Weather a first timer, a Seasoned Home Buyer or a Second Homeowner. It is interesting to take a look at some of the reasons that motivate people to want to own a home, especially one in The Berkshires. Here are some Tips for the Berkshire Home Buyer.
The Berkshire Lifestyle of Culture, Outdoor Activities and Natural Beauty makes Berkshire Real Estate an excellent choice for the Second Homeowner, Snow Birds, and Retirees.
We always here about location, location, location. The Berkshires are 2/12 hrs from the New York tri state area, and about the same distance from Boston. Making Berkshire County easy to get to and yet miles away from the hustle and bustle of city or suburban life.
According to a variety of surveys the top reason one wants to own a home is a sense of pride. Owning your own home allows you to fully self express, creating a surrounding in your own style and taste.
Homeownership provides a sense of stability and an investment in your future.
Speaking of investment another reason is appreciation. I know real estate has been rocky the last couple years, but the savy home buyer knows that Real estate runs in cycles and has always appreciated through the years.
Lucky for us The Berskhires has not been hit with as slow a market as other areas in the country. Yes, prices are somewhat down over the market high of a few years ago. Making this a perfect time to buy that vacation or second home. Knowing that you are getting good value, a great lifestyle, and an investment that will appreciate over time.
Then there is the tax side of things. Interest on mortgages are tax deductible as long as your mortgages are smaller then the value of your home. Real Estate taxes are fully deductable for a vacation home as well as for the first time home buyer. Big break on capital gains when you sell. If you have lived in your house for at least 2 years an individual can exclude up to $250,000, and a couple up to $500,000.
Then there is the equity side, many people take a home equity loan to pay off high interest on credit cards, since the interest on a home equity is generally less and it is tax deductible. Other reasons for a home equity loan include college tuition, medical, or starting a new business.
If you are beginning to explore the possibility of buying a home in The Berkshires I would be glad to help guide you toward creating your perfect Berkshre Country Home.
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For more information: call Marlene @ 413 717-0773
photo: courtesy of architectural digest
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