Home buying brings tax benefits
5 Ways To Take Advantage Of Strong Market
JACKSONVILLE, Fla. – With the tax deadline approaching buying a home can bring tax benefits many taxpayers may not know about. Leigh Burdett is the market manager of Home Connect TV. She joined me on the Morning Show to talk about five different benefits to purchasing a home now.
The five benefits are: pride of ownership, appreciation, tax advantages, owning before the upswing in home values and low interest rates.
Burdett said pride in ownership is coming back after the downturn in real estate values a few years ago. "Pride of ownership used to be the American way. Think about our parents, what did they dream about? They dreamed about owning a home," Burdett said.
Burdett added that it's important to buy now because prices are appreciating. "The homes in the market are appreciating. Especially you want to take a look at certain areas. Because certain areas if you want to get into certain areas, we have what we call the price get in now before the price becomes cost probitive for you to get in that area or get to get in a home.. Because prices will be going up," she said.
Burdett also pointed to the tax benefits of buying now. "Mortgage interest rates, especially for the first few years that you have that mortgage. Because you're paying interest rates and you can use those as a write off. You can also write off points if you just bought a home you can write off your points as well as in some cases you can write off your P.M.I. insurance," she added.
Home Connect TV airs on Channel 4 on Saturday mornings at 10:00 a.m.
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