When buying a home for the first time you most likely want to save money any chance you get. It can seem like an overwhelming and never ending drain on your bank account. When you finally close on your new home you probably won’t want to even think about any more paperwork or transactions, but a quick trip to the County Assessor’s office to file a homeowner’s exemption will save you so much money each year in property tax.
What is it ?
An exemption that reduces the taxable value of your home up to a maximum of $100,000 in value.
Why do I need it?
By reducing the taxable value of your home, your taxes are much LESS and you SAVE! If you have a mortgage, this savings will likely reduce your total monthly mortgage payment.
If you live in your home at least 6 months out of the year as your primary residence, you qualify!
When do I need to file?
You must file by the 15th of April in 2018!
Where do I file?
The county assessors office for the county in which you reside.
Remember: Idaho is a non-disclosure state and this means that you do not have to share the value of your home with the county when you apply (what you paid for it)
If you are not sure about your home owner exemption status, give us a call and we would be happy to help you! We are here to help!
Now that 2018 is finally here, resolutions and goals seem to be all anyone is talking about. If one of your resolutions is to be a first-time buyer then here are a few tips to help you make that a resolution that doesn’t fall by the wayside. Maybe your resolutions don’t involve buying, maybe it is to sell your home or to build equity with your existing home or investing in your home. In any case here is an abbreviated list of some routes to consider. (Full Article)
For the first time buyers
Buying a new home is scary, but taking the first steps toward an organized and planned out purchase is half the battle. Having a structured plan and timeline gives you a set of instructions that you can follow. Near the top of the list you create should be finding a reputable and thorough realtor to take the mystery of purchasing and turn it into an understanding of the process. Regardless of when your planned purchase date is, NOW is the best time to start working on your credit. If you’re one of the majority who has room for improvement, the sooner you start working on it, the better. And speaking of now, remember that you are going to need a down payment for your purchase.
For the First time Sellers
Maybe you don’t plan to be a first-time buyer, maybe selling is on the top of your 2018 goals, then you need to start planning too! When you prepare your home to be sold, you need to make sure that you take care of all those repairs you’ve been putting off. Along with fixing, you need to start getting rid of the extra and unused stuff that has been accumulating. Personally, I don’t want to pay to ship the contents of my junk drawer or those broken things that I keep meaning to fix. Throwing away (donating, selling) is hard but once you’ve cleared out the clutter, you’ll be happy you did and it’s one less thing you need to worry about.
Trying to Add Equity
One of the most effective ways to add equity to your home is to bring your principle down. You can do this in several ways. Refinancing your home might be a good choice. Either for a shorter loan term or for a lower rate. Another way to bring down your principle is to pay more. That simple. Maybe you pay more each month or you make an extra payment. Either way you’re going to have to pay more.
Investing in Your Home
Investing in your home can be one of the more gratifying options. Most of us like to see transformations. And making your home more beautiful is always exciting. Make sure when you chose a project that you select one that has a good return of investment. It would be a good idea to do some homework and find out the most sought after home features. One type of renovation that will almost always yeild a good return of investment is increasing your home’s energy rating.
No matter what topic made your 2018 Real Estate goal list, we hope you were able to find some of this advice helpful. If you did, or have any other ideas- Reply and tell us all about them. Please don’t forget to check out the full Windermere article for any extra info.
LET’S MAKE AWESOME HAPPEN!
Summertime in North Idaho and our market remains Healthy!
Have any questions about buying or selling? Wondering if its the right time for you? Contact us and lets discuss it and let us provide you all the information you need to make an informed decision to move forward or to wait. We are here to help!
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