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Home Buying Tips
Before you make the largest purchase of your life, be sure and do your homework. There are
many precautions you should take before buying the home you've chosen. Take a look at the following
information that will help you be on the safe side when buying the home of your dreams.
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The Best Investment
Many money experts claim that a home is a liability. Others claim it as an asset. We tend to favor the latter,
knowing that most homes will appreciate in value - making it an investment. As a general rule of thumb, homes
will appreciate an average 5 percent per year. Of course, this varies depending on the current real estate market
and the area in which you live. In the past 2 years, homes in Utah have risen well over 10% in the Salt Lake Valley.
Income Tax Benefits
If you don't know already, you can deduct the interest you pay on your mortgage if you itemize your deductions on your
federal income tax return. If you're like me, and 80% of your mortgage payment each month is going toward interest, it
would be wise to itemize your deductions.
Home Inspections
It is always a good idea to hire a professional home inspector before buying a home. You will want to know
if there's anything you'll need to buy or fix in the near future. If there is, you can always make a deal to
where the seller would fix the problem or negotiate to a lower price.
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