Philadelphia Weekly

REAL ESTATE

Homeownership not just a tax matter

Mood of the Market

By Inman News Feed

Add Comment | Comments: 0 | Posted Mar. 28, 2011

Statman also points out that many an investor will avoid doing something to make $5,000 in order to avoid $4,000 in taxes -- the stock market counterpart to the person who overextends herself to take on a too-large mortgage in order to get the tax deductions.

When it comes to homeownership, the tax advantages are one very significant consideration to be factored into the "own or not" decision analysis. They render ownership more affordable and can even impact your career decisions, by virtue of changing your tax picture at higher income brackets.

But given the other, weighty lifestyle implications and financial obligations ownership creates, taxes should not be the primary reason anyone buys a home.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions." Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.