We realize that April 15th has passed and for most of us, our taxes have been filed, but in case you missed it this year, here are a few tax breaks you should be preparing for now.

1. Set up your home office

If your workstation has been on your bed or the lazy boy chair in the den, it’s time you cleared out the guest room and set up an office. This way you can take care of the home office tax deduction in which the IRS will deduct $5 for every square space up to $1500. Remember, you must use this room regularly and exclusively for work.

2. Install solar panels

One of the remaining energy-efficient tax credits still available for homeowners is solar energy.

“You can take a credit of up to 30%, with no cap, on the equipment and installation costs of solar energy panels and solar water heaters you purchase in 2017,” says Jacob Dayan, partner and co-founder of CommunityTax.com.

Just to qualify, solar panels must be used to generate energy or heat for you home or secondary home, not to heat pools and spas.

3. Pay property taxes early

If you have a big tax bill coming this year, one way to offset the cost is to prepay your property taxes. For example, if you receive a tax notice in December 2017 with a due date of Jan. 31, 2018. You should go ahead and pay it in December if you want to deduct the amount from your current year’s income instead.

4. Keep home improvement records

It’s important for all homeowners to keep detailed records of home improvements such as a new roof, new furnace, bathroom additions, or anything that will increase your home’s value. When the time comes to sell, the amount you spent on the home can save you greatly on capital gains taxes.

5. Pay Points

If you plan to buy a home in 2017 or refinance there is an opportunity to save on taxes in terms of points. Also known as a loan origination fee, loan discount, or discount point, it is basically prepaid interest that persuades lenders to give you a lower interest rate on the loan. You can deduct those points for the same year you buy a home. If you refinance, you can deduct them over the life of your new loan, both are good when it comes to tax benefits.

Do you ever feel like the rich just keep getting richer? Well, allow us to let you in on a little secret: Part of the reason they keep on raking in dough is that they take advantage of real estate tax strategies that many ordinary homeowners have no clue even exist. So what are they, exactly—and can we ordinary mortals take advantage of them, too?

For starters, most of these strategies involve investment properties—in other words, not your primary residence. So if you have a cabin in the woods or a beach house that sits empty most of the year, you might be in luck. Read on to follow in the well-heeled footsteps of the wealthy and maximize your tax savings this year.

Strategy No. 1: Take advantage of ‘safe harbors’

Smart investors don’t let second homes lie vacant, but rent them out, says Crystal Stranger, president of 1st Tax and author of “The Small Business Tax Guide.”

Not only will you make extra cash, you can deduct expenses such as repairs, insurance, real estate taxes and mortgage interest, says broker and attorney Bruce Ailion of RE/MAX Town and Country Commercial in Atlanta, GA.

Even better, the IRS has what’s known as a “safe harbor” rule for rental property expenses that, after Jan. 1, 2016, was expanded from $500 to $2,500. Here’s what that means for you: Let’s say the cost to replace the roof on a rental property is $4,500. Ordinarily, this would be a capital expense you’d have to deduct over the life of the roof (so, $180 per year for 25 years). But if you break the cost of the roof into two smaller bills (let’s just say $2,400 for materials and $2,100 in labor), since they’re both under $2,500, the IRS allows you to deduct these expenses all in their first year, in their entirety—and added together! So that ends up being a massive first-year deduction of $4,500.

One red flag: If you personally use the property for more than 14 days during the year, your tax implications can change, so check with your accountant to make sure you’re in the clear.

Strategy No. 2: Depreciate your rental property

The IRS views a rental property as a business expense and expects it to depreciate over time. Ka-ching! You can deduct a portion of the cost of the home—what are called deprecation losses—for upward of 27.5 years (the amount of time the IRS thinks is the deductible life of a single-family home).

Tom Wheelwright, CPA and author of “Tax-Free Wealth,” gives this example of how depreciation works: Suppose you buy a duplex for $400,000 this year with 20% down ($80,000) and a $320,000 bank loan. Let’s say the duplex produces an annual cash flow—after expenses and mortgage payment—of $24,000. According to the IRS, the depreciation deduction for this property should be about $32,000 for the first five or six years. Since that depreciation ($32,000) amounts to more than your cash flow ($24,000), this actually produces a tax loss of $8,000 a year ($32,000 to $24,000). With proper planning, that tax loss can offset your other income, saving you a bundle.

Strategy No. 3: Depreciation is actually a ‘phantom deduction’

The rich know that these depreciation losses for rental properties—defined by the IRS as an allowance given to property owners for the “exhaustion, wear and tear (including obsolescence) of property”—is, in fact, a “phantom deduction.” Phantom because, as Than Merrill, CEO and founder of FortuneBuilders.com, points out, while the IRS compensates landlords for the depreciation of their assets, homes tend to do the opposite and appreciate in value. And therein lies the true value of depreciation losses: If the value of your property rises, the loss the IRS allows never actually takes place. So you save money on taxes and make a profit at the same time.

Strategy No. 4: The 1031 exchange

When it comes time to sell an investment property, wealthy folks never worry about paying taxes on their profits. Why? Because they take advantage of what’s known as the 1031 exchange. This tax rule allows people to sell an investment property for a profit and move the proceeds directly into another investment property while deferring the tax liability. If done right, you can ratchet up the value of your holdings in real estate without eroding your capital by paying capital gains tax, says Ailion.

Let’s break down how it works: If you sell a property for $500,000, you then have 90 days to find a replacement property of equal or greater value (while a qualified intermediary holds the proceeds) and then 180 days to close on that property. As long as you don’t touch the money in holding before closing, no tax will be due on the original sale.

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Now that is spring is less than a month away, it is time to start on that spring cleaning you’ve been putting off. For most, spring cleaning is centered around getting the interior of your home in order, but what about your outdoor space? Many people wait until summer to begin making their outdoor place presentable. We’re lucky, with a great climate like ours, we can begin our summer season a bit earlier than the rest of the country. Here are some spring cleaning tips for your outdoor space.

Clean the garage door

Most people never even touch their garage door with soap and water, but why not? We guarantee that it is dirty. Start by filling a bucket with soap and adding water from the hose, like you would do if you were going to wash your car. Get a rag, soak it, and begin wiping the door. Once you’ve covered the entire door with soapy water, rinse it with a high pressured nozzle on your hose. Wait until you see the difference it makes.

Clear out the cobwebs

During the winter, you probably didn’t spend much time outside looking under the eaves at what the spiders left for you, but there are most likely cobwebs. Cobwebs are very unattractive, so it’s time to get those before you have guests over. Start by getting a cobweb duster and walking around the outside of your house and capture any cobwebs you may find. To clean the cobweb duster, simply roll it around on the grass and see how easily it comes off.

Wash out your garbage cans

Have you ever been assaulted by the smell of someone’s trash cans? Obviously, the trash is going to smell, but you can stop the smell from becoming overpowering. Start out my clearing any trash that may be in your cans. Pour a little dish soap in each can and lay them on their side. Either use a power washer or a high-pressure nozzle for your hose and begin spraying them out. After they have been cleaned, add some odor eliminating trash bags to help fight the lingering smells.

Fix up the front porch

This is probably one of the more important steps as this is usually the first place in which your guests will see when they visit your home. There are many components that make up your front porch that will need attention. You can start out by removing your porch light and getting rid of any dead bugs that may be inside. Once you have done this you can do a quick wash with soap and water. Sweep the entire porch before you move on to anything else because if you wait til the end to sweep you’ll get everything you just cleaned dirty again. Next, clean your front door with a wet rag and don’t forget the threshold, as this is where much of the dirt can be tracked into your home. If you have any other outdoor decorations, wipe them down as well. Tidy up and add fresh flowers to create a more inviting and welcoming vibe.

Homes aren’t impulse purchases. It takes time to sift through listings and make your way from one home showing to the next; then, of course, there are those agonizing hours you wait to find out if your offer on a house was accepted, whether you can secure financing, and any number of other holdups.

Just so you’re prepared to play the waiting game, here are the steps to buy a house and how long they typically take, so you aren’t sitting there holding your breath and wondering if something’s up.

How long does it take to find a real estate agent?

Answer: A couple of days to a few weeks

home-buying process. Don’t skimp on the search—even if you’re in a rush.

“The home-buying process is a complicated one, and the chosen agent must be the person who can best relay each step of the process in a way that will be understandable and reassuring to the homeowner,” says Diane Henderson, a Realtor® with McEnearney Associates in Alexandria, VA.

“Find the Realtor that ‘fits’ you,” she adds. “The whole process will go a lot more smoothly.”

Not sure where to find this special person? Head to realtor.com®‘s Find a REALTOR online tool to locate Realtors in your area.

How long does it take to get approved for a mortgage?

Answer: At least two weeks

Getting approved (or pre-approved) for a mortgage is no simple process. Lenders need to examine your documentation, review your financial information, and reconcile any problems. So even if all your documents are in order and you’re a stellar candidate, expect to wait two weeks or more to find out if you got the green light.

How long does a showing take?

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As the new year begins, we make resolutions we hope to fulfill by the year’s end. Often, they are centered around eating better, exercising more, and all around healthier living, but we tend to neglect other goals we may have in mind. Owning a home is a major goal on most people’s list. So why can’t 2017 be the year you buy a house? With the proper steps, owning a home is possible. Here are a few new year’s resolutions you should be making to get you in a new home this coming year.

Decide what you want

Knowing what you want before you start looking is important. First, you need to decide where you would like to live. Next, decide what kind of house you’d like. If you find it necessary, make a list of must haves vs. deal breakers. If you begin looking without knowing exactly what you want, it’ll take you twice as long. Take some time to figure out what is best for you since buying a home is a long and serious commitment.

Get your financials in order

Now that you have decided on an ideal home, it’s time to get serious. It’s time to look at what you can actually afford and continue with the first step. Map out how much you’ll put down for a down payment. Budget for monthly mortgage costs and don’t forget closing costs. Nine out of ten people finance the purchase of their home. This means a loan is required and you should start that process before bidding.

Get pre-approved before you begin house-hunting

Getting pre-approved gets you that much closer to owning a home. Pre-approved means you have met with a loan officer, they have reviewed your financials and deemed you credible for a loan. If approved, you will receive a pre-approval letter, which will show your borrowing power. This letter shows the listing brokers your seriousness and your ability to go through with a purchase. You can obtain as many pre-approval letters as you like, but remember each letter requires a credit check, which will show up on your credit report.

Protect yourself with insurance

You need to protect your biggest purchase with insurance. Purchasing title insurance is done as a one-time fee and helps safeguard the owner in case the property is found to be invalid. Homeowner’s insurance should also be purchased. It protects against fire, theft, and liability coverage. Other insurances, like earthquake and flood, are left up to the buyer’s decision.

If you begin focusing on your real goals now, they’ll become realities by the end of the year. These are just a few of the resolutions you should think about if you’re serious about buying a home. Since the housing recovery in 2012, 2016 has been the hottest year so far. Forecasters have been predicting 2017 to be even better.

Ask yourself, when is the best time of the year to sell my home? Many people answer with Spring or Summer, but little do they know, they are actually wrong. Spring or Summer may be the most convenient time, but that does not necessarily mean it is the best time. In almost every city, listing your home in the winter will yield a higher amount of money on the sale of your home.

In a study done by Redfin, homes listed between December 21 and March 21 had a nine percent higher chance of selling faster than homes that were listed between March 22 and June 21 and a ten percent higher chance than those listed between June 22 and September 21.

How so?

Homes prices actually peak in late Winter and early Spring when there are fewer homes on the market and people already begin searching. Also, buyers are serious this time of year. The spring is filled with window shopping buyers who are unsure about what they really want. If you’re serious about selling your home now, don’t let the holidays deter you from your plans.

Are you ready to sell your home, if so, is your home ready to sell? Seller’s can’t simply list their home and expect it to be bought at its maximum price without some preparation made in advance. Take a second and go through your home from buyer’s perspective. Take notes on what you notice as a buyer. Some changes you should make right away are hiding clutter, putting family photos away, cleaning out closets, and getting rid of unnecessary furniture. Amongst these apparent changes, there are a few other things sellers should do in preparation of listing their home if they want to maximize their offer and decrease the time spent on the market.

1. Repaint the walls in neutral colors

You may love your colorful accent walls and feel that it’s what makes your home, home, but not everyone is going to feel the same. Repainting your walls to neutral colors like white, tan, or beige can help open up the pool of buyers. It allows them to focus more on the home and less on the work they’ll need to do if they decide to buy.

2. Organize your closets

It happens to all of us, our closets can get out of hand. It’s such a daunting task to reorganize, but to buyers, storage is a key factor when finding a home. Organized and clean closets give the illusion of more space, therefore, more storage. You can start by going through and cleaning out any unneeded items that may have accumulated. You’ll be moving soon anyway, so why not get a jump start on the process now.

3. Do faux renovations

You’ll be surprised what a few fixes here and there will do for your home. Is your kitchen a little out-dated? Try replacing the cabinets’ hardware, the light fixtures, or the faucets. You can do the same for bathrooms and laundry rooms.

4. Highlight focal points

If there is something unique about your home, you should highlight it so potential buyers will see it. You can do this by adding pops of color or plants. Do you have have a window seat,? Throw a red pillow on it with a book to show this could be a great reading nook. Add a fern to your mantle to highlight your beautiful fire place.

5. Boost curb appeal.

This probably one of the more important factors to preparing your home before listing because this is the first thing buyers are going to see. You want to make a great first impression and buyers don’t like what they see on the outside, they may not even give your home a chance. You don’t have to go all out and repave your driveway, unless it really needs it, but make sure to trim the hedges, plant some fresh flowers, mow the lawn, and fix any peeling paint. Basically, tackle your to-do list you’ve been meaning to do for months.

Many of the myths that plague the home buying process have come from old standards of the industry. Real estate is much different from what it was 15 years ago. Requirements such as having stellar credit or putting down 20 percent are a thing of the past. Find out which real estate myths you still believe.

The seller pays the closing costs. This is a common myth that many people believe all the way up until the closing occurs. This can be true in some circumstances, but it’s not common or realistic for the seller to agree to pay all the closing costs. It’s best to understand all the additional costs that will incur such as credit reports, survey fees, titles services, an attorney fee, and property insurance. Experts say to expect closing costs to be anywhere from two to five percent of the entire price of the home.

The seller will make repairs based on the inspection report. Your agent will assist you in negotiating any repairs that need to be made upon inspection, but that does not guarantee they will pay for all of it. If they won’t hire someone themselves to do the repairs before you close, and then won’t offer you cash-back credits for you to hire your own professional to come in, you’re probably on your own. This “take it or leave it” approach means that the seller is in no hurry to move or may have more offers coming in.

The asking price is the selling price. Many sellers price their home over the value of their home so there will be room for negotiations. There are many different factors that go into what you offer and what you walk away with. If a home has been sitting on the market for some time, it may be because it was priced too high. In this case, many sellers are willing to reduce the asking price.

The down payment is the only upfront cost. Like stated above, the seller does not always pay the closing costs. After closing and moving into your new place you may find you need extra repairs or improvements. You’ll probably need to furnish the place, also, don’t forget to keep an emergency fund in case of raining days.

It’s cheaper to rent than buy. Today, in almost every city, rent prices are increasing faster than home prices. When it comes to paying for your living, isn’t it better to be paying your mortgage toward are home you own vs paying your landlord? Renting is more ideal for people who know want to be more flexible, but buying is ideal for people who want to invest.

Minimalist homes, with their soothing swathes of empty floor space and serene bare walls, are filling up our Pinterest boards and Instagram feeds these days. Saying goodbye to all of that clutter and investing in just a few beautifully made pieces is enticing, to say the least. But simplifying too much can leave a space feeling cold and inhospitable. Courtney Trump, the principal designer of Lüft Design based in San Francisco, describes her design philosophy as “warm minimalism,” so who better to offer advice on getting it right? Here, she tells us four secrets to designing a clean-lined space that’s still infused with meaning and character.

Photo:Bloglovin’                                                                            

Less really is more

“Keep the foundation of your rooms simple and pure, curating every piece in your space with intent. Look for warmth, texture, and muted or dramatic rich tones. Let form and texture lead,” says Trump. “Subtlety is timeless.”

Photo: Brit Morin                                                                            

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Photo: sfgirlbybay / victoria smith                                                                            

Get personal

“Our homes and offices are not static environments. They should be unique and fluid, suiting our most basic and demanding physical and emotional needs,” says Trump. “Take time to observe your daily rituals, taking note of how you interact with your space, the objects you use most and those you could potentially eliminate.” For this kitchen, Trump was tasked with crafting a space that was functional but had a sense of calm. She achieved that effect with airy white upper cabinets, minimal hardware, and a custom white-oak dining table where the clients could enjoy a leisurely cup of coffee together.

Photo: Stylecaster                                                                            

Storage should be secret

Photo: wailmervalderrama.tumblr.com                                                                            

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