In a transaction that underscores the allure of Malibu’s most iconic residences, supermodel Karlie Kloss and her husband, venture capitalist Joshua Kushner, have acquired the famed Wave House, a property once owned by music legend Rod Stewart. This stunning midcentury-modern estate was purchased for $29.5 million, as reported by the Wall Street Journal. Originally listed for $49.5 million last June, the sale represents a significant moment in the luxury real estate market.
The Wave House, an architectural marvel designed in the 1950s by the visionary Harry Gesner, is renowned for its distinctive wave-like design. Gesner, an architect celebrated for his innovative and daring creations, famously conceived this home while floating on the ocean in front of the site, sketching its plans from his surfboard. The property’s unique design is said to have been a source of inspiration for the Sydney Opera House, adding to its historical significance.
Spanning 6,200 square feet, this estate is not only an architectural masterpiece but also a luxurious retreat. The property boasts six bedrooms, eight bathrooms, and a series of features that make it one of California’s most recognizable homes. Among its many amenities are a beach-facing primary suite complete with a sauna, three vaulted “public rooms,” a cozy conversation pit, a hot tub, and a central fireplace that serves as a focal point of warmth and gathering.
In addition to the main residence, the property includes a separate structure currently serving as a garage and guest house, offering versatility and additional space for visitors or personal use. The hand-cut copper shingle-topped facade enhances the property’s unique charm, making it a true work of art in the realm of residential design.
The Wave House has had a distinguished line of previous owners, including the legendary Rod Stewart and, more recently, Mo Ostin, a revered figure in the music industry known for his leadership at Warner Bros. Records, where he signed iconic artists like the Kinks and Jimi Hendrix. Ostin’s passing in 2022 at the age of 95 led to the sale of this extraordinary property by his estate.
Representing this prestigious listing were Dena Luciano of Douglas Elliman, along with Chris Cortazzo and Zen Gesner—son of the architect Harry Gesner—of Compass, and Drew Fenton of Carolwood Estates. Luciano aptly described the property as “awe-inspiring,” noting its capacity to evoke a deep sense of relaxation while standing as a testament to Gesner’s artistic vision and enduring appeal in the world of luxury real estate.
For those who appreciate the intersection of architectural brilliance and serene coastal living, The Wave House remains a beacon of Malibu’s unparalleled beauty and history.
This past week, I had the pleasure of making a Creamy Bacon & Chive Potato Salad that quickly became one of the best potato salads I’ve ever tasted. Growing up, my mother’s mustard-based potato salad was the gold standard in our household; its tangy flavor was unmatched, and it was a staple at every family gathering. Then there was my grandma’s German potato salad, a warm, vinegary delight that had a legendary status. However, this creamy creation might just be the one that tops them all.
A New Take on Tradition
Potato salad is a dish steeped in tradition, with each family having their own unique spin on it. It’s the kind of easy dish that’s perfect for any occasion whether it’s a summer barbecue, a potluck, or just a simple family dinner.
What makes this potato salad special is the balance of flavors and textures. The creamy dressing clings to tender potato slices, while crispy bacon adds a satisfying crunch. The chives bring a fresh, slightly oniony bite that cuts through the richness, making each forkful a delightful experience.
The Process: Worth Every Step
Making this potato salad does involve several steps, and while it takes some time, the result is well worth the effort. The key is to allow the potato slices to cool to room temperature before mixing them with the dressing. I like to speed up this process by placing the potatoes in the fridge after cooking them. This not only saves time but also ensures that the potatoes are firm enough to hold up in the salad without becoming mushy.
The Recipe: Creamy Bacon & Chive Potato Salad
Ingredients:
2 pounds of small red or Yukon Gold potatoes
4 or 5 hard boiled eggs
1/2 pound of bacon, cooked until crispy and crumbled
1/2 red onion, finely chopped
1 cup mayonnaise
3/4 cup sour cream
1 heaping tablespoon Dijon mustard
1 tablespoons apple cider vinegar
1/4 cup fresh chives, finely chopped (maybe a little more)
1/4 cup fresh parsley, finely chopped
Salt and pepper to taste
Instructions:
Hard boil, peal and chop 3 eggs, cook the bacon, and set both aside.
1. Cook the Potatoes: Cut the potatoes in half, then in quarter inch slices. Place them in a large pot of boiling water and cook them for about 7 to 10 minutes, you want them tender but still firm. You should be able to pierce them with a fork easily, but they shouldn’t fall apart.
2. Cool the Potatoes: Once the potatoes are cooked, drain them (but don’t rinse) and allow them to cool to room temperature. To speed up the cooling process, you can place the potatoes in the refrigerator for about 30 minutes.
3. Prepare the Dressing: While the potatoes are cooling, make the dressing. In a large bowl, combine the mayonnaise, sour cream, Dijon mustard, apple cider vinegar, parsley and chives. Reserve a small amount of chives for topping (bacon too). Whisk until smooth and well combined. Season with salt and pepper to taste.
4. Assemble the Salad: Once the potatoes are cool, add the bacon, egg, red onion and give it a toss, then add the dressing. Gently fold the potatoes, red onion, eggs and bacon into the dressing until they are well coated. Mix everything together gently.
5. Chill: Transfer the potato salad to a serving dish and garnish with the reserved bacon and chives. For best results, cover and refrigerate the salad for at least 1 hour before serving to allow the flavors to meld together. Actually, it’s excellent the next day, make a day ahead of time and chill overnight for maximum wow factor.
6. Enjoy: Serve and enjoy.
A Family Favorite in the Making
As someone who grew up with two exceptional potato salad recipes, it’s not easy for a new version to claim the title of “best.” However, this Creamy Bacon & Chive Potato Salad is truly something special. Whether you’re a fan of traditional mustard-based salads or prefer something with a tangy kick, this recipe is sure to become a favorite in your household.
Next time you’re looking for a side dish that will steal the show, give this recipe a try. It might just become your new go-to potato salad, and you’ll find yourself making it again and again. #kevininthekitchen
If you’re a fan of Thai cuisine and find yourself in Dallas, Si Lom Thai Asian Fusion on Oak Lawn Avenue is a must-visit. As someone who has dined there numerous times, I can confidently say that this restaurant is one of the best Thai spots in the city. Despite the challenges with parking, the quality of the food more than makes up for any inconvenience, and it’s no wonder why Si Lom is frequently praised by both locals and visitors alike.
An Authentic Thai Experience
Si Lom offers an extensive menu that caters to a variety of tastes, from traditional Thai dishes to creative Asian fusion options. Whether you’re craving a classic Pad Thai or something more adventurous like their Glass Noodle Pad Thai, every dish is prepared with the utmost care and authenticity. The flavors are bold, the ingredients fresh, and the presentation is impeccable.
I went there this past week and enjoyed my fav dishes I’d been craving and it made every food loving cell in my body happy. Here are a few quick iPhone photos I snapped.
Atmosphere and Ambiance
Located at 3300 Oak Lawn Ave #110, Si Lom occupies a cozy, subterranean space that’s easy to miss if you’re not looking for it. However, once inside, you’ll find a welcoming and comfortable atmosphere, perfect for both casual meals and special occasions. The restaurant’s decor is modern yet infused with traditional Thai elements, creating a warm and inviting environment that complements the culinary experience.
The Parking Conundrum
If there’s one downside to Si Lom, it’s the parking situation. Being in a busy area like Oak Lawn means that finding a parking spot can be a challenge. However, I believe that the food is worth the hassle. My tip: plan ahead, perhaps consider rideshare options, and focus on the amazing meal that awaits you inside.
Rave Reviews and Recognition
Si Lom has garnered a loyal following, as evidenced by its consistently high ratings on platforms like TripAdvisor and Yelp. Many reviewers echo my sentiments, praising the restaurant for its exceptional food, friendly service, and reasonable prices. The consistent quality of both the food and the dining experience has made Si Lom a standout in the Dallas dining scene.
I follow them on Instagram and the photos they tease with keep them top of mind at all times, well played Si Lom!
Contact Information
Address: 3300 Oak Lawn Ave #110, Dallas, TX 75219
Phone: +1 214-780-0983
Pricing: $$ (Moderate)
Si Lom’s menu offers a range of dishes at various price points, making it accessible for different budgets. Whether you’re in the mood for a light lunch or a full dinner feast, you’ll find options that satisfy both your palate and your wallet.
Si Lom Thai Asian Fusion is more than just a restaurant; it’s a dining experience that showcases the rich flavors and culinary traditions of Thailand. Despite the parking challenges, the outstanding food and warm atmosphere make it a top recommendation for anyone seeking authentic Thai cuisine in Dallas. If you haven’t yet had the pleasure of dining at Si Lom, I highly suggest you give it a try—just be prepared to fall in love with every bite.
Nestled in the heart of Uptown Dallas, the newly unveiled Maple Terrace Residences stand as a testament to the seamless blend of historical preservation and modern luxury. This remarkable development by Hines, in partnership with Mitsui Fudosan America and McNair Interests, has breathed new life into a Dallas landmark, offering a premier living experience that redefines urban sophistication.
The Maple Terrace building, originally constructed in the 1920s, was once the tallest residential building in Dallas and served as the home to many notable figures, including Judy Garland, Dean Martin, and Elvis Presley. Today, this iconic structure has been carefully preserved and transformed into a boutique office space, retaining its historical charm while integrating state-of-the-art facilities.
Luxury Living Redefined
The Maple Terrace Residences feature a newly constructed 22-story tower that boasts 345 luxury apartment homes. These residences range from 601 to 2,879 square feet, offering a variety of floor plans to suit diverse lifestyles. Each apartment is meticulously designed, featuring spacious, light-filled interiors with luxurious finishes. Residents can enjoy sleek European cabinetry, quartz countertops, waterfall-edge islands, and premium stainless-steel appliances in their kitchens, all of which exude a sense of modern elegance.
World-Class Amenities
Maple Terrace Residences go beyond the traditional concept of apartment living by offering an array of thoughtfully curated indoor and outdoor amenities. The expansive pool terrace, complete with skyline views and stylish in-pool loungers, provides a perfect retreat from the hustle and bustle of city life. For those focused on wellness, the state-of-the-art fitness center includes a sunset terrace, two infrared saunas, and a variety of workout spaces.
Residents also have access to a relaxation lounge, a creative studio, a golf simulator, and a clubroom with a kitchen, ideal for entertaining guests. Additional luxuries include a library, a secret garden, a dog park, private storage, and in-building café. For pet owners, the dog-washing station ensures that even four-legged friends enjoy the high-end experience.
A Vibrant Community Hub
Maple Terrace’s location on Maple Avenue offers easy access to the Katy Trail, Park Cities, Downtown Dallas, and the best shopping, dining, and entertainment that Uptown has to offer. Two new restaurants are set to open in the development, further enhancing the vibrant community atmosphere. Doce Mesas, a favorite local Mexican restaurant, will soon welcome diners, offering both classic Tex-Mex dishes and lighter coastal Mexican cuisine. In November, CATCH Dallas will make its Texas debut, bringing its modern renditions of seafood, sushi, and steak to the area.
Preserving History, Embracing the Future
Maple Terrace Residences not only preserve the historical significance of one of Dallas’s most cherished buildings but also push the boundaries of luxury living. With its perfect balance of timeless elegance and contemporary design, Maple Terrace is set to become one of the most sought-after addresses in Uptown Dallas.
For more information, visit Maple Terrace Residences and explore the photos and luxury that await you in this remarkable development.
This past week, Oak Lawn in Dallas has seen notable developments in its real estate landscape. A significant highlight is the proposal by Trademark Property Co. to build a 415-unit luxury apartment complex at 3900 Lemmon Ave. This development, which recently received strong support from the Oak Lawn Committee, is expected to bring a seven-story building between Throckmorton and Reagan streets, adding a new level of luxury to the area.
While we have been busy with life no one has noticed that lot by lot, the entire block where Taco Bueno and the now vacant building where LaMadeleine used to be is now almost cleared. The rendering is from the Trademark Property Co. website where they made this announcement recently.
My immediate thought when I hear of this is always “where are all of these people going to park?” I know the residents will have garages but this brings in 1000’s of additional cars into an already over crowded neighborhood.
Additionally, Crescent Communities is moving forward with NOVEL Turtle Creek, a 20-story high-rise located at the intersection of Irving and Oak Lawn avenues in the Design District. This project is targeting a more mature demographic, offering 206 luxury residences with premium amenities like private balconies, real wood floors, and expansive terraces in penthouse units. This project is set to break ground soon, contributing to the ongoing transformation of the Oak Lawn neighborhood.
These developments signal continued growth and investment in Oak Lawn, further cementing its status as a prime location for upscale living in Dallas.
1/2 pound shrimp, peeled and deveined 1/2 pound crab meat, preferably lump 2 tablespoons butter 1 onion, finely chopped 1 carrot, finely diced 2 stalks celery, finely diced 3 cloves garlic, minced 1/4 cup tomato paste 3 cups seafood or fish broth 1 cup heavy cream 1 teaspoon paprika 1 teaspoon dried thyme Salt and pepper to taste Fresh parsley, chopped, for garnish 2 tablespoons all-purpose flour
Directions:
Prepare the Seafood: Cook the shrimp in a pot of boiling water for 2 or 3 minutes until they are pink and opaque. Remove, cool, and chop roughly. Set aside.
Sauté Vegetables: In a large pot, melt butter over medium heat. Add onion, carrot, celery, and garlic. Cook until the vegetables are softened, about 5-7 minutes.
Add Flavor Base: Stir in tomato paste, paprika, and thyme. Cook for another 2 minutes.
Make the Bisque: Sprinkle flour over the vegetables and stir to combine. Gradually add seafood broth, stirring continuously to prevent lumps. Bring the mixture to a simmer, then reduce heat and let simmer gently for 20 minutes.
Add Seafood and Cream: Add the chopped shrimp and crab meat to the pot. Pour in the heavy cream and stir to combine. Cook for an additional 5 minutes, or until everything is heated through. Adjust seasoning with salt and pepper.
Serve: Ladle the bisque into bowls and garnish with chopped parsley, maybe some good bread and enjoy!
Listed for $989,900, it’s just money honey, you can’t take it with you.
Ready to rock your world? Let us introduce you to 6619 Apache Place, affectionately known as “The Rock House.” This isn’t your run-of-the-mill mountain retreat—it’s a home with a personality as big as the 45-foot high red rock it’s wrapped around! Yes, you read that right. Nestled around one of Colorado’s cherished ancient red rocks (we’re talking a cool 200 million years old), this home is your personal slice of geological history, complete with views that will have you pinching yourself.
A Grand Entrance That’s Anything but Ordinary
Step through the pergola-covered, double custom iron front doors, and you’ll quickly realize this place is far from average. The Rock House doesn’t just blend into nature—it’s practically a part of it. Surrounded on three sides by community open space, this home feels like a private resort, offering you the best of modern mountain living with a side of ancient rock formations.
A Home Updated with Love and a Touch of Magic
The current owners have taken what was already a remarkable home, originally crafted by the previous owner/builder, and sprinkled their own magic over it. The result? A space where comfort meets creativity, and where the great outdoors seamlessly flows into your living room.
But let’s be honest—the real star of the show here is your very own “Garden of the Gods” right in your backyard. Why fight the crowds when you can picnic in your private sanctuary, soak in the hot tub under the Milky Way, and enjoy the kind of peace and serenity that makes you forget what stress even feels like?
A Kitchen That’s Ready to Rock
Now, let’s talk about the kitchen. Whether you’re a gourmet chef or just really good at pretending to be one, this kitchen is ready to meet your culinary aspirations. High-end appliances, granite countertops, and a center island that’s just begging for a spread of charcuterie and wine—it’s all here, waiting for your next dinner party or midnight snack attack.
Bedrooms That Make You Feel Like Royalty
When it’s time to turn in, you’ll find the bedrooms are not just places to sleep—they’re retreats. The master suite? It’s basically a five-star hotel room that you don’t have to check out of. With a spa-like bathroom and views that will have you debating whether to close the blinds or not, this is where you’ll recharge in style.
The Great Outdoors, Right at Your Doorstep
Living at The Rock House means embracing the Colorado lifestyle in all its glory. The large yard is perfect for impromptu games of catch, epic barbecues, or simply lounging around doing absolutely nothing. And when you’re ready to explore, you’ve got hiking trails, parks, and golf courses just a stone’s throw away.
Located in the charming town of Larkspur, you’re far enough from the hustle and bustle but close enough to enjoy a night out in Denver or Colorado Springs whenever the mood strikes. But with surroundings like these, we won’t blame you if you’d rather just stay home.
Ready to Make The Rock House Your Own?
Homes like 6619 Apache Place don’t come around often, and when they do, they don’t stay on the market for long. So, if you’re ready to live the high life (literally, thanks to that 45-foot rock), contact us today to schedule your private tour. Trust us, this is one home you need to see to believe.
Exciting times are ahead for Oak Lawn as real estate developer UDR announces that the FAA has given the go-ahead for a stunning 25-story residential tower at 2743 Turtle Creek Blvd (next door to the Mansion). The FAA’s approval was required because the building, soaring over 200 feet, is located on the glide path to Love Field. Once the city issues the building permit, we can look forward to construction kicking off in June 2025, promising to bring some lively energy to Turtle Creek Boulevard until the end of 2026.
UDR’s investment in this prime location is no small feat—purchased for a cool $90.2 million in 2022, as reported by the Dallas Business Journal, this development is poised to be a real game-changer for the area.
But that’s not all! This project is just one of several exciting developments happening in the neighborhood. Just a block away, a sleek 21-story residential tower is already taking shape, with plans for an additional 20-story tower also on the horizon. And let’s not forget the highly anticipated Four Seasons Hotel, which will feature 233 luxurious hotel rooms and 118 upscale condominiums. Oh, and did we mention the proposed 30-story tower just around the corner at Hood and Brown streets? It’s safe to say Oak Lawn is becoming quite the hot spot!
While public transportation options in this part of Oak Lawn may be limited, who needs a bus when you’re living in the lap of luxury? The influx of new residents will surely add a vibrant pulse to the streets, and the stunning skyline will be something to behold. Sure, traffic might get a little busier, but think of it as an opportunity to enjoy the scenery and admire the architectural marvels rising around you.
If you thought Oak Lawn was lively before, just wait, the neighborhood is on the brink of a dazzling transformation and a lot of additional traffic.
Ah, Oak Lawn, a vibrant neighborhood known for its eclectic mix of shops, restaurants, and nightlife. But there’s one thing every visitor dreads more than a long wait at brunch: finding a parking spot. Yes, in Oak Lawn, parking isn’t just a challenge; it’s a full-blown adventure.
Imagine this: You’ve finally scored a reservation at that trendy new restaurant everyone’s talking about. You’re feeling good, confident even, as you drive into Oak Lawn. But as you approach your destination, reality hits. The streets are lined with cars, and the few spots that are open seem to be guarded by an invisible force field that only allows scooters to enter.
You circle the block once, then twice, and then—just when you think you’ve found the perfect spot—you see it: a tiny sign that says “No Parking 3rd Monday of Every Month Between 2:00 and 3:00 PM Except Holidays.” You do the mental math. It’s the third Monday. It’s 2:30 PM. You move on.
You find another spot, but it’s directly in front of a fire hydrant. Tempting, but you’re not willing to risk the wrath of Oak Lawn’s finest. And so, the quest continues.
By now, you’ve done more laps around the neighborhood than a marathon runner in training. You’ve memorized the names of every boutique and the faces of every pedestrian who’s watched you pass by (repeatedly). Your gas tank is starting to look as empty as the promises of “ample parking” on the event flyer you saw earlier.
Finally, just when you’re about to give up and valet (but who are we kidding, they’re full too), you spot it: a beautiful, gleaming space. It’s big enough for your car, and there’s no sign forbidding you from parking there. You cautiously inch forward, half-expecting a scooter to zip in out of nowhere. But no—it’s yours. You’ve done it. You’ve won the great Oak Lawn parking lottery.
As you triumphantly step out of your car, you glance at your watch. You’re only 30 minutes late—nothing a little charm can’t fix at the restaurant. You head inside, victorious, ready to enjoy your meal. But deep down, you know the truth: the real victory wasn’t getting that table. It was finding that elusive parking spot.
So, here’s to Oak Lawn, where parking isn’t just a necessity—it’s an art form, a test of patience, and occasionally, a full-contact sport. And if you do manage to snag a spot, treasure it, for you have conquered one of the great urban challenges of our time.
Chuy’s is set to move from its longtime Dallas location on Knox Street, but the beloved (by some) Tex-Mex spot isn’t going far, and there won’t be any disruption in service.
The Austin-based restaurant announced plans to close its Knox-Henderson location at 4544 McKinney Ave. in April 2025. However, Chuy’s will open the doors to a new location on Lower Greenville the very same day, ensuring a seamless transition. “We’re excited to welcome both longtime fans and new guests to our stunning new atmosphere,” Chuy’s officials shared in a statement.
According to The Dallas Morning News, the new location will be at 1520 Greenville Ave., previously home to Desert Racer.
Chuy’s has been a fixture at the corner of McKinney and Knox since 1993, as reported by the Dallas Business Journal. With multiple locations across the Metroplex and throughout Texas, the restaurant has become a go-to spot for Tex-Mex lovers.
As of July, Chuy’s operates 101 locations in 15 states, including Arkansas, Oklahoma, Florida, Georgia, and Alabama.
The restaurant is also undergoing significant changes: Last month, Darden Restaurants, the parent company of Olive Garden and several other popular chains, announced a $605 million deal to acquire Chuy’s Holdings Inc.
“We’re thrilled about joining the Darden family and its portfolio of respected brands,” said Steven Hislop, Chuy’s CEO, president, and chairman. “Darden shares many of our core values, especially in our approach to operations and fostering strong team cultures.”
Based in Orlando, Florida, Darden Restaurants owns several well-known eateries, including Olive Garden, LongHorn Steakhouse, Eddie V’s, Cheddar’s Scratch Kitchen, Bahama Breeze, and more.
Depending on your situation, the tax rules associated with homeownership can help reduce the amount of income tax you owe when filing, thanks to a combination of deductions and credits. Deductions lower your taxable income, while tax credits can directly reduce the amount you owe after your taxable income has been determined.
Whether you’re filing as a homeowner for the first time, after a recent refinance, or following the sale of a home, it’s essential to be aware of the tax deductions available to homeowners as the filing deadline approaches.
Important Note:
Tax outcomes can vary depending on your unique circumstances. This article is intended for informational purposes only and does not serve as tax advice. It’s recommended that you consult a tax professional or certified public accountant to understand how these and other tax implications apply to your situation.
Standard vs. Itemized Deductions
When you file your taxes, you have two options that determine whether you owe money or are entitled to a refund: taking the standard deduction or itemizing your deductions by adding up the expenses you’re allowed to deduct.
The standard deduction reduces your taxable income by:
$13,850 if you’re filing as an individual
$20,800 if you’re filing as a head of household
$27,700 if you’re married and filing jointly
If your allowable expenses exceed the standard deduction, it may be beneficial to itemize.
Typically, your mortgage will only impact your taxes if you choose to itemize, and the total deductions, including mortgage interest, exceed the standard deduction.
Note: If you previously took the standard deduction but refinanced to a higher mortgage rate in 2023, you might find that itemizing is now more advantageous due to increased interest payments. Conversely, if you refinanced to a lower rate, you might benefit more from the standard deduction.
Tax Deductions for Homeowners
Here are some tax deductions available to homeowners who choose to itemize:
1. Mortgage Interest Deduction
If you financed a home purchase in 2023 or increased your mortgage through a cash-out refinance, itemizing could allow you to deduct mortgage interest. Those who itemize can deduct interest on mortgage debt up to $750,000 by filing IRS Form 1040 with a Schedule A. For married couples filing separately, the deduction is capped at $375,000. For mortgages obtained before December 16, 2017, the limit is higher: $1 million for individuals or $500,000 for married couples filing separately.
2. Second Home or Vacation Home Interest Deduction
Mortgage interest on a second or vacation home can also be deducted, provided the total mortgage interest deduction across all properties doesn’t exceed the $750,000 limit. The IRS defines a qualified home as a main or second home, which could include a house, condo, mobile home, or even a boat, as long as it has sleeping, cooking, and toilet facilities.
3. Property Tax Deduction
Property taxes, which are based on your home’s value, are also tax-deductible up to $10,000 in combined state and local taxes. If you’re married and filing separately, the deduction is capped at $5,000 per person.
4. Home Equity Loan Interest
If you took out a home equity loan and used the funds for home improvements, or if the combined mortgage and home equity loan total doesn’t exceed $750,000, the interest on this loan may also be deductible.
5. Mortgage Points and Origination Fees
If you paid origination fees or discount points when securing a mortgage in 2023, these may be considered prepaid interest and could be deductible if you itemize.
6. Capital Gains Exclusion
When selling your primary residence, you may exclude up to $250,000 in profit from your taxable income ($500,000 for married couples filing jointly), provided you’ve lived in the home for at least two of the last five years.
Home Improvements and Tax Implications
While home improvements aren’t deductible in the year they’re made, they can help reduce taxes when you sell your home. Capital improvements, which add value, new uses, or extend the life of your home, can reduce the tax burden on any profit made from the sale.
Tax Credits for Homeowners
Unlike deductions, tax credits reduce the amount you owe on your taxes, regardless of whether you itemize. Some available credits include:
1. Mortgage Interest Tax Credit
Available to first-time homebuyers through the Mortgage Credit Certificate Program, this credit allows homeowners to claim a portion of their annual mortgage interest, up to $2,000.
2. Energy Efficient Home Improvement Credit
This credit covers 30% of the cost of energy-efficient upgrades, such as heat pumps, insulation, and energy-efficient doors and windows, up to specific limits.
3. Residential Clean Energy Property Credit
Homeowners who install clean energy equipment, like solar panels or wind turbines, can claim a 30% tax credit on the cost and installation.
Nondeductible Expenses
Certain expenses, such as private mortgage insurance, title insurance, and homeowners insurance premiums, are generally not tax-deductible. Additionally, down payments, utilities, and principal mortgage payments do not qualify for deductions.
For more detailed information and guidance on tax breaks for homeowners, consult your tax advisor or visit the IRS website.
Seasoned homeowners weigh in on what caught them off guard, what delighted them and what lessons you can learn from them.
Ask any homeowner, and they’ll likely share the excitement they felt when they first purchased their home. However, after some time, they might also tell you about the surprises—both good and bad—that came with homeownership. From the joy of having the freedom to make the space their own and creating lasting memories, to the unexpected expenses and the seemingly endless maintenance tasks, owning a home can be full of surprises.
We reached out to first-time homeowners on Facebook, asking them to share “the unexpected aspects of homeownership everyone should know.” Over 4,600 people responded, offering valuable insights for those stepping into homeownership for the first time.
What surprised new homeowners after buying their first home?
1. The significant amount of maintenance required, especially for single-family homes.
One of the biggest surprises for first-time homebuyers is often the amount of maintenance required to keep a home running smoothly. From the continuous upkeep, the associated costs, and the feeling that the tasks never seem to end, maintenance can be an unexpected challenge.
According to a survey, about 32% of buyers experienced buyer’s remorse, particularly those who found their new home needed more work or maintenance than anticipated.
“Everything breaks down,” recalls homeowner Wilma about her first few months in her new home. “The washing machine was broken, water leaked through our sliding door when the snow melted, and the worst part was when the driveway collapsed into a 3-foot hole.”
Amy, a local real estate agent (and friend of mine), pointed out that “things happen, even with well-maintained homes.” She emphasized that these costs can quickly add up, especially if you need to hire professionals for repairs rather than tackling them yourself.
The level of maintenance required varies depending on the type of home. For example, condos generally require less upkeep because homeowners associations handle exterior maintenance, landscaping, and shared spaces. Condo owners typically only need to maintain and repair appliances and the interior of their unit.
As a homeowner, you’ll quickly learn how fast grass can grow, why cleaning your gutters regularly is essential, and how to unclog a drain.
“Taxes will go up, as will insurance,’’ wrote Donna in Carrollton, Texas. ”It’s a given. Make sure you can afford MORE THAN you are approved for, as even with a fixed rate mortgage, costs will increase steadily — and often quicker than you may be prepared for.”
Home buyer tip: Pay attention to your escrow statement both at closing and as you make payments over time. The escrow accounting that comes with your statement shows you the share of your mortgage payment that is going to things other than paying for your home.
2. The fluctuating costs of property taxes and homeowners insurance.
When you purchase a home with a fixed-rate mortgage, you might assume that your initial mortgage payment will stay the same throughout the life of the loan. However, this monthly payment typically includes property taxes and insurance, which your mortgage servicer collects into an escrow account and pays on your behalf. These costs can and often do change over time.
3. The potential benefits of tax write-offs.
Clark recognized the costs and time involved in maintaining a home, but he also highlighted the significant advantages, such as the freedom of not having a landlord and the tax benefits of homeownership.
“One of the biggest perks is being able to write off mortgage interest on your taxes,” he shared. “Plus, there’s the freedom! No landlords dictating how you should live, and you have the liberty to make changes to your home (within reason).”
For more details on the potential tax benefits of homeownership, check out our guide on Tax Breaks for Homeowners.
4. The impact neighbors can have on your quality of life.
No matter how much you love your home, the quality of life there can be greatly enhanced or severely affected by the people living around you.
“Get to know the neighbors!” advises my friend Karen. “Don’t just do a quick drive-by—take the time to walk through the neighborhood, talk to people, and visit with them. There’s nothing worse than buying your dream home only to find it’s surrounded by a nightmare!”
Marcus shares a similar sentiment: “Before you buy, meet the neighbors! They can make or break your experience and even influence the value of your home.”
Karen adds, “For me, it’s all about the neighbors. It’s not just the neighborhood itself, but who you’ll see and hear every time you step outside.”
Consuelo was fortunate to end up with “great neighbors who are always willing to say hello or help when needed,” which has significantly improved her living experience.
Homebuyer Tip:
Make sure to visit the home and neighborhood at different times of the day when neighbors are likely to be active. Whether you’re a night owl or an early riser, take note of the noise levels during evenings and mornings.
5. The amount of knowledge required to maintain a home.
Remember when something broke, and you could just call the landlord or property manager to handle the repair? Now, that responsibility falls on you. Consider all the things that make your home comfortable and functional: heating and air conditioning systems, appliances, clear sewer lines, and leak-free plumbing. When something goes wrong, it’s up to you to either fix it yourself or hire someone to do the job.
“Get to know your house,” advises Gabby. “Understand how the sprinkler system works, where the water and gas shut-off valves are, and how to maintain the hot water heater and water softener. Learn to handle basic repairs.”
Abigail adds more to the list: “Be aware of the costs of utilities, tax bills, and potential tax increases, as well as the expenses involved in maintaining a yard or pool. Also, consider the costs of addressing hazards like lead paint, asbestos, and radon, or repairing a sea wall if your property has one.”
Homebuyer Tip:
Before purchasing a home, ensure it undergoes a thorough inspection to minimize unexpected issues. Create a budget for potential repairs and renovations, and plan for the unexpected by pricing out any upgrades you might want to make.
6. The relatively stable monthly living costs, even in a fluctuating real estate market.
Rose shared that purchasing her home has been the best investment she’s ever made.
“When the stock market drops, your money can vanish, and you have to wait for the market to recover to regain what you lost, often while paying fees to someone managing your investments,” she explained. “In contrast, if the housing market dips, you still have a place to live. Unless you’re in a hurry to sell, you haven’t really lost anything because it’s still your home. While there is maintenance involved with any property, unlike cars, a home’s value will appreciate over time rather than depreciate.”
7. How external factors can influence your property.
Various factors can influence what you’re able to do with your home. If you live in a subdivision governed by a homeowners association (HOA), you’ll need to be aware of the rules regarding what you can and can’t do with your property. Additionally, county zoning laws or local projects could impact the character of your neighborhood.
Maya from Lewisville, shared her experience: “Be sure to thoroughly review the entire property and what it involves. We didn’t realize we had pipelines on our land, or that we couldn’t build a shed, or that they could remove our trees at any time. It’s important to be very, very careful.”
Cassandra in Wylie, Texas, emphasized the importance of considering adjacent properties: “If the property borders anything other than a road or other residential areas, examine it closely! Abandoned railroad tracks, a cornfield, an empty lot—anything with the potential to change could impact your home life.”
Homebuyer Tip:
Conduct thorough research on the property and surrounding areas and ask questions.
8. Maintenance isn’t a one-time task, some things require regular upkeep.
Certain systems in your home require regular inspections and maintenance. Homeowners often highlight these essential tasks:
“You should have your furnace and air conditioning serviced every year,” advises Madison.
“Don’t forget to drain your water heater annually and check the anode rod. If you have a private septic system, it’s important to learn how to maintain that as well. Remember, your house needs to breathe, your plumbing pipes have vents. Make sure to clean out your dryer vents and keep a fire extinguisher handy, just in case,” adds Sophia.
Rebecca emphasizes the importance of staying proactive: “It’s crucial to maintain your home on a regular schedule, though it’s not always easy. Clean your gutters, keep an eye on your roof, and know when it’s time to paint the exterior or replace rotting wood.”
Homebuyer Tip:
Keep a calendar to track scheduled maintenance tasks and stick to it. Check out our monthly maintenance checklist to help you get started.
9. Understanding the quirks of your home.
There’s a unique comfort in getting to know your home over time. Much like a car you’ve driven for years, your house will start to “communicate” with you when something needs attention.
Homeowner Hayden suggests that you “Listen to your home. Learn what the ‘normal’ sounds are and what might indicate a problem. It can take a few years to understand these patterns.”
Hayden also pointed out that each season brings its own challenges. For example, he discovered that two pipes in his home are prone to freezing when temperatures drop below 20 degrees. During winter, he keeps an eye on the forecast and prevents freezing by opening cabinet doors and letting a small stream of water run through the pipes overnight.
10. Remember, even if a problem existed before you moved into your condo, you’re still responsible for the repairs.
David thought he was leaving behind all the maintenance headaches when he sold his single-family home of 42 years and moved into a condo. However, he quickly discovered that the building’s upkeep had been neglected, and he was hit with a special assessment to cover maintenance that should have been done long before he purchased the condo.
Homebuyer Tip:
Work with a real estate agent who has experience with condos to guide you through the process. Make sure to thoroughly review all the details before signing a contract. Request to see the HOA’s meeting minutes and carefully examine their financial statements.
11. The unexpected attachment you develop for your home and the joy of making improvements.
Live in a place long enough, and it becomes more than just a house, it’s filled with memories and emotions. Parting with those memories can be tough, especially when you’ve put your own efforts into improving the space, leaving you with a deep sense of accomplishment.
“It’s surprising how much you can obsess over something you’ve changed,” wrote Ula. “You replace a faucet with one you like better, and suddenly it’s, ‘I did that! Wow, it’s so much better.’ You might think it’s just a faucet, but then you realize the new one makes it easier to wash your hands without bumping the sink, and you can fill a glass of water without awkwardly tilting it. As small as it seems, it’s worth getting excited about.”
Ula also adds, “You may fall in love with your home and find it incredibly hard to leave when the time comes to sell—that’s both the good news and the bad news.”
The thought of someone else creating their own memories in the space you once cherished can be difficult for some. “When you sell,” wrote Penny, “all those wonderful memories that are priceless to you don’t really add to the value of the house. Someone is just going to paint over them and start making their own memories.”
12. The deep satisfaction of knowing that it’s truly yours.
Wendy summed up her feelings after adding shade trees, an orchard, archways over entryways, hunting down deals at estate sales and end of season bargains to improve her yard and ability to entertain at home: “Every improvement you make,’’ she wrote, “you can stand back and proudly know ‘It’s yours!!!”
