Tired of spending a $1.25 per load to wash your clothes? Home ownership offers so many benefits, many we never think about, like the convenience of having your own washer/dryer at home. 

But, lets consider the financial impacts as well. Think about this: when you rent, you are paying your landlord's mortgage. They're gathering wealth in appreciation and tax deductions, while you're doing time as a renter. 

Let's calculate how much money you will spend in rent over 5 years:

That's a lot of money to put in someone else's pocket. Now, instead of helping your landlord retire, consider investing in your future, begin earning equity on your own home and start getting tax deductions?

When you are a homeowner, you can deduct the interest portion of your monthly mortgage payment and property taxes, which often equates into tax savings.

It's important to look at what your net after taxes monthly mortgage payment will be after you calculate your mortgage interest deductions. Many of our clients have found that their mortgage payment ended up being about the same as what they were paying for rent. 

To find out exactly what your tax savings would be, we recommend  that you speak to a reputable accountant.

Feel free to contact us to discuss your options.

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