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What is an HOA and is your HOA fee tax deductible?

Movoto

Owning a home comes with some great tax breaks. But is your HOA fee tax deductible? Learn more about HOAs and when you can get a tax break on your HOA fees. You know the old saying: Nothing is certain but death and taxes. What is an HOA fee used for? Is your HOA fee tax deductible?

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The Pros and Cons of Buying a House

PennyMac

Mortgage interest and property taxes may be tax deductible. Property taxes and HOA fees are the buyer’s responsibility. Buyer has full control over home improvements and upgrades. Homes frequently increase in value over the life of a mortgage. You Pay Property Taxes.

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Tips for Buying and Selling a Home at the Same Time

PennyMac

Cons: Potential for Dual Mortgages: If your current home doesn’t sell quickly, you might end up juggling two mortgages, along with other costs like utilities, taxes, homeowners association (HOA) fees and insurance. Plan for Additional Expenses: Budget for closing costs, moving expenses and any immediate home improvements.

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Home Appraisals – What Do They Look For?

D Fritz Appraisals

Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. They are also used to assess the value of the home for home improvement loans and insurance evaluations. What is a Home Appraisal and Why is it Important?

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Buying a Vacation Home: 4 Critical Factors & Expert Advice

PennyMac

Couple this with the improved job market and an upswing in home values, and you have a tidal wave of homeowners willing to invest in fixer-upper dwellings. In 2018, homeowners reported an average of $7,560 or more on major home improvements , up 17% over the previous year.