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  • Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from a Colorado Springs, Monument and Falcon, Colorado real estate agent(s). Contact Amy Lassen today!

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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 is the average age of a first-time homebuyer in the United States today?

A 
The average age of a first-time U.S. home buyer is 32 years.
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Amy Lassen, REALTORŪ, real estate agent and broker for Colorado Springs, Monument and Falcon, Colorado home listings, property and land for sale

Amy Lassen
Keller Williams Partners Realty

1307 Aeroplaza Drive
Colorado Springs, CO 80916
719-440-0013
Fax: 719-955-1998
amylassen@BestImageAgent.com


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