These pages will assist you to have all the necessary information ready when purchasing your property. Each button will open a new window. Tax Advantages Property taxes and qualified home interest are deductible on Schedule A, for itemized deductions. The largest investment for most people is their home. Over the past 20 years, investments in homes have far outpaced inflation.
Homeowners build equity and, in most states, can borrow against it.
Tax Benefits Section 1034 of the IRS Code allows a homeowner to transfer the gain from one principal residence to another if the replacement is purchased within two years prior to or following the sale. If the new home costs at least as much as the adjusted selling price of the existing home, it is not necessary to actually re-invest the cash equity from the home being sold to defer paying income tax at that time. As a member of the MLS, I can show you any property. If you should see an ad in the paper or a sign in a yard, call me to find out the information. If you want to see it, I'll show it to you.