Tax Benefits of Owning a Home

Are you new to homeownership? If you aren't aware yet, there are many tax benefits of buying a home at the Lake of the Ozarks. Since it is that time of year, you may be curious about the tax breaks you are about to receive. As your trusted real estate agents in Sunrise Beach, MO, we want to be sure you are aware of the tax benefits of owning a home. Take a look below to learn more!

Property Taxes

The taxes you pay each year for the property you own can be deducted from your taxes in 2017. The taxes are typically built into your monthly payment, so you may not even realize you are paying it. It's a nice surprise to be able to reduce this from your taxes at the end of the year.

Home Mortgage Interest

If you have a mortgage loan, you pay interest on your property each month. This total adds up throughout the year. A portion of that interest you pay can be a tax benefit come tax time. It's a great way to take advantage of the interest you pay & use it for a tax break.

Energy-Efficient Upgrades

There are tax incentives for energy-efficient upgrades made to your home. A credit may be added to your tax total if you make these type of updates to your home. Solar electricity upgrades and energy efficient appliances are a few ways to take advantage of this tax break.

Interest on Home Equity Line of Credit

If you take out a home equity line of credit, the interest you pay on that credit line is available for tax deductions. A portion of the interest you pay on this can be deducted from your taxes at the end of the year.

Age In Place Improvements

If you have a medical reason, updates to your home to better suit an older homeowner can be tax deductible. Grab bars in the bathroom, a wheelchair ramp, as well as widening doorways for easy access are all examples of tax breaks you can receive to make your home more accessible.

A Home Office

If you work from home, your office equipment can be deducted on your taxes. Computers, office furniture, and home equipment needed for your job are just a few examples of what can be of tax benefit for you, the homeowner.

Now that you know about all of these potential tax breaks for homeowners, you are ready to take advantage. If you don't own a home yet, now's the time to find the perfect property for your family. Give Eagle's Nest Realty a call today to start your home search at the Lake of the Ozarks! We look forward to helping you find the ideal space for you and your family!


Call (573) 374-0769 to schedule a showing today!

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What to Expect During a Home Inspection

You've made an offer on a home and it's been accepted... now what? A number of things need to take place before you can close on the property. Your trusted real estate agents in Sunrise Beach, MO are here to dive a little deeper into one of the steps that will need to occur. A home inspection may be performed on the property in which you intend to purchase. This can help all involved parties know about the condition of the home and if any repairs are necessary. If you plan to buy a home at the Lake of the Ozarks, a home inspection may be in your near future! Check out what occurs below in order to be prepared when the time comes.

The purpose of a home inspection is to give the buyer and seller a "check-up" of the property. It's important to know exactly what you are getting, when buying a home at the Lake of the Ozarks. An inspector or team of inspectors will come to look around the inside and exterior of the home being sold. Many home transactions will have a contingency clause that depends on the home inspection. This can give the buyer or seller a way to back out of the deal, if something unexpected is reported in the home inspection.

Interior

When the inspector is inside the home, there are a TON of items they will address. From checking each electrical outlet and light switch to ensuring the appliances are in working order, it's their job to make sure all the major home functions are working properly. All plumbing and faucets will be checked, as well. An HVAC system will be inspected to ensure it is up to standard. All windows and doors will be checked for security and drafts too. Any damage to the structure will be noted, as well. Depending on the size of the home, this tedious process can take hours to complete.

Exterior

When an inspection is done of the exterior, the entire outside of the home will be looked over to ensure it is stable. The foundation will be inspected to ensure it is sturdy and in good condition. Exterior decks and any outdoor home systems will be looked over, as well. The purpose is to ensure the home is stable for the current and next owners, alike. The roof is another piece of the exterior inspection that will take place. From shingle condition to security of the gutters, the entire roof will be looked over to ensure any damage or other issue is reported.

Add On Tests

Many homes around the Lake area are on a septic system, versus city supply. A septic inspection can be performed to ensure the entire system is in proper working order. Another popular test is a radon detection test to determines if the odorless radioactive gas is present in the home. There are a number of other tests that can be added on to a home inspection, as well. It's best to describe the property to your inspector and see what they recommend.

Report

After the inspection has concluded, a lengthy report will be put together for review of both the buyer and seller. This helps to give everyone an idea of the property report and what items should be repaired. At this point, the buyer OR seller can make further negotiations on the purchase of the home. For instance, many buyers will make a counter to the agreed upon offer to add in any repairs that may be needed.

Now that you've hopefully learned a little something about the home inspection process, you're ready to get started with your Lake of the Ozarks home search. If you're thinking of buying land, a single dwelling home, or a condominium, Eagle's Nest Realty is here for you. We can help you find exactly what you're looking for when it comes to property at The Lake. Give us a call today to see how we can help you find your dream home at the Lake of the Ozarks!


Call (573) 374-0769 to schedule a showing today!

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Reasons to Move in 2017

As we ring in the new year and get excited for a fresh start to 2017, many people make goals or resolutions to accomplish in the following year. If finding a new home for you and your family is on your resolution list, get a head start on accomplishing that goal! Your trusted real estate agents in Sunrise Beach, Missouri are here to help you find the right home to meet your wants and needs. If you need a little convincing that making a move in 2017 is right for you, check out the reasons provided below, by Eagle’s Nest Realty.

For a Fresh Start

It is healthy to purge your items and have a fresh start for the new year. Why not go through that process while moving into your new home? When packing your boxes for your home, you will have a great opportunity to rid yourself of unnecessary or un-utilized items that clutter your home. The best way to de-clutter your space, is to move! Once you get into your new home, you can unpack and keep your items organized.

Ideal Market Conditions

The current real estate market at the Lake of the Ozarks is on the climb. With the potential for a rise in interest rates, a number of people are selling their home now. Take advantage of the number of listings to find the right location for you and your family. Along with a number of people selling, the buyers on the market are serious, making better conditions for selling your current home.

Space for Family

Whether you are looking for a bigger space or waterfront property for your family to enjoy, we can help you find the right home for your wants and needs. If you want to give your entire family a fresh start this year, consider moving to a new home. Your extended family may even be impacted in a positive way with your move. You may find a home with a larger living space or an additional bedroom, for out of town guests – like your family. To have an inviting home for your entire family to congregate, purchase a new space!

Entertain Friends

If you have been wishing for a larger space in which you can entertain friends, now is the perfect opportunity. Simply let us know what kind of entertaining space you are looking for and we can help you find the right home to meet your social needs. If spending more time with friends is on your resolution list, a new home may help you accomplish that goal!

Now that you have read about these great reasons to move in 2017, you are ready to find a new home at the Lake of the Ozarks. To start your home search, contact Eagle’s Nest Realty today! We would be pleased to help you find the right location in which your family can live. If you are interested in buying a home at the Lake of the Ozarks, call us at 573-280-0769!

Call (573) 374-0769 to schedule a showing today!

Eagle's Nest Realty, Inc.                                               Like Us On Facebook

Bill & Sky Johnson                                                             Follow Us On Twitter

33431 Evanston Road                                                          Find Us On LinkedIn

Sunrise Beach, MO  65079                                                     +1 Us On Google+