Buying – Leighton Team | Condo Sales and Vacation Rentals at Ocean Edge

6 To-Do’s Before You Move Into Your Ocean Edge Condo

Buying your very own Ocean Edge condo is an exciting experience. All of the time and effort you put into preparing yourself to buy a property of your own has finally paid off. So celebrate your accomplishment, but before you relax and settle into your new space, there are some things that you need to do first. Here is our list of the 6 to-do’s when you move into your Ocean Edge condo.

Change Those Locks

Your first stop before you arrive at your new home should be the hardware store to pick up new locks for your doors. Before you spend the night and move into your Ocean Edge condo, you should change the locks. The former owner of your home brought their keys for you, but there could be more copies of your key out there. If the property was used as a seasonal rental, who knows how many people have a copy of the key to your new home in their possession. Instead of taking the risk, give yourself piece of mind and change the locks on the doors. Changing the locks is easy enough that almost anyone could do it themselves. Check the package of the locks you are purchasing to make sure that you have the tools necessary to do the job so you do not have to make multiple trips to the hardware store (without a lock on your door!).

Ditch the Popcorn

Popcorn is great for movie nights, but it should never be on your ceiling. Popcorn ceilings got their start in the 1950’s hiding imperfect ceilings in homes throughout the country. Fortunately, popcorn ceilings are easy enough to fix that most people are able to fix on their own without hiring a handyman (or woman). Here are the three easy steps you need to do in order to remove that terrible popcorn ceiling and bring it up to date. Always remember to wear safety masks and eye wear when performing this do it yourself project! First, scrape the popcorn off of the ceiling. Next you need to cover the ceiling with drywall. Once the drywall is up, use plaster to create a new and smoother texture. For more tips on how to update your property, check out our blog “Find Your Bargain Ocean Edge Condo By Looking Beyond The Seller’s Odd Choices.”

Give the Walls a Makeover

When you first laid eyes on your home during the open house or private showing, you may have visualized painting the rooms in the home different colors to make it feel more your own. Before you move into your Ocean Edge condo, do yourself a favor and tackle the painting projects ahead of time. So often home owners have a vision of what they want their home to look like, have every intention of doing it in a reasonable amount of time, but then life gets in the way. If you have the ability to make your home exactly the way you want it before moving in, do it! Give the walls a makeover and make yourself at home. If you are planning to replace the flooring, remember to do the painting before you replace the floors. This is key because if you splatter paint on the old floors, it is not a problem. If you wait until after replacing the floors, you will have to be extra careful to not spill and ruin the new floor.

Check the Flooring

Replace the flooring before you move into your Ocean Edge condo to save yourself the trouble of moving your furniture in and then out down the road. Completing big projects, such as replacing the flooring while the house is empty saves yourself the headache of trying to figure out how to make it happen once you have already moved in. Even if the floors do not need a total overhaul or replacement, it is a good idea to have any floor work done before moving in. Whether you plan on resealing your floors, buffing them or even just steam cleaning your carpets, it is easier to do so before you are settled in your new home.

If It’s Broke, Fix It

Before you move into your Ocean Edge condo, you might have an idea of certain things that need your attention and repair. Make a list of things that need to be fixed in your home and prioritize what needs your attention right away and what can wait a little while. For example, a leak in your plumbing should be addressed sooner than later. A leak does not get better with time, it can only get worse and more costly to fix. A cracked baseboard would be lower on the list of necessary repairs, but should be on a to do list so that it is addressed at some point once the other necessary repairs have been completed. Storage problem in your Ocean Edge condo? Check out our blog, “5 Ways to Maximize Your Storage Space.”

Kid Friendly

If you have children or a small furry dog child, make sure that your new home is safe for them before you move into your Ocean Edge condo. Childproofing your home before you and your little ones move in is so important because you are all learning your new property. There could be an electrical outlet you were not aware of, or sharp corner that could hurt your little ones. If your little one is of the four legged furry variety, make sure that any carpeting you have in the home is not coming up in a corner. A carpet coming undone in the corner could be appealing to them, and could cause some digestive problems, and destruction to your new home. Before you settle your family into your Ocean Edge condo, do a run through with a sharp eye to make sure that it is ready for your family.

Move Into Your Ocean Edge Condo

Before you move into your Ocean Edge condo, make sure it is ready for you! Buying a home of your own is a huge accomplishment and a milestone that many Americans strive for. Make sure that your home is ready for your lifestyle so that you can begin your life in your new place on the right foot. Moving in to your new home is an exciting time, so take it in and celebrate your accomplishment, then get to work!

July 8, 2017/by Leighton Team

Buying

5 Tips to Prepare Yourself Financially to Buy Your Ocean Edge Condo

Purchasing a home is a huge financial commitment, how do you know if you are ready? There are a number of factors to take into consideration when you are thinking of buying a home. You need to prepare yourself mentally, physically and financially. Mentally you need to get yourself ready for the amount of responsibility that comes along with owning your very own condo. Physically, you will find yourself doing a lot of projects around your new home that you have never done before to save yourself the money of hiring someone else to do it. It’s time to roll up your sleeves and get your hands dirty! Financially, you need to make sure that you are able to pay your mortgage on time along with your other expenses. How do you make sure you are financially ready to handle purchasing a home? Here are our 5 tips to prepare yourself financially to buy your Ocean Edge condo.

Create a Budget

Buying a condo comes with a lot of set expenses. You have your condo fees and your mortgage that unless you have a variable rate mortgage, should be set expenses. In addition to these set expenses, you also have expenses that are associated with your new home that typically stay the same but fluctuate. These expenses are your gas, electric, cable and other utilities for your home. These are all new expenses that need to be accounted for in addition to the expenses that you currently have to pay every month. Your current expenses include your car payment, student loans and credit cards. Creating a budget for yourself is the only way you can set yourself up financially to buy your Ocean Edge condo. Budgeting for a down payment can be tricky. Check out our blog, “How to Save for a Down Payment on an Ocean Edge Condo” for tips on how to put aside some money to make your purchase.

Pay Off Your Debt

Paying off your debt before you buy your Ocean Edge condo takes care of two birds with one stone. Eliminating debt will give you more money in your budget for non essential items such as splurging on some fun or updating your Ocean Edge condo. Paying off your debt also helps you boost your credit score so that you can get a better mortgage product when you meet with a lender for a loan to purchase your home. The higher your credit score, the lower your interest on your loan, which means you will pay less every month. Want to learn more about how your credit score impacts your ability to purchase a home? Check out our blog, “Clean Up Credit Score Before You Buy.”

Look at Your Spending Habits

In order to create a true budget, you need to take an honest look at your spending habits. With mobile banking and credit card apps, it is easy to take a look at your spending to see where most of your money goes. This will give you an idea of where your money is going that you might not be aware of. Your findings when going through your financial statements may surprise you! You may have only budgeted $75 per month to fun, which could be going out to dinner or going to the movies, but when you check your statements you may find that you pay 3 to 4 times that amount per month. Looking at your actual spending habits will help you create your budget so you have a more realistic idea of where your money is going and what you can do to cut down these expenses so you can buy your Ocean Edge condo.

Make Some More Money

It may not seem like it is possible to do more than you already do now, but you may be surprised. Saying yes to a couple extra shifts at work, or a couple of overtime hours will make a difference in your overall budget. If your job does not offer overtime, picking up a part time job could be the answer. Serving or hostessing in a restaurant a couple hours a week can line your wallet with a little extra cash so you are not living paycheck to paycheck. It can also help you save up the money that you will need for a down payment to buy your Ocean Edge condo. Take advantage of living on Cape Cod in the summer time and see if you can find a part time job that fits your current schedule to make a little extra money.

Save Your Money

Once you have decided that home ownership is your ultimate goal, you need to start saving your money. When buying your home, you need to have money for a down payment. This amount varies depending on the type of mortgage product you will be eligible for. A down payment is one of the expenses you will be expected to come up with when closing on your condo. For more information on what expenses you are expected to come up with at the closing of your home, check out our blog “Hidden Costs of Buying a Home.” The down payment is not the only cost you can expect to have to pay up front at closing, so it is best to be prepared. Closing on your home can be stressful, and it can have its issues which could cause delays when purchasing your home. Check out our blog, “5 Closing Day Problems and How to Fix Them,” so you can see what could potentially go wrong and how to deal with it. Knowing the worst case scenerio can help you prepare so it doesn’t happen to you and you could get into your condo sooner!

Prepare Yourself Financially to Buy Your Ocean Edge Condo

Preparing yourself financially to buy your Ocean Edge condo is essential in setting yourself up for success as a homeowner. For more tips on how to get ready to make the transition from renter to homeowner, check out our blog, “Renter to Homeowner – How to Make the Leap.”

June 26, 2017/by Leighton Team

Buying

How to Buy Your Ocean Edge Condo After Bankruptcy

Bankruptcy can feel like a dirty little secret that no one wants to talk about because there was a social stigma associated with it. However, life does go on after bankruptcy. Approximately 800,000 people every year have to file for bankruptcy for one reason or another, so it is not as uncommon as one might imagine. At one time, a person that had to file for bankruptcy was thought of as a person that was irresponsible with their spending, and deserved to have to file. The Great Recession opened a lot of peoples eyes to the reasons that people file for bankruptcy, and eased the stigma of bankruptcy.

If you have found yourself in this situation, you may be wondering how long you have to wait before you can buy your Ocean Edge condo after bankruptcy. Although filing for bankruptcy may put a hold on purchasing your Ocean Edge condo, it doesn’t have to stop you from your dream of owning your own condo for long. Here is our guide to the different types of bankruptcy and how soon you can go ahead and purchase a property again.

Types of Bankruptcy

What is bankruptcy? Bankruptcy is an option for many people for a variety of reasons. Filing for bankruptcy can be a way for someone to eliminate a person’s debts entirely or a way for a person to set up a plan to pay off their debts. There are some types of bankruptcy that are easier to recover from than others. Chapter 13 and Chapter 7 are the two most common personal bankruptcy types. Chapter 7 eliminates all of your debt, while Chapter 13 means that you need to repay your debt that has accumulated within a period of time (usually 3 to 5 years).

Since Chapter 7 eliminates your debt, leaving you with a clean slate, it is easier to recover from and you will be able to get a mortgage quicker than with Chapter 13. With Chapter 7, your income to debt ratio is appealing because there is no debt, which is appealing to a bank or mortgage lender. In order to get a FHA loan before you are finished paying off your debt with a Chapter 13 loan, you could apply for a FHA loan if you meet one of two criteria. Either 12 months of payments must be made towards your plan or the court approves your request to purchase a house with a FHA loan.

Debt and Credit

Filing for bankruptcy will put a dent in your credit score, there’s no way of getting around it. Typically when a person files for bankruptcy, they will find themselves with a credit score of about 607. Since you will then have a less than desirable credit score for a mortgage, the interest rate you are charged will be higher than the rate for a borrower with a higher credit score if you do get a mortgage product. A higher interest rate means paying more money per month towards your mortgage, which is not going towards paying off your Ocean Edge condo.

How do you fix your credit score so that you can get a lower interest rate so you can purchase your Ocean Edge condo after bankruptcy? The only way you can fix your credit score after bankruptcy is by building up your credit the old fashioned way. Open a credit card and start building your credit by making on time payments on the card. Be responsible with your spending and set little reminders so that bills are not missed, but paid on time or a little early. For more tips on how to build up your credit score, check out our blog, “Credit Score in the Toilet? Fix it before You Buy Your Ocean Edge Condo.”

When Can You Buy Your Condo

Figuring out when the clock officially starts on your bankruptcy can be confusing. You want to know when you can put this behind you, and finally purchase your Ocean Edge Condo after bankruptcy. Some people believe that it starts when you initially file your paperwork and others believe that it is the discharge date. What do you believe? What date do lenders look at when you are trying to buy a home of your own? The answer is that the discharge date is the date that is important, not the bankruptcy filing date. Although there is no definite waiting period, you can expect to have to wait about a year and a half to two years before applying for a mortgage after bankruptcy.

Different lenders and loan products require different waiting periods before you are eligible for a mortgage. USDA Rural Development products require Chapter 7 filers to wait three years after discharge, and only one year for Chapter 13. VA (Veterans Administration) and FHA loan products typically require two years after discharge, but you could have to wait up to four years to be eligible for a conventional mortgage after bankruptcy discharge. Although this can feel like a long time to wait to buy your Ocean Edge condo after bankruptcy, you should use this time wisely and build up your credit. Building up your credit will help you when you are able to purchase your condo after bankruptcy.

How to Purchase Your Ocean Edge Condo After Bankruptcy

Filing for bankruptcy can be a blow to your credit score and ability to get a mortgage for some time, but it should not be a blow to your ego. So many Americans find themselves in the position of having to file for bankruptcy, as we saw in the Great Recession and it is nothing to be ashamed of. Take the time that is required before you are able to purchase your dream condo to build back up your credit and savings, before purchasing your home. Taking care of your affairs during your waiting period will set you up for success when you do purchase your Ocean Edge condo after bankruptcy. Contact the professionals at Leighton Realty when you are ready to buy your Ocean Edge condo after bankruptcy. Michael Leighton has been the #1 Agent at Ocean Edge since 2004 and the #1 Agent for Brewster since 2007.

June 15, 2017/by Leighton Team

Buying

Credit Score in the Toilet? Fix It Before You Buy Your Ocean Edge Condo.

If you’re thinking of buying your Ocean Edge condo, make sure you do your homework and check your credit score. So many people do not know their credit score, or how important it is in determining your ability to purchase a home. If you do check your credit score and it is low, what can you do? There is no need to worry if you check your score and it is low. There are many ways that you can fix your credit score before you buy your Ocean Edge condo. However, you do need to work quickly because it can take time to correct credit issues. Here is how you can fix your credit score before you buy your Ocean Edge condo!

What is Your Credit Score?

Your credit score is a number that can range from 300 to 850. A score of 300 is the worst score you could get, and 850 is excellent which is the best score you could possibly get. Typically people have “Good” or “Very Good” credit, it takes discipline and work to get an “Excellent” credit score. The work involved in maintaining and increasing your credit score is monitoring it regularly and making sure that you are on top of your finances.

Sometimes information will be given to the credit bureaus that is false, so if you find information on your report that is not true, you need to correct it as soon as possible. Taking care of this incorrect information will help to fix your credit score before you buy your Ocean Edge condo. Foreclosures and bankruptcy are two of the major factors that will severely impact your credit score. It takes time to bring up your credit score when you have one of those issues on your financial history. Smaller issues such as unpaid bills or being late paying your bills also add up and can really lower your credit score. What other factors go into buying a home? Check out our blog, “Top 6 Home Buying Questions – Answered.”

Where Does Your Credit Score Come From?

The credit score comes from a variety of sources. It is developed from information obtained from a number of sources of credit given to you by different agencies. For example, credit card companies, car loan agencies and banks are all types of agencies that lend money to you on credit. This money is lent to you with the understanding that you would pay it back in addition to an interest fee that is charged for lending the money to you in the first place.

This line of credit will be used to judge your ability to pay back money that is lent to you. Your credit score is similar to your grade point average in school, but for borrowing and paying back money. A person’s GPA (or grade point average) was a vital tool in determining what type of college you will be eligible for, and your credit score is a vital tool in determining what type of mortgage you will be eligible for to purchase your Ocean Edge condo. This credit score is then reported to the big three credit bureaus, Experian, TransUnion and Equifax who manage this information.

How Do You Fix Your Credit Score?

So you checked your credit score, and it is not high enough to get you the mortgage that you need for your dream condo at Ocean Edge. What should you do now? The first step is taking a look at your credit score. Are there cards or lines of credit still open that you have closed? Was a payment you made misreported as delinquent? If you spot a mistake on your credit report, take care of it right away. It can take time to disappear from your credit report, so the sooner the better. A mistake on your credit report will stay with you, so it is important that you nip it in the bud and fix it. For more information on how to improve your credit score, check out our blog “Clean Up Credit Score Before You Buy”

Set reminders in your phone to remind you of when your bills are due so that you do not miss a payment. A lot of companies allow you to set up automatic payments so the money is automatically deducted from your checking account every month. The trick is remembering to have the money in that checking account for your payment to be made on time. It can be tempting to sign up for store credit cards because many of them offer a discount on purchases when you are checking out. However, applying a line of credit impacts your credit score. When a credit company or car dealership runs your credit to see if you qualify for their store credit card or if you qualify for a car loan, they make a hard inquiry on your credit. This hard inquiry knocks down your credit score, so before you have your credit run ask yourself if it’s really worth it.

How Do I Monitor My Credit?

Websites and apps such as Credit Karma or certain credit cards offer you free credit scores that you can check daily without impacting your credit score. Although websites such as Credit Karma are reliable, they are sometimes based on two out of three of the big credit companies reports on you so it is not always your exact score. Websites like those give you an idea of where your credit score is at, but you can request your complete credit score to know exactly where you are on the credit scale. Monitoring your credit will prevent you from having to fix your credit score before you buy your Ocean Edge condo, you will be ahead of the game.

Fix Your Credit Score Before You Buy Your Ocean Edge Condo

There are so many factors that go into buying a home, and your credit is a major one. The better your credit score, the better your chances of getting the mortgage you need to buy your Ocean Edge condo. Before you start the home buying process, do yourself a favor by checking your credit score so you can fix your credit score before you buy your Ocean Edge condo. Knowing your score will give you the upper hand because then if you do need to fix your credit, you have the time because it won’t happen overnight!

May 18, 2017/by Leighton Team

Buying

Buying Your Retirement Condo at Ocean Edge Before You Retire

It may seem early, but many people decide to buy a retirement condo 10 years before they actually retire. And what better place to retire than Ocean Edge! Ocean Edge is located in the town of Brewster, which is centrally located on Cape Cod. Since it is a condo, you do not have to take care of the grounds which is a huge bonus of condo living. In addition to the grounds maintenance, Ocean Edge has a number of appealing amenities available to owners that buy a club membership. There is an award winning golf course, swimming pools, fitness centers and much more. Check out our blog, “5 Reasons to Buy a Condo at Ocean Edge” to see why buying your retirement condo at Ocean Edge is a wise choice.

The small town feel of the Ocean Edge community of owners is another benefit of owning an Ocean Edge condo. Once you have made the decision of where you would like to retire, planning out the purchase of your property is the next step. It is never too soon to make this important decision. If you buy your retirement condo at Ocean Edge now before you retire, there are a number of benefits that you can take advantage of that would not be available to you if you decided to wait. Here are the reasons why you should buy a retirement condo at Ocean Edge now instead of waiting!

Mortgage Approval

When you are applying for a mortgage, as many people have to do when purchasing a property, your debt to income is assessed. It would be much easier to be approved for a mortgage while you are working verses when you have already retired and are no longer working. Your income to debt ratio is a big factor which would determine the size of the loan you would be eligible for. If you do not have reliable income, it can impact your ability to obtain a mortgage.

Another benefit of applying for that mortgage on your retirement condo at Ocean Edge is the ability to chip away at your loan before you stop working. The weight of a mortgage when retired is a big burden. Lessen your stress load by getting a head start on paying off your mortgage while you still have the reliable income coming in from your job instead of waiting. Things come up, and although your mortgage is a known expense that shouldn’t change during the life of your loan (unless you choose a variable rate mortgage), it is still an expense. If you can chip away at that mortgage, it is always in your best interest.

Fixing Up Your Retirement Property

When buying your retirement condo at Ocean Edge, you may have some renovations in mind. Now is the time when you’re working and have that income coming in to do these adjustments to the property so it is all ready for your retirement. If your condo has a spiral staircase, now would be the time to convert it to a straight staircase so it is easier to use as you get older. This will also save you the hassle of living through these renovations when you have retired. It is your second property, so you do not have to be there living in a construction site.

When you buy any property, you never know what you might uncover. Problems pop up from time to time, so you may as well find out now when you have the income coming in so that you can properly deal with any problems you might uncover. Plumbing issues, moisture issues, electrical or structural problems can all set you back significantly. If you are unable to pay to fix these issues out of pocket, at least you would be in a better position financially to secure a loan to cover the repairs when you have your job verses when you are not working.

Portfolio Boost

Owning a second home has its perks. You could use it for personal vacations, treat your family and friends or turn it into an income property! Renting your retirement condo at Ocean Edge could provide you with the money to take care of some of the burden of covering a second mortgage and the additional costs associated with owning that condo, or give you some extra pocket cash. If you are considering renting your retirement condo at Ocean Edge, check out our blog, “4 Reasons You Should Rent Your Home with a Cape Cod Rental Agency.” Renting your condo through an agency in the area such as Leighton Rentals will give you the stress free renting experience you want without the stress of managing the rental yourself.

Planning for the Long Term

Owning your retirement home before you retire gives you an idea of what your living expenses will be once you live in the home. If you do decide to rent out your condo while you are not living there, you will have an idea of what the utilities will come to because your tenants will be essentially living there as you will one day. Knowing your expenses before retirement is a huge advantage and will prepare you better for retired living.

Buying Your Retirement Condo at Ocean Edge

Proper planning for your retirement will ensure that you are living within your means and limit the amount of unknowns making the transition less stressful. The last thing you want is to have to pick up a part time job to cover your expenses once you finally retire. Purchasing your retirement condo at Ocean Edge now instead of waiting until after you retire will only set you up to succeed if you can afford to carry the two mortgages at the same time. If you are intimidated by the idea of carrying two mortgages, meet with Leighton Rentals to discuss the idea of renting your property while you are not using it. To find your perfect retirement condo at Ocean Edge, contact Leighton Realty. Michael Leighton has been the #1 Agent at Ocean Edge since 2004 and the #1 Agent in Brewster since 2007. Let Michael and his team help you find the perfect property for your retirement.

May 9, 2017/by Leighton Team

Buying

Find Your Bargain Ocean Edge Condo By Looking Beyond The Seller’s Odd Choices

Almost all buyers are looking for that turn key, ready to move in property when buying a home. Most home buyers do not have a desire to buy a property that needs work because they do not want to spend the money on having a professional do it or spend the time to do the work themselves. Little do they know that some properties might be worth the time checking out if they look beyond the seller’s odd choices, because they could find their bargain Ocean Edge condo by doing so. Sometimes it just takes a change of paint or moving a few things around to make a home more comfortable and suit your style. It’s important to keep in mind the big picture when shopping for a home.

If the layout is desirable, it is in the Ocean Edge village you would like to be in and the condo is in good structural shape, maybe you need to give it a chance. The Ocean Edge villages were all built around the same time, only a couple of years apart. Investing some time and a little money, you could find a real bargain Ocean Edge condo that will be perfect for you with some minor adjustments. Sometimes the seller is not really motivated to sell, or is too overwhelmed to make their home appealing to buyers. Try to see beyond the small issues with the property and look for the potential in the property to see if you can make the condo a home. There are bargain Ocean Edge condos put on the market once in a while. Check out our blog, “Find Your Ocean Edge Condo for Under $200,000” and see for yourself!

Old Carpets and Tired Walls

Typically, when a seller puts their home on the market, sellers do what they can to make their home more appealing to potential buyers. This could be replacing dirty old carpets or painting the walls a more neutral color if they had previously painted their walls more bold colors. However some sellers do not do this, leaving it to the buyer to change when they purchase the property. If you are skilled in minor home repair, have family or friends that are capable of changing out flooring, price out what it would cost you to buy these materials yourself and make the improvements you need to make the condo more desirable. This can be a negotiating factor when purchasing the property. However, if the home is the right price it may be worth making these improvements on your own and covering the expense if the seller is unwilling to move on price. This could still be your bargain Ocean Edge condo if you look at comparable units after making the renovations yourself.

Sometimes you can ask the seller to pay to replace tired flooring or to have the home painted a more neutral color. It is a good idea to ask your real estate agent when previewing a property if that is something that they feel could be brought up to the home owner’s real estate agent as a bargaining chip. Your real estate agent will help you determine whether this property is a wise investment after making the desired changes. This is why it is really important to find the right real estate agent to guide you in the process. Check out our blog “5 Reasons to be Thankful for a Great Real Estate Agent” to see just how important a role they play in purchasing your Ocean Edge home. If you are concerned with the time it takes to make these improvements, keep in mind that typically it only takes about a week for old flooring to be replaced with new flooring, so it could be taken care of before you plan on moving into the property. A simple paint job could take even less time if you find the right contractor. If the sellers do not agree to cover the cost of having the floors replaced or painting done on the property, ask your real estate agent or people you trust such as family or friends if they have anyone they recommend to give you a quote on how much it would cost to have these changes done to the property. If you’re already getting a deal on the condo, it may be worth a little more money to make the condo the home of your dreams.

Rooms Used for Other Purposes

Sometimes home owners decide to use rooms for purposes besides what the room was originally intended or how you would expect a home owner to use the space. A second bedroom is converted into an office. A dining room becomes a gym because the home owner likes to work out and watch television at the same time. The current home owner could have run out of room and that is the reason behind the move, so a bedroom maybe have sprouted up in a room (such as a living room). While this can be shocking at first, it is important that you do not let these odd choices discourage you from snatching up this bargain Ocean Edge condo.

Try your best to picture the condo as a blank space. Do not get distracted by the seller’s odd choices and focus on what you can do with the condo. Envision your furniture and decor in the home, and how you would make it your own. If it is priced right, you could have more wiggle room in your budget to make the space even better than a “turn key” property that is priced above this condo. Keep in mind that this could potentially be your home.

Find Your Bargain Ocean Edge Condo

If you keep an open mind, you might find your bargain Ocean Edge condo that can easily be transformed into your dream home. Ocean Edge in Brewster is a very desirable place to purchase whether you are looking for a home to call your own on Cape Cod or a Cape Cod investment property. Check out a couple of properties that are not in turn key condition and see if you can save some money by turning them into your ideal space on your own (or with the help of a skilled contractor). You might be surprised! When buying your Ocean Edge condo, work with an expert in the area. Contact Michael Leighton and his team, he has been the #1 Agent at Ocean Edge since 2004.

January 24, 2017/by Leighton Team

Buying

What to do if the Ocean Edge Condo Seller Rejects Your Offer

Searching for the right Ocean Edge condo can be exhausting. You have a list of must haves, and when you find a condominium that fits all of your criteria it is exciting and a huge relief at the same time. You’ve toured the home, made sure every item of your list was checked off and put in your offer. Your offer might have been your best and final or it could have been a low offer expecting to negotiate with the seller to find a price both of you were comfortable with. You have already made a big decision by choosing a condo at Ocean Edge. The amenities, different floor plans and location make condos at Ocean Edge a very desirable place to buy. See our blog “5 Reasons to Buy a Condo at Ocean Edge” for more reasons why buying a condo at Ocean Edge is a wise decision. When you hear back from your real estate agent, they tell you that the Ocean Edge condo seller rejected your offer. The seller did not want to make a counter offer, they just flat out rejected your offer. Rejection without explanation can be difficult regardless of the situation, whether it be when in a personal relationship or when buying a house. However, the bottom line is that the Ocean Edge condo seller has the right to accept your offer, counter your offer or reject your offer.

Don’t Think too Much

Just like with any rejection, you may be left standing there wondering what you did or said to cause the deal to completely fall through. Was it something you said during the open house that offended the Ocean Edge condo seller? Sometimes owners like to be present among the potential buyers to see what kind of feedback they can get for their property. Although it is not encouraged, it does happen. Some sellers do not take the criticism of their property too well, causing them to hold a grudge and potentially the seller rejects your offer as a result. Check out our blog “8 Things You Should Never Say at an Open House” to avoid that problem.

Keep in mind that people sell their homes for many reasons. Some Ocean Edge condo sellers are motivated because they need to move for their job or can no longer afford their home and need to sell it as soon as possible. Others are selling but really don’t have that motivation behind their decision to sell. The owner could be selling during an emotional time in their lives and are not quite ready to give it up just yet. This could cause them to make irrational decisions such as the seller rejects your offer for little to no real reason. It’s important not to take the rejection personally and move on.

Best and Final

If the offer you presented to the Ocean Edge condo seller was not your best and final offer, or the most money that you can pay for the property, it might be a good time to present the highest number you are willing to offer. It is a last ditch attempt to get the property, which the home owner might accept or once again reject. If this is a property that you just can’t get out of your mind and that you feel you need to have, presenting your best and final offer is your only option. After all, what’s the worst thing they can say? No again? Now that the sting from the first “no” has dulled, a second rejection shouldn’t hurt as badly.

On the other hand, they might accept your second offer, realizing that you really are serious about their property. Sometimes when a home owner realizes that someone loves their home as much as they do, they are more willing to accept offers. If you are not working with a real estate agent, it might be a good idea to hire one to represent you. They can speak to the seller’s agent to find out what the sellers might accept, if there are any conditions that would be especially appealing to them to encourage them to sell to you. Check out our blog “Buying an Ocean Edge Condo? Why You Should Consider a Real Estate Agent” for more reasons why it is a good idea to have someone represent you when buying a home.

Forget About It

If the Ocean Edge condo seller rejects your offer and you’ve offered your best and final number, it is time to just walk away from the condominium. Overthinking what happened with this home can distract you and waste your energy that could be better spent on looking for another home. One of the perks of buying a condo at Ocean Edge is that there is a variety of floor plans to choose from throughout the property. If you find that you prefer a certain floor plan, there are multiple units that offer the same layout, increasing your opportunities to buy that style condo. A condo that might even be better than the one you made your original offer on could be put on the market any day, so do not completely give up on your search.

It is important to work with a real estate agent that is familiar with Ocean Edge so they can match you with a unit that is similar to the one that you had fallen in love with initially. They can show you similar and even better units. If a condo comes on the market that can match your list of needs with only a few improvements, your agent would be able to guide you on how to make it happen. Michael Leighton has been the #1 Agent at Ocean Edge since 2004, so he is an expert on Ocean Edge properties. Contact Michael Leighton and his team to see how they can help you find your dream condo at Ocean Edge.

The Ocean Edge Condo Seller Rejects Your Offer

Finding the perfect home can be an exhausting task, but once you do find it and the Ocean Edge condo seller rejects your offer, it can be crushing. If you do find yourself in that situation, the best thing you can do is lean on your real estate agent to make one last push to buy the home and if that doesn’t work, move on. Your real estate agent can help you find a similar or even better property to buy once you move on as long as you are able to put the property behind you and focus your energy on your home search.

January 16, 2017/by Leighton Team

Buying

How to Save for a Down Payment on an Ocean Edge Condo

Due to the cost of renting, the amount of debt owed to student loans and the cost of living versus current salaries, it can be difficult to save for a down payment on an Ocean Edge condo. Some mortgage programs require 10% down, and others 20% to purchase a home. In order to put 10% down on a home, the average person would have to save for 8 years to afford their home’s down payment. To be 20% down as a down payment on an Ocean Edge condo, it would take the average first time home buyer 12.5 years. That is if you are able to save 6.5% of your income, but with current rent rates, especially on Cape Cod, that can be difficult.

When you look at what you would spend on a mortgage and condo fees, versus what it costs to rent a home, it costs just as much if not more to rent than it does to buy a home. Interested in making the transition from renter to owning your own condo at Ocean Edge? Check out our blog “Renter to Homeowner – How to Make the Leap.” Break the cycle of spending your hard earned money without receiving anything in return and save for a down payment on an Ocean Edge condo of your own!

Research Your Options

Freddie Mac and Fannie Mae offer payment plans that only require home buyers to put 3% of the purchase price down instead of 10-20%. To qualify for these mortgage products, your credit score needs to be at least a 620. If you are not sure about your credit score, you should look into it before you do anything else. If your credit score is not 620 or above, check out our blog “Clean Up Your Credit Score Before You Buy” for tips on how to bring your credit score up before you buy your condo. In order to be considered for a Freddie Mac or Fannie Mae program you would need to be able to provide documentation of your job status, finances (including assets) and total income.

As a first time home buyer, you would also need to participate in a first time home buyer course. At the end of the course, you will be issued a certificate that you would give to your lender as proof of completion of the course. Due to the amount you will be putting up as a down payment for an Ocean Edge condo, you will have to pay private mortgage insurance monthly in addition to your mortgage and condo fees. The private mortgage insurance acts as an insurance for the lender in case the homeowner defaults on the loan. Freddie Mac and Fannie Mae products are in place to help first time home buyers and low income buyers fulfill the American dream and purchase a home of their own. It is an affordable option as opposed to other loans which may be out of reach due to the amount needed to save for a down payment.

Hire a Real Estate Agent

A real estate agent can not only help you find your ideal Ocean Edge condo, but they can also help you keep money in your pocket when purchasing your property. Having a real estate agent on your side when purchasing a home can help when negotiating your closing and can save you upfront costs. Once you have found the home you want to buy, there are costs that you need to come up with at the closing of the home that as a first time home buyer you might not be aware of. Fortunately, your real estate agent is familiar with these costs and may be able to help negotiate with the seller to save you from paying those “upfront” or closing costs. What are these upfront costs at closing? Find out more and read our blog “Hidden Costs of Buying a Home.”

Prioritize

Take a look at your wants and needs and prioritize your spending. If you want to save for a down payment on an Ocean Edge condo, some of your wants need to take a back seat. Figure out what you need to spend money on such as housing and food, and track where the rest of your money is going during the month. Eliminate unnecessary spending, and see what you really can live without and what is really important in your life. Squirrel away as much money as you can for your down payment on an Ocean Edge condo.

Pay Off Debt

It makes sense to eliminate debt before incurring more debt, right? Before purchasing your new home and making monthly mortgage and condo fee payments, eliminate as much debt you already have now. Contribute a little extra to your car payments or make more than just the minimum payments due for your credit card. If you take care of your current debts before you focus on saving for your down payment on an Ocean Edge condo, you will increase the amount of money you can save by eliminating your other monthly payments.

Tracking how much you spend will help you identify where your money is going. If you pay only the minimum due on your credit card, you are being charged interest on your remaining balance that you have to pay the following month. Save yourself the interest because it can go towards your condo instead of to the credit card companies. Paying a little extra on your car loan shortens the amount of time that you have to pay for it. Before paying off your car loan prematurely, make sure you contact your lender to see if there is a penalty for paying off your loan before the end of your agreement.

Savings Account

The next time you visit your local bank, it might be a good idea to find out if you can speak to a financial adviser to see what kind of account could help you save for your down payment. When saving for a down payment or any other big purchase, decide to go with a tax free savings account. A tax free savings account could give you some tax benefits from the money you are saving for your down payment. You may also want to check into an automatic savings account. A portion (you would determine the amount or percentage) that would go into a savings account from your deposits. The deposit into the savings account happens automatically, so the money doesn’t stay in your checking account requiring you to move it yourself.

How to Save for a Down Payment on an Ocean Edge condo

To save for a down payment, you need to do your research on what lending programs you qualify for and how much you need to come up with by the time you are ready to purchase your Ocean Edge condo. Prioritizing your spending, eliminating debt and setting up a savings plan are key in your strategy to save for a down payment on your home.

December 23, 2016/by Leighton Team

Buying

Buying an Ocean Edge Condo: How to Prevent Buyers Remorse

We have all experienced buyers remorse at one point or another in our lives. You see something in the store, you feel like you just have to have it so you buy it. When you come down from your little shopping high purchasing this coveted item, you start analyzing your purchase. Did you really need it? Did you need to spend the amount you spent on it? What are you going to do with it? How could you have spent your money better? Why didn’t you comparative shop before making the leap? All of these questions swimming in your head could leave you feeling buyers remorse. Although it’s not a desirable feeling to get after making a purchase, at least you are typically able to return your purchase for a refund or at least store credit if you realize your purchase was a mistake. When you buy a home, you can not just return your condo if you determine that your purchase was a mistake. Avoid feeling homeowner buyers remorse and ask yourself these questions before you pull the trigger on purchasing your Ocean Edge condo.

Is It All About Winning?

When a property has many desirable features, is priced competitively and marketed well, many times a bidding war will ensue. Sometimes people get so caught up in trying to outbid the other person to “win” the home that they don’t really think about whether the home is worth it or not. They also don’t consider whether they would be able to afford the home now with that the price has gone above their original offer. It always feels good to win, but if you’re winning a home that you spent way too much money on and suddenly realize it, that feeling will definitely turn into buyers remorse. Keep a clear head if a bidding war starts. Determine what you are comfortable spending and stick with it. You might be able to pay a little more on the condo than you originally thought if the home is in good shape and you don’t need to do any major upgrades or remodeling to make it your dream home. If the condo does need some work, it might be a good idea to hold back and let this property slip by. New properties will be listed on the market. The perfect condo that fits your needs and budget could be just around the corner. Check out our blog “Find Your Dream Condo at Ocean Edge.”

How Familiar with the Condo are You?

One of the major reasons people feel buyers remorse after purchasing their home is because they are not completely familiar with the property before purchasing it. Sometimes surprises are fun, but when it comes to a home, unexpected surprises are not a good thing and can make you question why you bought your home. It’s important that you visit the condo multiple times, and that you inspect it thoroughly before purchasing the home. How many times have you visited the house you are thinking about purchasing? Buying a home is a huge investment, and you want to make sure you are making the right decision. Take someone you trust to see the home, whether it be a family member or friend. Try to see the home unfurnished so you can imagine yourself and your belongings in the space. You want to be confident in your purchase, so take your time and visit the home as often as you need until you are sure that it is the right home for you.

Have You Seen the Condo Alone?

Go to the home and tour it alone so you can really pay attention to the condo and see how you feel about it without anyone else’s opinion. If you’ve only been through the home with your significant other, trusted family member or friend, you might be feeling their excitement about the condo instead of your own. Are they talking you into what a great purchase this home is or do you believe it is the best place for you? Having your real estate agent there with you one on one to point out the positives and negatives of the property is always helpful. Their unbiased opinion and knowledge of the property and local real estate can help you make a more clear headed decision regarding the condo. After doing a walk through with your real estate agent, do a walk through by yourself. This will give you time to process what they said and see if it is a home that you can live with, flaws and all. When you’re done with your walk through it is helpful to have your real estate agent there to ask any questions that may have come up during your home tour. Not sure if you are working with the right real estate agent? Check out our blog “5 Reasons to be Thankful for a Great Real Estate Agent” to make sure yours is making the grade.

Do You Have a Contingency for That?

When buying a home, it is important to have a safety net just in case things do not go as planned in the inspection, appraisal or while securing your mortgage. If you are working with a real estate agent, they will likely recommend that you put in a contingency for the home inspection for the property. This is the only way that you can walk away from purchasing the condo if there is something really wrong with the property that is found during the home inspection. If you do not include the contingency regarding the home inspection, the property could be a total loss but you would still have to purchase it. If there is something wrong with the property that the inspection uncovers and you have that contingency in place, you have the opportunity to then walk away from the sale. Check out our blog “Top Home Buyers Fears and How to Face Them” which will discuss contingencies and other ways to protect yourself when buying your home.

How to Prevent Ocean Edge Buyers Remorse

Buyers remorse is a feeling that no one likes to get when they are making a large purchase. A home is most likely the largest purchase you will make in your life, and it is the worst purchase to regret because you can not return the home if you decide it was a bad idea. By taking the time to ask yourself the above questions, you could save yourself from living with regret over making the wrong purchase or the hassle of trying to sell your condo once you realize that it is not for you.

December 16, 2016/by Leighton Team

Buying

Buying at Ocean Edge? Why You Should Consider A Real Estate Agent

For many, buying a condo or house is the largest purchase they will make in their lifetime. You might be tempted as a home buyer to cut the cost of buying a home by not using a real estate agent. For some people that works out just fine, and their home purchase goes well as far as they are concerned without using a real estate agent. However, if you are thinking of buying an Ocean Edge condo in Brewster without the assistance of a real estate agent, you need to really evaluate your ability to do this all on your own. Are you willing to sign a legally binding contract to purchase a condominium for hundreds of thousands of dollars without a professional on your side looking out for your best interests? Every year, home buyers make the decision to go without a real estate agent and end up spending an excessive amount of time and their own money trying to find the right home. Purchasing a home without a real estate agent is taking a gamble. If you are thinking about buying an Ocean Edge condominium in the near future, here are the reasons why you should consider a real estate agent.

What it Takes to Become a Real Estate Agent

A real estate agent went to classes in order to become a licensed real estate agent. Once they pass the exam to become an agent which tests on both state laws and real estate practices, they start working for a real estate broker. The real estate broker takes the agent under their wing and gives them the practical experience that they need to become successful in the field. It is in the broker’s best interest to train the agent well in their philosophy and ensure that the agent maintains ethical standards because they are a direct reflection on the real estate broker. In real estate, your reputation is everything. It is just as important to the real estate agent to build up their relationships in the community as it is for the real estate brokerage.

The Ocean Edge Condo Buying Process

The process of purchasing an Ocean Edge condo usually starts with an initial offer to buy a home. A thorough inspection of the home is conducted, which the home owner consented to being performed before the purchase. The inspection could come back as fine, and you can go ahead in purchasing the property or the inspection could uncover some issues that may make you want to lower your offer or cancel all together. Since you wrote an offer, and that is a binding contract, you want to make sure that you are protected by writing in a contingency that states that if there is a problem with the inspection you can back out of the deal. You do not want to be stuck buying an Ocean Edge condo that will cost you lots of money to get fixed up. Your agent has the experience to know what problems could potentially pop up and how to protect you from them. Worried about the home buying process? Check out our blog “Top Home Buyers Fears and How to Face Them.”

Do Your Homework

If all of this information has you thinking about hiring a real estate agent, make sure you do some research before hiring. Ask your friends and family if they have anyone that they recommend from their experiences. Also, you want to find a real estate agent that is an expert in the area in which you are buying. For example, Michael Leighton has been the #1 Real Estate Agent at Ocean Edge since 2004. Within the Ocean Edge complex, there are a lot of things to take into account when purchasing a condo. A real estate agent that has been through numerous transactions within that condo community will know what is typical, what is not and how to make the purchase a smooth and relatively stress free experience. Hiring a friend who just got their real estate license or the first person that pops up in a Google search for real estate agents on Cape Cod is most likely not the best person to represent you in this monumental purchase.

The Cost of a Real Estate Agent

When you first meet with a real estate agent, you will discuss the agent’s compensation. Honestly, the cost of a real estate agent working with you on your Ocean Edge condo purchase will most likely pay for itself. A real estate agent is trained to negotiate and get you the best deal possible for the condo you are buying. The percentage they save you on the home could possibly cover the real estate agent’s cost. Or if there is a problem with your property that requires remedy, the agent could save you on the cost of repairing it yourself by making a contingency that the owner either fixes it before you move in or gives you the money to cover the cost of having it repaired when you do own the home.

The bottom line is that you should not focus too much on how much hiring a real estate agent takes away from your home profit, because their experience and knowledge about the market is invaluable when trying to negotiate the right price. A real estate agent wants to help you find a home and get you the best price possible. Their skill set from working in the field and learning in the classroom about the laws makes their services well worth the money. For more on what potential issues could arise when closing on your dream home, check out our blog “5 Closing Day Problems and How to Fix Them.” The blog will give you insight into what you might face and how your real estate agent can help you get through it.

Ocean Edge Condos currently For Sale

Take a look at what Ocean Edge condos in Brewster are currently for sale:

View all Ocean Edge Condos For Sale

Why You Should Consider a Real Estate Agent

Real estate agents are here to protect you and your investment. The Ocean Edge condo you purchase is likely to be one of the bigger purchases you make in your lifetime, why not hire a professional to make sure you are getting the best deal and the right property. The cost of a real estate agent is minimal compared to what they bring to the table in experience, which will make your home buying experience much easier. You real estate agent can help you avoid making some common first time home buyers mistakes. Check out our blog, “4 First Time Home Buyers Mistakes to Avoid” so you do not fall into these easy to make mistakes.

November 28, 2016/by Leighton Team