First Time Home Buyers
1. Property taxes and qualified interest are deductible on individual's Federal Income Tax Return.
2. A home is often the largest asset an individual has and it is considered the largest investment that an individual can make.
3. A home is one of the few investments that you can enjoy by living in it.
4. Part of each amortized mortgage payment goes to the principle balance, which in turn becomes an investment.
5. Looking to by a home listed with a company, a builder, or even a For Sale by Owner? A Realtor can show you all three.
6. Buying a For Sale by Owner with the help of a Realtor can be very beneficial, as you have someone looking out for your best interest.
7. A Real Estate agent can provide you with the information necessary to complete your loan application in a timely manner.
8. A homeowner can exclude up to $500,000 of capital gain tax if married and filing jointly, or up to $250,000 if single or filing separately provided that the home has been the taxpayer's principle residence for the last 2 years.
9. As of May 7, 1997 there was no longer a requirement that you purchase a home more expensive than the one you just sold. You are free to purchase up and down with no tax consequences assuming that your gain is less than the allowable amounts.
10. Your Real Estate agent should be familiar with the neighborhoods you want to live in.
11. Ask your Realtor whom he/she is representing in the transaction.
12. Ask you Realtor what they will do to keep you informed.
13. Your Realtor should provide you with the highest level of service and advice.
New Build Information
Why you need a Realtor with you when buying a New Build Home.
Realtor Sales Rep
Licensed by the State of Ohio Yes No*
Represents "YOU" Yes No
Required to take Continuing Education Yes No*
Canon of Ethics through the Board of Realtors Yes No*
Is held responsible by the State of Ohio Yes No*
Is an employee of the Builder No Yes
Cost to "YOU" No No
Special Note: The use of a Realtor will NOT increase the price of the home. The built-in profit to the BUILDER is reduced when a Realtor is utilized by the Buyer.
*Unless a licensed Realtor.
