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5 Common First-Time Buyer Mistakes
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They don’t ask enough questions of their lender and miss out on the best deal.
They don’t act quickly enough to make a decision and someone else buys the house.
They don’t find the right agent whose willing to help them through the homebuying process.
They don’t do enough to make their offer look good to a seller.
They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.
Reprinted with permission from Real Estate Checklists and Systems
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Land in East Bridgewater
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Bring your plans or let us help you design the home of your dreams on this wonderful lot in East Bridgewater.
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The first step to your next home...
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Impressive custom built home in East Bridgewater
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Home $weet Tax Break
Yes, it's the American Dream. Yes, it's a very dependable investment, which often grows in value. But did you know that there are also great tax savings in buying a new home, picket fence or no?
Tax savings with home ownership:
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You can deduct mortgage interest on a home acquisition loan up to $1 million for married filing jointly or $500,000 for married filing separately. You can also deduct property taxes paid, which is especially advantageous to those who are just beginning to pay off their mortgages.
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"Points," or loan origination fees, can be deducted the year you pay them or amortized over the term of your mortgage.
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Even the interest from home improvement loans is tax-deductible, up to the limitation for acquisition debt: $1 million for married filing jointly and $500,000 for married filing separately.
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Home equity loan interest is deductible for loans up to $100,000 for married filing jointly and $50,000 for married filing separately.
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If you sell your house, you can exclude up to $250,000 of capital gain if you are married filing jointly — $500,000 if you are married filing separately — from your taxable income. You must have owned and used the home as your personal residence for two out of the five years before the sale.
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Completely Renovated Condo in Harwich
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Better Listings
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Better Results
In today's competitive real estate market, timing is everything. Many properties are sold before they are even advertised. When you are ready to begin your search, sign up for your own personalized MLS search with my New Listings Notification.
Tony Lonergan · Silva Real Estate ·
412 Bedford Street, East Bridgewater, MA 02333
Cell: 617-515-6165 Office: 508-378-8890 eFax: 517-519-6165
Email: tony@MyEastBridgewater.com
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