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4 Tax Breaks Homeowners Should Take Advantage!

Haydn Halsted
Mar 7 2 minutes read

1. Deducting points you paid towards your mortgage 

The points you pay on a loan to buy, build or substantially approve on your primary residents are fully deductible in the year you pay them.

2. Private mortgage insurance 

Also known as PMI. Homeowners who are making less than $100,000 per year can itemize and write it off.

You have no idea what your current home is worth

Sometimes the market is just not in your favor right now, and there might be little changes you can make that can increase the value of the home you're currently in. Get a free and accurate home value report from one of our team members if you're unsure or haven't checked your home's value in a while.

3. Mortgage interest deduction 

Probably the most lucrative. If you itemize, you can deduct the interest on loans up to $750,000 used to buy, build or substantially improve your primary residence.

4. having a home office 

If you're self employed and you work from your home, you can deduct your money making space and then that can even go towards deducting utilities and insurance.

We're here to help!

Knowing what is involved financially in selling your home can help you anticipate costs, strategize expenses, and better understand the negotiation process. 

In the end, having an idea of where your money will go helps plan your next move with confidence — a feeling that’s priceless.

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