Recently, I was asked to participate in an article called A Must-Have House Hunting Checklist for bestcompany.com. I brought up one of the benefits of having a mortgage over paying rent:
Remember that comparing a rent payment to a mortgage payment is not apples to apples. New home buyers can deduct mortgage interest on up to $375,000 of debt for individuals and up to $750,000 for married couples. Additionally, rents always go up in the long term while mortgages don’t.
I’m proud to have contributed a small part.
If you have any questions about the home buying process, please don’t hesitate to reach out.