Do you own a home you are considering selling because you miss being able to call the landlord to fix the electrical and plumbing issues everytime? Think twice before selling your home and moving into a rental. When you pay rent to a landlord, you are also paying part of their taxes, insurance, and maintenance expenses that have already been figured into your rent. There are rent vs. buy calculators online, so research this avenue before deciding to sell your home. You might be suprised at how little of a difference there actually is between your rent and your mortgage when you figure in appreciation of real estate over a very long period of time (15 plus years without taking out a home equity line of credit and/or without taking out a second mortgage) plus any tax advantages that might be available to you as a homeowner. So call your professional CPA or tax attorney today before making this decision on your own and take into account all of the variables that might affect your finances both now and in the long term.
Written by Sherrie Hartzell All Rights Reserved and copyrighted 2010. 540-903-0212 Coldwell Banker Elite-Locust Grove, VA licensed real estate salesperson
