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Why You Should Buy a Home Instead of Renting

This post was written by jd on November 2, 2009
Posted Under: Real Estate

home

I never did like to rent a home, it seems like I was just throwing money out the door every month and paying off the landlords mortgage, plus putting some money in his pocket.

I realize that we had a run up in home prices that put almost everyone out of the market or they bought more house than they could have afforded. Times have changed and there are some really good bargains out there.

The bargains are getting so good in Nevada County, that the lower price homes often have multiple offers.  I’ve placed several offers for clients in homes that were from $200,000 to $500,000 below the original price.  Yes, $500,000 that’s not a typo.  A lot of homes are now selling below replacement costs.  It’s time to buy now, to own your home and not pay off some land lords mortgage.

And finally, a home is an investment. When you rent, you write your monthly check and that money is gone forever. But when you own your home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes. This will save you a lot each year, because the interest you pay will make up most of your monthly payment for most of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner. In addition, the value of your home may go up over the years. Finally, you’ll enjoy having something that’s all yours – a home where your own personal style will tell the world who you are.

Reader Comments

Caro – Dude! We were almost in Vegas at the same time! I’ve been here since late on Friday and leave toromrow (Tuesday) afternoon. I was here with Chris and some friends over the weekend and am working today and toromrow at a Ski Industry Trade show thingy. Your pictures are way way better than mine though. I still need some camera experience!!

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Written By Anonymous on May 21st, 2013 @ 3:40 AM