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Buying a first home

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ChadTower:

Not if he's paying enough in interest to save that much.  Some areas do.  I paid more than $10,000 in mortgage interest in 2006 and my house is small.

shardian:
I guess I'll just never understand you New Englanders and West Coasters. ::)

I make half as much as you guys, live in a house twice as big as yours, and pay a fraction of the mortage/taxes/interest/extras that you guys do.:)

AtomSmasher:

--- Quote from: shardian on March 21, 2007, 12:43:00 pm ---I don't see how you can save $6000 in actual taxes just from the house. That is just crazy.

--- End quote ---
I paid close to $18000 in mortgage interest and property taxes last year, which includes the amount paid to buy down the interest rate (I get to write that off too :) ).   But this year it will be closer to $25,000 since I didn't own the house for most of last year.  I also have a home office which makes the tax break even bigger.  If your wondering, my mortagage payment is a little over $1800/mo.  and my last apartment which was around 600 sqft. smaller then my house and was inferior to my house in every way except location had a payment of around $1700/mo.

shardian:
My house was 1750 sq. ft when I bought it, but will soon be over 2000 once I close up the garage into my game room. Anyways, my mortgage including tax & insurance escrow is $460 a month. ;D
I keep telling my wife that there was a reason I passed up big money jobs in big cities to stay here. I should have her talk to you guys about bills, taxes and such so she can appreciate how good she has in not having to work and having a nice house.

ChadTower:

It all depends on what you do for a living.  Not all professions exist in all places.

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