in the Cocoa Beach market if a buyer is patient and willing to wait for a truly motivated seller. In economic downturns many people believe that foreclosures and short sales are automatically bargains when, in fact, this may not be the case.



Cocoa Beach DEDUCTIONS


One of the advantages of home ownership is that while most other types of interest are not tax deductible, the interest you pay on your Cocoa Beach loan is deductible on your Federal and State income tax. This fact alone gives homeowners a distinct advantage over renters.

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

Licensed Real Estate Broker in the State of Florida

Titusville, FL 32780
321-698-8731