What are your thoughts about the cost of home ownership? Many renters suffer from the same belief, unsure which option is best for their particular circumstances. Many renters dream of owning a home, but they're reluctant to pursue this option fearing they'll never be able to afford it. Unfortunately, a hot real estate market with escalating property prices reinforces this pessimistic attitude.
Before you throw in the towel, let's go over some important facts you may not be aware of: after evaluating the positive effect on your taxes, escalating rent payments, the ability to create wealth through equity, and the freedom associated with owning your own home, you'll be shocked to learn being a homeowner can cost you less over time. When you calculate the thousands of dollars in potential equity you're passing up, you'd be foolish to pass up the opportunity of buying a home.
After you buy a house, the government allows you to reduce your taxable income by subtracting a large portion of your mortgage payment. In reality, your overall homeownership costs can be reduced-contingent on your individual Federal, state, and local marginal income tax rate (MTR). The amount you save could range between 20 to 40% of your monthly mortgage statement.
Let's see how affordable home ownership can be-let's say you have a monthly mortgage payment of $2000 (which includes principal, interest, property taxes, and insurance). After calculating all tax deductions, your final mortgage payment could end up around for $1400 each month. While your real savings will vary with your personal conditions, it's important to know buying a home can be more cost effective than renting. To properly evaluate your financial circumstances, seek the guidance of a season tax attorney, accountant, or mortgage agent. After speaking with a professional, you may just decide owning a home is right for you.
As a homeowner, you'll benefit financially and enjoy the benefits of personal freedom. Gone are the days of living with an overbearing landlord imposing their strict rules on your visitors and pets. If you ask many first time home owners, the sacrifices required to purchase your own home are well worth it. When you evaluate the pros and cons of being a homeowner, don't forget to consider the additional advantages of personal freedom and stability.
At first glance, the monthly cost of ownership may seem higher than renting. This may be especially true in areas of the country where the cost of real estate is hot. However, it's important to look at the big picture. The financial benefits of ownership are a long-term process and you can save thousands of dollars over time.
As a home owner, you have the potential to create a large amount of wealth. History has proven that even when the real estate market fluctuates up and down, homeowners outperform renters when it comes to their financial gains.
Before you throw in the towel, let's go over some important facts you may not be aware of: after evaluating the positive effect on your taxes, escalating rent payments, the ability to create wealth through equity, and the freedom associated with owning your own home, you'll be shocked to learn being a homeowner can cost you less over time. When you calculate the thousands of dollars in potential equity you're passing up, you'd be foolish to pass up the opportunity of buying a home.
After you buy a house, the government allows you to reduce your taxable income by subtracting a large portion of your mortgage payment. In reality, your overall homeownership costs can be reduced-contingent on your individual Federal, state, and local marginal income tax rate (MTR). The amount you save could range between 20 to 40% of your monthly mortgage statement.
Let's see how affordable home ownership can be-let's say you have a monthly mortgage payment of $2000 (which includes principal, interest, property taxes, and insurance). After calculating all tax deductions, your final mortgage payment could end up around for $1400 each month. While your real savings will vary with your personal conditions, it's important to know buying a home can be more cost effective than renting. To properly evaluate your financial circumstances, seek the guidance of a season tax attorney, accountant, or mortgage agent. After speaking with a professional, you may just decide owning a home is right for you.
As a homeowner, you'll benefit financially and enjoy the benefits of personal freedom. Gone are the days of living with an overbearing landlord imposing their strict rules on your visitors and pets. If you ask many first time home owners, the sacrifices required to purchase your own home are well worth it. When you evaluate the pros and cons of being a homeowner, don't forget to consider the additional advantages of personal freedom and stability.
At first glance, the monthly cost of ownership may seem higher than renting. This may be especially true in areas of the country where the cost of real estate is hot. However, it's important to look at the big picture. The financial benefits of ownership are a long-term process and you can save thousands of dollars over time.
As a home owner, you have the potential to create a large amount of wealth. History has proven that even when the real estate market fluctuates up and down, homeowners outperform renters when it comes to their financial gains.
About the Author:
Are you looking at Oakland homes for sale? Check out these Oakland Realtors to help you find one!
0 komentar:
Post a Comment