EXIT Prime Realty & EXIT Realty Mitchell 
Locally Owned, Nationally Recognized

Smart Homeowner Tips - 10/15/2025

1. Take Advantage of Homeowner Tax Benefits

  • Mortgage Interest Deduction: Deduct interest on up to $750,000 of acquisition debt (for loans after 2017).
  • Property Tax Deduction: Deduct up to $40,000 in combined state and local taxes (SALT).
  • Capital Gains Exclusion: Exclude up to $250,000 ($500,000 for married couples) in profit when selling a primary residence, if ownership and use tests are met.
  • Energy-Efficient Home Credits: Federal tax credits available for solar, heat pumps, insulation, windows, and more.

2. Lower Your Monthly Housing Costs

  • Refinance When Rates Drop: Consider refinancing your mortgage to reduce your interest rate and monthly payment.
  • Appeal Property Tax Assessments: If your home's assessed value is too high, appeal to potentially lower your annual property taxes.
  • Bundle Insurance Policies: Save by combining home and auto insurance with the same provider.
  • Shop for Home Insurance Annually: Rates and coverage vary—review and compare policies regularly.

3. Reduce Utility Bills

  • Conduct a Home Energy Audit: Identify leaks, insulation gaps, and inefficient systems to cut energy waste.
  • Upgrade to Smart Thermostats: Save on heating and cooling with programmable or learning thermostats.
  • Switch to LED Lighting: Longer life, lower power consumption.
  • Seal Windows and Doors: Prevent drafts and reduce heating/cooling loss.

4. Maintain and Protect Your Investment

  • Regular Maintenance: Prevent costly repairs with scheduled inspections (HVAC, roof, plumbing, etc.).
  • Document Home Improvements: Keep receipts to add to your cost basis for tax purposes when selling.
  • Check for Hidden Water Leaks: Early detection prevents mold and expensive damage.

5. Use Your Home for Additional Income

  • Rent Out a Room or ADU (Accessory Dwelling Unit): Generate passive income.
  • Host Short-Term Rentals (where legal): Use platforms like Airbnb to offset mortgage costs.
  • Deduct Home Office Expenses: If you qualify, write off a portion of your home-related costs for business use.

6. Plan for Aging in Place

  • Invest in Accessibility Features: Lever-style handles, wider doorways, or a main-floor bedroom can improve safety and long-term livability.
  • Consider Reverse Mortgages: For older homeowners with substantial equity, this can provide supplemental income.

7. Improve Enjoyment and Resale Value

  • Enhance Outdoor Living Spaces: Patios, landscaping, and lighting can boost both daily enjoyment and curb appeal.
  • Renovate Smartly: Kitchen and bath updates often offer strong returns.
  • Paint and Refresh: A fresh coat of paint is one of the most cost-effective upgrades.
EXIT Prime Realty & EXIT Realty Mitchell ABR, SRS, C2ex, CREN, CREM, CLE EXIT Prime Realty & EXIT Realty Mitchell Mitchell, SD (605) 999-0276 15848 Our mission is to inspire a positive, enduring impact and to establish leadership within the Mitchell Real Estate Industry, while enhancing our reputation throughout South Dakota. Since our establishment in 2005, we have provided our clients with extensive knowledge and expertise in the real estate sector. As a locally owned company recognized on a national level, we offer our clients extensive reach within the real estate market. At EXIT PRIME REALTY and EXIT REALTY MITCHELL, we are guided by the following values: COMMITMENT. We are devoted to delivering the highest standard of service by being solution-oriented and consistently striving to meet our clients' needs. OWNERSHIP. We hold ourselves accountable to the highest standards, continuously raising the benchmark to foster improvement in our operations. DRIVE. We are determined to excel in all aspects of our work, collaborating as a cohesive team to support and encourage one another, while refusing to accept anything less than extraordinary outcomes. HUMILITY. We recognize that our success is built upon the diligent efforts of each team member, as well as the support of our families and clients. INTEGRITY. We are committed to honesty and consistently doing what is right for our team, our business, and our clients, which ultimately leads to mutual success and respect. PROACTIVENESS. We prioritize innovation and are continually seeking ways to enhance our collaboration with our team, our business, and our clients. EXCELLENCE. We deliver unparalleled professionalism and exceptional service, maintaining our position as leaders in innovation through education and technology. CHARITY. We are passionate about contributing to our community and making a positive difference by assisting those in need. Contact Me Visit my Website Send a Referral Subscribe to Newsletter