Happy Birthday, Karen’s Perspective!

My blog just turned One!

Thank you to my readers for faithfully following my perspective!

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My very first post one year ago was entitled Benefits to Buying a Home Now.  Interestingly, for the most part, it still applies so.. here it is again!:

“Why should you stop renting and start owning in 2009 (or 2010)?  Here are just a few of the reasons:

1.  Tax Deductions – Did you know that up to $1 million of the taxes you pay for your mortgage interest is deductible?

You can also deduct local property taxes.  If you paid points to secure your mortgage, you may be able to deduct those points on your taxes.

2.  New Deductions - Congress has just passed legislation that can give you a tax credit of up to $8000 that you will not have to repay if you stay in your home for at least 3 years.

3.  Special Incentives – Profits on the sell of your primary residence are tax free up to $250,000 if you’re single, $500,000 if you’re married.

There are additional benefits including deductions for home improvements, energy credits and more.  And many incentives are offered just for first time buyers.

Ask your tax or real estate professional about benefits if you buy in 2009.” (or 2010)

Ok, people, what are the benefits you know of for home ownership? Besides the thrill of knowing it’s yours when you come home at night and that you can do whatever you want to it – paint, carpet, knock out walls, build additions, have pets, etc.  And, every dollar you spend on the home directly benefits you, not the landlord.

Don’t get me wrong, I’m a landlord, but  I tell everyone that the benefits to owning are HUGE.  Besides, I LOVE MY HOME!!!

What do you think?