Central Real Estate | 617-828-3268 | [email protected]


Posted by John Boey on 1/26/2020

One of the biggest benefits to buying a home is that of the tax savings for you. You own a home now, so thereís no more monthly rental payments going out the window. All of your mortgage payments are going towards your financial future. Thereís many different types of tax breaks that you can get from owning your home. Many home improvement projects that allow you an extra tax break are hiding right in the fine print! Tax breaks are known as ďincentives.Ē These incentives are essentially what help people to get important things in their homes done without having a order placed on them. There are some hidden things that you may not have known could be used as tax write-offs.  


Energy Savings


From putting solar panels on your home to replacing appliances, there are certain tax breaks that you can get for making your home more energy efficient. There are lifetime caps on these deductions, but on a certain year, youíll be able to save some extra money on your taxes. Some of the deductions that you might be able to claim include:


  • Air-source heat pumps
  • Biomass stoves
  • Central AC units
  • Water heaters
  • Certain energy-generation systems which include an array of things like water heaters, solar panels, fuel cell systems, wind turbines, and geothermal heat pumps.


You can deduct somewhere in the neighborhood of 30% of the cost of these improvements to your home. It doesnít hurt to check on the updated standards that are introduced each year by the government. Your accountant can help you to understand your own deductions a bit more in-depth. 


Modifying Your Home For Medical Needs


If you need to modify your home in order to accommodate medical needs, you may be eligible for a tax deduction. The modifications must not increase the value of your home and be medically necessary. If the doctor tells you to lose weight and you put in a home gym, you canít deduct that. If you need a ramp put in your home for wheelchair accessibility, then that can be deducted. The cost of the modifications generally has to exceed 10% of your adjusted gross income, or 7.5% if youíre over the age of 65. 


Whatís Not Deductible


If you have done some major remodeling around your home, itís sad to say that these improvements probably arenít tax deductible. On the positive side, you will get a bigger return on your home when you do decide to sell it. This could help you to reduce any capital gains tax that you may have to pay on the sale of the home.


Remember that when you make improvements to your home, youíre doing it first for your own needs. Any tax write-offs that you may get are merely a bonus.




Categories: Home Improvements   taxes  


Posted by John Boey on 1/22/2020


10 Linwood St, Malden, MA 02148

Condo

$429,900
Price

7
Rooms
2
Beds
1/1
Full/Half Baths
Great opportunity to own the largest unit at Malden Mills Condominiums. This spacious 2 bedrooms 1.5 baths with an office could be used as the 3rd bedroom, Beacon Hill/Back Bay loft style condo offer 13+ ft ceiling with gorgeous soaring wood ceiling and exposed brick walls in living room and master bedroom, updated kitchen with stainless steel appliances, granite countertop and tiled backsplash, hardwood flooring throughout, Central air, stackable washer and dryer hook up in unit, extra large storage room in lower level, 2 deeded parking spaces, amenity include gym with sauna, function room, Convenient to Malden Center, public transportation, restaurant, shopping, E Coast Greenway(walking and biking trail), pet friendly. Open house Saturday and Sunday 12pm-2pm.
Open House
Saturday
January 25 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 10 Linwood St, Malden, MA 02148    Get Directions

Similar Properties





Tags: Real estate   Condo   Open House   02148   Malden  
Categories: Open House  


Posted by John Boey on 1/19/2020

Image by Agover from Pixabay

Where do you start when you first consider purchasing a home? Buyers who are new to the real estate market may not know exactly what they want in a house or where they want to live. While the dream homes found online, in magazines, and on your favorite television show are great resources for design and style, visiting open house events will help you to hone in on features that will best serve your household.

When visiting open houses, follow these tips to make the most of your time:

  • Allow plenty of time for each house on your list. If the home appeals to you, take a few moments afterward to drive or walk around the neighborhood.

  • Create a list of must-havesí, likes, and dislikes to help you evaluate each property. Add ideas that appeal to you during each open house experience.

  • Sign in when you arrive but let the hosting agent know if youíve already selected a real estate agent.

  • Dress comfortably. You might climb stairs, descend into basements, visit attics, or walk from house to house in the neighborhood so be sure to wear appropriate clothing and shoes.

  • As you tour, create a list of questions for your real estate agent to address with the selling agent if you plan to submit an offer.

  • Do not peek into closets, cupboards, pantries, or drawers if the hosting agent indicates are off-limits. Your agent can arrange an in-depth viewing if youíre the property is one youíd like to pursue.

  • Take note if you smell deodorizers and air fresheners. They could be masking pet odors or could indicate something more serious. If youíre interested in making an offer, ask your agent for help identifying the source before moving forward.

  • Respect the seller's privacy by not taking photos without the hostís permission.

Questions related to making an offer and other negotiations should be funneled through your real estate agent. If youíre interested in the property, ask your agent to arrange a follow-up viewing. Make a list of all your questions and follow up with your agent as soon as possible especially if you want to make an offer on the property.





Posted by John Boey on 1/15/2020


10 Linwood St, Malden, MA 02148

Condo

$429,900
Price

7
Rooms
2
Beds
1/1
Full/Half Baths
Great opportunity to own the largest unit at Malden Mills Condominiums. This spacious 2 bedrooms 1.5 baths with an office could be used as the 3rd bedroom, Beacon Hill/Back Bay loft style condo offer 13+ ft ceiling with gorgeous soaring wood ceiling and exposed brick walls in living room and master bedroom, updated kitchen with stainless steel appliances, granite countertop and tiled backsplash, hardwood flooring throughout, Central air, stackable washer and dryer in unit, extra large storage room in lower level, 2 deeded parking spaces, amenity include gym with sauna, function room, Convenient to Malden Center, public transportation, restaurant, shopping, E Coast Greenway(walking and biking trail), pet friendly. Open house Saturday and Sunday 12pm-2pm.
Open House
Saturday
January 18 at 12:00 PM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 10 Linwood St, Malden, MA 02148    Get Directions

Similar Properties





Tags: Real estate   Condo   02148   Malden  
Categories: New Homes  


Posted by John Boey on 1/15/2020


10 Linwood St, Malden, MA 02148

Condo

$429,900
Price

7
Rooms
2
Beds
1/1
Full/Half Baths
Great opportunity to own the largest unit at Malden Mills Condominiums. This spacious 2 bedrooms 1.5 baths with an office could be used as the 3rd bedroom, Beacon Hill/Back Bay loft style condo offer 13+ ft ceiling with gorgeous soaring wood ceiling and exposed brick walls in living room and master bedroom, updated kitchen with stainless steel appliances, granite countertop and tiled backsplash, hardwood flooring throughout, Central air, stackable washer and dryer in unit, extra large storage room in lower level, 2 deeded parking spaces, amenity include gym with sauna, function room, Convenient to Malden Center, public transportation, restaurant, shopping, E Coast Greenway(walking and biking trail), pet friendly. Open house Saturday and Sunday 12pm-2pm.
Open House
Saturday
January 18 at 12:00 PM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 10 Linwood St, Malden, MA 02148    Get Directions

Similar Properties





Tags: Real estate   Condo   Open House   02148   Malden  
Categories: Open House  




Tags