The short answer is the Mortgage Interest & Property Tax Deductions if you ask your accountant.
But why is NOW a great time to move from being a renter to a buyer?
Because home prices are low and Interest Rates are at historical lows + with Mortgage Interest & Property Tax deductions, you may find that it is cheaper to own than rent in your area.
Also consider this, when house prices decline Real Estate Investors buy properties & with the current market conditions these investors are more likely to "hold" these properties rather than trying to "flip" them. This causes demand in the rental markets to increase when fewer properties are sold and as the demand for for rentals increases so do the rents (supply & demand).
If you own instead of rent you can get a "fixed rate mortgage" at historically low rates & you get to deduct Mortgage Interest & Real Estate Taxes.
Nick Walton, REALTOR®, GRI, e-PRO
Mi Casa Es Su Casa International Properties
Global Reach - Local Knowledge
Cell / TXT 469-556-2393
Broker: JP & Associates REALTORS®
6136 Frisco Square Blvd suite 400,
Frisco, TX 75034
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I enjoy building new business relationships across the country and would love to find a way to work together on a transaction or a referral.
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