How To Build Massive Wealth After Buying Your First Home

How To Build Massive Wealth After Buying Your First Home

I previously wrote an entire post strongly encouraging you to buy a home if you can afford to. In my humble opinion, owning your primary residence is the cornerstone of building massive wealth in the United States of America.   Now I want to explain how you build massive wealth after buying your first home to…

5 Things You Need To Know When Buying A Home With An HOA

5 Things You Need To Know When Buying A Home With An HOA

In the interest of fairness, I must let you know that I no longer live in a Homeowners Association (HOA) community. An HOA is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents. Those who purchase property within an HOA’s jurisdiction automatically become members…

How to Save Thousands With The Mortgage Interest Deduction

Over the last two years home prices have increased like never before. Since the Federal Reserve’s change in monetary policy interest rates have followed suit which is causing havoc for first time homebuyers. This ever changing real estate landscape is making the tax deductibility of home mortgage interest on your tax return more important than…

Top 5 Pitfalls To Avoid When Remodeling Your Home

The home repair remodeling industry is fraught with pitfalls and minefields. The following are the five most important aspects to be aware of if you want to save yourself time, money and pulling your hair out. 1. The industry is truly “the wild west”. Many contractors have no education, background or experience in the job…

The Amazing Tax Benefit of Home Ownership- What is it and how does it work? (Personal Residence Exclusion)

The Amazing Tax Benefit of Home Ownership- What is it and how does it work? (Personal Residence Exclusion)

You must understand this tax rule as a homeowner! Your home has one of the most far-reaching tax benefits in the entire Internal Revenue Code. A gain on the sale of your personal residence for a single individual is excluded up to $ 250,000 and $500,000 for a married couple. This means that these amounts…

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