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What is the return on newly constructed versus pre-existing homes? Although investing in a brand-new community may appear riskier than buying a property in an established neighborhood, any gain in a home's value depends on the same variables: neighborhood quality, local economic growth...
How can I cut closing expenses? According to studies, closing costs—which can represent an average of 2 to 3 percent of the overall cost of a home—are frequently more expensive than many purchasers anticipate. However, there are some ways to cut costs...
What are the benefits and drawbacks of expanding or purchasing new? Consider these factors before deciding whether to buy a bigger house or add on to an existing one: * How much cash is on hand, either from cash reserves or from a home repair project...
Do you have to use a real estate agent to purchase HUD homes? A US Department of Housing and Urban Development property can only be acquired by employing an authorized real estate broker. Up to 6% of the sales price will be paid by HUD as the broker's commission...
Should my house be inspected? Yes. Purchasing a house "as is" is a dangerous move. Major home repairs can cost thousands of dollars. Roof, plumbing, and electrical issues represent important, complex systems that are expensive to repair. How can I locate a...
Can you purchase houses at a discount? An investor who makes deal buys typically looks at many more homes than the average buyer, who might inspect five to ten before placing an offer. Finding a true "deal" requires a lot of perseverance, according to the majority of experts...
Are second residences' taxes deductible? If you itemize your deductions, you can deduct mortgage interest and property taxes on a second residence. For more information, consult your accountant or tax advisor. Are impound accounts required for all loans? When applying for an FHA or VA loan,...
Where can I find details on IRS publications? Several real estate publications are released by the Internal Revenue Service. The order is given as follows: Moving costs, selling your home, residential rental property, depreciation, tax information on partnerships, residential rental property, residential rental property, basis of...
How much information is required for my real estate agent? According to real estate professionals, the more information you provide, the stronger your position will be in any negotiations. Your level of trust in an agent may, however, be influenced by their legal obligations...
Can I employ a realtor to buy a new house? Yes, but buyers should be aware of the distinctions when working with developer-employed sales agents as opposed to conventional real estate agents. Builders frequently demand the presence of an outside agency, and...
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