We are proud to announce the Grand Opening of our 3rd location! 62-12 Myrtle Ave, Glendale NY 11385 (718)366-6636 will open on November 1, 2015. So please come down, See you there! Visit us on Facebook or our Website
According to Nolo.com, "As a broad generalization, most people can afford to purchase a house worth about three times their total (gross) annual income, assuming a 20% down payment and a moderate amount of other long-term debts, such as car or student loan payments. With no other debts, you can probably afford a house worth up to four or even five times your annual income."
"If you plan to sell your home and buy another, which should you do first? If you sell first, you’ll be under time pressure to find another house quickly -- and may end up settling for less than you wanted, or overpaying. But if you buy first, you'll have to scramble to sell your old house -- a particular problem if you need top dollar on your old house in order to make the down payment on the new one."
Your home provides many tax benefits -- from the time you buy it right on through when you decide to sell. Here's a summary of the tax benefits of home ownership; for details, visit the IRS website at www.irs.gov.
1) Mortgage interest 2) Points 3) Equity loan interest 4) Home improvement loan interest 5) Property taxes 6) Home office deduction 7) Sellings costs and capital improvements 8) Capital gains exclusion 9) Moving costs 10) Mortgage tax credit