Real Estate Blog

If you're on the fence about buying a home and wondering if you can afford it, take a look at the tax benefits you'll gain when you buy a home.  Some items like the interest on your mortgage, loan origination points (up front cost of  your mortgage paid when you buy the home), and other costs may even out the difference between your current rent and your possible mortgage payments.

DON'T ASK YOUR REALTOR OR MORTGAGE REP ABOUT TAXES.  Legally, we cannot give legal or tax advice, even if we think we know the answer.  Your best bet is to seek the advice of a tax expert. Also, I would advise that the only web site to go to for information on taxes is www.irs.gov, the IRS web site.  Information on blogs, forums, and other web sites may or may not be accurate and may or may not apply to your specific situation.   Here's the link to a great page on the IRS web site regarding some of these tax benfits: http://www.irs.gov/publications/p936/ar02.html#en_US_publink1000229936

That said, owning a home can have some great tax benefits, not to mention the benefit of just owning your own little piece of the pie.  If you've never owned your own home, including condos and townhomes, then you're in for a great feeling. There really is nothing like that feeling you get when you can finally call your home YOUR home. 

If you're a first time home buyer, finding an agent who will guide you through the process and take the necessary time to explain things to you is very important.  If you're looking for a home in Phoenix, Peoria, Glendale or the surrounding area and would like some more information, please feel free to call me anytime and I'd be happy to help.

Have a great day!