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Displaying blog entries 1-10 of 820

Hinsdale's Annual Christmas Walk Is This Week

by Bryan Bomba

For the 49th year, Hinsdale IL will be holding its Christmas Walk in downtown Hinsdale. On Friday December 5 from 4pm to 8pm, there will be a tree-lighting event, entertainment, and give aways from the retailers, who will be open late that evening. It's a wonderful family event, particularly with small kids. If you plan on dining in downtown Hinsdale, make your reservations early. 

Don't Pay Full Retail For Fireplace Accessories

by Bryan Bomba

 

As I was shopping for a custom fireplace screen (standard sized ones would not fit), I could not help from feeling the feeling of being gouged by the prices of fireplace accessories. I realize it's now "on" season and all, but this felt like the kind of rip off that you usually can only find at a place like Disney World ($6 bottles of water, etc.)

In any case, I came across a true find. I was being quoted anywhere from $500 to $1,000 for a fairly basic fireplace screen. And then I found Aspen Industries in Bensenville where I had one made for under $150 in less than a week. 

They make everything from fireplace screens to hinged domes for fire pits. 

When you pick up your purchase, make sure it's around lunch time so you can stop off at Asti Italian Deli (you'll avoid the industrial park traffic if you travel at midday as well)


The Excitement Of An Epoxy-coated Garage Floor

by Bryan Bomba

Is it wrong for a man to be unnaturally enamored by an epoxy floor coating? I just had Floorguard epoxy coat my garage floor. It's the 3rd garage they did for me and it's one of those things I just don't want to live without. Absolutely no exposed concrete. Easy clean up. Cost is about $4-$5/SF. Places like White Rabbit charge $6/SF.

Significant Tax Benefits Of Buying A Home

by Bryan Bomba

When considering purchasing a larger home, it is prudent to take into account the tax benefits that may be available to you. 

INTEREST

It stands to reason that if you are buying a larger home, your mortgage loan may also be larger. Interest for a mortgage loan is fully deductible up to $1 million.  Interest tax breaks don’t end with your home’s first mortgage either.   Any interest paid on a home equity line of $100,000 or less is deductible.

If you are considering a second home, consider that the interest you pay for that mortgage is also fully deductible.  You can even rent it out for part of the year and still deduct the mortgage interest you pay for that property.  However, you must vacation at least 14 days at your second property, or more than 10% of the number of days that you do rent it out, whichever is less.  Otherwise, the IRS could consider the property a rental property, and you may not be able to take the interest as a taxable deduction.

REAL ESTATE TAXES

All real estate taxes paid by you for your primary residence within a calendar year are tax deductible from your taxable income.  Taxes are typically prorated as of the day of closing, so you are also able to deduct any taxes that were paid by you as of that date.  Any real estate taxes you pay for a second home or a rental property are also deductible.

POINTS

A point is a fee you pay a lender in order to get a better interest rate.  Typically a point is 1% of the loan amount.  These, too, are fully tax deductible the year you pay them if the loan is used to purchase or build your main home.

These are a few illustrations of tax benefits that can be considered when purchasing a new or larger home.  Consult with an accountant for more!  If you do not have a good one, ask me--I'll be happy to refer one to you.

Hard-To-Find First Floor Master Suite in Clarendon Hills

by Bryan Bomba

 

 

 

 

 

 

 

Because the lots in Clarendon Hills tend not to be overly large, it is hard-to-find a home with a first floor master suite. Here's a rare opportunity for you to enjoy the daily benefits of not having to traverse stairs to get to your master suite each evening. 

As you can see by viewing the virtual tour of 123 Walker in Clarendon Hills IL 60514 this is not your common home. According to the assessor, there is nearly 4,500 square feet of above ground living area in this home. Most homes here measure about 3,330 square feet, so you can see the size differential is significant. And the square footage of approximately 4,500 square feet does not include the finished lower level!

Add a three car attached garage and  a wonderful walk to location in the Walker grade school area to the equation and the result is a truly special family home. 

If you are intrigued and think that you may have interest, please contact Bryan Bomba, the exclusive marketing agent for your own private tour. You will not be disappointed. 

 

 

How To Keep From Being Screwed By A Builder

by Bryan Bomba

When building a new home, there are a lot of ways that a consumer can get screwed by an unscrupulous builder. 

The easiest way to protect yourself is to do business with known entities. Whenever I broker a transaction which involves a builder, I emphatically advise my client about the pros and cons of doing business with that specific builder. Regardless of how strong of a construction contract that is drawn, there will be gray areas where the builder can harm you-or not.

The one minute short course on builder selection involves the following rules:

1. References. Get a completed and unedited list of every person the builder has worked for over the past three years. If you want to be extra thorough, personally go to the building department in the towns where the builder works and ask for that same list (you may need to file a freedom of information act form to get it). If names are omitted from the list which was given to you by the builder, ask why. Contact these references and ask about their experience with the developer. 

2. Credit score. This is an excellent measure of the builder's worthiness. If he has a history of not paying his subcontractors, he will be reluctant to to show you his credit score. Do not settle for excuses. 

3. Business entity. Reputable builders build under the same name for years. Sleazy builders change their names often. The bad guys go from one LLC to another. 

Please be careful. Improper builder selection is a gut-wrenching nightmare. 

Coolest Thing I'm Putting In My House

by Bryan Bomba

As a self-proclaimed house geek, it's important for me to be aware of the newest and best in housing trends. Also, it gives me the opportunity to make tax-deductible purchases to satisfy my inner gadget fetish. Yes, I already have the Nest thermostats. I'm past that. 

The coolest new thing I'm putting in my house is the Ring "doorbell" system. Formally known as Doorbot, this system replaces your old fashioned door bell. When someone rings your doorbell, it takes a photo and sends it to your smartphone. Not only do you see who's there, but you can talk to that person-or not. For example, if a delivery guy shows up and wants to personally deliver something to you, you can tell him to just leave it or the porch. In a better example, when an annoying salesperson wants to sell you a magazine subscription, don't answer. 

I've not actually installed my Ring system yet as they're on back order. Stay tuned. 

Residential Real Estate Market Peaked In September

by Bryan Bomba

While it's no surprise to anyone that residential real estate performance in 2013 was better than 2014, this year had the highest level of performance in September. Read the USA Today article.

Buy A 75' Wide Lot For The Price Of a 50' Lot In Hinsdale IL 60521

by Bryan Bomba

 

Buy a 75 x 125 lot in town Hinsdale IL 60521 for $499,900! With new construction as hot as it is in Hinsdale these days, the skinny 50 x 123 lots are selling at or about $425,000. And there is a monumental difference in what you can build on a 75' versus that of a 50' lot. In fact, mot buyers of homes on 50' lots in Hinsdale are those upgrading form 50 footers. 

This property is located in the Monroe elementary school district across the street from Stough Park. That's right, a park is directly across the street. Better yet, the walk to the west Hinsdale train station is measured in seconds, not blocks or minutes. Be the envy of everyone at the office as you brag about your fall-out-of-bed-and-I'm-at-the-train commute.

If you have interest, contact me at Bryan@Bryan Bomba.com  Even if you've never built before, I am happy to educate you on the process. I know all the architects, builders and every other player in new construction in this area. So, let's get going. Contact me for your private showing. 

 

The Best Home Automation System

by Bryan Bomba

Right now, my favorite home automation system is Control4. In my opinion, it offers the best combination of cutting edge technology with reasonableness in pricing. It's a stable system with functionality ranging from controlling your thermostats from an airplane to supporting over 40 audio streaming services. Check out the link to their website, above.

If you get serious about automating your home, contact Tim O of ABT Custom Audio. 

 

 

Displaying blog entries 1-10 of 820

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