Why Buy?

Why Buy?

Why Buy?

WANT TO TAKE A BITE OUT OF THE BIG APPLE? THERE ARE MANY REASONS TO CONSIDER HOMEOWNERSHIP OVER RENTING:

• Property Appreciation. Historically, NYC has seen property values rise over time. Buying is a great way to let your money work for you.
• Tax Write-Offs. Enjoy the ability to write off a portion of your monthly costs. As a primary or secondary residence, the interest payments of your loan (up to $750,000 of loan value), as well as the real estate tax that is apportioned to your apartment/home, may be able to be deducted to a limit. Please consult with your accountant about your eligibility.
• Build Equity. As your property appreciates in value, you can use the equity you build to “trade up” to purchase a larger home or simply amass greater savings.
• Capital Improvements. Unlike a rental property, as you invest in the cosmetic or structural improvement of your home, it is directly correlated to increasing the value of the home itself.
• Capital Gains Primary Residence. Exclusion If you purchase a primary residence and live there for more than 2 years, you can exclude up to $250,000 in capital gain from tax if you are single, and up to $500,000 for a couple.
• 1031 Exchange. A 1031 Exchange allows you to sell an investment property and reinvest in a like-kind replacement property within a period of time in order to defer taxes on recognition of capital gains and related federal income tax liability.

_{All information is from sources deemed reliable but is subject to errors, omissions, changes in market, laws, price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description or estimates or that any financial projections can be achieved. Actual results are subject to changes in market conditions, tax and interest rates and other factors. All measurements and square footages are approximate and all information should be confirmed by customer. Customers should consult with their professional advisors for tax and financial specifics.}