Quote:
Originally Posted by aigel
But you get your standard deduction.
I find the tax advantage of owning a home become a wash with the added tax burden of property taxes, at least here in CA.
Especially at a loan for $250k, the interest will barely exceed the standard deduction of $12,200 for married couples.
I am sorry, but I am NOT buying it that this is the last good year to buy a house. IMHO when interest rates go up, home prices will no further go up. I'd rather owe less principal at a higher rate than vice versa.
G
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I believe you know more about this than me but it seems taxes on a 250k house in Colorado couldn't 200 a month and the loan would probably be at 5%, the appreciation would be 2 to 4%? if you rent you get nothing. We have been looking to buy another house and we have been looking everyplace it doesn't snow, at least not much. We are going to Prescott next week for a look.