Top Northern Kentucky Realtor: Downsizing Your Home

Wednesday, August 10, 2011

Downsize Your Home To Downsize Expenses - How Will The Taxes Effect Me

Calculating Taxes and Mill Rates
Real estate taxes are generally the next largest expense for homeowners and, unlike the mortgage payment, they never go away. Downsizing your home is an easy way to minimize real estate taxes. Simply moving from a 3,000-square-foot home to a 1,500-square-foot home can cut your taxes by half. See the example below.

Example - Downsizing Tax Liability
The owner of a 3,000-square-foot home assessed at $300,000 and taxed at a 30-mills-tax rate pays about $9,000 per year ($300,000 x 0.03) in real estate taxes, while a 1500-square-foot home assessed at $150,000 and taxed at a 30-mills-tax rate pays about $4,500 per year in real estate taxes. This means that if you trade down from a 3,000-square-foot home to a 1,500-square-foot home you could cut your taxes by 50%.

via investopedia.com

Bob Abner (Huff Realty) is a well-respected, top Realtor in the Northern Kentucky/Greater Cincinnati real estate market with vast experience in the real estate industry. For Northern Kentucky Real Estate Listings and Home buying and selling Information visit: http://www.BobAbnerHomePros.com

Bob Abner, top full time Realtor in the Northern Kentucky area, serves the Campbell County, Kenton County and Boone County real estate market. Affiliated with Huff Realty, Bob gives both Buyer and Seller the very best in service and marketing. Sellers-marketing and exposure doesn’t stop until the house is sold. Bob Abner and Huff Realty are leaders in the real estate industry, selling your house in today’s market giving you a host of proven strategies producing the most exposure to get your home sold as quickly and profitable as possible. Buyers-you get years of real estate knowledge, expertise, and a myriad of services from beginning to end. Huff Mortgage has competitive rates, works closely with Bob and gives you e-mail updates each step of your loan progresses. Huff Title makes the closing process go smoothly. Huff Insurance has competitive rates and excellent customer service. One-stop shopping makes the home buying process as simple and problem free. Testimonials attest to Bob's hard work, communication and outstanding ability to negotiate and problem solve. Whether selling or buying a home, there is no better Realtor in the Northern Kentucky area than Bob Abner.

Monday, August 8, 2011

Downsize Your Home To Downsize Expenses

Downsizing your home is most commonly associated with empty-nesters and retirees looking for smaller spaces after the kids have moved out, but it's also becoming a more popular move for a growing number of hard-working, money-smart homeowners. It's also a move that makes a lot of financial sense.
From a corporate perspective, the whole concept of downsizing is financial. Companies close facilities, shed business lines and lay off workers in order to save money. When they do, cheers and stock prices rise because Wll Street lower expenses lead to bigger profits. The exact same thing occurs, on a smaller and more personal scale, when you downsize your house.

via investopedia.com

Bob Abner