It’s Still a Great Time to Buy in Minneapolis

Inflation is high and interest rates are up—is this really the time to buy a house? Experts say, yes. Here are three reasons why buying a house right makes good sense.

Homeownership is a great hedge against inflation
It seems like prices are going up just about everywhere, but if you’re locked into a stable rate for the duration of your loan, your house payment will always stay the same. Unlike renting which typically renews (and often rises) annually, owning a home allows you to stabilize what is most likely your largest monthly payment.

There is less competition for houses
Unlike the craziness of the pandemic days when hot markets saw dozens of bidders frantically hoping to beat the competition,…

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Public Service Announcement: Bonus Depreciation is Going Away!

Did you know that one of the most incredible tax benefits of owning real estate is going away at the end of this year? That’s right, at the end of 2022 you can say goodbye to 100% bonus depreciation. Well, it’s not completely going away, but it will be phasing out over the coming years. Here’s how that looks:

2023 = 80%
2024 = 60%
2025 = 40%
2026 = 20%
2027 = 0%

So, for those who aren’t complete tax nerds, what exactly is Bonus Depreciation? Bonus Depreciation only came into existence in 2017 with the Tax Cuts and Jobs Act’s (TCJA), and truthfully, it’s been pretty awesome for the past 5 years.

Depreciation is just the IRS’s way of recognizing that things wear out over time and thus…

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