How Does Buying A Home Affect My Taxes?
We get a lot of questions about Real Estate in Santa Clarita. This week we’re answering your question how does buying a home affect my taxes?
A: There are a number of tax benefits to buying a home, but filing your taxes can be a lengthy process if you aren’t used to itemizing and keeping records. You can deduct your mortgage interest payments, as well as property taxes, points paid at closing, interest on home equity loans, lines of credit, and other items. A tax professional can help you decide what to itemize and deduct.
Buying a home for the first time can be somewhat overwhelming. Working with an experienced real estate agent can help you navigate the world of real estate and address your questions. If you are considering purchasing a home, connect with us here, or at 661-505-1051.