Commentary and market information for Kansas City Real Estate. Published by Rochelle Walker, Realtor, Natalie Burton Five Star Realty, LLC Contact me Local: 816-305-4140
Ever wonder if you’re better off renting a home or apartment than buying a home? Here’s what most people discover when thinking about making that gigantic leap into home ownership:
☺You accumulate wealth because the value of your home increases each year as long as you maintain it.
☺Your state and federal income taxes are reduced each year because you can deduct the interest and real estate taxes on the home on your annual tax return.
☺You have more space and privacy in your own home than in an apartment.
☺You aren't making someone else wealthy with your payments and don't have anything to show for it at the end of the lease term.
☺Finally, you always have a parking space inside when it rains or snows!
To Help Determine if You are Better Off Buying a Home Checkout Chase Manhattan’s “Better Off Renting Calculator Tool” at http://homeloan.chase.com/svcport_10?Reset=Chase/PubView001&CS=GeneratePage+BetterRentCalc&SSR=B 