Reply to Feeling stuck in starter home TH

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are in a similar situation. We can afford another house but can’t justify tripling our mortgage, with majority of it going toward interest. As PP suggested above, we decided to do some updates and decorate to help us like our current house more. I am trying to see the positives. Can’t beat the location and we really do not need that much more space. [/quote]

Interest is deductible[/quote]

It isn’t for us. [/quote]
Incorrect, get a larger mortgage, it basically gives you 1/2 back so it's not really 5k more a month more like 3350 more a month when considering the tax deduction [/quote]

You think you know everyone's situation? Our mortgage is 1 mil and we cannot deduct anything, because of the nature of our employment and visa situation.[/quote]

Yeah ridiculous how people assume they know better than the actual poster who knows their situation.

Ah another IMF/WB/IDB employee. Yeah that is certainly a downside, certainly can't deduct anything when the actual income tax owed is 0. That's the big downside of working there, sure we don't pay taxes but a) salaries given age of employees are super low imo even when taking into account it's net and b) because no tax, can't deduct all the beautiful things you can deduct for. [/quote]

Boo hoo you don't pay taxes[/quote]

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