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Reply to "Didn't realize how expensive home ownership was"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Also partially tax deductible [/quote] dp.. mortgage and property tax on my house is < $16K per year. We have a 2.75% rate on a $145K mortgage (huge down payment on a $1mil house). The standard deduction is more than what we can itemize with the house. I'll be retiring soon, and we will sell our house and rent somewhere for a few years. If we can get 4% return on the $1mi sale (hopefully) , we should be good. Rental insurance is also cheaper than home owners insurance. We will eventually buy a small place to age in, but the tax deduction advantage on owning a property is dependent on the scenario.[/quote] Speaking if renter insurance I pay $63 annual with GEICO (bundled with my car insurance). My HOI is $1.5k/year on comparable property I rent out [/quote]
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