Showing posts with label homeowners. Show all posts
Showing posts with label homeowners. Show all posts

Monday, December 16, 2013

4 Tips To Keep Your Home Safe During The Holidays




The holidays are a fun and exciting time, but like any other time of the year, they come with special security considerations. Be mindful of these few tips during the season and you’ll be prepared for a time that’s joyous the whole way through.


Don’t Advertise That You’re Away
The biggest giveaway is of course interior or exterior lights left burning 24 hours a day. Any reputable hardware store will be able to supply inexpensive timers that can be fitted not only to light switches but also to electronic devices such as televisions. Exterior lights that detect motion are also an excellent deterrent.


A build-up of uncollected newspapers, mail and advertising fliers are also a give-away; ask a trusted friend or neighbor to clear your mailbox while you are away.


Likewise, if you are listed in the telephone directory, do not leave a message on your answering machine informing callers that you are away. The message that burglars will receive is that they have plenty of time to break in and clean you out.


Update Your Insurance Policies
Another important consideration before you embark on a year end holiday, is to ensure that your insurance polices are all up to date – personal as well as those on your property. Take into account any additional value you may have added to your home in the form of home improvements or renovations. Many home owners update their homes in preparation to sell yet forget to add those updates to their policies. Make sure those are covered in case anything should happen while you’re away.


Keep Up With Old Security Habits
However, vigilant year-end safety and security measures also apply to homeowners who will be home for the holidays, as burglars often keep an eye on potential targets by looking out for any change in routine that occur at this time of the year. These changes may be sending dangerous signals to those up to no good.'


For example, many homeowners have holiday visitors and feel that they need to change their security routine to accommodate their guests. So while it may seem like too much trouble to teach a visiting granny how to use the alarm system, do it nevertheless. The same applies to younger visitors who plan to party and arrive home late: do not be tempted to leave the alarm off to accommodate them. Burglars count on home owners letting their guard down at this time of year, and view homes with visitors as potentially easy targets.


Be Careful What You Throw Out
Be careful, too, as to how and what you put out with the trash. Expensive gifts usually come in highly attractive (and often large) packaging, informing criminals that a valuable new item is now inside the home. Cut up large packages and dispose of the evidence discreetly.


The holidays are meant to be enjoyed, these quick tips aren’t meant to drag down the fun of the season but instead help prevent any holiday-related incidents from happening. Follow these quick tips and you’ll be set to go! For more tips and safety ideas, go here.


Thursday, March 21, 2013

8 Tax Deductions for Homeowners

If you are not finished with your taxes yet, you are not the only one! We all want the best tax return we can get, right? 

Are you a homeowner? If so, you need to know what tax write offs you are eligible for. Whether you purchase a home last year, or 20 years ago you need to make sure you are not missing out on any deductions.

In an article by FoxBusiness.com, we found some good tips and information for you!

"The amount of tax breaks depends on the size of your mortgage and your income bracket." explains Bob Walters, chief economist at Quicken Loans. For example, "if you have $110,000 loan and pay $4,000 in taxes and the standard deduction is $12,000 you're not exceeding it."
*Ask your tax advisor if you qualify for this deduction.

Here are a few tax deductions to look out for...

- Home Mortgage Interest Deduction

Another tax deduction for homeowners? Home mortgage interest deduction. With this deduction you are allowed to reduce your taxable income by the amount of interest paid on the loan each year.

"Mortgage interest is the biggest deduction for a homeowner," says Les Kramsky, executive vice president and general counsel to title insurance agency Silk Abstract Company. "It's a big tax advantage for homeowners." 

- Property Taxes

Property taxes here in Central Ohio will vary by city, by school district and even by neighborhood. Nobody wants to see their property taxes in the $10,000 or $20,000 and sometimes even higher. But the perk is that you could see a substantial tax write off. Talk to your tax advisor about the details!

- Closing Costs - Mortgage Points

Did you buy a home last year? If so, you might be eligible for a tax write off. Specifically let's talk about mortgage points. Your lender might have asked you during your home buying experience whether or not you wanted to "buy points". This is translated to lowering your interest rate over the life of your mortgage. Each point is a percentage, and the amount you paid may be eligible for a tax deduction.

There are more perks to buying a home than you realize! Talk to your tax advisor about all of the tax deductions you may be eligible for from buying a home last year.

- PMI - Private Mortgage Insurance

Did you take out a mortgage between 2007 and 2011? If so, you may be eligible for a tax deduction if you are paying PMI. "This deduction no longer exists, but if you took out your mortgage between the years 2007 and 2011 you can deduct your PMI premiums even if you are paying them after 2011," says Kramsky.

Other deductions to watch out for...
- Construction Loan Interest
- Home Improvement Loan Interest
- Home Office
- Selling Costs

Of course these examples just scratch the surface. Make sure you talk to your tax advisor to see what you are eligible for to make sure you do not miss out on any deductions.