Reasons to Buy a Home (cont)
September 21, 2010
I am continuing to quote from an article in the Wall Street Journal of September 15, 2010. The article was entitled "10 Reasons to Buy a Home".
Yesterday I posted the first 2 of columnist Brett Arends' reasons. Here are number three and four.
"3. You'll save on taxes. You can deduct mortgage interest from your income taxes. You can deduct your real estate taxes...You'll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting."
"4. It'll be yours. You can have the kitchen and bathrooms that you want. You can move the walls, build an extension - zoning permitted- or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You'll feel better about your own place if you own it than if you rent it. Many year sago, when I was working for a political campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun selling off public housing to the tenants. "You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy." It was a small sign that said something big."
Remember these words are quoted from an article by Brett Arends in the September 15, 2010 Wall Street Journal. I felt the entire column was a good summary of what home ownership can mean to people that I wanted to share his analysis with you.
I am continuing to quote from an article in the Wall Street Journal of September 15, 2010. The article was entitled "10 Reasons to Buy a Home".
Yesterday I posted the first 2 of columnist Brett Arends' reasons. Here are number three and four.
"3. You'll save on taxes. You can deduct mortgage interest from your income taxes. You can deduct your real estate taxes...You'll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting."
"4. It'll be yours. You can have the kitchen and bathrooms that you want. You can move the walls, build an extension - zoning permitted- or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You'll feel better about your own place if you own it than if you rent it. Many year sago, when I was working for a political campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun selling off public housing to the tenants. "You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy." It was a small sign that said something big."
Remember these words are quoted from an article by Brett Arends in the September 15, 2010 Wall Street Journal. I felt the entire column was a good summary of what home ownership can mean to people that I wanted to share his analysis with you.
posted by shirley harry at 5:04 PM
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