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People who rent their homes or apartments are often unaware
of the benefits there are to owning a home. Frankly, they
can often own their own home with a house payment not much
higher than their rent. Some of the advantages to owning
a home include the following, and the first two can have
big financial advantages!
- Tax Savings
- Property Appreciation
- Have A Dog
- Kids Play In Own Backyard
- Own Laundry Room
- Have A Place To Park
Here’s an example of the financial benefits:
Income Of $36,000:
Renting: now pay $750 per month in taxes
If OWNING: Taxes = $636
Save $114 Per Month In Income Taxes
With
decent credit, you could qualify for $110,000 House
Reasonable appreciation per year might be 5% = $5500 appreciation
(equity in YOUR house)
When you rent, YOU are not earning
Appreciation … your
LANDLORD is!
Gain $458 Per Month In Equity
Using a very conservative number of just
$500 per month in rent…
$ 500 Rent
$ 114 Tax Savings
$ 458 Lost Equity
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(6000 yr)
(1375 yr)
(5500 yr)
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| $1072 Per MONTH |
(12,875) |
Lost Financial Opportunities!
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