Living Space - The More the Better!

"Apartment Complexes" and "Rental Communities" are commonly more interested in creating the maximum number of income-producing units they can squeeze in than they are concerned in creating comfortable space for their tenants and their tenants’ personal possessions (bicycles, vehicles, winter clothes, storage boxes, etc...) Lets face it, business is business and every square foot they can profit on - they will use!

"Condominiums" are great for security and generally offer more amenities (swimming pool, recreation room, exercise rooms...) but you can be sure there will be an additional "Maintenance" or "Association Fees" as well as limits placed on your lifestyle.

Once you purchase your own home you will find that you have more space to breathe in, more space to store your stuff in, no one telling you how loud to keep the TV or radio, where you can and can't park, and you most probably will not have to share a laundry room with everyone else.

Income Tax Advantages

All of the interest portions of your mortgage paid as well as your yearly property taxes you pay during the year can be deducted from your gross income. This also helps to reduce your taxable income thus reducing your overall tax obligation.

Confused? Don't be - let us assume your initial loan balance on your home is $150,000 and is financed at an interest rate of 8%. During the first year you would pay $9969.27 in interest alone. If your first payment is on January 1st, your taxable income would be nearly $10,000 less (due to the IRS interest rate deduction).

Again, whatever property taxes you pay during the year may also be deducted from your overall gross income again reducing your overall tax obligation.

Benefits of Using A Buyers Agent:

Finding an agent who represents you and not the seller is important, especially during the negotiation process of purchasing a home. The agent should be actively finding you potential homes and keeping you informed of the entire process as well as negotiating furiously on your behalf and answering any and all of your questions with competence and speed.

Did you know... if you are working with a buyer's agent he or she is required to not tell the seller of your top price. He or she is will be focused on getting you - the Buyer - the lowest asking price available on your new home.

Did you know.. When using a buyer's agent, you will see typically see more properties.
Here's why --> Not only are they plugged into their local Multiple Listing Service but they will also be seeking homes that are listed as "For Sale By Owner" - it is their mission to find you a home - not to find a seller a buyer.