How long will you keep throwing money away on rent? How much have you made by renting in the past five years? How much will you make in the next five years if you continue to rent? Over the last twenty-two years, the price of an average home in Austin, Texas, increased by 240%, or slightly more than 10% per year.
When you buy a home, much of the closing cost is tax deductible. On a $150,000 house, expect to deduct about $1,500.00, even if the closing costs have been paid by the seller! And the interest is tax deductible! On that $150,000.00 house, at 6.0 percent interest, thats a deduction of $9,000.00 in the first year.
Property taxes are deductible! For our average house, thats about $3,500.00 a year. So, if your household income is $40,000.00, and you're in the 20% tax bracket, you would write off a total of $15,500.00, and put $3,100.00 ($15,500 X 20%) back in your pocket! Add that to the average appreciation of your house, roughly $15,000, and you are making- or saving - about $18,000.00 a year by buying instead of renting! Do you still think that you cant afford to buy a house? The truth is that you cant afford not to! And heres the kicker: even if you have no money to put down, and no money for closing costs, we can get you into a home of your own. All you have to do is stop paying rent, and start investing in your own future!