Building a new custom home can be a great way to truly make your house YOUR home. But depending on the amenities that you choose, it can also come with a high price tag. According to Home Advisor, the average cost of building a new home in 2020 was just over $300,000. So, how much [...]
As a homeowner in Florida, it is important to understand property taxes, as well as how much you owe each year. While the Sunshine State doesn’t tax income at the state level, there are other tax obligations that Floridians have – including those that are levied on real estate. For example, if you are the [...]
Now that we’re fully entrenched in the new year, tax time is right around the corner. And, if you’ve been considering a new home, 2020 could be a good year to make the move – especially if you’re a fan of paying less in income tax. The Tax Cuts and Jobs Act that was passed [...]
Building a new custom home can require a long list of expenses, including your down payment, permits, insurance, and construction costs. Unfortunately, most of the expenses that pertain to building a new home are not deductible on your taxes. But that doesn’t mean that you can’t get at least some type of tax break on [...]
If you've been thinking about designing and constructing the home of your dreams, then you are likely aware that there can be a long list of potential expenses. But did you also know that you may be able to deduct some of the related expenses on your tax return? One area where you could see [...]
If you're considering the purchase of a new home - including a newly built custom residence - you may find that there are some areas of the tax law going forward that could affect you and your finances. For instance, for many years, the interest deduction on home mortgages has been a key tax incentive. [...]
Regardless of whether you purchase an existing home, or you opt to move forward with building a new custom home, in most cases, your house is usually the largest purchase that most people make. With that in mind, there could be some tax breaks available to you if you are building a new custom home. [...]