Category: Owning Your Home

How can I improve the value of my property? Outside of a homeowner’s control, the biggest factor is market conditions. Other important issues are: Condition of the property Specific home improvements Neighborhood stability and safety The greatest rise in home prices occurs when the economy is strong and the number… Read More

When is the best time to refinance? It depends on how long you plan to hold on to your house and if you have to pay anything to refinance. In addition, it also depends on how far along you are in paying off your current mortgage. If you are going… Read More

Can property taxes be deducted? Property taxes on all real estate, including those levied by state and local governments and school districts, are fully deductible against current income taxes. Mortgage interest and property taxes are deductible on a second home if you itemize. Check with your accountant or tax adviser… Read More

What kind of insurance do I need? A standard homeowners policy protects against fire, lightning, wind, storms, hail, explosions, riots, aircraft wrecks, vehicle crashes, smoke, vandalism, theft, breaking glass, falling objects, weight of snow or sleet, collapsing buildings, freezing of plumbing fixtures, electrical damage and water damage from plumbing, heating… Read More

Are there government programs for rehabilitation? The U.S. Department of Housing and Urban Development’s Section 203 (K) rehabilitation loan program is designed to facilitate major structural rehabilitation of houses with one to four units that are more than one year old. Condominiums are not eligible. The 203(K) loan is usually… Read More

Are condos a good investment? Condominiums have held their value as an investment despite economic downturns and problems with some associations. In fact, condos have appreciated more in the past few years than when they first came on the scene in the late 1970s and early 1980s, experts say. While… Read More