One of the biggest benefits to buying a home is that of the tax savings for you. You own a home now, so there’s no more monthly rental payments going out the window. All of your mortgage payments are going towards your financial future. There’s many different types of tax breaks that you can get from owning your home. Many home improvement projects that allow you an extra tax break are hiding right in the fine print! Tax breaks are known as “incentives.” These incentives are essentially what help people to get important things in their homes done without having a order placed on them. There are some hidden things that you may not have known could be used as tax write-offs.  

Energy Savings


From putting solar panels on your home to replacing appliances, there are certain tax breaks that you can get for making your home more energy efficient. There are lifetime caps on these deductions, but on a certain year, you’ll be able to save some extra money on your taxes. Some of the deductions that you might be able to claim include:

  • Air-source heat pumps
  • Biomass stoves
  • Central AC units
  • Water heaters
  • Certain energy-generation systems which include an array of things like water heaters, solar panels, fuel cell systems, wind turbines, and geothermal heat pumps.

You can deduct somewhere in the neighborhood of 30% of the cost of these improvements to your home. It doesn’t hurt to check on the updated standards that are introduced each year by the government. Your accountant can help you to understand your own deductions a bit more in-depth. 

Modifying Your Home For Medical Needs

If you need to modify your home in order to accommodate medical needs, you may be eligible for a tax deduction. The modifications must not increase the value of your home and be medically necessary. If the doctor tells you to lose weight and you put in a home gym, you can’t deduct that. If you need a ramp put in your home for wheelchair accessibility, then that can be deducted. The cost of the modifications generally has to exceed 10% of your adjusted gross income, or 7.5% if you’re over the age of 65. 

What’s Not Deductible

If you have done some major remodeling around your home, it’s sad to say that these improvements probably aren’t tax deductible. On the positive side, you will get a bigger return on your home when you do decide to sell it. This could help you to reduce any capital gains tax that you may have to pay on the sale of the home.

Remember that when you make improvements to your home, you’re doing it first for your own needs. Any tax write-offs that you may get are merely a bonus.

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Date: 07/22/2018 Time: 12:00 PM to 1:30 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

Beautiful Colonial in great Wellesley neighborhood! This spacious Colonial has over 5400 square feet of living space on 4 finished floors.There are 6 bedrooms and a finished basement with playroom and exercise room. Very private flat backyard great for playing and an in ground salt water pool. Home was built in 2004 with highest quality construction. Many recent improvements include new $22,000 heating system 2 months ago, new $9,000 refrigerator, new pool motor, new $14,000 pool cover, salt water pool is heated, updated home security system, house painted in 2017 and all new screens for porch. This home is a wonderful opportunity for a family that wants a large amount of living space!

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Employing a real estate agent offers an ideal first step for those who want to buy the perfect residence, and for good reason.

With a real estate agent at your disposal, you’ll be better equipped than other homebuyers to find a wonderful house at a price that matches your budget. Plus, your real estate agent will be able to help you navigate each stage of the homebuying process.

What should you expect after you hire a real estate agent? Here are three things that will happen:

1. You’ll narrow your home search.

What are you looking for in the perfect house? Ultimately, you’ll need to narrow your home search to ensure that you can discover your dream residence without delay.

Luckily, your real estate agent will allocate the necessary time and resources to help you narrow your home search. By doing so, you’ll be able to move one step closer to finding a first-rate home that you can enjoy years to come.

2. You’ll visit a wide range of high-quality houses.

Your real estate agent will set up home showings and keep you up to date about open houses in your area. That way, you can stay on top of the housing market, browse a broad array of top-notch residences and find one that suits you perfectly.

As you browse houses, don’t forget to provide your real estate agent with questions. This will enable you to make a more informed decision about how to proceed following a home showing or open house.

Furthermore, your real estate agent wants feedback to guarantee that you can explore houses that correspond to your lifestyle and budget. And if you view a home that fails to meet your criteria, let your real estate agent know immediately. This will make it easier for your real estate agent to find houses that meet or exceed your expectations, and as a result, may help you accelerate the homebuying process.

3. You’ll submit your first offer on a home.

If you’ve reviewed a variety of houses and find a residence that you would like to purchase, now is the perfect time to submit an offer.

Your real estate agent will offer recommendations to ensure that you can submit a competitive offer on a house. In addition, this real estate professional can provide details about how long a home has been available, if a home seller has lowered the price of a residence recently and other factors that may impact your initial proposal.

Submitting an offer on a house can be stressful, but you can always reach out to your real estate agent for support. Your real estate agent will keep you up to date about whether a home seller accepts, rejects or counters your offer. And if you receive a “Yes,” your real estate agent can help you take the next step toward acquiring your dream home.

Before you begin a home search, hire a real estate agent – you’ll be happy you did. A real estate agent can simplify the homebuying process and help you achieve your homeownership dreams.

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Date: 07/14/2018 Time: 12:00 PM to 1:30 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

Beautiful Colonial in great Wellesley neighborhood! This spacious Colonial has over 5400 square feet of living space on 4 finished floors.There are 6 bedrooms and a finished basement with playroom and exercise room. Very private flat backyard great for playing and an in ground salt water pool. Home was built in 2004 with highest quality construction. Many recent improvements include new $22,000 heating system 2 months ago, new $9,000 refrigerator, new pool motor, new $14,000 pool cover, salt water pool is heated, updated home security system, house painted in 2017 and all new screens for porch. This home is a wonderful opportunity for a family that wants a large amount of living space!

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