LIVERMORE — If you’re a renter in the Bay Area, there’s a good chance you’re paying thousands of dollars each month for housing. Like many renters, you may have considered the option of buying a home, only to conclude that you can’t afford it. However, this conclusion may be merely an ill-founded assumption. In reality, the cost of homeownership is often equivalent to that of renting—at least, after you do the math.
Month-to-month, a mortgage payment will typically exceed the cost of rent, but most renters don’t realize how much money they stand to save on their taxes by purchasing a house. Not only do California homeowners benefit from a hefty mortgage loan interest deduction on their income taxes, Read more