Periodically, you need to rid yourself of things that are taking up you time and space to make room for more of what you like and want. There’s a frequently quoted suggestion that if you haven’t used something for two years, maybe it isn’t essential in your life. If you have books you’ll never read … Continued
If you’re at an age where you need to be taking Required Minimum Distributions (age 70.5) from your IRA, a qualified charitable contribution and some planning may allow you to lower your overall tax liability. Let’s say that a couple’s 2019 itemized deductions include $8,000 in property taxes, $4,400 in interest and $20,000 in charitable … Continued
In the time that it takes to write one check, you can set it up with your bank and never have to do it again. You won’t have to write checks, envelopes or buy stamps anymore. You’ll save time, money and benefit in other ways too. Never be late … avoid late fees and protect … Continued
Checklists work because they contain the important things that need to be done. They provide a reminder about things we know and realize but may have slipped our minds as well as inform us about things we didn’t consider. Periodic attention to these areas can protect the investment in your home. Change HVAC filters regularly. … Continued
Single family homes offer the investor an opportunity to borrow large loan-to-value loans at fixed interest rates for long terms. Lenders will loan 75-80% of the purchase price at 5.5% to 6.5% interest rate for thirty years. Compare that with other popular investment alternatives like precious metals, commodities, stocks, and mutual funds and it will … Continued
Lenders typically quote mortgages at a market rate but can offer a lower interest rate loan if the borrower is willing to pay points up-front which is considered pre-paid interest. These points are generally tax deductible for the year paid when the borrower pays them in connection with buying, building or improving their principal residence. … Continued
For a short time after the housing crisis a decade ago, some homeowners thought the value of home is a place to live rather than an investment. A home certainly has an appeal as a place to call your own, raise your family, share with your friends and feel safe and secure. It can be … Continued
Affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30-year term. The payments are lower, easier to qualify for the mortgage and they can always make additional principal contributions. However, for those who can afford a higher payment and commit to the 15-year term, there are three additional reasons: lower mortgage interest … Continued
Fear of the unknown is common among all ages. Kids, at night, imagine monsters in their closets or under their beds and adults are unsure of what the future might bring. It may be natural for first-time buyers to be unsure of the process because they haven’t been through it before but even repeat buyers … Continued
Most parents don’t put a lot of credence in the statements “Everyone is doing it” and “No one does that anymore.” They’ll dig a little deeper and get the facts of the situation. Interestingly, when it comes to buying a home, similar common myths continue to prevail surrounding what it takes to buy a home. … Continued