The real estate market has certainly had its ups and downs since the late 2000’s. While Millennials continue to flock to cities to rent, aspiring homeowners are facing a limited inventory of available houses on the block with median prices on the rise.
But don’t let the real estate news reports scare you. By being proactive in your search and having the right team of an experienced realtor and a CPA to help with budgeting and tax implications, your next home can soon be within reach. Here are some suggestions to give you an edge on landing your dream home in the current seller’s market:
Address the Tax Implications of your New Home.
If you find your perfect new dwelling and are even more fortunate to have the seller accept your offer, it’s time to be aware of the tax facts that come into play when purchasing real estate. From property taxes to mortgage interest and whether or not to itemize deductions, it’s a good idea to refer to your CPA to address the tax issues and planning related to your new home. Keep reading about the tax impact of buying a home →
Best of luck on your search. There are many resources available to you to navigate the home-buying waters. Spend some time finding the resources that work best for you and your situation.
Contact us for guidance and application to your individual situation →
The information contained in this newsletter is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance. For more information or for assistance with any of your tax or business concerns, contact our office at 856.667.4100.
Empowering business owners and individuals in South Jersey and Philadelphia to feel confident through proactive accounting and advisory solutions.