Home values are down, Mortgage rates are low, and Rental rates are going up. So......... WHY RENT? There are numerous advantages to being a homeowner. I personally look at the financial advantages. For example, 1. Your mortgage interest is tax deductible. For the begining years of your mortgage you are mostly paying interest so you should have a lot to deduct. 2. You build equity in your property every month. 3. If you pay Mortgage Insurance on your loan that is still tax deductible, certian restictions apply. 4. Buying when the market is low helps build appreciation for the future. I am personally a landlord and I invest in what I sell. I started with my own personal purchase almost ten years ago when the market was on the low end and progressed from there. Do the math or let me do it for you. For example; A home selling for $150,000 and taxes of $3600 a year and home owners insurance of $400 on a 30 year mortgage with an interest rate of 5% your total monthly payment would be around $1,238 total. As you know if you are a renter, most rents are nearly that amount or more. In Berks County right now you can get a lot of home for $150,000. Call me for a private discuss on how you can buy a home. 610 685-2999 x 103 Thank you Teresa Witmyer |