Here are 6 excellent reasons to by a home instead of renting one:
Tax deductibility of the mortgage interest. You cannot deduct your rent payments BUT you CAN deduct the interest on your mortgage!
Tax deductibility of property taxes. Many home owners fail to deduct their property taxes paid on their home when filing their taxes.
Appreciation potential. In a healthy market, home and land prices generally increase faster than the cost of living. Rent payment money goes to the landlord. That's it.
No taxable capital gains for single home owners up to $250,000. and for married couples, $500,000.
Your money is working for you in a home investment. Interest rates are low and home loan payments are affordable. Paying rent makes a landlord wealthy.
Pride of OWNERSHIP! Homes that are owned look nicer and are kept in better condition.
A real estate agent will find you a house to rent, but a great REALTOR® will know your needs, understand your financial situation and will identify and communicate ALL options that will work with your best interests in mind.
Craig Dellio - REALTOR® Rogers Healy and Associates
Debra Collins has over a decade of real estate service! After 14 years in an account executive management position and raising two children with her police officer husband, Debra transitioned into Real Estate in 2002. The attributes of her success are superior market knowledge, hard work, and her commitment to provide great service and representation to all of her clients by offering sound advice to help her clients make the most informed real estate decisions. Holding the Accredited Luxury Home Specialist (ALHS) and Accredited Buyer Representation (ABR) Designations, Debra has a keen eye for helping discerning clients market or purchase a home.