Buying a home is probably the largest step in your life. Make sure you're prepared. It can and should be a fun process. Here's a list of things to consider and do before searching for your dream home.
There are probably few things in life that are as exciting -or as nerve- racking--as the search for a house. All the good emotions and the bad emotions seem to converge when the house hunting begins. Don't worry, this is a normal reaction, and is found in seasoned home buyers as well as those who are looking for their first home. Buying a home for the first time can bring many questions. Ideally, it would be best to meet with me in my office or even go over your questions on the phone before starting the process. I have put this page together to explain the beginning stages.
Many first time homebuyers go through the (Renting vs. Owning) comparison. If you’re currently a renter, you certainly are aware of the money that you spend monthly and the fact that none of it comes back to you. You also know, when the water heater goes out you just make a phone call! There are pros and cons of course. Owning your own home brings new responsibilities along with a positive financial outcome. It’s a long-term investment. You can take advantage of tax credits, appreciation, and your home’s equity down the road. When I rented my first home, I remember wanting to do certain things to the home including changing the carpet color. My landlord said “no” They wanted to keep it “neutral” for a future tenant. I also remember going to the local animal shelter to get a kitten. (I already had one cat, which was okay. I was lucky to have that.) The shelter had to phone my landlord for permission! There I was holding this kitten and already falling for it, only to be told “Sorry your landlord said no.” I had no idea the shelter required owner’s permission, and I had never talked with my landlord before about getting a “Second cat.” So I gave the cat back, and was completely humiliated. I felt like they were calling my parents! Yes I was young, but I knew then, I needed to have my own home. Freedom was my deciding factor.
One of the first decisions you need to make is whether you want to do your house hunting on your own. If you decide to go it on your own, you won’t be represented and may not be seeing ALL the homes on the market. If you contact agents for a particular home either by the sign out front, in an ad, or going through an open house, remember, the agent selling the home represents the seller’s best interest not yours. If you decide to use an agent, have your own (Buyer’s agent.) You certainly wouldn’t call upon the prosecuting attorney to represent you in your defense or answer your questions. The more I know about your situation and needs, the better I can assist you. There is no contract to sign while working with me. No fees, no strings attached. That is why it’s important to utilize my negotiating skills and knowledge of the market.
Once the decision to buy a home has been made, take the time to prepare before you go on your home search. Yes, it is very tempting to rush out and actually look at houses, but to do so without full preparation can be both disastrous and expensive. You will find that "house hunting" is down on the list.
Get your financial affairs in order first! I can't stress this enough--it will save you an enormous amount of time, aggravation and heartache. Determine what your budget will comfortably allow and stick to it. Don't spend yourself into a "house poor" situation.
Get pre-approved for a mortgage. This will not only give you a clear idea of how much a lender will approve you for, it will make your home buying process a great deal easier (and save a lot of time later). I can provide you a list of reputable trustworthy lenders. (There are a lot of lenders out here, not all created equal.) I often hear people mentioning pulling their credit and worried about losing points, when they aren’t even sure they will be buying a home. With so many loan programs out here, people sometimes don’t realize that they can actually afford more or less than they thought. Having your credit checked can also bring up any mistakes/errors that you can start to fix now and have solved before purchasing.
Get familiar with the different housing types available to narrow your search. Determine your minimum requirements as well as any desired additional features and your needs and wants. Prepare a “Must haves” list.
Take note of any items that you don't want in a house.
Determine the desired location (schools, work, public transportation, etc.) Cleveland proper? Westpark? Surrounding suburbs? (Lakewood, Parma, Brook Park, North Olmsted?) More rural area? (Lorain, Geauga, Medina?) With so many cities in Cleveland, it’s important to narrow down the areas you are interested in as much as possible. Drive around, check the cities local websites, look into area schools and tax rates. If you aren’t that familiar with the different areas, I can help.
As you're looking, use a scorecard to compare homes. A scorecard is a great tool when it comes time for comparisons (and for remembering which home had which features!)When you find something you like, I will pull recent comparables (Similar homes that have sold) and research the property. This way you know the true value and what an appropriate offer would be.
Maintain your perspective--and your cool! You may find an acceptable house on the 1st day--or the 50th. The important thing is to get the home that is best for you! Remember also, I’ll be with you every step of the way. Many of my past clients can testify that I am addicted to foundations, plumbing, electrical, roofing and the *guts* of a home. Through the years I’ve attended enough inspections and classes to detect potential areas of concern.
I can help find flaws in a home, recommend certain repairs, give a basic estimate of work needed, give you pointers on finding a house with a good resale value, and provide you with a list of professionals from insurance agents, to home inspectors.
I believe good sound advice, personality, experience and genuine care for my clients is what sets me apart and is the reason I receive referrals from happy home owners.
I don't consider what I do sales. I think of it as private representation, counseling, advocacyScience Articles, and helping people achieve the dream of homeownership.
ABOUT THE AUTHOR
Cecilia Sherrard is a full time dedicated Realtor in Northeast Ohio. With years of experience and knowledge, she has maintained a multi-million dollar producer status. Visit her website at http://www.youshouldown.com you can also view her Real Estate tips at http://www.youshouldown.com/realestatetips.asp
Friday, May 4, 2007
Thursday, May 3, 2007
Bedroom Design
Writing this article for you was a pleasure, I want it be likewise for your to read it.
For something such as a bedroom design you'll want to think long and hard about precisely what it is that you're going to do. Sure you know that you want to redecorate your sleeping room but before you do anything too drastic you should decide what character of redesigning you want to do. Remember that it doesn't need to be anything spectacular or strange because in the end you will have live with it, and unless you're willing to reconstruct your new bedroom design and change it altogether.
In which case you can play around and find out on the dot what you like at your leisure and not trouble about whether the furnishings you bought would suit. But a lot of people won't be able to do that and they will need to resort to doing it the old fashioned way, or of course you have another option, and that's to fall back to the use of home decorating software.
If you don't want to go that path either you always have the alternate of doing it the old fashioned way. With this method you might not get as much visualization as with the others but you can still accomplish great results. The problem here is that sometimes it's very difficult to see what the end consequence of your bedroom design will be like.
The best way to start is to get a pencil and a piece of paper and to mark out very approximately what your room shape is. If you have trouble visualizing it then move into the sleeping room and see what results you get. Next you should mark out the most visible aspects of the existing bedroom design which will be unchangeable, like doors and windows.
After that it's a hop, skip over and a jump to go on to the next step which is to play some on paper where you would like the heavier furnishings to go. And if you want to keep them where they are that's also fine because your bedroom design should be one that you're going to be happy with.
Then ideally you should settle on a color scheme. It doesn't need to be the same as the one in your existing bedroom design, it might be decent if you can change the whole thing around and turn the whole room on its head. After you settle on a color scheme there is only way to go and that is forward.
Start buying the new furnishings and fittings you'll need to fit in with your new bedroom design and just put it into place. And since you have everything you need to change or so in your old bedroom design, you can take your time and rearrange everything at your leisure. See what fits best where and whether you need to add a little something extra. Now, it's just a issue of settling in and Taking a good look at the bedroom design that you did, and enjoying the new furnishings and new fittings.
I'am glad you have found this article I hope you found the information useful.
Michael Malega presents several Bedroom Design articles for your information. You can visit Michael's web site at: http://www.modern-interior-designs-styles.com/Bedroom-Design.php
About the Author
Michael Malega presents several Bedroom Design articles for your information. You can visit Michael's web site at: http://www.modern-interior-designs-styles.com/Bedroom-Design.php
For something such as a bedroom design you'll want to think long and hard about precisely what it is that you're going to do. Sure you know that you want to redecorate your sleeping room but before you do anything too drastic you should decide what character of redesigning you want to do. Remember that it doesn't need to be anything spectacular or strange because in the end you will have live with it, and unless you're willing to reconstruct your new bedroom design and change it altogether.
In which case you can play around and find out on the dot what you like at your leisure and not trouble about whether the furnishings you bought would suit. But a lot of people won't be able to do that and they will need to resort to doing it the old fashioned way, or of course you have another option, and that's to fall back to the use of home decorating software.
If you don't want to go that path either you always have the alternate of doing it the old fashioned way. With this method you might not get as much visualization as with the others but you can still accomplish great results. The problem here is that sometimes it's very difficult to see what the end consequence of your bedroom design will be like.
The best way to start is to get a pencil and a piece of paper and to mark out very approximately what your room shape is. If you have trouble visualizing it then move into the sleeping room and see what results you get. Next you should mark out the most visible aspects of the existing bedroom design which will be unchangeable, like doors and windows.
After that it's a hop, skip over and a jump to go on to the next step which is to play some on paper where you would like the heavier furnishings to go. And if you want to keep them where they are that's also fine because your bedroom design should be one that you're going to be happy with.
Then ideally you should settle on a color scheme. It doesn't need to be the same as the one in your existing bedroom design, it might be decent if you can change the whole thing around and turn the whole room on its head. After you settle on a color scheme there is only way to go and that is forward.
Start buying the new furnishings and fittings you'll need to fit in with your new bedroom design and just put it into place. And since you have everything you need to change or so in your old bedroom design, you can take your time and rearrange everything at your leisure. See what fits best where and whether you need to add a little something extra. Now, it's just a issue of settling in and Taking a good look at the bedroom design that you did, and enjoying the new furnishings and new fittings.
I'am glad you have found this article I hope you found the information useful.
Michael Malega presents several Bedroom Design articles for your information. You can visit Michael's web site at: http://www.modern-interior-designs-styles.com/Bedroom-Design.php
About the Author
Michael Malega presents several Bedroom Design articles for your information. You can visit Michael's web site at: http://www.modern-interior-designs-styles.com/Bedroom-Design.php
The Rich Jerk - What's inside? Is it worth it?
Wow! Finally someone is going to take the time to actually tell you what's inside the Rich Jerk ebook and whether it's really worth it.
Well, I can say I have in fact read it, and my review is... well, it's ok. The ebook is certainly very interesting and gives a fairly good overview of how you can use advertising sources such as google adwords to sell products effectively for a commission from both clickbank and commission junction. Whilst there were some really interesting points in there that I had not of thought of before, I do not think for a second that anyone will become rich instantly just by reading the ebook - an agenda that so many of these ebooks take on. Here are some important points that I found useful:
You should try almost every advertising option that crosses your path, providing it looks legit and is affordable - there are other advertising solutions other than google adwords which give far better return on investment. The Rich Jerk ebook really opened my eyes to this fact - if you don't try the advertising solutions available out there then you will never know if they work or not, besides most advertising options available on the net do not cost a great deal so if after your tester investment you don't get a good return then you know not to use that solution again - just move onto another. He really pushes this fact when it comes to using other search engines, google is the most popular and so will most likely deliver most of your hits, but if you use a lot of the smaller search engines, then you can get the same quantity and quality of visitors overall at a cheaper overall cost. Two networks he recommended were Miva and 7search, I can't say I've used either yet. But from what I've heard in forums they seem to be doing a good job.
Another thing he talks about is how to actually write good adverts. Here's an example of two adverts, both advertising Domain registering services.
While other adverts will look like this:
Domain Registration
Register your domains here.
We are having a domain sale.
You should aim to make your adverts humorous or completely outrageous - it will draw attention and almost certainly boost your clickthru rates. You basically have to be creative and inventive, forget about all the formal language you've been taught at school, be informal; after all we are talking to people here, not robots! This advert would be much more effective:
Your Domain Sucks.
But if you register it with us
then it won't suck. Cuz we're cool.
This is not all he covers - one thing that caught my eye was the section on creating review sites to sell products, he really gives you everything you need to make a page that will sell. Now, I knew that gurus everywhere where always going on about creating your own reviews to sell products, but I never really got down to it, this book really hit it home for me - in fact I'm writing a review now! (don't worry I'm not actually trying to sell you the rich jerk ebook here though :P)
In short - I didn't think the book was a load regurgitated c$^* however I did think it lacked some aspects. For instance I really wanted to know more about auto responder advertising and maybe even an example or two that I could use for myself. Another thing I have to say, is that I agree with many other reviews on this book - it is not really for new comers - you have to know what he's talking about when he talks about affiliation, adwords, PPC, CTR, CPM - if you don't you'll find it hard to keep up.
Here are some chapters the book has in it for making money online.
"Creating Affiliate Websites that sell like crazy"
"Unique Search Engine PPC Strategies to kill the competition"
"Search Engine Optimisation Strategies" (some stuff I hadn't thought of in there)
"Selling your own Informational Product" (if you ever get there!)
"Buying Wholesale and selling on Ebay" (A section I didn't expect to see, there were some good product sources in there too)
"Websites you can make profitable right now"
"Other Online Ventures to Consider"
The Rich Jerk is certainly one to consider however there is another product out there that I believe would suit you much better when it comes to making money online. The product I'm talking about is called Profit Lance, the link is in my Bio below if you want to take a look.
Profit Lance is unlike any other product of its type I've ever seen - profit lance is more like a training course than just a simple manual. At first glance the sales page looks like any other corny 'make money' product out there. But there is a major difference here. Its a training system that actually gets you off your butt and gets you making money, this is because the system goes step by step explaining everything and at the end of each step it gives you a task or project to complete - with every project you complete you make steadily more income. As well as this unique system you are given 15 websites with free hosting that are implemented with every project you take on giving you a good starting block for your internet success. As well as these sites you are given 5 adsense sites a week over a period of 30 weeks (150 sites overall) these are also are ready made and at your disposal.
The main problem Profit Lance solves is procrastination, usually when people by one of these ebooks they get excited for a while then put it away and don't actually get on with it! They think, 'that was interesting, I'll try it soon' - but they never get round to it - Profit Lance practically makes you do the work and believe me it really helps!
If you're not sure about Profit Lance then open it up through the link in my bio and have a look at it - if you're still not sure keep it open and type 'profit lance' into google, there are plenty more articles out there to help you make a decision. Even then, if you can't afford to opt in to the system right away, you should bookmark it for later. Finally you must remember that they have great refund policy and I can guarantee you its a 100% legit. If you're not happy with the system you can claim a 100% refund within 80 days of purchasing.
About the Author
Well, I can say I have in fact read it, and my review is... well, it's ok. The ebook is certainly very interesting and gives a fairly good overview of how you can use advertising sources such as google adwords to sell products effectively for a commission from both clickbank and commission junction. Whilst there were some really interesting points in there that I had not of thought of before, I do not think for a second that anyone will become rich instantly just by reading the ebook - an agenda that so many of these ebooks take on. Here are some important points that I found useful:
You should try almost every advertising option that crosses your path, providing it looks legit and is affordable - there are other advertising solutions other than google adwords which give far better return on investment. The Rich Jerk ebook really opened my eyes to this fact - if you don't try the advertising solutions available out there then you will never know if they work or not, besides most advertising options available on the net do not cost a great deal so if after your tester investment you don't get a good return then you know not to use that solution again - just move onto another. He really pushes this fact when it comes to using other search engines, google is the most popular and so will most likely deliver most of your hits, but if you use a lot of the smaller search engines, then you can get the same quantity and quality of visitors overall at a cheaper overall cost. Two networks he recommended were Miva and 7search, I can't say I've used either yet. But from what I've heard in forums they seem to be doing a good job.
Another thing he talks about is how to actually write good adverts. Here's an example of two adverts, both advertising Domain registering services.
While other adverts will look like this:
Domain Registration
Register your domains here.
We are having a domain sale.
You should aim to make your adverts humorous or completely outrageous - it will draw attention and almost certainly boost your clickthru rates. You basically have to be creative and inventive, forget about all the formal language you've been taught at school, be informal; after all we are talking to people here, not robots! This advert would be much more effective:
Your Domain Sucks.
But if you register it with us
then it won't suck. Cuz we're cool.
This is not all he covers - one thing that caught my eye was the section on creating review sites to sell products, he really gives you everything you need to make a page that will sell. Now, I knew that gurus everywhere where always going on about creating your own reviews to sell products, but I never really got down to it, this book really hit it home for me - in fact I'm writing a review now! (don't worry I'm not actually trying to sell you the rich jerk ebook here though :P)
In short - I didn't think the book was a load regurgitated c$^* however I did think it lacked some aspects. For instance I really wanted to know more about auto responder advertising and maybe even an example or two that I could use for myself. Another thing I have to say, is that I agree with many other reviews on this book - it is not really for new comers - you have to know what he's talking about when he talks about affiliation, adwords, PPC, CTR, CPM - if you don't you'll find it hard to keep up.
Here are some chapters the book has in it for making money online.
"Creating Affiliate Websites that sell like crazy"
"Unique Search Engine PPC Strategies to kill the competition"
"Search Engine Optimisation Strategies" (some stuff I hadn't thought of in there)
"Selling your own Informational Product" (if you ever get there!)
"Buying Wholesale and selling on Ebay" (A section I didn't expect to see, there were some good product sources in there too)
"Websites you can make profitable right now"
"Other Online Ventures to Consider"
The Rich Jerk is certainly one to consider however there is another product out there that I believe would suit you much better when it comes to making money online. The product I'm talking about is called Profit Lance, the link is in my Bio below if you want to take a look.
Profit Lance is unlike any other product of its type I've ever seen - profit lance is more like a training course than just a simple manual. At first glance the sales page looks like any other corny 'make money' product out there. But there is a major difference here. Its a training system that actually gets you off your butt and gets you making money, this is because the system goes step by step explaining everything and at the end of each step it gives you a task or project to complete - with every project you complete you make steadily more income. As well as this unique system you are given 15 websites with free hosting that are implemented with every project you take on giving you a good starting block for your internet success. As well as these sites you are given 5 adsense sites a week over a period of 30 weeks (150 sites overall) these are also are ready made and at your disposal.
The main problem Profit Lance solves is procrastination, usually when people by one of these ebooks they get excited for a while then put it away and don't actually get on with it! They think, 'that was interesting, I'll try it soon' - but they never get round to it - Profit Lance practically makes you do the work and believe me it really helps!
If you're not sure about Profit Lance then open it up through the link in my bio and have a look at it - if you're still not sure keep it open and type 'profit lance' into google, there are plenty more articles out there to help you make a decision. Even then, if you can't afford to opt in to the system right away, you should bookmark it for later. Finally you must remember that they have great refund policy and I can guarantee you its a 100% legit. If you're not happy with the system you can claim a 100% refund within 80 days of purchasing.
About the Author
Here are the links to both products as promised:
Profit Lance: http://tinyurl.com/yv5es9
Rich Jerk: http://tinyurl.com/27m3qs
(If you're wondering about the strange URL's - I just use them to track how many hits this article generates)
Get Your Website to Profit With the Best Affiliate Programs Available
The Internet is one of the most frequently used tools for communication today. There are over millions of people who log on to the Internet every single day. Besides, with the benefits that the Internet gives, who would not want to be a part of this information superhighway.
With the Internet, you can communicate with your family and friends through emails and instant messengers, you can purchase goods and services without leaving your own home, and the Internet is one of the most promising income generating tools that everyone can use today.
In the past, you needed products or services in order to make money through the Internet. Today however, you can make money through the Internet by using affiliate programs. This program will allow you to make a substantial amount of money out of your website and is a very good home business that you would want to get in to.
First of all, you need to know what an affiliate program is and how it works in order to fully understand how you can make some money out of it. Affiliate programs is like a joint venture where you or your website becomes a partner with another website that have already developed a product or service that they are already selling in the Internet. As a partner, your job is to direct the visitors of your website to your partner website and hope that they will purchase the products or services being offered. Your website will be like the company's marketing arm, among several.
The company you plan on being affiliated to will be providing all the necessary tools that you need in order to start the affiliate program. They will be providing the links, and some companies will provide free e-books on how you can effectively earn from affiliate programs.
The best way to profit from your website through affiliate programs is by promoting your website in the Internet. The key to success in affiliate programs is targeted traffic. This is why you should think of a product or service that you would want to promote and also a product or service that you are knowledgeable about. Think about your hobby. For example, if you like fixing cars, you want an affiliate program that promotes cars, or car parts.
In your website, you will then discuss about your hobby. Make some articles and post it in article publishing websites and also in your own site. Since your affiliate program is selling cars or car parts or even car accessories, the traffic you generate in your website will have a greater chance of clicking the link or banner of your affiliate website and buy from that website. You will then earn a commission out of the sold product.
As you can see, it is very simple to earn money from affiliate programs. However, when you are just starting out in the business of affiliate programs, you have to work hard to establish your reputation as an expert in the product or service you are promoting. The best way to do this is publish your articles about a particular product frequently. This will build your reputation in the Internet and soon, you will get that targeted traffic you have been always wanting. It is also a good idea to update your website once in a while (once a week) with tips and tricks on a particular product.
The best thing about affiliate programs is that you do not have to be in front of your computer 24 hours a day 7 days a week. All you need is a few minutes of checking up in your website and also check out your earnings in your affiliate programs. Always remember to update your website frequently in order to keep your readers and keep them buying from your affiliate website. About The Author Steven Gerber is a professional copywriter & marketing consultant. He is a protégé of Dan Lok, the World's #1 Website Conversion Expert, & in Steven's totally biased opinion simply THE BEST. You will find the latest internet marketing techniques & tricks at: http://www.websiteconversionexpert.com.
Want to make some extra money without a lot of work and hassle I have found a little program that works great. It's cheap and easy. http://www.7dollarsecrets.com/?e=yourpaypal@dklugmx5@aol.com
About the Author
Steven Gerber is a professional copywriter & marketing consultant. He is a protégé of Dan Lok, the World's #1 Website Conversion Expert, & in Steven's totally biased opinion simply THE BEST. You will find the latest internet marketing techniques & tricks at: http://www.websiteconversionexpert.com.
With the Internet, you can communicate with your family and friends through emails and instant messengers, you can purchase goods and services without leaving your own home, and the Internet is one of the most promising income generating tools that everyone can use today.
In the past, you needed products or services in order to make money through the Internet. Today however, you can make money through the Internet by using affiliate programs. This program will allow you to make a substantial amount of money out of your website and is a very good home business that you would want to get in to.
First of all, you need to know what an affiliate program is and how it works in order to fully understand how you can make some money out of it. Affiliate programs is like a joint venture where you or your website becomes a partner with another website that have already developed a product or service that they are already selling in the Internet. As a partner, your job is to direct the visitors of your website to your partner website and hope that they will purchase the products or services being offered. Your website will be like the company's marketing arm, among several.
The company you plan on being affiliated to will be providing all the necessary tools that you need in order to start the affiliate program. They will be providing the links, and some companies will provide free e-books on how you can effectively earn from affiliate programs.
The best way to profit from your website through affiliate programs is by promoting your website in the Internet. The key to success in affiliate programs is targeted traffic. This is why you should think of a product or service that you would want to promote and also a product or service that you are knowledgeable about. Think about your hobby. For example, if you like fixing cars, you want an affiliate program that promotes cars, or car parts.
In your website, you will then discuss about your hobby. Make some articles and post it in article publishing websites and also in your own site. Since your affiliate program is selling cars or car parts or even car accessories, the traffic you generate in your website will have a greater chance of clicking the link or banner of your affiliate website and buy from that website. You will then earn a commission out of the sold product.
As you can see, it is very simple to earn money from affiliate programs. However, when you are just starting out in the business of affiliate programs, you have to work hard to establish your reputation as an expert in the product or service you are promoting. The best way to do this is publish your articles about a particular product frequently. This will build your reputation in the Internet and soon, you will get that targeted traffic you have been always wanting. It is also a good idea to update your website once in a while (once a week) with tips and tricks on a particular product.
The best thing about affiliate programs is that you do not have to be in front of your computer 24 hours a day 7 days a week. All you need is a few minutes of checking up in your website and also check out your earnings in your affiliate programs. Always remember to update your website frequently in order to keep your readers and keep them buying from your affiliate website. About The Author Steven Gerber is a professional copywriter & marketing consultant. He is a protégé of Dan Lok, the World's #1 Website Conversion Expert, & in Steven's totally biased opinion simply THE BEST. You will find the latest internet marketing techniques & tricks at: http://www.websiteconversionexpert.com.
Want to make some extra money without a lot of work and hassle I have found a little program that works great. It's cheap and easy. http://www.7dollarsecrets.com/?e=yourpaypal@dklugmx5@aol.com
About the Author
Steven Gerber is a professional copywriter & marketing consultant. He is a protégé of Dan Lok, the World's #1 Website Conversion Expert, & in Steven's totally biased opinion simply THE BEST. You will find the latest internet marketing techniques & tricks at: http://www.websiteconversionexpert.com.
Wednesday, May 2, 2007
Tax Benefits of Homeownership
Buying a home can result in a big tax break every year, among other benefits.
In terms of investments, purchasing a home is probably the biggest one you will ever make. Moreover, it can be the wisest, due partly to a number of tax advantages the government has instituted to encourage homeownership. These benefits can help reduce the cost of buying and owning a home and leave you with more money when it's time to sell. Because tax rules vary based on income and other factors, you should consult an accountant or financial advisor for advice on your particular tax situation.
Deducting mortgage interest
One of the biggest incentives to owning a home is that the interest you pay on your mortgage is tax-deductible, up to a limit of $1 million. This deduction, like most other tax breaks for homeowners, applies to any kind of home. That includes a second home, as long as you spend a certain amount of time there: either 14 days each year, or 10% as much time as it's rented.
In addition, you can deduct the interest on up to $100,000 of other debt that uses your home as security such as a home equity loan. However, the amount you can deduct may be limited if the money you borrow raises your debt above the home's actual market value. This can sometimes happen when a lender extends you a loan based on more than the value of the house.
You can also deduct any amount you pay for points to reduce the interest rate of your mortgage or other loan linked to your home. In most cases, the points on a mortgage to buy or build your principal home can be deducted fully in the first year. However, if you refinance, take a home equity loan, or a loan secured by a second home, the points must be deducted over the life of the new loan. The exception is if you use part of a refinanced mortgage to improve your house; that portion of the points can be deducted in the same year.
Tax-free profits
Another major advantage of homeownership is that, in most cases, you don't have to pay taxes on any profit you make when you sell your home. The law allows you to exclude from taxes up to $250,000 in profit from the sale of your principal home -- $500,000 for a couple who file jointly. This exclusion also covers the sale of a parcel of land adjacent to your house, unless it's used for business.
There are some stipulations, however. The home must be your principal residence, and you (and your spouse, where applicable) must have lived there for at least two of the previous five years. You can only claim the exemption once every two years. If you don't meet those requirements, you may still claim a partial exemption if the sale was due to a change in your place of employment, necessary for health reasons, or due to other unforeseen circumstances.
Don't forget property taxes
You can claim property taxes you pay as an income tax deduction. This applies to both your principal home and any others you may own. Any money held in escrow to pay future taxes, however, is not deductible.
Write off your moving costs
The government allows you to write off many of your moving costs when you buy a new home if it's at least 50 miles closer to your job than your old home. To qualify, you must continue to work full-time in the general area of your job for 39 weeks during the following year. If you're self-employed and work in your home, any move of 50 miles or more will make your moving expenses deductible. However, you must also work full-time near the new location for 78 weeks during the next 24 months.
Of course, because tax rules vary based on income and other factors, be sure to consult an accountant or financial advisor about your particular situation.
http://www.homeloancenter.com/Articles/Mortgage-Advice/Tax-Benefits-of-Homeownership.aspx
In terms of investments, purchasing a home is probably the biggest one you will ever make. Moreover, it can be the wisest, due partly to a number of tax advantages the government has instituted to encourage homeownership. These benefits can help reduce the cost of buying and owning a home and leave you with more money when it's time to sell. Because tax rules vary based on income and other factors, you should consult an accountant or financial advisor for advice on your particular tax situation.
Deducting mortgage interest
One of the biggest incentives to owning a home is that the interest you pay on your mortgage is tax-deductible, up to a limit of $1 million. This deduction, like most other tax breaks for homeowners, applies to any kind of home. That includes a second home, as long as you spend a certain amount of time there: either 14 days each year, or 10% as much time as it's rented.
In addition, you can deduct the interest on up to $100,000 of other debt that uses your home as security such as a home equity loan. However, the amount you can deduct may be limited if the money you borrow raises your debt above the home's actual market value. This can sometimes happen when a lender extends you a loan based on more than the value of the house.
You can also deduct any amount you pay for points to reduce the interest rate of your mortgage or other loan linked to your home. In most cases, the points on a mortgage to buy or build your principal home can be deducted fully in the first year. However, if you refinance, take a home equity loan, or a loan secured by a second home, the points must be deducted over the life of the new loan. The exception is if you use part of a refinanced mortgage to improve your house; that portion of the points can be deducted in the same year.
Tax-free profits
Another major advantage of homeownership is that, in most cases, you don't have to pay taxes on any profit you make when you sell your home. The law allows you to exclude from taxes up to $250,000 in profit from the sale of your principal home -- $500,000 for a couple who file jointly. This exclusion also covers the sale of a parcel of land adjacent to your house, unless it's used for business.
There are some stipulations, however. The home must be your principal residence, and you (and your spouse, where applicable) must have lived there for at least two of the previous five years. You can only claim the exemption once every two years. If you don't meet those requirements, you may still claim a partial exemption if the sale was due to a change in your place of employment, necessary for health reasons, or due to other unforeseen circumstances.
Don't forget property taxes
You can claim property taxes you pay as an income tax deduction. This applies to both your principal home and any others you may own. Any money held in escrow to pay future taxes, however, is not deductible.
Write off your moving costs
The government allows you to write off many of your moving costs when you buy a new home if it's at least 50 miles closer to your job than your old home. To qualify, you must continue to work full-time in the general area of your job for 39 weeks during the following year. If you're self-employed and work in your home, any move of 50 miles or more will make your moving expenses deductible. However, you must also work full-time near the new location for 78 weeks during the next 24 months.
Of course, because tax rules vary based on income and other factors, be sure to consult an accountant or financial advisor about your particular situation.
http://www.homeloancenter.com/Articles/Mortgage-Advice/Tax-Benefits-of-Homeownership.aspx
Home Buying Tips
Purchasing a new home may have you climbing the walls, but with our help and the tips we provide below, you should be well on your way to a stress-free home purchase.
Steps to Home Ownership
Between your real estate agent and the help of our expert home mortgage team here at HomeLoanCenter.com, there is very little for you to do. In the meantime, take a few minutes to read over the 8 simple steps to owning your home.
Keys to Your Home Loan
Researching & Budgeting
Determining Your Price Range
Home Purchase Pre-Approval
Create a Wish List For Your Home
Search For a Home
Make an Offer on a Home
Lock-In Your Interest Rate
Close & Own Your Home
Researching & Budgeting
Before you begin home shopping, it helps to figure out your budget. That way there are no surprises later on, and you can fully enjoy home ownership rather than look at it as an overwhelming burden.
To determine your purchasing power, you need to consider the following things such as monthly income, monthly debts, down payment amount, loan closing costs, and your credit history. For help, you can use any of these easy calculators and tools that HomeLoanCenter.com has developed to assist you in your research:
Mortgage Calculators
Rent vs. Own Calculator
Monthly Payment Calculator
Payment Affordability Calculator
Home Purchase Tools
Home Buying FAQs
Get Pre-Approved
Find a Real Estate Agent
Determing Your Price Range
Pre-qualifying for a particular home loan amount helps your real estate agent focus your home search so you only look at homes that fit within your price range. In fact, many real estate agents require either a pre-qualification letter or a certificate of pre-approval before showing you a home. You can pre-qualify in a couple of minutes by speaking with one of our mortgage specialists, or by applying right here online. You won't have to supply any supporting documentation until you actually start the home loan process. HomeLoanCenter.com simply uses your information here to quickly determine how much you can afford to borrow so we can send you a pre-qualification letter right away.
HomeLoanCenter.com provides a no-cost, no-obligation pre-qualification letter online in minutes, or you may contact one of our experienced home loan specialists to obtain a pre-qualification letter. Get a Pre-Qualification Letter Online
Home Purchase Pre-Approval
A pre-approval certificate is the best way of demonstrating your ability to purchase a home. Pre-approval offers are also given stronger consideration by a seller than pre-qualification letters. To issue you a pre-qualification certificate, your mortgage specialist will ask you for documentation such as W-2 forms, paycheck stubs, and bank account statements, and then run your credit report to establish credit worthiness. Once that's complete, and everything checks out okay, your letter can be in your hands so you can submit the best offer for your next home.
What Documents Do I Need?
Get Pre-Approved for a New Home
Create a Wish List For Your Home
To ensure that your new home meets your needs, we've created a checklist to help you identify and prioritize features you want. With this checklist, you can also organize all the key people involved in your home purchase process. Download Home Finding Checklist
Search For a Home
Now we get to the fun part - searching for your ideal home! You can browse the homes for sale at various online websites, in the classified section of your local newspaper, visit open houses, or find a real estate agent. A real estate agent not only has access to homes not always advertised in the paper, but will help you locate homes that meet your exact price, size and other criteria. HomeLoanCenter.com can help you find a real estate agent in your area and help you earn up to $2000 cash. Learn More
About Home Purchase Loans
Make an Offer on a Home
Typically, the homebuyer or real estate agent will present an offer to the seller or their representative that includes the following information:
. The proposed offer price
. Seller concessions (if applicable)
. Financing contingencies (if applicable)
. Home inspection contingencies (if applicable)
. A specific outline of what is to be included in the sale of the home
. The "earnest money" deposit amount to be tendered with the offer
After the seller reviews your offer, it will either be accepted, rejected, or turned into a counter-offer. Any change to an offer is considered a counter-offer. An offer does not become a contract until both you and the seller (including all parties to the transaction) accept it. After acceptance, you and the seller will sign a home purchase agreement to finalize the deal.
Lock-In Your Rate
After signing a home purchase agreement, you're ready to lock-in an interest rate. This freezes your interest rate and protects you against market fluctuations for a specific time period. HomeLoanCenter.com offers instant pre-approval and same-day lock-in for 40 days. You can count on getting the best rate available from HomeLoanCenter.com.
Closing
After locking-in your rate, your team of mortgage specialists will go to work to close your home loan in conjunction with all third-party vendors. A processing specialist will schedule an appraisal and make certain that your file is complete and ready for final underwriting review. While all of this is going on, your escrow and title companies are working to gather the proper paperwork and approvals. Once all escrow conditions are met, your home loan is ready to fund, record, and close. The home is yours!
http://www.homeloancenter.com/HomePurchase/HomeBuyingTips.aspx
Steps to Home Ownership
Between your real estate agent and the help of our expert home mortgage team here at HomeLoanCenter.com, there is very little for you to do. In the meantime, take a few minutes to read over the 8 simple steps to owning your home.
Keys to Your Home Loan
Researching & Budgeting
Determining Your Price Range
Home Purchase Pre-Approval
Create a Wish List For Your Home
Search For a Home
Make an Offer on a Home
Lock-In Your Interest Rate
Close & Own Your Home
Researching & Budgeting
Before you begin home shopping, it helps to figure out your budget. That way there are no surprises later on, and you can fully enjoy home ownership rather than look at it as an overwhelming burden.
To determine your purchasing power, you need to consider the following things such as monthly income, monthly debts, down payment amount, loan closing costs, and your credit history. For help, you can use any of these easy calculators and tools that HomeLoanCenter.com has developed to assist you in your research:
Mortgage Calculators
Rent vs. Own Calculator
Monthly Payment Calculator
Payment Affordability Calculator
Home Purchase Tools
Home Buying FAQs
Get Pre-Approved
Find a Real Estate Agent
Determing Your Price Range
Pre-qualifying for a particular home loan amount helps your real estate agent focus your home search so you only look at homes that fit within your price range. In fact, many real estate agents require either a pre-qualification letter or a certificate of pre-approval before showing you a home. You can pre-qualify in a couple of minutes by speaking with one of our mortgage specialists, or by applying right here online. You won't have to supply any supporting documentation until you actually start the home loan process. HomeLoanCenter.com simply uses your information here to quickly determine how much you can afford to borrow so we can send you a pre-qualification letter right away.
HomeLoanCenter.com provides a no-cost, no-obligation pre-qualification letter online in minutes, or you may contact one of our experienced home loan specialists to obtain a pre-qualification letter. Get a Pre-Qualification Letter Online
Home Purchase Pre-Approval
A pre-approval certificate is the best way of demonstrating your ability to purchase a home. Pre-approval offers are also given stronger consideration by a seller than pre-qualification letters. To issue you a pre-qualification certificate, your mortgage specialist will ask you for documentation such as W-2 forms, paycheck stubs, and bank account statements, and then run your credit report to establish credit worthiness. Once that's complete, and everything checks out okay, your letter can be in your hands so you can submit the best offer for your next home.
What Documents Do I Need?
Get Pre-Approved for a New Home
Create a Wish List For Your Home
To ensure that your new home meets your needs, we've created a checklist to help you identify and prioritize features you want. With this checklist, you can also organize all the key people involved in your home purchase process. Download Home Finding Checklist
Search For a Home
Now we get to the fun part - searching for your ideal home! You can browse the homes for sale at various online websites, in the classified section of your local newspaper, visit open houses, or find a real estate agent. A real estate agent not only has access to homes not always advertised in the paper, but will help you locate homes that meet your exact price, size and other criteria. HomeLoanCenter.com can help you find a real estate agent in your area and help you earn up to $2000 cash. Learn More
About Home Purchase Loans
Make an Offer on a Home
Typically, the homebuyer or real estate agent will present an offer to the seller or their representative that includes the following information:
. The proposed offer price
. Seller concessions (if applicable)
. Financing contingencies (if applicable)
. Home inspection contingencies (if applicable)
. A specific outline of what is to be included in the sale of the home
. The "earnest money" deposit amount to be tendered with the offer
After the seller reviews your offer, it will either be accepted, rejected, or turned into a counter-offer. Any change to an offer is considered a counter-offer. An offer does not become a contract until both you and the seller (including all parties to the transaction) accept it. After acceptance, you and the seller will sign a home purchase agreement to finalize the deal.
Lock-In Your Rate
After signing a home purchase agreement, you're ready to lock-in an interest rate. This freezes your interest rate and protects you against market fluctuations for a specific time period. HomeLoanCenter.com offers instant pre-approval and same-day lock-in for 40 days. You can count on getting the best rate available from HomeLoanCenter.com.
Closing
After locking-in your rate, your team of mortgage specialists will go to work to close your home loan in conjunction with all third-party vendors. A processing specialist will schedule an appraisal and make certain that your file is complete and ready for final underwriting review. While all of this is going on, your escrow and title companies are working to gather the proper paperwork and approvals. Once all escrow conditions are met, your home loan is ready to fund, record, and close. The home is yours!
http://www.homeloancenter.com/HomePurchase/HomeBuyingTips.aspx
First Time Home Buyer
Being a first time home buyer brings with it many personal and financial advantages. By committing to home ownership, you have achieved a common dream, and you have earned the right to benefit from your hard work. Find out here all the ways you benefit financially from being a first time home buyer.
Save Money at Tax Time
Homeowners are rewarded by the federal government, and by many state governments. As a homeowner, you can deduct your mortgage interest and property tax obligations every April 15. And, since most of your mortgage payment goes toward interest in the first few years of home ownership, it's like the government is paying you to buy a house!
Invest Wisely
A home is one of the most secure investments you can find. The national median home price has increased steadily since 1968 when the National Association of REALTORS® started recording and reporting home prices. Even during times of recession, war and home sales declines, prices have climbed steadily upward. If you stay in your home, or keep your home for investment property, you'll likely earn some pretty significant capital gains on your initial investment!
Building Home Equity
Home equity accounts for the portion of your home or property that you actually own, and as you make your mortgage payments every month, your equity continues to rise. You can consider it as a type of savings account, where your house continues to appreciate, and your loan amount continues to decline. Your equity is that difference between the property value and your outstanding loan amount. Therefore, you actually make money as you continue to pay off your mortgage! You certainly can't say that about paying rent.
Learn More About Home Equity Loans
Home Equity Line of Credit
Home Equity Installment Loan
Establish Strong Credit
Buying a home can help people with less-than-perfect, or even bad credit, rebuild their financial standing. By making mortgage payments on time every month, a homeowner can establish another level of credit history. Timely repayments establish your reputation as a positive risk for lenders, meaning that you improve your credit every time you make a payment on time.
Gain Immediate Borrowing Power
Even if you are one of the fortunate buyers who find your dream house early in your life, the equity you build in your home still comes in handy. You can use it to secure a loan or get a line of credit to make home improvements, pay for college, finance an emergency, or even to take a dream vacation. You can even build on your homeownership experience by buying investment property with your equity. Homeownership gives you options.
About Home Purchase Loans
Financial Stability
One of the biggest rewards of being a first time home buyer is the financial stability you have. On a fixed rate mortgage, you know exactly what your payment is for up to 30 years. Even on an adjustable rate mortgage, you have a cap on your rate, and so you can figure out what your maximum possible payment would be. Renters do not have the luxury of knowing with certainty what they will be paying next year, or five years from now. Also, something many people find is that once they buy a home, everything else falls into place, financially and within the community. When you buy a home, you buy a share in your community.
Ready to Be a Homeowner? Apply Now
While buying a home may not be the right decision for everyone, being a first time home buyer does give you certain advantages. To find out whether first time home ownership is for you, try out our Rent vs Own Calculator.
http://www.homeloancenter.com/HomePurchase/FirstTimeHomeowners.aspx
Save Money at Tax Time
Homeowners are rewarded by the federal government, and by many state governments. As a homeowner, you can deduct your mortgage interest and property tax obligations every April 15. And, since most of your mortgage payment goes toward interest in the first few years of home ownership, it's like the government is paying you to buy a house!
Invest Wisely
A home is one of the most secure investments you can find. The national median home price has increased steadily since 1968 when the National Association of REALTORS® started recording and reporting home prices. Even during times of recession, war and home sales declines, prices have climbed steadily upward. If you stay in your home, or keep your home for investment property, you'll likely earn some pretty significant capital gains on your initial investment!
Building Home Equity
Home equity accounts for the portion of your home or property that you actually own, and as you make your mortgage payments every month, your equity continues to rise. You can consider it as a type of savings account, where your house continues to appreciate, and your loan amount continues to decline. Your equity is that difference between the property value and your outstanding loan amount. Therefore, you actually make money as you continue to pay off your mortgage! You certainly can't say that about paying rent.
Learn More About Home Equity Loans
Home Equity Line of Credit
Home Equity Installment Loan
Establish Strong Credit
Buying a home can help people with less-than-perfect, or even bad credit, rebuild their financial standing. By making mortgage payments on time every month, a homeowner can establish another level of credit history. Timely repayments establish your reputation as a positive risk for lenders, meaning that you improve your credit every time you make a payment on time.
Gain Immediate Borrowing Power
Even if you are one of the fortunate buyers who find your dream house early in your life, the equity you build in your home still comes in handy. You can use it to secure a loan or get a line of credit to make home improvements, pay for college, finance an emergency, or even to take a dream vacation. You can even build on your homeownership experience by buying investment property with your equity. Homeownership gives you options.
About Home Purchase Loans
Financial Stability
One of the biggest rewards of being a first time home buyer is the financial stability you have. On a fixed rate mortgage, you know exactly what your payment is for up to 30 years. Even on an adjustable rate mortgage, you have a cap on your rate, and so you can figure out what your maximum possible payment would be. Renters do not have the luxury of knowing with certainty what they will be paying next year, or five years from now. Also, something many people find is that once they buy a home, everything else falls into place, financially and within the community. When you buy a home, you buy a share in your community.
Ready to Be a Homeowner? Apply Now
While buying a home may not be the right decision for everyone, being a first time home buyer does give you certain advantages. To find out whether first time home ownership is for you, try out our Rent vs Own Calculator.
http://www.homeloancenter.com/HomePurchase/FirstTimeHomeowners.aspx
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