Tax Breaks for Homeowners
A huge benefit of being a homeowner is the ability to take advantage of a number of tax breaks. Check out the possibilities.
Hopefully, part of the reason you decided to buy a home and stop renting is for the tax breaks. And there are quite a few of them!
Depending on your income level, you can deduct several expenses associated with owning a home, including mortgage interest, real estate taxes, private mortgage insurance (PMI) and any money you paid toward points or origination fees.
If you moved 50 miles or more for a new job, you can even deduct some of your expenses, such as the cost of packing, transporting or storing your household goods.
Remember to consult a tax professional about your particular situation.
Next Up
Sellers: What to Do When You Can't Find a Home Before Yours Sells
Did you sell your home so quickly you're worried you can't find a new home in time? See how one woman solved the problem.
Sell the Benefits of Your Smaller Home
Impress buyers with money-saving and eco-friendly features.
Scheduling Your Relocation
If you can postpone your move, you could save some major cash.
Saving Money While Paying for a Home
You may be financially "exhausted" from saving for your home purchase, but now's actually a great time to keep saving.
Calculating Your Property Tax Bill
The tax amount you see on a listing might have nothing to do with how much your property tax bill will be after you buy the home. Here's how to crunch the numbers.
Understanding Property Taxes and Assessments
Homeowners have to pay property taxes. Before you buy, know how your local property taxes and special assessments will impact your cost of ownership.
Tax Deductions for First-Year Home Owners
Deduct money paid towards mortgage points or origination fees.
Building Mortgage Interest: More Tax Deductions and Incentives for Homeowners
Learn about the many tax advantages of homeownership, including special deductions and local incentives.
How to Make an Offer for a House
Making an offer on a house isn't a total roll of the dice. There are some basic steps you and your Realtor can take to arrive at a price range and other terms that make sense.
Pricing Your Home to Sell
Follow these tips for pricing your home correctly in a competitive market.
