#home-ownership
Track home ownership costs, mortgage, and property expenses
Nashville now lets permitted home businesses see 12 clients a day with no set hours. What Tennessee owners must file — and the IRS home-office payoff.
A $40-to-$160 water backup endorsement buys back sewer-drain coverage every standard policy excludes — buy a $25,000 limit for a finished basement.
A community land trust sells you the house and keeps the land on a 99-year ground lease: a far lower price now, with resale gains capped near 25%.
Canceled mortgage debt is taxable income again in 2026 — the IRS principal-residence exclusion expired. Insolvency and bankruptcy on Form 982 can shelter you.
Florida taxes deeds at $0.70 per $100 and mortgages at $0.35 plus $0.20 per $100 — $5,700 on a $500K purchase with a $400K loan, before title fees.
Win a US property tax appeal with evidence: fix record errors, file 3-5 arm's-length comps, and add an unequal-appraisal claim before the 30-60 day deadline.
Section 121 won't shield home-office depreciation: the IRS taxes it as unrecaptured Section 1250 gain at up to 25%, even if you never claimed it.
Conventional PMI ends two ways: request cancellation in writing at 80% LTV, or wait for automatic termination at 78%. FHA MIP can run for the loan's life.
Home equity agreements trade cash now for a share of your home's future value — no interest, but a balloon settlement and no IRS mortgage-interest deduction.
FHA, VA and USDA mortgages can be assumed at the seller's 3% rate while new loans cost 6.76%; the catch is the equity gap due at closing.
ADU rental income goes on IRS Schedule E: split shared costs by square footage, depreciate the unit over 27.5 years, and plan for 25% recapture tax at sale.
In a contract for deed, the seller keeps legal title until your last payment while you pay the taxes, insurance, and repairs. Since the CFPB's 2024 advisory opinion, covered sellers must assess ability to repay, disclose the APR, and face limits on balloon payments.
