Are you tired of listening to your neighbors through the thin walls of your apartment? Do you hate it when that guy in the apartment next to you takes your parking spot? Isn’t it frustrating when all the washing machines are being used in the laundry room?
If so, it’s time to consider purchasing your own home!
Buying a home is a lot more affordable than you may think. If you’d like more information on the buying process and the options available to you, I can help! Let’s get you out of that crowded apartment and into your own home.
When you rent a home, you’re paying your landlord’s mortgage. Why not think about buying a home and paying your own mortgage. Now you may be thinking "there’s no way I can afford a home now!" I hear that a lot from my clients. They are often surprised to find out later that their monthly mortgage payment is actually the same – or less – than their rent!
Give me a call! We will discuss how to get you out of your apartment and into your very own home!
I'm here to help!
Saturday May 3rd, 2008
Railroad Avenue
8:00 am-3:00 pm
Arts & Crafts, Yard Sale Items, Homemade Products, Home baked goods, Novelty Items, Plants, Refreshments...
And a whole lot more!
There will be a Master Gardening Demonstration at 10:00 am
Come find some great buys and in the process support the Railroad Ave. Parkway Project
If you’ve purchased, sold or refinanced your home in the past year, tax season is the best time to reap the benefits of being a homeowner! Take advantage of some of these tax breaks today and you could enjoy a bigger return in April!
Mortgage Interest. For most homeowners, the bulk of your mortgage payment is going towards interest – and that’s a big tax break for you! The mortgage interest on your primary residence is fully tax deductible, unless, of course your loan is more than $1 million.
You can also deduct late payment charges as home mortgage interest as long as the payment was not late due to a specific service received in connection with your home loan. Also, if you pay off your mortgage early and incur a prepayment penalty, you can deduct that penalty as home mortgage interest (subject to the same requirements for late payments).
Property Taxes. Your property taxes - the annual taxes based on the assessed value of your property – can also be deducted. Your mortgage interest statement may list the amount of real estate taxes you paid if your taxes and homeowners' insurance went into an escrow account when you closed on your mortgage. You can also review your cancelled checks to determine your total real estate tax deduction.
Loan Points. Any points you paid to get a better rate on a home loan, are tax deductible in the year you made the purchase as long as:
Loan Points on a Refi. The points you paid on a refinanced loan may also be tax deductible, however in most cases, the points must be deducted over the life of the new loan. So if you paid $2,000 in points to refinance a 30-year mortgage, you can deduct $5.56 per monthly payment, or a total of $66.72 if you made 12 payments in one year on the new loan.
Interest on a Home Equity Loan. The interest on a home equity loan may be tax deductible up to $100,000. However, if your home equity loan, when combined with your first mortgage amount, increases the debt on your home to an amount more than the property's actual value, you’ll face deductibility limits. In these cases, the IRS allows you to deduct the smaller of interest on a $100,000 loan or your home's value less the amount of your existing mortgage.
Prudential Gardner, Realtors • 985-249-8081 • tina@tinabaril.com • www.tinabaril.com
We're in our homes day in and day out. Indeed, our homes are where we spend the majority of our time. As time passes, inevitably things wear out, or we're ready for a bit of a change. Suddenly you're up to your eyeballs in drywall with a human-sized hole in what was once your bedroom wall, and you're wondering where you went wrong.
Home improvement isn't just something to do to change things up around the house. It's an investment that can have a marked impact on the value of your home. The possibilities are innumerable, but what improvements will yield the greatest value? Here are some of the top-ranking home improvements driving the selling market today.
Growing Prosperous Through PaintOne of the easiest and least expensive ways to increase your home's appeal, a well placed paint job can improve the visual allure of your home's interior. While painting may not have a remarkable effect on the overall value of your home, it can have a significant impact on the likelihood of your home selling at your desired price.
Cookin' KitchensIf you're considering remodeling or redesigning your kitchen, you're thinking like a pro. A well designed, spacious kitchen is worth its weight in gold. Not only does it benefit those that live in the home, but generates some of the highest recuperation of remodeling expenses, as well as generating a 5-10% increase in the value of your home. A kitchen equipped with modern appliances, nice counter tops, and new cabinetry will certainly be an investment to pursue if you are considering remodeling or renovating your home.
Bathrooms Equal BankBathrooms are another big player when it comes to home improvements. If you've watched any home improvement shows over the last couple of years you've no doubt seen many people turning a plain old bathroom into an elegant piece of tiled artwork; and for good cause. Bathrooms are a major consideration when purchasing a home. Adding a bathroom can also be a boon to those wanting to increase the value of their home, often yielding in a 5-10% jump. One word of caution before you start knocking down those walls, however. Replacing a bedroom with a bathroom is a definite faux pas, and can really drive down value.
Windows are a winAside from their obvious aesthetic qualities, windows add more perceived space to a home. A house that feels more spacious will sell as if it were more spacious. Windows are fairly inexpensive to install, and their overall impact on your home's value can be quite noticeable.
Hit the DeckThink of a deck as a way to increase your overall square footage without all of the costs and hassle associated with adding a new room to your home. More living area is an automatic increase in a home's overall value. As a general rule of thumb, if you're going to be adding a deck to your home, the square footage of the deck should never be more than one-third of the interior square footage.
So, before you start digging that pool in your living room, consider these home improvements that are guaranteed to build upon your home's value!
Sincerely
Tina Baril
An Independently owned and operated member of the Prudential Real Estate Affiliates, Inc.
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