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Is it smart for me to buy a home right now in south Florida?
I had a baby this year and I want to buy a house this year also. For tax purposes, will it be smart for me to buy property? because of this I have to do less tax deductions and will receive less money back for 2012. But I am afraid that the market will go up and I will no longer find a good deal if I wait until next year to buy the home. I need advice please
3 Answers
- A HunchLv 78 years ago
Because of what, you will receive less tax deductions and receive a smaller refund?
- having a baby would increase your tax deductions
- what you do in 2013, has no impact on what happens with your 2012 taxes.
California real estate is on a big rebound. I have not heard the same for South Florida. You can probably wait years to purchase a house and be able to get a similar deal to what you can get now.
- sophiebLv 78 years ago
Normally homes in South Florida are expensive, but the cost went down after the foreclosure fiasco in 2008. From what I understand people who flip properties came in and bought up as many as they could and so few homes are for sale on the market now in Florida (all over) that homes are selling now within 24 hours. So I doubt if you will even have a chance against those investors.