Question the first: What kind of tax breaks do i get on buying homes if I'm a first time buyer, also are there any other breaks iget asa well?
Second Question is: where can I find a duplex or triplex for sale?? Any ideas??
2007-02-12 11:18:45 · 3 answers · asked by bboyballer112 2 in Politics & Government ➔ Law & Ethics
Buying a home for the first time can be expensive; however, you'll make up for it during tax season. You'll get credit for not only the interest you pay for the home but also the points you pay on the loan. You can also use your property tax expenses as a deduction which can substantially save you a lot of money.
The second question can only be answered if I knew where you lived.
2007-02-12 11:32:41 · answer #1 · answered by ? 5 · 0⤊ 0⤋
You don't get a tax break for buying a home. You get to deduct the amount you pay in interest on the loan. So- it in effect, reduces your loan payment. You'll also get to deduct the taxes that you pay for it, like the property taxes.
2007-02-12 19:27:10 · answer #2 · answered by Morey000 7 · 0⤊ 0⤋
Depends on what country you live in
2007-02-12 19:26:31 · answer #3 · answered by Adam 1 · 0⤊ 0⤋