Posted by Tom Mahedy on 7/20/2018

Buying your first home is a huge financial accomplishment and life milestone. The process is long, and can seem complicated at times. However, if you do your research and manage your money carefully, buying a house can be an excellent financial asset that will serve you for decades to come. 

Many people who hope to own a home in the near future arenít sure of the best way to start off on their path toward homeownership. This uncertainty leads them to put off their preparations. If you want to stop renting and start building equity, this is time wasted.

In todayís post, Iím going to give you some advice on how to start planning for homeownership, regardless of your current circumstances.

Build credit responsibly

One thing that will help you on nearly all mortgage applications is a good credit score. For those of us who had a difficult time paying off bills or had loans go into default, it can seem like a daunting task to ever raise your credit score into good standing.

However, when your score is low, it is actually easier and faster to raise than if it is already in high standing.

To boost your credit score, make sure your current debt is paid on time each month. If youíre thinking about taking on a new line of credit, consider setting it to auto-pay each month for the full statement balance. This way, youíll still improve your credit score but can also avoid costly interest payments.

Read up on mortgages and fees

There are many different types of mortgages available to borrowers in the United States. Some, such as USDA and VA loans, are guaranteed by the U.S. government. This means they often have less stringent credit and down payment requirements.

Donít be afraid to shop around between lenders. You may see different interest rates from similar lenders in your area.

Finally, make sure youíre familiar with the type of closing costs and property taxes youíll be responsible for. Itís one thing to be able to afford your monthly mortgage payments, but there are other costs to consider when it comes to being a homeowner.

Budget and save

Budgeting and saving are both skills that need to be learned and developed over time. None of us are born with the knowledge of how to best budget their expenses and earnings. However, there are some free tools available in most app stores.

When it comes to saving, remember that the more you save for a down payment, the lower your interest rate can be. The difference may seem small now, but over the lifetime of your mortgage can save you tens of thousands of dollars. Wouldnít you rather that money end up in your retirement fund than in your lenderís pocket?

Before you apply for a mortgage

If youíve saved for your down payment and built credit and are ready to take the next step and get preapproved, be aware that opening new lines of credit will temporarily decrease your score.





Posted by Tom Mahedy on 7/19/2018

This Single-Family in Sandwich, MA recently sold for $465,000. This Cape style home was sold by Tom Mahedy - Oceanside Realty Group.


15 Burg Avenue , Sandwich, MA 02563

Sandwich (village)

Single-Family

$469,500
Price
$465,000
Sale Price

7
Total Rooms
4
Beds
2/1
Full/Half Baths
Summertime! This charming Cape has just has a redo from top (Roof) to Bottom (Septic) and everything in between! Updated Kitchen with Stainless Appliances, Granite and lots of white cabinets, updated baths. Large Deck off Kitchen with great views of the Tidal Marsh. 4/10ths of a mile brings you to Town Neck Beach for summer fun...Freshly painted inside/out, hardwood floors redone, new carpet, most siding replaced. Great walk out lower level (extra 741 sq ft) with Bedroom, full bath and Family Room. Full service Marina and great restaurants nearby. Charming downtown Sandwich minutes away and easy commute off Cape. Turn Key and quick close possible. All info/dimensions to be verified by buyer/buyer agent...

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Categories: Sold Homes  


Posted by Tom Mahedy on 7/19/2018


12 Shannon Court , Yarmouth, MA 02664

Bass River

Single-Family

$249,900
Price

4
Total Rooms
1
Beds
1
Baths
Here is your Opportunity for a great Cape Getaway! This Charming cottage is only 3/10's of a mile to Beautiful Parker's River Beach and Skippers Restaurant for great food and Ice Cream! Many updates over the years including 2 Mini Split Heat/AC units to keep you cool all summer! Bonus room for overflow guests...Nice sized yard with a screened Gazebo, perfect spot to relax and read... located on a quiet side lane but close to all the Cape has to offer. 3 Bedroom Septic design offers potential rebuilding/adding on possibilities. Come see now as it will not last! All dimensions/info to verified by Buyer/Buyer Agent.
Open House
Saturday
July 21 at 11:00 AM to 1:00 PM
Dramatic Price Drop! Uber Charming Cottage TRULY a walk to the beach, great shape, AC and a 3 bedroom septic...will not last!
Cannot make the Open Houses?
Location: 12 Shannon Court , Yarmouth, MA 02664    Get Directions






Categories: Open House  


Posted by Tom Mahedy on 7/19/2018


12 Shannon Court , Yarmouth, MA 02664

Bass River

Single-Family

$249,900
Price

4
Total Rooms
1
Beds
1
Baths
Here is your Opportunity for a great Cape Getaway! This Charming cottage is only 3/10's of a mile to Beautiful Parker's River Beach and Skippers Restaurant for great food and Ice Cream! Many updates over the years including 2 Mini Split Heat/AC units to keep you cool all summer! Bonus room for overflow guests...Nice sized yard with a screened Gazebo, perfect spot to relax and read... located on a quiet side lane but close to all the Cape has to offer. 3 Bedroom Septic design offers potential rebuilding/adding on possibilities. Come see now as it will not last! All dimensions/info to verified by Buyer/Buyer Agent.
Open House
No scheduled Open Houses






Categories: Price Change  


Posted by Tom Mahedy on 7/19/2018


26 Powhatan Road , Yarmouth, MA 02664

South Yarmouth

Single-Family

$295,000
Price

6
Total Rooms
3
Beds
2
Baths
Looking for some charm? This Bungalow/Ranch has warm wood floors, fireplaced Living Room, lots of light thru many upgraded windows...New 3 Bedroom Septic in January 2017. State of the Art Gas Heating/Hot Water, upgraded insulation, detached garage. Easy stroll to Beach/Playground on Long Pond and just over 2 miles brings you to Bass River/Smugglers Beach with a fishing Pier and one of the best boat ramps with trailer parking on Cape Cod! Close to great shopping, Bass River and schools. 3rd Bedroom with Bath and office area at back of house, perfect roommate, older child/Parent or AirnBnB set up with private entrance! All dimensions/info to be verified by Buyer/Buyer Agent.
Open House
No scheduled Open Houses

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Categories: Price Change