Stying at mumbai in a rented place, can i buy a home (loan) at my native place and claim tax savings on both?
349198
Under the I T Act, yes you can claim benefit given to an individual if for reason of occupation he can not reside in the home he purchase. You can definitely allowed to have Interest deduction on loan borrowed.
1135029
Basically, if the lender believes the new home will be your primary residence, then you can get a primary home loan.  Once you obtain a multitude of properties, you will find it extremely difficult to convince the lender this is the case.  \n\nDid you know that you need to tell the lender of your current mortgage that you're renting out the property?  I assume you obtained renter's liability insurance while rentin it out, rather than ordinary homeowner's insurance?
851696
I know I am not answering your question, but I do not know a place to send you for the information you are looking for.  I am a Landlord of 23 properties in Florida and I can answer specific questions you may have, to a limit.  Insurance you need to have homeowners Insurance and tell your agent that the house will be a rental, that way you are not paying for all items in the house, unless of course you are renting a furnished unit.  I have no special account, all the monies go into my personal account and all repairs come out of my personal account.  You will pay tax on the profit you make, I am not an accountant so I don't know what your tax implications would be, an accountant can answer that for you.  If you have any other questions please feel free to add details post another question or you can email me through Yahoo Answers.  Good Luck KG
416059
Unfortunately not. But you can claim all sorts of things, including expenses relating to maintaining and upkeep of the home based on the same portion or percentage of your home that you use for business (office, and a washroom, living room for presentations, etc.) Here in Canada we can base that on how many rooms in the home we use for business or the actual floor space. It might be 4 rooms out of 8, which would be 1/2 and allow us to claim 1/4 of the homes heat, maintenance and mortgage or rent. \n\nThere's some good relevant Tax Reduction information out there - folks who keep up with the current laws that can help you out a lot just by researching their stuff.
1009485
In order to qualify for the 500k exemption, yiou must have lived in the home for 2 of LAST 5 years.  Since you rented it for last 12, you would be taxed on gain.  HOWEVER, if yoiu bought another property and rented it out,  (using a Sec 1031 like kind exchange), you could then stop renting it and move in, making it your primary residence.  No tax!!!
500140
I have no idea.  You'll likely call different corporations and offer your home.  I have never heard of such a thing as this.  \n\nIs your home special? \n\nI have seen ads in newspapers for renting out houses during huge events like when the Olympics come to town.
312550
depends if the place where u will buy the flat has increasing rate of appreciation and also if u can fulfill your loan and can accomodate the monthly EMI in ur salary..maybe u myt be able to sell the flat later on on a good profit... i think u shud buy a flat becoz most of the places have prices appreciating now and if u decide to buy a flat then buy it now because the prices increase fast.
268081
u just pay there town for there taxes for there house. check with ur tranasstion lawyer
99433
The answer is - it depends.  You can rent a place to live, or rent the money to "buy" a place to live.  With prices and interest rates where they are it may be cheaper to rent.  If you go to www.ASKMoneyMetrics.com and fill out the Mortgage Readiness form, we can do a rent v. own comparison for you, then you will know for sure.  Yahoo calculator link also below.  It usually does not make sense to go into debt just to lower your taxes.
711699
Well, the first thing I would do is call a Chamber of Commerce in the town or area of Canada you wish to move to. They are usually very willing to help a person who wants to settle,( roots) in there town or country for that matter.\n\nAre you really sure you want to buy a house right away? What if you do not like Canada & now you have a mortgage. Why don't you rent a place first, then if you like Canada then buy a house. Especially if you become a registered alien in that country you might be able to secure a mortgage. Good Luck.
1135221
no sorry i haven't and i lived in pa my whole life. sounds rough though and another good reason not to risk your home to finance something else, sorry i hope it works out for you. hopefully your spouse will have the descency to realize loan or not the home is yours and they shouldn't mess with it.
419203
We qualify people all the time with the old home "retained as a rental."  You can use market rent for your area to offset the mortgage on the existing home to keep your ratios down.  You are running the risk that you will end up responsible for two mortgage payments if you can't sell your current home quickly enough.  In my area, that's not a problem because the market is hot (that's why no seller will accept a buyer's offer if it's contingent on selling the current residence... there are so many buyers out there that they don't have to.)
772495
call a realtor who handles rental properties in mumbai
478396
Yes you can move, absolutely.  Your lender will NEVER come and knock on your door to make sure you are still living there. You can even have your loan statements sent to an "alternate address." If you want to be completely sure and honest, ask your lender, they won't change the conditions of your loan just because you ask questions.
384572
In S.R.Nagar Area - you'll be able to get 2 Bedroom flats starting at 25 Lakhs. But it really depends on location. For example if you go 15+ Kms as you have mentioned you can probably get it for half this price.\n\nRegardng Loan - You may find it difficult to get a loan on your income alone if you have crossed retirement age. But if someone is willing to be a co-applicant then your income will be considered for giving you a loan. You can get more details from  any Bank regarding this.
218073
Without a doubt, it's best to buy if you can.  Paying rent is paying someone else's mortgage for them.  Better to pay tax deductible interest to the lender than to just give money away to a landlord.  Many mortgage companies collect property taxes as part of your mortgage payment, and you can have the payment charged directly to your bank account - don't have to remember or ever be late.  Just have to make sure there's enough money for the mortgage, figure out ahead what your bills will be, such as utilities, food, car payment, etc.  Years later you probably can sell your house or condo for more than you paid, it's like having lived there for free.
1163551
Ha!  That's funny.\n\nIf you move in mid-year, you will still pay taxes in both states.  It will be prorated, but prorated on your income for the whole year, I believe.  So that wouldn't help you.\n\nThe only real solution would be to move for a whole year, I suspect, from January 1 all the way thru Dec. 31 of the same year, at least. Keeping your house and renting it out shouldn't be a problem, but if California catches wind that the move isn't 'real' (and who knows how they'd interpret that), they may come after you for tax fraud.  On the other hand, if you did move for real, then California wouldn't have any claim on your taxes any longer.  Since taxes on capital gains are not realized until the stock is sold, you should come out ok.\n\nIt wouldn't hurt to check that with a tax accountant in your proposed new state just to be sure, but I'm reasonably certain of it.