Category Archives: Tips

Tax Write-Off’s: 101

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Tax Write-Off’s: 101- It’s that time of year again – tax season. It might not be a particularly enjoyable time; however, if you’re a homeowner, then there is a slew of tax write-offs that might be in the cards for you. Here are 6 tax write-offs that you might not be aware of, but should definitely take advantage of.

 

Mortgage Interest

Your largest tax break could come in the form of your home, due to the fact that a majority of the check goes toward interest – and that interest is deductible. Whether it’s your home’s first mortgage, or you refinanced, generally, equity debts of $100,000 or less are fully deductible.

 

Property Taxes

A large part of your monthly loan payment is likely going toward taxes. Luckily for you, the taxes will be an annual deduction as long as you own your home.

 

Selling Your Home

If and when you choose to sell your home, you will be able to avoid some of the taxes that come with the profit you’d be making. As long as the you owned the property for two years and lived in it for two of the five years before the sale, some portion of the profit will be tax free.

 

Loss Due to Weather

If you live in a place where there are some harsh winter storms, you may qualify for a casualty loss write-off. If you have to pay out of pocket for damage from a weather disaster, you may be able to write it off. This does not include anything that was covered by your insurance. However, the main thing you can do here is keep a documentation of everything you have and make sure you can prove the value of whatever was damaged.

 

Moving Expenses

If you have moved into a new home for the purpose of taking a new job, you may be eligible for a tax write-off. If the job is more than 50 miles away from your old home, you may be able to deduct lodging expenses for you and your family, as well as moving expenses to move your belongings.

 

Being a homeowner is expensive, but also incredibly beneficial. Being prepared for tax season and knowing the deductions available to you will save you more money in the long run. For more information on tax write-offs for homeowners, visit here.

Things to do in Central Ohio – February

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Things to do in Central Ohio This February – February might be the shortest month of the year, but there is definitely no shortage of things to do in the area. From family-friendly activities to adults-only nights out, Central Ohio has it all. Here are five things going on near you this month.

1. emerging: An Annual Exhibition of Student Art

When: February 3 – 13

Admission: Free

Bring the whole family out to the Dublin Art Center to celebrate the artistic abilities of local students in grades kindergarten through 12th grade, who participate in summer ARTcamps. It will be a great celebration of students and community.

2. Paradise Island

When: Fridays this month

Admission: Free to attend

Leave the kids at home and gather a group of friends for a fun Friday night out on the town. Paradise Island will be on from 9 – midnight and there will be happy hour specials all night long.

3. McConnell Arts Center Chamber Orchestra

When: February 8

Admission: $12 – $25

For a beautiful Sunday afternoon experience, make your way out to the Peggy R. McConnell Arts Center of Worthington. You will have the opportunity to hear classical pieces in the intimate setting of our Bronwynn Theatre.

4. I’ll Eat You Last

When: February 12-22

Admission: $25 – $30

Gather a group of friends and head out to The Garden Theater for a conversation with Sue Mengers. In the height of her reign, Mengers made her career simply by uttering an invitation to one of her memorable dinner parties, which she will share with the intimate audience.

5. Eddie Pollina Band

When: Fridays this month

Admission: Free to attend

The Eddie Pollina Band is coming to Dublin, so bring your significant other for a fun and thrilling date night out on the town. The band will be playing all night long with happy hour prices on drinks in the lounge.

For more information on all of the great events and activities available to you in Central Ohio, visit here.

Pros and Cons of FSBO

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Pros and Cons of FSBO – Once you’ve deciding to sell your home, some choose to work with a real estate professional and some choose to sell “For Sale By Owner” or FSBO. Ultimately, you don’t have to sell your home using a real estate professional but there are definitely pros and cons of selling your home FSBO. Here are a few to help you decide the right path for you…

Pros of Selling a Home FSBO:

  • Save Money – You won’t have to pay 2 real estate agents. Instead you will only be in charge of paying the agent of the buyer unless you work with the buyer directly.
  • You Are In Control – You can control how your home is staged, marketed, when you show the home, etc.
  • It’s Your Home – You know the home better than anyone. You can point out the amenities and items in the home like no one else.

Cons of Selling a Home FSBO:

  • No Help – Without an agent, you are in charge of marketing, pricing, showing, staging, negotiating, finding a buyer, doing the paperwork, etc.
  • Pricing – This is a touchy subject. Too high and you lose interest. Too low and you lose money. Real estate pros know the strategy and how to negotiate the best price for you and your home.
  • Less Visibility – This is what real estate pros do. They have a marketing strategy for your home to get you the most exposure and to target the right buyers. Without the right marketing you have less visibility.
  • Contracts – Real estate pros tell you what you need, what it means and handle the leg work for you. When you sell a home FSBO, you can get that info from a title company or an attorney but you will still most likely pay a fee for that information.

There are pros and cons to every situation. It won’t hurt to interview a real estate professional to get your questions answered and to see which route is best for you. It’s important that when you want to hire a real estate agent that it’s the right one. We recommend you interview a few to find the right one for you.

 

6 Ways To Boost Your Credit Score in 2015

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It’s that time of year again – time to declare your New Year’s resolution. So why not make your New Year’s resolution something that will ultimately help you in the long run – like improving your credit score. Improving your credit score can have a number of benefits; however, it will take a lot of patience and self control. Here are six ways you can improve your credit score in 2015.

Pull Your Credit Reports

This should be your starting point in your journey of improving your credit report. Many people don’t pull their reports, but how will you know if you’ve improved your score without a starting point?

Make Payments

Making payments on time or paying off past due accounts are both super important when it comes to improving your credit score. This is because a lot of your credit score is based on your payment history.

Don’t Cancel Old Cards

You might think it will be beneficial to cancel all of the old cards you don’t use, but it’s actually better to keep them open and use it for recurring charges like your electric or cable bill. These are likely fixed costs that you will be prepared for each month so paying them off won’t be as overwhelming.

Improve Debt-to-Credit Ratio

Your debt-to-credit ratio is how much you owe versus how much credit you actually have, and can be a huge factor in improving your credit score. You can do this by asking for a credit increase, or paying down your revolving debt first.

Request Good Faith Adjustments

Not all banks will do this, but if you notice you had one or two late payments – for things like an oversight in due date or a one-time financial problem, ask for a good faith adjustment. In the event that your bank makes the adjustment, your score will automatically increase.

Dispute Errors

Go through your reports with a fine-toothed comb to make sure there are no errors. Enlist the help of a professional if it is necessary for your situation. Many people have their credit score negatively affected by a minor error with a simple fix – don’t be one of them.

To learn more about ways to boost your credit score in 2015, visit here.

How To Sell Your Home in 2015

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How To Sell Your Home in 2015

If you’re thinking about selling your home in 2015, you’re in luck – it’s predicted that the real estate market will make it easier to buy and sell, with more options and buyers than last year. For first time sellers, preparing and putting your home on the market is often an overwhelming and stressful process. It’s difficult to know where to start, what to do and what’s the best way to do it. That’s why we’ve put together this guide with a number of tips for everything from home improvement, selecting a realtor and staging your home.

With this as a starting point, you’ll be sure to have your home sold in no time. Happy selling!

5 Tips to Sell Your Home in 2015:

  • Know who’s looking and how much your home is worth. It’s predicted that 2015 will be a popular year for first-time home buyers. Many Millenials delayed buying when the recession hit, but many are now starting families and looking to purchase their first home. Make sure to prepare your home to attract this demographic, and know how much other homes in your neighborhood are worth.
  • Find a qualified real estate agent to work with you. The right agent can offer valuable knowledge, negotiate with potential buyers in your favor and guide you in the right direction. Ask your friends, neighbors and family for recommendations of real estate agents, or search online at reputable sites such as realtor.com. Attend open houses to see a potential agent in action and get a feel for how they do business.
  • Make your home sale-ready. This often means repairing, remodeling or staging for sale. The first step is to de-personalize the house. You may love the trendy colors, but neutral walls let prospective buyers can imagine the place as their own. Pack away family photos, knick-knacks and other personal items, make minor repairs like cleaning top to bottom and remove all the clutter that’s on your coffee table, kitchen counters and end tables, as well as anything you don’t need from your shelves. Your real estate agent will be able to give you more specific instructions for how to get your home ready for showing.
  • Get a professional home inspection. Most buyers will get a home inspection before signing any papers. Should they find anything serious, the buyer may offer less for your home than you were expecting. Prepare for this by taking care of any minor repairs before putting your home on the market and having your own inspection done. This way you can be aware of any problems and consider them when determining your asking price.

We hope these tips will help you sell your home this year. Leave a comment us below, or contact us if you have any questions!

Things to do in Central Ohio – January

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Things to do in Central Ohio – January There are so many things going on in the Central Ohio area this month, so ring in the new year with all of the events and activities available to you. No matter what you’re looking for, you will have no trouble keeping your time occupied. Here are five things going on near you this month.

1. The John Schwab Band

When: The first Friday of the month

Admission: Free to attend

Leave the kids at home and gather your friends for a night out on the town. Live music and happy hour prices are a great way to wind down after a long week, so make your way out to LaScala for a good time.

2. Worthington Historical Society Antiques Show

When: Saturdays and Sundays this month

Admission: $8

Whether you’re into antiquing or not, this will definitely be a not-to-miss antiques show. There will be an amazing selection of high-quality items available for purchase with a number of new exhibitors.

3. MAC Short Film Night

When: January 7

Admission: Free

If you’re looking for a different way to spend your date night, this is definitely worth checking out. You will have the opportunity to view locally made and inspired films at the Peggy R. McConnell Arts Center of Worthington.

4. Hear & Now Author Series: Marja Mills

When: January 29

Admission: $5 – $10

Make your way out to the McConnell Arts Center in Worthington to hear from Marja Mills. She will share tales of her life in Alabama, living next door to the amazing author Harper Lee.

5. Westerville Symphony Orchestra Tunes and Tales

When: January 31

Admission: Free

If you have children between the ages of 3 and 8, this is perfect and directed towards them; however, no matter how old your kids are bring them out to the Westerville Public Library. The library, in partnership with Westerville Symphony Orchestra, will present an integration of musical adventure and storytelling, Ferdinand the Bull.

For more information on all of the great events and activities available to you in Central Ohio, visit here.

7 Ways To Keep Your Home Showing Ready in the Winter

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7 Ways To Keep Your Home Showing Ready in the Winter-Some people think it is almost impossible to sell their homes in the winter because it’s hard to keep a buyer interested when the weather outside is frightful. Fortunately, there are a plethora of things you can do to prepare your home for a showing this season. Even small tasks can make the biggest difference when it comes to keeping your home attractive to buyers. Here are seven ways to keep your home showing-ready this winter.

 

Shovel the Snow

Make sure the snow in your driveway and walkway leading up to your house is clear and plowed. Nothing will scare potential buyers away more than having to trudge through a foot of slushy snow. It will also help enhance the curb appeal.

 

Salt the Walkways

On a related note, salting the sidewalks is always a good idea. Eliminate the possibility of a disaster with the potential home buyer and make sure they’re able to get in the house without slipping.

 

Let There Be Light

Add extra lamps to the rooms in your home to brighten it up. Even in the middle of the day it can appear to be a bit gray outside, so adding lamps will help brighten up the space to make it more inviting to a potential buyer.

 

Festive Decor

Something as simple as a holiday welcome mat on your front porch will do wonders. It makes your home seem not inviting, but also festive and ready for the holiday season.

 

Crank the Heat

Ok, you don’t necessarily have to make it 80 degrees, but make it warm enough that it will be a relief for the potential buyers to step in from the cold outdoors. If they walk in cold and remain cold the whole time, it may be a turn off.

 

Display Photos

Sometimes it’s hard to picture what a home will look like in the spring and fall if it’s masked by feet of snow. Display pictures of your home in other seasons to show the potential buyer how beautiful your home will be, year-round.

 

Do Some Baking

Bake some holiday cookies in advance of potential buyers viewing your home. Not only will the wonderful smell take over your house, but you’ll have some festive treats to share with the potential buyers.

 

For more ways to keep you home showing ready this season, visit here.

How Do Interest Rates Affect my Ability to Buy a Home?

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How Do Interest Rates Affect my Ability to Buy a Home? Many factors can affect your ability to buy a new home, it just depends on each individual home buyer and situation. Interest rates can have an immense effect on any given person’s ability to buy a home, and home loan interest rates have been increasing recently. Here are some ways you might be affected by interest rates, and some ways you can act on it.

Home loan interest rates have been rising in the recent past, and this can affect the home loan you can qualify for. You might not be able to take out as significant of a loan if the interest rates are higher than you expected. This, in turn, can affect the type of home you can afford.

The higher cost of money, or interest rates, leaves you with several options when you’re searching for your new home. If you’re a homebuyer, you can alter your search terms, and look for houses that will be less expensive and more affordable for you in this situation. If you’re a home seller, you might consider lowering the cost of your home, or the buyer will have to pay higher monthly payments. If the buyer cannot make higher monthly payments, they ultimately will not be able to afford this particular home.

Due to these rising interest rates, more buyers are being forced out of the market because they cannot afford the cost. What does this mean for sellers in this market? Well, they won’t be able to sell their homes at this cost. With little competition, you will either need to take your home off the market, or sell your home at a significantly lower value.

If you are serious about buying a home, there will be no stopping you. Interest rates affect everyone and each situation is different; however, there is often a solution if you work with your real estate professional, who has knowledge of the area and market..

To learn more about how interest rates affect your ability to buy a new home, visit here.

Ice Dams: What They Are and How to Avoid Them

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Ice Dams: What They Are and How to Avoid Them – Colder temperatures means less lawn care, but the cold and snowy weather can lead to several serious problems for your home. These issues can be troublesome and costly while adding stress to your life. One such problem is ice damming, which if left untreated can damage your roof, gutters, paint, drywall and structure extensively and even lead to mold. In this post, we’ll discuss what ice dams are, how they form and offer several tips to help you avoid them.

What are ice dams?

Ice dams occur when melting snow runs off your roof and refreezes at the edge, causing water to become trapped on your roof and creating a larger ice dam. They form most often after a large snowfall because the snow acts as an insulator. The heat from your home makes your roof warmer than the freezing point and the snow begins to melt, then refreezes in the cold winter air.

How can I prevent ice dams?

The best way to prevent ice dams during the winter is to reduce or get rid of any sources of heat in the attic of your home and ventilate the attic space of the roof. The goal is to make the roof of your house the same temperature as the eaves, so water won’t freeze at the end of your roof. There are several things you can do to properly ventilate the area under your roof and prevent heat from escaping:

  • Cap the attic hatch or whole-house fan with weatherstripped caps made from foil-faced foam board held together with aluminum tape.
  • Make sure all exhaust goes to the outside, preventing heat from warming the roof.
  • Add more insulation on the attic floor.
  • Seal and insulate your ducts.

If you’d like to learn more about how to prevent ice dams, this article from This Old House offers good advice.

Keep these tips in mind and you’ll be able to prevent ice damming, keeping your home in top shape this winter.

Do you have tips for winterizing your home? Leave them in a comment below and we could feature them in a future blog post.

How To: Cut Energy Costs This Winter

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It is about that time of year again! It always seems to creep up on us faster than we would like. The days are getting shorter, colder and sometimes more expensive. However, they don’t have to be as expensive this year. There are a few things you can do this winter to cut your energy costs.

  1. Unplug everything

Don’t leave your electronics on standby or plugged in. You can not only cut your energy bill this winter, but all year round by doing this.

  1. Heat the rooms you use

Close off, or even seal, the vents in the rooms you do not use.

  1. Minimize the use of a few things

Try cutting down on the time you use things everyday such as hairdryers, kettles, and irons.

  1. Get a humidifier

Moist air feels warmer as well as holds heat better.

  1. Bundle up

Instead of increasing the temperature on your thermostat, increase your layers! Wear a sweater and some fuzzy socks while walking around the house. Also add an area rug to insulate the floor in your living room.

  1. Only use exhaust fans when absolutely necessary

Exhaust fans pull the heat out of your home making your heater work harder.

  1. Use your ceiling fans

Switch the fans to move clockwise and set them on a low setting to push the hot air back down.

  1. Use the sun to your advantage

Open the curtains during the day and close them at night to trap that free heat inside your home

  1. Lower the temperature on your water heater

For every 10-degree reduction you save 3-5 percent in energy costs.

  1. Keep your furnace clean

Change your furnace filter clean and free of blockages. Check it every month!

These few tips seem obvious, however, most people just never get around to doing them once the winter months arrive. Make sure to utilize these few tips so that you won’t regret it when the bills roll in. Read more about cutting your energy cost here. Have fun and stay warm!