Common Questions from First-time Homebuyers and the answers.

 1. Why should I buy, instead of rent?

* Answer: 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 the monthly payment for most of the years of your mortgage. You cn 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.

For more information visit http://www.hud.gov/buying/comq.cfm

 

Comments

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