My Blog
Buying Versus Renting in Pittsburgh PA
January 13, 2010 by Mike Martin · Leave a Comment
Most people understand the concept that buying a home is a solid investment, but many people still renting may not be clear of the other benefits associated with owning your very own piece of Pittsburgh property. Here are a few of the best benefits of becoming an owner in Pittsburgh and leaving the renter’s world behind.
Housing Costs
Rental costs in Pittsburgh are increasing and will continue to increase for as long as you rent. Taking into consideration how much rent you paid ten years ago, and what you are paying now, will be a good indication of what you can expect to pay ten years from now. A mortgage gives a much more stable option. Buying a home in Pittsburgh with a fixed rate mortgage ensures that your payments will remain the same for the entire length of the loan. Even a mortgage with an adjustable rate will keep your payments in a very stable position.
Income Tax Deductions
Anyone that purchases a home in Pittsburgh saves money at tax time. Not only is the interest deductible, but so are the property taxes. Rent doesn’t give you any tax breaks, and quite often costs more than a mortgage on a small Pittsburgh house.
Future Savings
When you own a Pittsburgh home you are technically saving money for the future. You are not only putting money into a future investment, but as you are paying it off, your Pittsburgh home is raising in value. You are saving money and making money at the same time. It is truly a win-win situation.
If you have never looked into all the savings you can have by investing in your own home in Pittsburgh then take a look at all of the savings and add them up. You may be pleasantly surprised to find that owning can be cheaper than what you are currently paying for rent in Pittsburgh.
There is a lot of free information available to you about buying, selling or investing in Pittsburgh real estate. For complete information about the Pittsburgh real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Pittsburgh real estate. So please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 412-215-5814 or email me at mmartin@northwood.com.
