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
Rogers Healy and Associates Real Estate is a DFW based residential and commercial real estate company that was founded in 2007 by Rogers Healy. RHAdfw is passionate about developing long lasting relationships with clients while representing them to buy, sell or lease any home in DFW. Texas Real Estate Commission Consumer Protection Notice