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Where should I start my business based on mortgage advantages?

Hi, I'm starting a business that will allow me to work from home...therefore, my wife and I want to move! We currently live in Seattle, WA but were wondering if there's any particular state or area that has an advantage to having a mortgage in that specific area over another area. This could include tax differences, zoning laws, etc. We just want to live somewhere new and would like to reap the maximum benefit from doing so. by jbenz114 from Seattle, Washington. May 24th 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Good luck in your search... but your question is outside the scope of this blog.. Google or your accountant might be a better place to ask your question. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

May 24th 2013
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Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions

Every state is going to be different. They all have different sales tax, income tax (some without income tax) property tax, zoning laws, traffic, congestion, building laws etc...Choosing where to live is important, but so is making your business successful. States like CA are heavy on taxing businesses. Other states like TX welcomes new businesses. Do some research and narrow down what you like about each town/state you find and make a financial plan including how much it will cost to live, as well as start and operate your business.

May 24th 2013
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Raymond Denton (Raymond)
#10 ranked lender in Ohio - 224 contributions

Google "best places to retire" and you'll find what you're looking for.

May 24th 2013
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Oregon has no state sales tax. Mortgage rates and terms will be similar in all states.

May 24th 2013
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Tim Howard (TimHoward)
#75 ranked lender in Ohio - 52 contributions

State income tax, County property tax & even the school district you're in could play a big role in affordability. Try this link for the top 10 states with the lowest cost of living. http://tlc.howstuffworks.com/family/5-us-states-with-lowest-cost-of-living.htm. Good luck! And Ohio isn't bad!

May 24th 2013
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Steven Cook (stcookmortgage@gmail.com)
#37 ranked lender in Washington - 256 contributions

When you start looking at other places to live, as a couple others mentioned, even the locales can make a difference within a state (even in Washington there are quite a few differences between various cities regarding rules and regulations. You will also want to check how their internet access stacks up - since I am guessing you would be using the internet to do your work from home. When you have narrowed it down to three or four locations, contact a local Chamber of Commerce or Economic Development group there to get more details on what is really important to you. There are a few states where the cost of living is lower, and therefore the mortgage advantage would be that you could buy a larger bigger home for less money in those areas. Some of the national ranking reports (on good places to live) forget to factor some items in (some of which might be important to you), so be sure you are comparing apples with apples.

May 24th 2013
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