If you rent rather than own a home, you could be missing out on tax benefits that favor home ownership. The current low interest rates make the cost of getting a mortgage relatively inexpensive, despite U.S. house prices at record highs.
Whether you decide to wait for the housing market to cool, or wish to take advantage of low interest rates while they last, take these tax benefits of home ownership into account:
Buying a home is a complicated decision, especially in a seller’s market. But the tax savings over time can be significant. If you need advice on this or other tax-related matters, don’t hesitate to call.