You can buy a better home than your current rental property and reduce your tax bill every April 15th.
Many renters who’ve never owned a home are unaware of the specific benefits of home ownership. Not only will owning a well-chosen home help you grow an appreciating asset increasing your overall net worth, but it can also reduce your taxable income and reduce your tax liability every April 15. The end result is that the home you purchase will cost LESS per month than the rental over the year, and you’ll have a better property with no chance of price increase, and control over what you do to make it home.
Here’s how it works:
In this example, the future home owner is paying rent perhaps between $1100 – $1300. It’s possible to purchase a home for $265,000* and pay a mortgage payment equivalent of only $1316 with the Estimated Tax Benefit. That includes:
Principal, Interest, Taxes Insurance and PMI.
What would you rather pay?
- $1300 a month on a property that can never be yours or increase your net worth OR pay
- $1316 a month for a beautiful property that’s yours?
You’ll be paying someone’s mortgage, why not pay your own and also reduce your taxes to Uncle Sam?!
For a private and confidential strategy session meeting, give me a call. 704.562.1030 Text for Faster Service
*This specific scenario figures a down payment amount of $9,276 and up front PMI Fee of $4,475 at an interest rate of 3.875%, dependent on the borrower’s personal credit scores.
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My first experience calling a REALTOR® ended in him hanging up the phone on me. Turns out, I ‘didn’t make enough money’ as a college student to be worth his time. I didn’t give up! I found a builder, built a brand new home, and never looked back. Call me. We’ll see what you need to put into place to move from renter to homeowner! Late is not too late.