Quote:
Originally Posted by MonkeyMama
But if you lived somewhere expensive it would encourage you to buy a home rather than rent. (Whereas maybe there wouldn't be much incentive otherwise).
I guess it should be touted as tax savings for more expensive homes.
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Very true. In the current hypothetical scenario (20% down, $120K loan, $2K property taxes) we will be only $350 more out of pocket than what we pay as rent. Of course maintenance and higher utility bills are not to be disregarded.