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Move-Up Tax Analysis
Move-up buyers face different issues when making the decision to purchase a home than do first time homebuyers.
1. Often they want to reach to the stars to purchase their "dream" home.
2. They usually have factors to weigh like college expenses, car payments, second homes
retirement planning, etc., that first time homebuyers don't have.
Both of these issues can result in the move-up buyer becoming very uncomfortable with the monthly payment they are facing.
Tax analysis shows homebuyers hidden savings when moving up.
To ease the concerns of the move-up buyer and create a level of comfort with their prospective new house payment, we have a detailed review we call the "Move-up Tax Analysis". This simple program provides information to the client that allows them to not only make a more informed decision of whether "moving up" is a viable option for them, but also whether they should stretch even more to purchase their "dream" home.
    Actual
1040 		1040 after
new purchase

The above is a summary of the proprietary Move-Up Tax Analysis by Cherry Creek Mortgage. The full report includes a line by line comparison of past and prospective taxes on form 1040 and Schedule A. Call me to schedule a Move-Up Tax Analysis. To protect privacy, the chart above is of a different analysis than referred to in the article. The clients in this example benefited when their refund increased from $2,616 to $9,925, or by $609 per month!

While first-time homebuyers tend to have fewer financial complications and move-down buyers usually have a strong cash position, move-up buyers often have to weigh factors such as college funds, multiple car payments, a family vacation, a major career move or retirement planning. In the end, the mortgage payment they qualify for may not be the one they can comfortably afford.

This was the predicament faced by Jeff and Sally, who had been looking at new homes. While well qualified, they were worried about the squeeze the monthly payment would put on their cash flow. They turned to Cherry Creek Mortgage, who had financed their previous home. Using the MOVE-UP TAX ANALYSIS, we showed the couple how purchasing their dream home would provide them with an aditional $501.27 in monthly income tax benefits, or $6,015.24 per year. (To protect privacy, the chart above reflects another analysis, not that done for Jeff and Sally.

Tax Analysis Typically Focuses on First-Time Buyer

Almost all the consumer education available about the tax benefits of owning a home is directed at first-time buyers, so it's not surprising that many move-up buyers don't give enough consideration to this variable. Not everyone wants to stretch their monthly payment to the maximum, but everyone does want to get the most house that they can comfortably afford. Call today for your Free, personalized Move-Up Tax Analysis.

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