Taxes

Benefits of Home Ownership

House keysHome ownership has many advantages, both personal and financial, but buying a home is an important decision. Understanding the differences between renting and buying can help you decide if it is the right time to make the leap.

Benefits of Home Ownership:

  • Tax savings: You may earn significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax as well as many states' income tax if you itemize your deductions.
  • A stable monthly housing expense: Your monthly housing loan or mortgage expense can remain the same for the life of your mortgage, depending on the type of loan you choose.
  • Equity: You may build equity in your home over the life of your loan, which allows you to plan for future goals like your child's education or your retirement.
  • Personal satisfaction

Your home can be a great source of pride and satisfaction - giving you peace of mind that you've built a solid foundation on which to build your future.

Think you might be ready? Have more questions? Please don't hesitate to contact us.

We look forward to hearing from you,

Stowe Area Realty can show you any listed property in Vermont !!

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    How to Establish Residency in Florida

    Stowe Area Realty Broker Ken Libby and Tom Mannion, long-time Florida REALTOR®, are hosting a FREE seminar...

    How to Establish Residency in Florida
    Tuesday, February 13, 5:00 p.m.
    Stowe Area Realty, 1056 Mountain Road, Stowe

    [PDF] Download the seminar flyer here.

    Interested in living in Florida?
    Join us if you would like to understand the necessary requirements and tax advantages to proving Florida residency; it could directly impact your real estate interests:

    • Florida doesn’t collect an individual income tax.
    • Florida doesn’t collect a state death tax.
    • Florida offers many asset protection benefits.
    • Florida offers property tax benefits for a primary residence.

    Contact us to RSVP or for more information.

     

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      Ken Libby Appointed to 2019 Federal Taxation Committee

      Ken LibbyStowe Area Realty’s owner/broker Ken Libby was appointed to the National Association of REALTORS® (NAR) 2019 Federal Taxation Committee.

      The Federal Taxation Committee proposes, reviews and takes a position on all legislation in the U.S. Congress that impacts property rights and the ability of U.S. citizens to achieve homeownership.

      Libby said that after nine years of being a REALTORS® Political Action Committee (RPAC) member, NAR president John Smaby gave him “his choice” of what committee he wanted and Libby selected the taxation committee because “it frequently makes recommendations on ways to amend legislation to be more beneficial to home owners.”

      “I strongly believe in the NAR’s ‘Homeownership Matters’ campaign. Owning a home is still the greatest asset and I hope my work with the taxation committee will help protect that,” Libby said.

      Libby also recently served on a Presidential Advisory Group that provided council on changes to the rules for small banks. 

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