by Jeff Pittman | Mar 4, 2015 | Homeowners
Taxes change drastically when you become a homeowner. Most importantly, there are a plethora of tax deductions that open up to you. In most cases, you need to itemize your taxes in order to take advantage of all the homeowner tax breaks. This can seem overwhelming but once you get the hang of it – and your sizable tax return – it will all be worth it. If you bought a home this year or just want to learn more about what real estate costs you can deduct from your taxes, then take a look at where you can get some money back this year. Here’s some tips on getting a grip on tax deductions. House Payment If you took out a mortgage to finance your home, you make monthly payments. You can’t deduct all of your costs, however there are several components of your house payment that you can deduct. Property Taxes – Taxes paid to the taxing authority are deductible. Usually these are paid monthly as a part of your mortgage payments so you can find the info you need on the annual statement from your lender. Although they may not be deductible by the state, these real estate taxes can be deducted on federal returns. Home mortgage interest – This is the biggest and most common deduction that homeowners claim on their taxes. Most homeowners can deduct all of their home mortgage interest. How much you can deduct depends on when you took out your mortgage, the amount and how you use mortgage proceeds. Mortgage insurance premiums – The ability to deduct private mortgage insurance (PMI) for...
by Jeff Pittman | Feb 11, 2015 | Homeowners
Home renovation can be a fun project to undertake but before you know it, it can be draining your bank account in a big way. Whether your renovation is in preparation for a home sale, a long planned expense or a spur of the moment need for change, you can pull it off without breaking the bank if you’ve got the right plan.Thanks to some insider tips from the pros at Richards Micro-Tool we’ve put together these 5 tips for planning your next home renovation. Saving money and pulling off your next home remodeling project like a pro is all in the details. Here are 5 Secrets to Nailing Your Home Renovation Without Breaking the Bank: 1. Visual Planning Before you start your project, it is important to set out a schedule. Visualize your renovation project in your mind because that is how pros do it. If you are good with the pen, you can even sketch the changes out on a sheet of paper. Whether you are going to do the entire work yourself or you are hiring a renovating professional to help you out, these draft sketches would help to put your idea across to them. This is also important because it helps you avoid surprises – and the extra costs that come with them. 2. Budgeting Make the most of your budget. You can only do this if you know what your budget is. Always keep some room for mishaps or losses when you undertake a home renovation project. Also, know what is important to you. Why did you undertake the renovation in the first place? Did you see...
by Jeff Pittman | Jan 2, 2015 | Homeowners
New Years is synonymous with resolutions and pacts to start off the year right. Loose weight, get healthy, spend more time with family, the list goes on and on. Why not make some resolutions to make your home an even better place to live? Here are 5 Bright Ideas To Spark Your Homeowner New Years Resolution. Starting with the home is a great way to make everything in your life great for 2015. Not only is it productive, it will pay out in the enjoyment you get each and every day and in the long run when (eventually) it’s time to sell. A happy, well maintained house is a valuable thing! Finally start that remodel you’ve been wanting We all have a list of things to do whether it’s a wish list that never got started or a laundry list of chores. Add in a bay window, remodel the upstairs bathroom, take out that hideous shag carpet leftover in the family room, the list goes on and on. It’s different for every homeowner but everyone has something, or a few somethings, on their list. The New Year is the perfect time to start that remodel, even if that simply means starting to save for it. The sooner you start on your home improvements you’ve been dreaming of the sooner you can savor it. So many homeowners wait until they’re ready to sell before going through with remodels and then they don’t even get to enjoy it. Do your spring-cleaning early Why wait till spring to start with a clean slate? Start by clearing away the holiday decorations and don’t stop! A fresh start for...
by Jeff Pittman | Sep 11, 2014 | Homeowners
If you’re like a lot of people, you procrastinate when it comes to home maintenance and remodels. It can throw your daily routine into chaos, it’s noisy, and it’s expensive. You might be tempted to put off home renovations as long as possible — maybe forever. However, there are times when putting off renovations can make your life more difficult and even cause you to lose money in the long run. Wondering now if you might be in need of a remodel to save yourself the heartache and even bigger bill down the road?Well if you notice any of the following in your home, then it is time to call up your favorite handyman or contractor and give your home some much needed TLC. 1. Water Damage A leaky roof, a flood-prone basement, or frequent plumbing problems should never be ignored. Not only will they cause expensive damage to your home, but they may also be signs of deeper structural problems. Any sign of a moisture problem means there are elements of your home that need to updated, ASAP. 2. Inefficient Appliances In recent years, new appliances of all kinds have become much more energy efficient than older models. Check the energy ratings of your fridge, water heater and other appliances and compare them with brand new models. If more than one appliance is notably inefficient, you are probably losing money. By switching to ENERGY STAR appliances you can save nearly 20% on your utility bills each month. They also make less noise, save water and have a longer life than standard appliances. If you were planning on renovating your...
by Jeff Pittman | Aug 4, 2014 | Buyers, Homeowners, Sellers
The moving process can quickly become messy and exhausting-especially if you are moving a lot of people and a lot of stuff. If you are preparing for a big move, there are several things you can do to lower stress levels and help the process go smoothly and quickly. Read on to get a few ideas for moving lifesavers that will keep you from tearing your hair out on moving day. For more moving tips, check out this list of 10 tips for moving with Pets. Create the Ultimate Checklist Before dragging out the boxes, stay organized by compiling a list of all things that need to be packed. It can be sorted based on things that can go immediately or things that should remain at the current home until moving day, such as certain foods and toiletries. You can organize the itemized list by room, so that you can tackle one room at a time when it moving day comes. When creating a “to-do” list for the move, try to strategize so that the list can be your guide for the order that you’d like to tackle each task. Too Equipped to Quit This might seem like a no brainer, but if you don’t have the proper supplies and equipment before the move, it will make everything infinitely more difficult. Even something simple like running out of tape will get you off schedule when you have to run to the store for more. Moving supplies include boxes, markers, labels, packing tape, bubble wrap or old newspaper. Make sure you have a dolly for moving heavier items and covers for furniture you...
by Jeff Pittman | Jun 27, 2014 | Buyers, Homeowners, Homes
According to Zillow, roughly 20-30% of all home buyers purchase properties within homeowners associations. That means if you’re looking to buy, you need to know the facts and decide whether or not owning a property in an HOA community is worth the price. What is a homeowners association? An HOA is an organization in a residential community that creates and enforces rules for all properties in the development. HOAs can be associated with condominiums, town houses or could be a single-family home community or private neighborhood. HOAs are very common among Irvine homes for sale and other communities in South Orange County. HOA rules can govern everything from parking restrictions and storage usage to architectural and design guidelines. HOA fees on average range from $200 – $400 a month. What do HOA dues pay for? The homeowners association collects monthly or annual dues which pay for community areas and amenities like parks, sport courts, swimming pools and street signs. Keep in mind that every homeowners association is different. Some are voluntary but most are mandatory and some are picky about what the members do with their properties while others are more laid back. Pros and Cons of HOAs Pros: The homeowners association pays for common areas like swimming pools, sport courts, parks and clubhouses. That means you get to enjoy a pool without having to clean it and keep an eye on chlorine levels and enjoy a semi private playground or garden without the hassle of maintenance. Some HOAs offer services like lawn maintenance to keep the neighborhood looking good 24/7. You don’t have to hire someone yourself and your...
