Home Improvements That Can Add Value to Your Property

The ideal thing to maintain your house’s value is to merely take good care of your home. Keep it orderly as possible. Have it painted, free of infestations, in good condition, with up to date electrical and plumbing systems. Even in a hot real estate industry, you will definitely be ahead of the rest when selling your house if it is in good repair compared to one that has evident physical problems. Siding, windows, roof, walkways, driveway and garage, all are expenses in maintaining a house that can pay you back at selling time if performed properly and in keeping with the rest of the neighborhood.

Some individuals often ask if they must add on a room, expand, renovate, put in a pool, upgrade the kitchen facilities, put in new comfort rooms, and other repairs. The answer is absolutely yes! If that is what you desire. Just be cautious about spending over your budget for improvements since there can be a tendency that home improvements do not always pay off.

Hence, you have to know your budget for the renovation.

Take this as an example; kitchens are normally a huge selling point for a house. If a buyer has an option between two similar houses, and one kitchen has high end facilities, layout, and high quality counter tops and cabinets, while the other one has not been even upgraded for almost 5 decades, can you guess which house will most likely sold first. The more high end it looks, the more buyers get attracted to it and eventually acquire the property. However, if the kitchen was “over-renovated” for the community, you can find that buyers for this certain property are not inclined to spend top dollar for such upgrade.

Most people are finding for more than one comfort room when they look for a home.

Even a half bath can transform an old boring house into an attractive one, if it has a convenient location in the house. If your property is an older house in a place where a lot of people have expanded or built new houses, putting in the extra bath, and using some good quality materials that will definitely pay you back.

Nowadays, homeowners prefer to have at least two car garages. It is not a problem if you have just one car garage or carport that can not be extended, but be aware that for some buyers, garages are not simply a space for old stuff-they want to park at least one car there, and having the garage orderly and clean speaks well of the house.

If you happen to be living in a community where pools are common, and you want to give one to yourself, by all means, you can have it done. Well built and maintained in-ground pools are mostly considered an asset than above ground pools. If you are living in an area where pools are nowhere to be found, put one in for yourself-make sure that it is of good quality and with proper maintenance.

Potential buyers are spotting for the best deal they could get. Majority of them prefer to have a well maintained home in its best condition at a fair value and built in a good community. That is the perfect deal they will ever find.

You can check these sites for more homes for sale Affluent Communities in San Diego and San Diego Houses for Sale.

Posted in Uncategorized

Fret Not Rental Property Owners!

Real property taxes are often seen as an additional burden to property owners. They are often perceived as expenses added to operational cost. The national government acknowledges this predicament hence, tax advantages are being offered to lessen the blow of these tax expenses.

So, fret not rental property owners, for the government are offering wide windows of tax benefits. Breeze through some of those tax advantages which might apply to you, while you are in business of providing dwelling units to American people.

Mortgage Interest Payments

Usually property owners are plagued with sky-rocketing interest rates when acquiring any real estate property loans or any other substantial loans intended for the repair of the rental property. In this case, your mortgage interest payments can be a source of great savings. As the property owner, one is entitled to tax rebates from mortgage interests in these loans.

The total sum of the interest payments for these mortgages can be directly applied against the total taxes due for the year.

Repairs Cost

Property repairs cost is another facet that a rental property owner should also take into consideration. Usually, a rental property owner periodically does repairs to provide quality dwelling places for his/her tenants. Periodic repairs include routine replacement of electrical wirings, plumbing, reconstruction of damage house parts and the like. The cost of such repairs, often involves also a good sum. Hence, additional financial burden to property owners. Be worry free now, for this can already be charged against your due taxes for the year. Though there are inclusivity clauses which outline the allowed repair expenses, but still majority of those immediate regular repairs are included in the list.

Local Travel Expenses

The property owner usually pays his rented property for a visit, in cases wherein he is to settle issues on rental policies, payment collections and other operational issues. These visits, surely entail cost, especially if the property is located miles away from the place of residence of the owner. There are even cases that a property owner will have to take an inter-state travel. Hence, the expenses would include additional hotel accommodations aside from fare or gasoline/fuel cost. Travel frequency depends on the demand for actual property visit. Once expenses are accumulated, it will indeed total to a robust sum. Real property taxes included a rebate window for these types of expenses. The total sum of these expenses can be fully claimed against the real property taxes due of the property owner.

Depreciation

Property depreciation is also tax sheltered in rental properties. Per taxation practice, rental properties are being depreciated over the actual number of years being used, according to its actual drop in value every year. The said property value drop across time is claimed against the property taxes due. Hence, as a property owner, one has to be really keen in monitoring this claim as this can also be a substantial saving.

Insurances

Some counties require certain insurances before a rental property business commences. Often, these property insurances bore high premiums therefore accumulating additional high cost to the existing operational cost of the rental property business. Consequently, adding to the ballooning expenses of the property owner. To lessen this impact, the present tax mechanism offers a tax shield for this, wherein the entire expenses for insurance premium can be reflected as deductions to the total taxes due.

Indeed there are ready available tax advantages and benefits that will shield the increasing expenses of the rental property owners. Hence, it is just a matter of accurately applying all these tax benefits. A word of caution though, as a rental property owner, pleas ensure that prior to accessing to all these benefits, all claims must be fully documented.

Real Estate At Your Fingertips Phoenix Homes for Rent

Related Rental Properties Articles

Posted in Uncategorized