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Latest Listings: Augusta, Lincoln County and Strom Thurmond Lake Georgia home buying, real estate listings, and homes for sale in WIlkes County, GA

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Tax Considerations >Tax Reform

Owning a home still offers significant tax benefits. If you are renting, it may be a good time to sit down with a professional real estate agent to see how much you can save each year by owning your own home.

You save in two ways when you purchase a home. Even though most interest deductions have been phased out, home mortgage interest and state and local property taxes can be deducted. The interest on a home equity loan may also be deductible.

Your real estate agent can show you how these savings will apply in your situation. You may be pleasantly surprised when you compare the tax savings you will receive as a result of owning your home, and you will build up equity as your home appreciates in value! Also, first-time buyers will see expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, allowing penalty-free withdrawals to purchase a home in the Taxpayer Relief Act passed in August, 1997. Consult your tax advisor for your particular circumstance.

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Q	What three things are necessary in order to purchase a home?
A	Some cash, a dependable income and good credit. If you fall short, don't despair--homeownership may still be possible.
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You Can Trust Nellie To Do The Job!
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Charles Kiblinger, Jr.
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Nellie McGee, REALTOR®, real estate agent and broker for Augusta, Lincoln County and Strom Thurmond Lake Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)

The McGee Lake Team
Broad River Realty
Office: 706-359-3818
With 30 years experience, licensed in Georgia, we are well equipped to help you Buy or Sell your property! Call or email us today!

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