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7 Reasons to Own Your Home
Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent ...
10 Questions to Ask the HOA Board When Buying a Condo
Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive — and organized — its members are. You’ll also be alerted to potential problems with the property. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more ...
Who’s responsible for defects discovered after closing?
Home buyers who buy during the dry season can be in for an unpleasant surprise when the roof leaks or the basement floods after the first rain. Who is responsible for damage caused by water intrusion and for making the necessary repairs to prevent it from happening again? It's possible that you are responsible if ...
Six must-haves for mortgage approval
Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender's strict underwriting are all too common. Some buyers are turned down for illogical reasons. ...
10 Easy Mistakes Home Owners Make on Their Taxes
Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit. Sin #1: Deducting the wrong year for property taxes You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities ...
Do You Know Your Home’s Value?
Your home is one of your most important investments and financial assets, but do you know its value? If you hesitate to answer, don't worry, you're not alone. Even if you're not trying to sell right now, there are other reasons that you may want to know your home's market value. And knowing this number ...
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