Tag Archives: homeownership

Tax Benefits of Homeownership

One of the benefits of owning a home is that the IRS and the state government allows you to deduct the mortgage interest and property taxes from your annual income tax return. There are of course certain limits on the amounts that you can deduct. When you file your federal IRS form 1040, the mortgage […]

How Much Does Home Maintenance Cost

Any home requires work done in order to keep and maintain it. Maintenance costs can be a little hard to budget for because you never know when something like an electrical problem or a plumbing problem can arise. However, there are other maintenance costs such as gardening, painting etc. which can be expected and budgeted […]

How Much Does Mortgage Insurance Cost

It is unlikely that any mortgage lender will finalize the mortgage long before making sure that you have adequate insurance cover. This is not because the mortgage lender has any deep love for you but only because he wants to safeguard his own interest. Mortgage lenders have realized from the experience that in certain situations […]

How Much Do Property Taxes Cost

If you own a property you are liable to pay property taxes as well. Paying taxes is never pleasant and paying property tax can be especially taxing because people feel that they have enough taxes to be aggravated about such as all the federal and state income and sales taxes. However, you should know that […]

Cost of Homeownership – Mortgage Payments

Before you set out to buy a home, one of the most important questions that you must ask and answer is how much can you afford to spend. In order to answer that question accurately, you need to get a fair idea of your income and expenditure. You need to figure out your long-term financial […]