What Could You Stand to Gain by Owning Real Estate? Pt. 6

In today’s final installment on the benefits of owning real estate, 
I’ll discuss the tax benefits associated with homeownership

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Today’s discussion is the final installment in our six-part series about the advantages of owning real estate. If you’d like to brush up on our previous videos, visit our blog to watch parts one through five.

On top of all the other benefits discussed, owning real estate affords you a range of tax-related benefits. Many people are concerned with how the new laws regarding tax benefits on the interest paid on one’s house will affect their investments, but those legal changes shouldn’t affect you in Reno.

The interest you pay is deductible on your taxes—for more thorough detail on how that works, consult your CPA. You'll receive a statement from your lender, after which, all you have to do is use that statement to write off your interest on your tax return.

Further still, everyone needs to live somewhere. As long as you’re making monthly payments to live somewhere, why not pay your own mortgage down, rather than a landlord’s?

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On top of all the other benefits discussed, owning real estate affords you a range of tax-related benefits.

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Ideally, you’ll live in a house for at least five to seven years, during which time you can pay a good portion of your loan down—or more, if you pay extra each month. If you look at your 30-year amortization schedule, you’ll be amazed at how much money you save in interest payments by making an extra payment every year during the life of your loan. Also during that time, your home will appreciate in value, leaving you with a big chunk of money.

There are more benefits to being a homeowner, and if you’d like more specifics or have any questions, reach out to us. We’d be happy to sit down and talk about how you can benefit from owning real estate. We hope to speak with you soon.

The Importance of Maintaining a High Credit Score

Why is it so important to boost your credit score? Sign up for my monthly mailer to get more information.

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For those of you who receive the item of value that I send out each month, I’ve recently sent out a letter detailing the importance of having a good credit score, indluding tips you can use to boost yours if it isn’t where it needs to be.

By now, most everyone has heard about how the Fed has increased interest rates. That means when you’re getting a loan for a home mortgage or if you have a credit card, costs and payments could become more expensive.

This is why it’s so important to have a good credit score, because there are some perks to simply having a higher score. For example, you can get better home loans and a lower interest rate on a car loan or student loans. The benefits remain even if you’re not planning to apply for a loan. Additionally, a good credit score can also make it easier to get hired for certain jobs.

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A good credit score can also make it easier to get hired for certain jobs.

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If you haven’t received my mailer yet and would like to be added to my list, we’ll need your home address, email address, and the best telephone numbers to reach out at. If we have that information, we can also send this information to you electronically.

If you have specific questions or if you’re looking for information, feel free to reach out to us. We would be happy to help you.