mathjak107
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 27, 2005
- Messages
- 6,205
well the way i figure it right now renting is my best deal...first off the write offs from owning can be mis-leading.....we all get the first 10 or 12,000 or so in standard deductions so subtract that right off the bat from what you think your getting back....next thing is we have had some large capital gains over the last few years and triggered the amt tax,say good bye to real estate tax write offs..and because in the years we hit the amt tax the local and state taxes have been large amounts the years where we had no capital gains to trigger the amt the large state and local tax payments and the deductions triggered the amt tax again..point is dont figure your tax benifit of ownership to heavy,you may not get it....
as i said before i bought my house in 1987...169,000...sold it a few years ago for 335,000.......also in 1987 i had a diversified mix of stock funds worth about 100,000,,,today they are over 1 million.....figuring all the rent i would have paid all those years if i didnt buy my house id be able to have rented and bought 3 houses today.............as a place to live a home is great....as an investment its debatable
as i said before i bought my house in 1987...169,000...sold it a few years ago for 335,000.......also in 1987 i had a diversified mix of stock funds worth about 100,000,,,today they are over 1 million.....figuring all the rent i would have paid all those years if i didnt buy my house id be able to have rented and bought 3 houses today.............as a place to live a home is great....as an investment its debatable