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DC
METRO REAL ESTATE
Serving
the Real Estate needs of the communities of
Manassas, Bristow, Haymarket, Warrenton, Gainesville
and Culpeper in Northern Virginia
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Dave
Scardina
Broker
/ Owner
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703-829-SOLD
866-909-0900
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Bristow Real Estate SearchAdjustable Rate Loans for Bristow
ARMS may be called by various names including, variable-rate loans, adjustable rate loans or adjustable mortgage loans for your Bristow home. They all feature an interest rate that can vary over the rate of the loan.
Advantages: The monthly payment on a typical ARM is lower in the early stages than the fixed rate loan. This may make it easier for the buyer to afford the Bristowhome.
Disadvantages: As interest rates increase, your monthly payment may increase or the amount of your payment applied to the principle may decrease which means that you must gamble on property appreciation to offset this increase in your indebtedness.
Bristow Homebuyers Quandry
First time Bristow homebuyers have their issues to deal with and homeowners who want to move up, down or sideways have an entirely different set of problems. A homeowner’s first task is to counteract human nature. Humans must be genetically programmed to find their next home and then scramble to sell the one they have so they can afford the one they want. The Bristow market is no exception. Of course, this is contrary to good sense but since most people will go ahead with the Buy then Sell approach.
Green Remodeling Your Bristow
Reduced material waste and resource conservation. When remodeling your Bristow, there is often a large amount of construction waste: 136 million tons of waste annually, or about 20% of the waste in landfills, according to the EPA.
If you are planning to remodel your Bristow anyway, going green offers money-saving advantages. In addition to increasing the value of your home, you will cut monthly operating costs, reduce waste and improve overall health.
The Benefits of Selling Bristow
If your Bristow holdings consist of both a personal residence and a rental, you can sell your personal residence and exclude up to $250,000 ($500,000 for a married couple) on the gain. Then you move into your rental, live in it as your personal residence for two years and then sell it, again benefiting from the $250,000 or $500,000 exclusion. This is true even though most or all of the increase in value occurred before you converted the property to your personal residence.
What Makes Bristow Sell?
If your only reason for selling your Bristow is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the Bristow for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low.
Bristow DEDUCTIONS
One of the advantages of home ownership is that while most other types of interest are not tax deductible, the interest you pay on your Bristow loan is deductible on your Federal and State income tax. This fact alone gives homeowners a distinct advantage over renters.
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