Building, Buying & Owning a Home

The National Association of Home Builders (NAHB) has many excellent consumer articles on everything you need to know about buying, financing, building, maintaining or remodeling your home.

Buying a home is one of the smartest purchases you can ever make. One reason is that home ownership has many positive tax implications. The three most important sources of tax savings for home owners are the:

  • deductions for mortgage interest
  • deductions for real estate taxes
  • capital gain exclusion for the sale of a principal residence

Conditions are good to purchase a home. Here’s why:

  • Interest rates are at historical lows
  • Home prices have decreased in some areas.
  • There is a good inventory of homes in some markets to choose from.
  • FHA has excellent low down payment loan programs for qualified buyers.

 

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