Moving In The Right Direction

Settling into married life often also means settling into a new “home”…. a comfortable place to build your new relationship as husband and wife.

In this “real-life” version of “trading spaces” you are both going to have to make some perhaps “extreme” domestic decisions.

Will you move into his place, or he into yours? Will you both continue to live with your parents or his? Do your prefer a “crib” in the inner city or do you have “loftier” ideas about an apartment in the “burbs”? Then of course there’s the dynamics behind whether you should rent or buy.

The key to success and making a sensible decision is keeping an open door for discussion and an open mind concerning options and possibilities.

Look Ahead: Be realistic about the blueprints of your future. Where do you see yourselves two, maybe five years from now? If there are any concerns regarding job stability or the ability to afford living in a certain areas, you may not want to invest in a long-term commitment.

,b>Review Your Invested Interest: Weigh out the benefits of buying vs. renting….and determine whether buying would really pay off. Rent controlled facilities remain among your lease attractive options, offering you a solid foundation to save from.

Are You Getting Yourself Into A Taxing Situation?: Remember, not all home purchases afford you the luxury of a tax break. Government tax breaks on home purchases and mortgage interest only apply to those investing in “lower end” property. Consider that a deduction of just over $6,500 is standard for couples filing jointly. Unless your yearly mortgage income is greater than this, you’re not entitled to any additional breaks.

Whatever you decide, keep in mind that this ground breaking decision is one that both of you should feel comfortable and content with….and one that your hearts really into…after all, no matter where you live, “home” is where the heart is.

 
Moving In The Right Direction

 
Long Island Families - Long Island, NY
 

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