You can read my full affiliate disclosure in my phrases and situations. A cash-out refinance could be a good approach to fund home renovations or home repairs. When making upgrades, most householders ask, “Are home enhancements tax deductible? For example, if you buy a rental property for $100,000 with a useful life of 27.5 years, you can deduct $3,636 annually for 27.5 years. That deduction will help to offset the prices of owning and sustaining the property.
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