Buying vs. Renting (Part 1 of 2)
By Goran Jovanovic, Realtor, www.goranflorida.com
Buying vs. Renting HOME OWNERSHIP Should you buy or should you rent? This has become a complicated question for thousands of consumers. Not only is this question loaded with personal and lifestyle considerations but financial issues as well. For some, buying is the only sensible thing to do and for others, renting is much more convenient. Most homeowners enjoy the pride of owning such a large investment, and others enjoy having a place to call “home”. There are several advantages that go along with homeownership. Here are a few: Tax Breaks Federal tax laws strongly favor homeowners. Mortgage interest and property taxes are generally tax deductible on your federal return. This can in turn provide you with an enormous tax benefit. Capital gains benefits allow the homeowner to profit wit...