What a great question by Julie from Valencia CA. She is currently renting and ready to jump into the Real Estate buyers market.
Here are a few things that you will want to consider.
- First – We are not at bottom yet.
- Second – Interest rates are extremely low – A client was quoted at 3.75 today!
- Third – Consider in the bottom Quartile in the Santa Clarita Valley – 1/4 of the homes for sale are under 300K. The bottom quartile will receive the lowest declines in the coming months.
- Fourth – Find out what your actual Deductions are going to be for Tax Purposes. 100% of the interest is a Tax Deduction.
- Fifth – Get from your lender, what if properties reduce a further 2% – but what if interest rates increase 1/2 a point.
- You don’t have to worry about moving ever year when a rental lease expires.
- When renting, you are not able to deduct your rental payments. Interest on mortgage payments it 100% deductible.
- There is something special with home ownership. You dig in and can start “nesting”.