Why throw rent money into the garbage…”bye, bye”…when you can grow equity and gain a huge tax deduction instead?
There is a lot of hubbub about renting making more sense today than buying because the real estate market has gone down. • Well remember “Buy Low, Sell High?” Prices are low now. Now is the time to buy. It is a “buyers market” which means you will have more power to negotiate a lower price. Use that to your advantage. • Yes, you can buy a home! If you are a first time home buyer, you don’t need much of a down payment. Here is an excellent government resource for learning the process of buying a home. If you thought you couldn’t afford it, check again. You just might be surprised. Where there’s a will there’s a way. • The only caveat regarding renting is if you expect to move within a short period of time. In that case, you should calculate which choice makes most sense for you. Here is a calculator that will help you with that decision. Click on the drop down box and choose “Rent or Buy” to access the calculator. 3. Buying Things • Ask: Do I really NEED this? Now? If not, don’t buy
