On occasion, buyers who are prepared and qualify to buy a home decide to take a step back and wait to commit to the purchase of a home. When their focus moves from buying a home, they start considering using their down payment money for other things. They begin to think about other large purchases […]
All posts by Thierry Roche
Gallup Poll Says Real Estate Still the Best
In a recent annual Gallup poll that started in 2002, 35 percent of the respondents said real estate was the best long-term investment option compared to 27 percent who choose stocks. Although the top choices were real estate, stocks, savings accounts and buying gold, respondents had the most confidence in homes as investments. Even with […]
Property Type Conundrum
The IRS has four different types of real estate. Each type of property has benefits based on its classification. The property itself does not determine the classification as much as how the property will be used and the intentions of the owner. Below are some classifications and their definitions. Principal Residence – this would be […]
Show Them You’re Serious
Buy Again, It’s Time
If you experienced the distressed sale of a home but now you have your credit and finances back in order, you may still be asking the question “How long do I have to wait to qualify for another mortgage.” Based on when you experienced your distressed sale, the length of time will differ. Each different […]
A Home Warranty Can Save Money
We are past April 15th, tax filing day. You already know what your expenses were for last year. Unfortunately, the money spent on home repairs is not deductible. But if you are aware of how much you spent, it could help you make decisions that will save you money this year. Buyers are often provided […]
Inventory Your Home
When you need an inventory of your personal belongings in your home it is usually too late. You can try and create one from memory, but you will forget something important and it will cost you money on an insurance claim. Your homeowner’s policy might give you a blanket amount of coverage for personal items […]
Standard or Itemized Deductions
In 2017, the Tax Cuts and Jobs Act increased the standard deduction for married couples to $24,000. In some instances, homeowners may be better off using the standard deduction than itemizing on their return. Previously, homeowners could get a better benefit with itemizing but there is now a $10,000 limit of state and local taxes […]
Get Rid of FHA Mortgage Insurance
When we shop for home loans, we often gravitate toward the ones the require less down payment or are more lenient with credit scores. Often that can turn out to be an FHA loan. Then you get stuck with mortgage insurance premiums. On a $265,000 FHA mortgage that can add $200 extra to your monthly […]