Use this to figure your debt to income ratio. A debt ratio greater than or equal to 40% is generally viewed as an indicator you are a high risk borrower. The number one rule of personal finance is to earn more money than you spend.
Adding solar panels can qualify you for a federal tax credit. In general, home improvements such as a roof replacement do not qualify as a tax deduction. However, installing solar panels or green technology on your roof will qualify you for federal and possibly state energy tax credits. An energy-efficient roof also means lower utility bills.
Report Abuse. In order to not be dinged for taxes you need to live in the second home for 2 of the last 5 years of ownership. The property you live in is the primary residence. You can not claim a second home as primary unless you live full time there and have all the mail sent to you there.