Buyers focus on the mortgage but it doesn’t tell you the true cost of home ownership. With your first home, you compare your mortgage payment to the rent you’ve been paying but wait, what expenses were included in your rent?
Income taxes can be filed using the standard deduction or itemized deductions. Most homeowners prefer itemized deductions to reduce their taxable income by what they’ve spent on mortgage interest, property taxes and more. It does take more time to gather all the paperwork needed to support itemized deductions and it’s usually worth it.
You’re proud of your professional accomplishments and don’t mind working extra hours if needed. You realize that the same project management skills you’ve developed at work are key to juggling your varied roles, from work to family and home ownership. Maybe you’re beginning to wonder when you’ll find more “me time” as there simply aren’t … Read More
When you’re just starting out, renting lets you move in and get on with life a lot quicker and easier. But as you settle into a career and have a better idea of where you want to put down roots, home ownership may start to become an appealing option. It’s knowing when you’re ready to … Read More
If home ownership is something you’ve dreamed about for years, it’s worth thinking about the lifestyle changes it will require before you take the plunge. Home ownership means you take on the role of landlord, and fixing problems takes time as well as money. So you’ll want to consider how much time owning a house … Read More
There’s a lot more to being a homeowner besides signing the mortgage paperwork and moving in. Although home ownership gives you more autonomy than renting or leasing an apartment or house, new roles emerge that you should be aware of. There’s no landlord to replace a broken water heater or make emergency repairs to your … Read More
A friend who divorced a year ago is scared and it’s true home ownership and divorce usually bode change. Jen is scared that after a year of emotional turmoil for herself and her children, they’re now going to lose their house. It’s hard to stand on the sidelines and offer encouragement that everything will work … Read More
Home ownership is exciting and scary at the same time. From buying your first home to each successive home you buy, there are many challenges along with the enjoyment and satisfaction that comes from owning your own home. Can you remember worrying about painting the walls in your apartment? Or dreaming about the day when you … Read More