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There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU. Interest rates, zoning and tax laws, new ways to market your home and enhance its value...

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Real Estate Tips
First Time Buyers >The Real Bottom Line

An important part of buying a house is sitting down with your real estate agent or a mortgage lender to get a clear idea of how much you can afford. They will add up all of your monthly expenses, the mortgage payment, insurance, real estate taxes, homeowners or condo association fees--and the grand total can throw you into shock!

The important thing to remember is that the grand total isn't really the bottom line. When you add your tax savings to the equation, you may be pleasantly surprised. During the early years of your loan, almost all of the mortgage can be deducted from your state and federal income tax. The same is true of your real estate taxes. If you use part of your house as a home office, you may be able to qualify for additional tax savings. In some areas, homes with ground floor apartments are popular for offsetting part of the mortgage and offering even more tax savings.

When you make calculations about the monthly costs that include the tax savings, you may find that owning your own home is less expensive than renting a house or apartment of comparable size.

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Real Estate Trivia
Q 
What information does nearly every state in America require the seller of a home to reveal to the buyer?

A 
Most states require disclosure of any existing problems or conditions that could affect the value of the house.
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The Turleys, REALTOR®, real estate agent and broker for Glen Ellyn, Wheaton and Chicago Western Suburbs, Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

The Turleys
Keller Williams Premiere Properties

462 N. Park, Suite 100
Glen Ellyn, IL 60137
630-790-3100
Fax: 888-545-8338
turleys@theturleys.com

The Turleys are your NUMBER1EXPERTS serving Glen Ellyn, Wheaton and all of Dupage County. The Turleys are not only recognized as one of the top Realtors locally, but also ranked among the top 1% of all Realtors nationally. The Turleys success can be attributed to their 47 years combined real estate experience, extensive market knowledge, use of cutting edge technology, and outstanding customer service!

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