As we enter into the New Year, tax season is right around the corner. 


There are several tax breaks to be aware of when you file your taxes as a homeowner. Obviously, be sure to verify all of my suggestions with your tax advisor. As a new homeowner or buyer, you may wonder what the tax benefits of owning a home are. So, let’s break down some of them in this video 👇



#1 Mortgage Interest.

The ability to deduct mortgage interest is a significant benefit of owning a home. Mortgage interest is the interest charged on a loan used to purchase a home. 


#2 Property Taxes.

As a homeowner, you will pay property taxes on a state and local level but most likely you can take a property tax deduction on your taxes.  This deduction can be very valuable depending on where you live.  


#3 At-home office.

Have you been working from home almost exclusively the last few years? Your Home office may be deductible. Post-pandemic, more homeowners are working from home.  There can be some tax breaks for having an at-home office with your expenses. 


#4 Energy-efficient upgrades.

Many energy-efficient home improvements made to your home can qualify you for tax breaks. This includes energy-efficient appliances, solar, windows, and roofing. 


The Bottomline is…

Owning a home can have many financial benefits when filing your taxes. It’s best to consult with a tax professional to learn about all the help available to you and to make sure any of my suggestions can apply to you.

If you are a buyer entering the housing market, or a homeowner thinking of selling your home or would just like some advice, feel free to reach out to me so I can help you explore your options to make the right decision for you. Let’s talk about your home goal – Click here!



Find more videos about real estate news, market updates, life, community and even fun but educational videos at Betsy Taylor Homes!



About the Author
Betsy Taylor is a fiercely committed and proven professional who will effectively guide you through your next real estate move. As a long-time resident of Montgomery County and certified REALTOR with a decade of experience, she has helped and served many clients with compassion, energy, and professionalism.