An important part of buying a house is sitting down with your real estate agent or a mortgage lender to get a clear idea of how much you can afford. They will add up all of your monthly expenses, the mortgage payment, insurance, real estate taxes, homeowners or condo association fees--and the grand total can throw you into shock!

The important thing to remember is that the grand total isn't really the bottom line. When you add your tax savings to the equation, you may be pleasantly surprised. During the early years of your loan, almost all of the mortgage can be deducted from your state and federal income tax. The same is true of your real estate taxes. If you use part of your house as a home office, you may be able to qualify for additional tax savings. In some areas, homes with ground floor apartments are popular for offsetting part of the mortgage and offering even more tax savings.

When you make calculations about the monthly costs that include the tax savings, you may find that owning your own home is less expensive than renting a house or apartment of comparable size.

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Pilar Moscoso, Broker - Realtor
The Moscoso Real Estate Group
Keller Williams Realty Partners SW
2000 NW 150th Avenue, Ste 2000
Pembroke Pines, FL 33028
Phone: 954-438-0345
Fax: 954-237-0401
pilar@moscosogroup.com

In today´s dynamic and complex market, home buying and selling demands more experience and knowledge than before. That is why you need a highly trained professional on your side, with the skills to help you achieve your goals and protect your principal investment.

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