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5 Homeowner Tax Breaks You Should Be Taking Advantage Of

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2019 comes with some tax reform and specific changes that you and your CPA should be aware of. Regardless, there are specific tax breaks you as a homeowner should be taking advantage. The tax changes did not affect these write-offs, but it is always good to check with your accountant before assuming you can receive a credit for anything.

Interest on home-improvement loans

The IRS considers the interest on a home-improvement loan fully deductible, up to $100K in debt. So if you’ve been holding off on making those home changes, consider using a loan so you can write off the interest. In addition, interest paid on a home equity line of credit (HELOC) is also tax-deductible. However, keep in mind that any home loan that is worth more than the value of the property is not deductible.

Property Tax

You might think all of your property taxes are deductible, and in most cases you would be right. Though, there are some specific things on your settlement document that might look like taxes but aren’t. You cannot deduct your attorney and appraisal fees, title insurance and credit report costs either.

Residential Renewable Energy Tax Credit

If you made efforts to make your home more energy-efficient then you could qualify for the energy-efficiency tax credit. This credit includes solar, wind, geothermal and fuel-cell technology. So, if you installed solar panels, solar-powered water heaters, wind turbines or geothermal heat pumps then you may qualify for this tax credit.

Non-business Energy Property Tax Credit

In addition to the major energy-efficient renovations, you could also qualify for the nonbusiness energy property tax credit. This would include more minor upgrades to the home, such as home insulation, exterior doors, exterior windows or certain roofing materials.

Home improvements for medical purposes

This is an interesting one and many times overlooked. If you made any home improved that were related to a medical necessity then you can deduct the cost of the home improvement under medical expenses. Let me give you two scenarios in which this could be applicable:

A first time homebuyer has to remove all the carpets in their new house because the carpets were so full of pet dander from the previous owners. As a result, the new homeowner was having asthma attacks or trouble breathing. Removing the carpets and replacing them (with whatever they choose) would be deductible under medical expenses if you can provide documentation proving the medical issue.

In another scenario, and elderly woman had an accident and fell in her shower. She broke her hip and would be in recovery for months. Medical recovery prevented her from climbing stairs or climbing into a bathtub. The issue was the only walk-in shower she had was upstairs on the second floor. As a result she had to remodel one of her down stair bathrooms into a walk-in shower. This could be deducted under medical expenses as long as she provided all necessary documentation.

We hope all this information was helpful as you work on your tax return this year. Don’t forget to check everything with your accountant. And don’t forget to hire Divinity Inspection Services for your residential or commercial property inspection needs. 

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When To Schedule A Walk Through And When To Skip It

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Every home buyer encounters love at first sight when they are on the hunt to purchase a home. At least once you will find yourself drooling over pictures of what could be your future house. However, pictures can most certainly be misleading and your time is precious. So before you jump on the phone to schedule a walk through with your realtor, take a second look at those picture. Here are some specific home defects you can look for.

Spacing can be a giveaway

The most popular pictures for selling a home is using a wide scope. This has become a trend in the last few years. And while a wide scope can help give you the full picture of a room, it can also really misshape the space of the room. The house could seem much bigger than it actually is. This is when you encounter disappointment after taking the time to schedule a walk through.

Before you put the house on your calendar take another look through the photos. One way to check the spacing is by looking at items and the distance from one to another. For example, if you are looking at a wide scope picture of a kitchen then you can look at the distance between the appliances. Even in a wide scope photo this should be a pretty good giveaway of the actual space.

Look at the walls and ceilings

In most photos you will have walls in the backgrounds. Sometimes the photos will include the ceilings. Here you can check for any major cracks, discoloration or stains. I wouldn’t make any assumptions based on what you see, but if you do spot a major concern then it could be a dead giveaway.

In many cases, new paint will cover any discoloration that would elude to water damage or mold. You don’t need to worry because if there is any, we’ll find it in the home inspection.

Landscaping can also give you clues

You may be surprised at what you can find in the pictures around the home. Many people overlook clear signs of standing water, flooding or other damage. For example, you may see on the outside of the house a line of debris. This is usually an indication of high water. The house could have problems with drainage.

Also take a look at Google’s satellite image of the neighborhood. Do the neighbors take care of their lawns and homes? This is minor but could be an indication of the kind of neighborhood the house is situated in.

Don’t let pictures deceive you. These homes waste your time and energy when there are many homes you could fall in love with. However, don’t be afraid of any undiscovered concerns. By hiring the right home inspector, you have nothing to worry about.

3 Key Areas Looked at During a Commercial Building Inspection

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commercial building inspectionWhether you’re looking to buy or sell a building or just want to make sure everything is up to code, a commercial building inspection is always a good idea. While about 90% of U.S. homeowners agree that home inspections are a necessity, building inspections are just as, if not more, important. So if you own a building and are looking to schedule an inspection, here are a few key areas that will be looked at by the nationally certified master inspector.

Interior walls: Even if the building looks fine on the outside, there could be a lot of warning signs of problems on the inside. Signs of poor ventilation, mold or mildew, and water damage will be looked for during the inspection. Additionally, commercial building inspectors will check all of the windows, doors, and stairs along with the walls and ceilings. Overall, the inspector will give the entire interior of the building a throughout examination.

The roof: One of the most important aspects of a building is the roof. Without a proper roof, the building, and everything inside, could easily become damaged. This is why checking out the roof is an important part of a commercial building inspection. The inspector will look for damaged or missing parts of the roof and they’ll also look for water damage or buildup. Ensuring the roof is in good shape is an important step to ensuring the rest of the building is too.

Plumbing and HVAC: Besides the building itself, there are also a few key components within the building that are looked at during an inspection. Two of these components are the plumbing and the HVAC systems. When it comes to plumbing, the inspector will look at the water supply, fixtures, drainage, and overall installation of the pipes to be looked at. And as for the HVAC system, any furnaces, boilers, and vents in the building will be tested to ensure they work properly.

There are several different parts of a building inspection to ensure the building as a whole is in good condition. So if you are looking to sell or buy a building, make sure you schedule an inspection with a reputable company.

4 Reasons Why You Absolutely Need A Home Inspection

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home inspection servicesThere are many necessary costs that come with buying a home. Realtor and lawyers fees can take a lot out of you and you might be tempted to look for ways to save money. One of those potential ways is to skip your home inspection.

But 90% of U.S. homeowners say that a home inspection isn’t a luxury, but a necessity. And we agree. Here are four reasons why you need a home inspection before you officially buy your house.

  1. Home inspection services keep you safe. Radon is a colorless, odorless, tasteless gas. Without a home inspector, you can’t tell if your potential home has high radon levels. A home inspection detects safety issues like radon, carbon monoxide, mold, infestations, and other hazards that give you the option to cancel your offer to buy the house.
  2. Home inspections can reveal illegal additions. A house with illegal additions that weren’t permitted impacts the property’s insurance, taxes, usability, and value. You could be buying a piece of property that doesn’t legally exist.
  3. Home inspections protect your investment. You’re investing in a house not only because you’re ready to settle down in the neighborhood but also because that house will build equity over time. A home inspection determines whether or not you really will be making any money on the house or if you’ll be losing it to major repairs like mold removal and plumbing replacements.
  4. You get an accurate estimate of future costs. Part of being a homeowner means making repairs on areas of the house when needed. Home inspection services can determine how old your furnace is, how old your roof is, what the quality of the property is, and more. These factors inform your choice of home insurance coverage and warranties.

Where can I find home inspection services near me?

The average home inspection takes between two to four hours to conduct. In that time, a building inspector can save you thousands of dollars by finding issues that you might not have been able to find until after you bought the house.

The home inspection services of Divinity Inspection Services can give you the peace of mind you need whether you’re buying a house or investing in commercial property. To learn more about our new-construction inspection and commercial property inspection services, contact Divinity Inspection Services today.

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The 3 Top Kitchen Design Trends for 2019

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If you are ready to give your old kitchen an update, be sure to check out the top five kitchen design trends for 2019. While you don’t want to choose an look so trendy that it actually becomes outdated within a few years, these timeless designs are winners from the start.

Two-Toned Colors

Two-toned designs have been on trend for a few years now, but really coming into their own in 2019. Most opt to keep all the upper cabinets the same color and all the lower cabinets a different color. Others will make only the island a different color from the rest of the cabinets. Whichever combination you choose this trend will dress your kitchen to impress.

Herringbone Tile With Bright Grout Lines

Everyone is finding new ways to get creative the with the herringbone pattern. Dark colored tile with a bright grout line is a great way to get creative. Especially as a kitchen backsplash with matching colored cabinets. Let the lines pop while everything else brings a rich tone to the mix.

Bold Backsplash

Speaking of the kitchen backsplash, a bold kitchen backsplash is back! For a few years we were all in love with the all-white kitchen. White cabinets with a white backsplash or a very subtle-colored backsplash. Not anymore. Now we want something bold with rich, deep colors and creative patterns. Even with white cabinets these are sure to pop!

If you are doing the kitchen remodel yourself be sure to pull all the right permits if needed. If you plan to hire someone to remodel your kitchen be sure to do your due diligence with research and interviews. Don’t forget this will make a big difference if you decide late to sell your home.