Filing Taxes as a New Homeowner

For Miniature house with money on tax papersmany new homeowners the year you buy your own home will also be the first year you do not take the standard deduction when doing your taxes. It can be confusing to know what is eligible for itemization and what is not. Most homeowners will end up itemizing their loan costs and fees, mortgage interest, property taxes and private mortgage insurance. New homeowners should also consider itemizing all of the stuff they donated before moving as a charitable deduction. Many homeowners file their taxes on their own with little outside help, however, if the owner has a home office or their lender sold the mortgage to a different lender they may benefit from the help of a professional accountant.

Bottom Line:

Check out HouseLogic’s tax tips for homeowners. Speak with an accountant in your area about advice he or she gives to new homeowners. Talk with local homeowners about the first time they filed taxes after buying their home.

What’s Your Home Worth?

Search for Your New Home

25496 N 160 Lane Surprise, AZ 85387

$447,590
4 Beds
3 Baths
2,049 SqFt
Status Active
MLS # 6669086
Property Type Single Family Residence
Price Type --
Brand new, energy-efficient home ready NOW! Large great room and dining space. The kids can create their own play space in the included flex space. White cabinets with quartz countertop and grey tile flooring in our Balanced package. Come tour our five brand-new models at Paloma Creek. Envision your next chapter by experiencing the exclusive amenities including a clubhouse, pool, and future fitness center. Pick from a variety of floorplans featuring walk-in closets and flex spaces. Each energy-efficient home comes standard with features that allow your whole family to live better and breathe easier too.* Visit Paloma Creek today. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

41585 W Coyote Run Maricopa, AZ 85138

$447,590
5 Beds
3 Baths
2,552 SqFt
Status Active
MLS # 6635222
Property Type Single Family Residence
Price Type --
Brand new, energy-efficient home available NOW! Each of the five bedrooms in this floorplan features a spacious walk-in closet. White cabinets and granite countertops, tile flooring with brown carpet in our Distinct package. Enjoy 3-car and RV garages at Copper Ridge located in Maricopa. Your family will enjoy Maricopa's small town feel and local hubs. Plus, all the resources of metro Phoenix are only a short drive away. We also build each home with innovative, energy-efficient features that cut down on utility bills so you can afford to do more living.* Visit Copper Ridge today. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

2332 W Monte Cristo Avenue Phoenix, AZ 85023

$447,500
4 Beds
2 Baths
1,457 SqFt
Status Active
MLS # 6671871
Property Type Single Family Residence
Price Type --
Newly remodeled home at 2332 W Monte Cristo, Phoenix, AZ, features 4 bedrooms, 2-car garage, and 2 living rooms. Modern upgrades offer style and convenience in a spacious layout. Located in a vibrant Phoenix area, known for excellent schools, shopping, dining, and leisure activities, this property combines comfort with the benefits of city living. Ideal for those seeking a turnkey home in a thriving community.

6668 E Saddlehorn Circle Hereford, AZ 85615

$447,500
3 Beds
2 Baths
1,825 SqFt
Status Active
MLS # 6628206
Property Type Single Family Residence
Price Type --
No need to wait for a home to be built. This one is only 2 yrs old and in perfect condition and has all window blinds installed, landscaped yard, and water softener added. This gorgeous 3 bed 2 bath home features all tile flooring throughout, quartz countertops, and stainless appliances. The primary bedroom is very large with a beautiful bath and large walk in closet. The other bedrooms are nice sized whether they are for children, guests or office. The home also features a full length covered patio to sit outside and enjoy the awesome views and spectacular sunsets. The garage is oversized so there room for bikes or exercise equipment. This home is spotless and is truly move in ready to enjoy in the Kings Ranch Subdivision.

Leave a Reply

Your email address will not be published.