TAX BREAKS FOR HOMEOWNERS

It is that time of year again....Tax Time

 

Photo by danielmoyle

 

Time to start gathering up your W2s, 1099s, bank statements and receipts...

and looking for any deductions you can find. 

One of the benefits of being a homeowner is that you may be

able to take advantage of a number of tax breaks. 

In order to take advantage of most of these deductions,

you will have to itemize your taxes.  It does make preparing your taxes

 more complicated, but the payoff can make it worth it. 

Here are list of a few tax breaks you may want to check out as a homeowner:

Mortgage Interest

If you paid interest at closing when purchasing your house,

you may be able to deduct all or part of that interest.

Points

If you paid points to obtain a mortgage when you purchased your home,

 you may be able to deduct that amount.

Property Taxes

State and local real estate taxes may be able to be deducted. 

It gets a little more tricky if your taxes are escrowed,

but worth checking into.

Selling Costs

The cost of things to promote the sale of your house

 such as broker's fees, advertising expenses

and repairs might be able to be deducted. 

 

Mortgage Insurance Premiums

If you qualify, you may be able to deduct

the premiums paid for private mortgage insurance.

 

Home Improvement Loan Interest 

Interest on loan to make capital improvements on your home,

you may be able to deduct the interest you pay on that loan.

 

Interest on Construction Loans -

If you build a home using a construction loan,

you may be able to deduct the interest paid

on a qualified home for the first 24 months of the loan. 

It is important to seek the advice of a tax professional

to determine if you qualify to take advantage of some or all of these tax breaks.  

Preparing your taxes is complicated...especially when itemizing,

 but why not take advantage of all the benefits of being a homeowner? 

We would love to hear if these deductions helped you out? 

Did it reduce the amount you owed or maybe even get you a refund?

Do you want to know about all the advantages of homeownership? 

Call (207)784-3800 or e-mail brenda@fontaineteam.com

BACK TO SCHOOL

It's hard to believe, but it is time for

BACK TO SCHOOL

Bring on the buses, school lunches and homework!

Here are a few tips for making your Back to School season safe and worry-free...

1.  Plan your Route

     Make sure you plan the route your child will take to the bus stop

or to school if they are walking or riding a bike.  Practicing a few times

 before the first day of school will make the first day of school less stressful

for you and your child.

2.  Rules of the Road

     If your child is walking, even if it is just to the bus stop,

make sure they know to walk on the left side of the street facing traffic. 

Talk to them about where to cross the street if necessary and how to safely cross. 

     If you child is riding a bike, make sure they know to ride on the right side

of the street with traffic.  Talk to them about crossing the street with the light

 and watching for turning traffic.  Make sure they have a properly fitted helmet. 

3.  Bus Stop Safety

     Talk you your child about where to wait for the bus, waiting for the bus

to come to a complete stop before approaching it, and making sure

 they are crossing safely in front of the bus if they must cross the street

when getting off the bus. 

4.  Strangers

     Teach your child not to talk to or accept rides from strangers. 

Teach them if anyone approaches them that makes them uncomfortable

to yell loudly something like "This person is trying to take me"

and get away as quickly as possible to tell a trusted adult.  Let you child know

that adults who need help will usually ask another adult, not a child. 

5.  For the Adults

     You may need to leave a few extra minutes for your morning commute

to account for the school buses stopping. Watch for children around buses

or at crosswalks and walking or riding bikes to school. 

Have a safe and happy school year!

For tips about buying or selling Real Estate in Maine,

call Brenda at (207)784-3800 or e-mail brenda@fontaineteam.com.

TIPS TO KEEP YOUR HOME SAFE WHILE ON VACATION

Are you planning a spring or summer vacation?

You have probably been dreaming about the location, searching for hotels

 and flights and making plans for all the things you want to see and do...

.but have you given any thought to keeping your home safe while you are gone?

Your home is one of the biggest purchases of your life, so you definitely want to

put some thought into how you are going to keep it safe while you are away. 

Here are a few suggestions to get you started!

1.  Lights - leave a couple of lights on inside your home, or better yet, put a few lights on a timer so they turn on and off giving the illusion that someone home.  On the exterior, make sure the entry to your house is well lit, or consider installing motion lights.  

2.  Mail & Newspapers - a pile of newspapers on the front lawn or in the box is a sure sign that homeowners are away.  Make plans with a neighbor to pick up your mail and newspapers while you are gone, or call the post office and newspaper to make arrangements to have delivery halted while you are away

3.  Car in the Driveway - leaving a car in the driveway or asking a neighbor to park in your driveway while you are gone, give the illusion that someone is home.

4.  Lock it Up - Make sure all the doors and windows to your home are locked.  Make sure you check that basement door or 2nd floor window that rarely get used. 

5.  Spare Key - make sure you remove any hidden key you may have outside of your home.  You may think it is well hidden, but why take the chance that someone will find it.

6.  Lawn - One of the great things about vacation is that you don't have to mow the lawn or shovel the snow...but tall grass or unmarred snow are sure signs that nobody is home.  Make arrangements to have someone take care of the lawn or snow while you are away.

7.  Social Media - You may want to avoid making comments about your vacation or uploading vacation photos to your Facebook account or other social media until you are home.  Advertising that you are away for a week is an open invitation to burglars. 

8.  Police Drive by - some local police departments will drive by and check on homes while the owner is away.  You may want to consider contacting your local police department to see if they provide this service in your community.  If not, consider having a trusted neighbor check on the house.

The more you can make your home look like someone is still coming and going, the safer it should be!  Plan ahead to protect your home and then relax and enjoy your vacation!

A NEW YEAR IN REAL ESTATE

WELCOME 2012!

It is a new year in real estate and we are ready for a busy year of matching up sellers and buyers! 

Fontaine Family - The Real Estate Leader is THE source

for up-to-date real estate information in Central Maine! 

We are always looking for ways

to improve our service to our clients and community...

This year, our goal is to update this blog weekly

with relevant information about all things real estate

and information about our local area.  

Is there something you would like for us to cover? 

We would love to hear from you...

you can leave a comment or e-mail us by clicking below!

Click here to view our listings!

SHOULD YOU SELL DURING THE HOLIDAYS?

SHOULD YOU SELL YOUR HOME DURING THE HOLIDAYS?

Every year, many sellers decide to wait until after the holidays to list their homes

 because they assume property doesn't sell during the holiday season. 

The holiday season can be a great opportunity to sell your home

with less competition than other times of the year! 

Check out our video for another bonus of selling this time of the year!

If you are ready to sell with less competition...call us! 

 (207)784-3800

HomeOwner's Insurance Rates & Your Credit Score

Did you know that your credit score can affect your Homeowner's Insurance rates? 

 Dan Roux from Roux Insurance offers some great tips in this video!

FALL HOME MAINTENANCE TIPS

There is no denying it now....fall is here!

The leaves are turning beautiful colors,

the air is cooler and the days are shorter.

It is also time for fall maintenance.

Here is our top 10 list of fall maintenance items!

1. Clean the gutters and downspouts to avoid ice backups that can cause roof leaks and expensive sheetrock damage.

2. Caulk any gaps around windows, doors or vents. Did you know rodents can squeeze through an opening only 1/4 inch tall? Caulking those gaps should help to keep unwanted guests out!

3. Check weather stripping around doors and windows and install storm windows & doors.

4. Insulate your outlets and switches with foam outlet insulators.

5. Clean the dryer vent and clean behind the dryer.

6. Have your heating system cleaned and serviced including your chimney and filters. Not only will your home be safer, but the air will be cleaner and your system will run more efficiently.

7. Change the battery in your smoke and carbon monoxide detectors and test them. Most of these devices suggest that you change the battery yearly and replace the unit every 3 years. When was the last time you tested yours or changed the battery?

8. Shut off and/or insulate any outside spigots. This will help prevent frozen and broken pipes.

9. Fertilize the lawn...yes in the fall. Fertilizing in the fall will make the grass roots stronger without feeding the weeds like fertilizing in the spring.

10. Reverse your ceiling fans. Did you know that most ceiling fans have a switch to reverse the way the blades rotate? If you have the blades rotate clockwise, it will help move down the warm air trapped at the ceiling!

What is your best fall maintenance tip?