Buyers

7 REASONS TO BUY A HOME

1. Pride of ownership is a key reason for wanting your own home. Decorate it to your own taste and enjoy
all of the benefits while making a great investment.

2. Real estate over time has been considered a good investment because most of it has appreciated. The
effects of leverage can multiply the increase when borrowed funds are used to purchase the home.

3. Qualified mortgage interest and home equity loans are deductible for Income Tax purposes.
Property taxes on a first or second home are deductible for Income Tax purposes.

4. A homeowner can exclude up to $500,000 of capital gain if married, filing jointly or up to $250,000 if
single or filing separately for homes that have been the taxpayer's principal residence for the previous
two years. There is no age requirement for taking the capital gains exclusion like the "over 55" rule in
the past.

5. It is not necessary to purchase a replacement home more expensive than the one sold. Homeowners
can buy a more or less expensive home with no tax consequences assuming their gain is less than the
allowable amounts.

6. Preferential tax treatment on gains that have been made from capital assets held more than one year
are permitted by the IRS. This is especially important for homeowners with gains in excess of the
allowable exclusion.

7. Mortgage payments include the interest for the time that the money has been used and principal to
retire the debt over a period of time. Each month part of the payment is for principal accumulation.

Buying a home? I look forward to helping you select the home of your dreams by taking time to listen to your needs and desires.

Buying a home is an exciting time in one's life. Making the smart move of choosing a REALTOR® is your first step to ensuring that your new home and community meets your needs. Our services and experience range from financial aid to helping you find the home that best suits you and your family. For your convenience, We also provide listings by email. We pride ourselves on repeat business and hope you'll come to understand why.

As Your Agent, I Will:

● Assure that you see all the properties in the area that meet your criteria.

● Guide you through the entire home buying process, from finding homes to look at, to getting the best financing.

● Make sure you don't pay too much for your new home and help you avoid costly mistakes.

● Answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.

Before You Start Looking For Your New Home:

● Check your credit rating ( Equifax - Experian - Trans Union). Straighten out any errors before it’s too late.

● Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.

● Find a loan program that meets your needs and get pre-qualified (preferably pre-approved).

● Choose a REALTOR® that you trust and who understands your needs.

● Determine what neighborhood best matches your needs.

● Identify important features you need your new home to have.

Closing Costs to Expect:

● Lender fees include charges for loan processing, underwriting, preparation and establishing an escrow account.

● Third-party fees include charges for insurance, title search, and other inspections such as termites.

● Government fees include deed recording and state & local mortgage taxes.

● Escrow and interest fees include homeowner's insurance, loan interest, real estate taxes, and occasionally private mortgage insurance.

Find out how much your closing costs could be.

Contact Me:

Cindy Guthrie, ABR Broker Associate
‘Making Clients for Life’
RE/MAX of Rapid City

1240 Jackson Blvd.
Rapid City, SD 57702

(605) 484-1032 cell

(605) 341-4300 office

cindyguthrie1032@gmail.com

www.cindyguthrie.com

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‘Making Clients for Life’

Cindy Guthrie 605-484-1032