Rising Rates Join Long List of Housing Dilemmas
Homebuyers braving the hot U.S. housing market have run headlong into a striking transition. The average interest rate for a 30-year fixed mortgage jumped from around 3.2% at the beginning of 2022 to 5.3% in mid-May, the highest level since 2009. This rise was sparked by the Federal Reserve’s commitment to raise the federal funds […]
Vacation Home Rentals: How the Income Is Taxed
If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, you may have questions about how rental income is taxed for a part-time vacation-home rental. We explain in this week’s Tax Tip.
Preparing for a Natural Disaster
A severe storm or other catastrophic event often strikes with little warning, can result in costly damage to your home, and puts your family’s safety at risk. Being prepared may help you make it through a natural disaster safely.
Should You Consider Tapping the Equity in Your Home?
With home values skyrocketing recently, your home may be one of your largest assets. Using home equity to help finance other financial objectives is a strategy many people consider, but before doing so be sure you understand the risks as well as the potential benefits.
3 Things to Consider Before Buying a Vacation Home
The COVID-19 pandemic in 2020 led to a surge in demand for vacation/second homes. If you are thinking about buying a vacation home, we cover 3 things to consider before taking the plunge.
Tax Issues That Arise When Converting a Home into a Rental
The benefits of turning your home into a rental include cash income, tax write-offs, and most of all, long- term appreciation of the property. Before you place the “For Rent” sign, consider the tax consequences.
Considering Paying Cash for Your House? Opt for Carrying a Mortgage Instead
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Managing Associate Jarrett McKenzie, CFP®, CWS®, and Senior Financial Planner Clay Norman, CFP®, to look at a client situation where a couple was able to sell their home for an incredible profit; however, they’re looking to buy their new home with cash rather than a mortgage.
Starting the New Year on the Right Financial Footing
Research Analyst Nick Antonucci, CVA, CEPA, Senior Associate Melanie Wells, CFP®, and a Financial Planner provide a list of financial moves for a couple of investors looking to start the new year on the right foot financially.
Too Hot to Handle: What’s Ahead for the U.S. Housing Market?
Home prices are so high that some buyers are backing off, but demand remains strong and will outstrip housing supply for the foreseeable future.
Insuring Your Vacation Home
Most homeowners insurance policies provide limited coverage for personal property at an additional residence. However, if your coverage needs for your vacation home exceed this amount, you’re going to want to fill this gap by purchasing a policy that will cover your vacation home in its entirety.