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The Brussels Post, 1978-04-19, Page 33property values increase, renters don't profit from rising home prices, and they, cannot take advantage of many tax deductions avail- able to home owners. The critical point is to buy that first home as early as possible, the experts empha- size. It may be necessary for a newlywed couple to ar- range financing with a ten or even five percent down pay- ment, rather than the corn-. mon twenty percent. Yet, despite the extra costs, higher interest rates and additional service charges of mortgages with lower dovin payments, early home purchase decisions help newlyweds hedge against inflation. It is the first step in the youthful pair's road to a strong finan- cial position. What other strategies should a young married couple consider? The real es- tate experts offer the follow- ing tips: • DO look for modestly priced homes in good neighborhoods. These houses may have only two bedrooms and old- fashioned kitchens and -baths, but they can be im- proved to increase resale value. • • DON'T get in over your. head. Be sure you aren't caught with a home that needs a new plumbing sys- tem, furnace, roof or elec- trical wiring. •DO keep good records and receipts for all youf home's costs. Virtually any expense that increases the value of your home and is 'passed along to a new owner can be deduct- ed from your profits on resale to . reduce taxes. Shutters, drapes, carpets, dishwashers and re- modeled bathrooms are all examples of items that can be deducted if sup- ported by records. t Decide early on home purchase Wedding costs: who pays them? 12 ARIDA% SECTION With marriage just around the corner, do you find yourself dreaming of clapboard sidings and gabled roofs? Cape Cod win- dows and brass door knock- ers? But, are you jolted out of such reveries with the words, "How can we afford it?" Dreams of home owner- ship can become a reality for today's newlywed couple, with a little financial plan- ning and a lot of elbow grease. As inflation spirals up- ward, newlyweds — and everyone else — are rede- signing their personal finances and investments to help guarantee a solid finan- cial future. One way is by in- vesting' during the first year of marriage in a small, modestly-priced older home that needs fixing up, accord- ing to real estate experts from RELO, a not-for- profit nationwide network of relocation specialists. They say that young wcoupla should depart from the tradition of renting until they've saved enough for the down payment on their dream house. In these times, inflation will increase the re- quired down payment by 25 percent in the next five .years. Instead, newlyweds are advised to look .for a `start- er" home in a well-estab- lished neighborhood; an in- vestment which should ap- preciate at least as quickly as inflation. Young home owners also reduce taxes through inter- est payments on home mort- gages. The mortgage pay- ments, at the top of any fathily's budget, are in effect a forced-savings plan as the couple builds up equity in a new home. But, newlyweds who post- pone buying their first home collect rent receipts rather than build equity. As Tradition has it that wed- ding expenses are shared,, among the bride, the groom and the bride's family. Who' pays for what? The groom's wedding ring and wedding gift are the bride's responsibility, in ad- dition to the presents for her r, attendants, accommoda- tions for out-of-town' at-1 tendants, her personal sta-1 tionery and her medical exam. The groom pays for the marriage . license, his medi- cal. exam, the bride's wed- ding and engagement bou- quets and going-away dor- ' sage, wedding party bouton- . nieres, flowers. for both mothers, gloves, ascots or You Chose The The Right Guy, Together You Chose The Perfect Date. 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From NI 11 VIC2 $ 189 Sewing Machines only Mary's Sewing Centre Your authorized White-Elna dealer. 17 Victoria St. Clinton 482-7036 ties for the men in the wed-- ding, gifts and accommoda- tions for the best man and .ushers, the fee for the clergyman and the wedding trip. The bride's family shoul ders many of the costs, in- cluding the bride's wedding attire and trousseau, invita- tions and announcements, photographs, church rental fee, the costs of the organik; soloist and sexton, aisle car- peting, flowers for the church, the bridesmaids' bouquets and luncheon, the entire cost of the reception, and transportation for the bridal party from house to church and reception.