To Rent or Buy, That is the question
By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
Should You Rent or Should You Buy? Things being equal it's almost always better to own your home rather than to rent. After all, you build equity and get to write off your mortgage interest. And if you meet the guidelines, when you sell you'll be eligible for one of the best tax breaks around. There are many issues that influence whether buying or renting is right for you. That said, home ownership has a significant tax advantage. When you sell married couples can earn up to $500,000 in gains on home sales tax-free, while singles get $250,000. The chart below demonstrates the amount of accumulated money renters are paying that could be building equity in their own homes. WARNING!!! Renting Is Hazardous To Your Wealth! LOOK BELOW! To see how much you are losing every year! Your Monthly R...
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