The top benefits of owning real estate include generating investment income, providing a stable housing solution, and owning an appreciating asset that builds wealth for retirement. However, many fringe benefits come along with property ownership, and tax benefits are some that many underestimate or simply overlook.
Before you file this year, homeowners, farmers, investors, and landowners should be aware of all the tax benefits that your property provides this tax season. And if you don’t yet own a home but plan to, make sure you speak with a trusted advisor before you file to understand how lenders view your income when it’s time to borrow - especially if you are self-employed. You may do a double-take before claiming a bunch of write-offs. Here are 8 questions property owners should ask before hitting submit.
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You dream of home ownership, but the down payment requirement dashes those hopes. I mean, who has tens of thousands of dollars sitting around? Many mistakenly believe they need an impossible 20% down payment to put toward buying a home. But the reality is homeownership can come at little or no up-front cost through down payment assistance programs.
It was recently reported that over 2,000 buyer assistance programs exist in the U.S. – the average benefit between $10,000 and $12,000. Yet many of the home buyers I’ve worked with didn’t know these existed or how to access them. In fact, a recent survey suggested that less than half of non-homeowners are aware of any down payment assistance. So here are the basics on these programs as well as 3 easy steps to see if you qualify! |
MoreOwning real estate should be a journey of building & preserving wealth through the equity in your home or other properties. Our resources are designed to give current and would-be homeowners tips & trick to maintain, improve & shop for their greatest asset. Your search for value in real estate stops here. Archives
July 2024
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