{"id":8008,"date":"2023-04-12T10:30:00","date_gmt":"2023-04-12T10:30:00","guid":{"rendered":"https:\/\/thezakariagroup.com\/your-tax-refund-can-help-you-achieve-your-homebuying-goals\/"},"modified":"2023-04-12T10:30:00","modified_gmt":"2023-04-12T10:30:00","slug":"your-tax-refund-can-help-you-achieve-your-homebuying-goals","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/your-tax-refund-can-help-you-achieve-your-homebuying-goals\/","title":{"rendered":"Your Tax Refund Can Help You Achieve Your Homebuying Goals"},"content":{"rendered":"<div><img decoding=\"async\" width=\"358\" src=\"https:\/\/files.keepingcurrentmatters.com\/content\/images\/20230411\/20230411-your-tax-refund-can-help-you-reach-your-homebuying-goals-KCM.jpg\" alt=\"Your Tax Refund Can Help You Achieve Your Homebuying Goals Simplifying The Market\" loading=\"lazy\" style=\"display: block; margin-bottom: 5px; clear: both; max-width: 100%;\"><\/p>\n<p>Have you been saving up to <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/04\/07\/the-key-advantage-of-investing-in-a-home-infographic\/\" rel=\"noopener noreferrer\" target=\"_blank\">buy<\/a> a home this year? If so, you know there are a variety of expenses involved \u2013 from your down payment to closing costs. But there\u2019s good news \u2013 your tax refund can help you <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/03\/23\/why-buying-a-home-is-a-sound-decision\/\" rel=\"noopener noreferrer\" target=\"_blank\">achieve<\/a> your goals by paying for some of these expenses.<\/p>\n<p><em>SmartAsset<\/em> <a href=\"https:\/\/smartasset.com\/data-studies\/states-with-the-largest-tax-refunds-2023\" rel=\"noopener noreferrer\" target=\"_blank\">estimates<\/a> the average American will receive a $1,798 tax refund this year. The map below provides a more detailed estimate by state:<\/p>\n<p><a href=\"https:\/\/files.keepingcurrentmatters.com\/content\/images\/20230411\/20230412-average-tax-refund-in-2023-MEM.png\" rel=\"noopener noreferrer\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/files.keepingcurrentmatters.com\/content\/images\/20230411\/20230412-average-tax-refund-in-2023-MEM.png\"><\/a><\/p>\n<p>According to <a href=\"https:\/\/myhome.freddiemac.com\/blog\/homeownership\/how-use-your-tax-refund-buy-home?\" rel=\"noopener noreferrer\" target=\"_blank\"><em>Freddie Mac<\/em><\/a>, there are multiple ways your refund check can help you as a homebuyer. If you\u2019re getting a refund this year and thinking about buying a home, here are a few tips to keep:<\/p>\n<ul>\n<li><strong>Saving for a down payment<\/strong> \u2013 One of the largest barriers to homeownership is saving for a <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/02\/03\/you-may-not-need-as-much-as-you-think-for-your-down-payment-infographic\/\" rel=\"noopener noreferrer\" target=\"_blank\">down payment<\/a>. You could reach your savings goal more quickly than expected by using your tax refund to help with your down payment.<\/li>\n<li><strong>Paying for closing costs<\/strong> \u2013 You have to pay fees to your lender, real estate agent, and other parties involved in the homebuying transaction before you can officially take ownership of your home. You could direct your tax refund toward these <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/03\/31\/facts-about-closing-costs-infographic\/\" rel=\"noopener noreferrer\" target=\"_blank\">closing costs<\/a>.<\/li>\n<li><strong>Lowering your interest rate<\/strong> \u2013 Your lender might give you the option to <a href=\"https:\/\/myhome.freddiemac.com\/buying\/mortgage-rates\" rel=\"noopener noreferrer\" target=\"_blank\">buy down<\/a> your mortgage interest rate during the homebuying process. That means, you could pay upfront to have a lower interest rate on your fixed-rate mortgage.<\/li>\n<\/ul>\n<p>The best way to <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/03\/15\/balancing-your-wants-and-needs-as-a-homebuyer-this-spring\/\" rel=\"noopener noreferrer\" target=\"_blank\">prepare<\/a> to buy a home is to work with a trusted real estate professional who understands the process. They\u2019ll help you navigate the costs you may encounter as you <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/03\/22\/reasons-to-consider-condos-in-your-home-search\/\" rel=\"noopener noreferrer\" target=\"_blank\">begin<\/a> your homebuying journey.<\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\" rel=\"noopener\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have you been saving up to buy a home this year? If so, you know there are a variety of expenses involved \u2013 from your down payment to closing costs. But there\u2019s good news \u2013 your tax refund can help you achieve your goals by paying for some of these expenses. SmartAsset estimates the average [&hellip;]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[110,107,98,99,102,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Your Tax Refund Can Help You Achieve Your Homebuying Goals - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/your-tax-refund-can-help-you-achieve-your-homebuying-goals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Your Tax Refund Can Help You Achieve Your Homebuying Goals - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"Have you been saving up to buy a home this year? 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