5 Income Tax Write Offs That Makes Owning a Home Better Than Renting

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Using data collected from the Internal Revenue Service (IRS), we calculated that a homeowner owning a home, who took the average for each of four tax benefits would claim $15,871 in home-related deductions. Those factors are as follows:

Homeowners are given access to several tax benefits that renters don’t even know Buy and Hold investments can offer a lot more than monthly rent checks. Critical tax deductions can make huge contributions to your bottom line ever year.

, do homeowners really save that much more on their taxes than renters? .

  1. Interest paid on the mortgage

  2. Points paid on the mortgage

  3. The total cost of all property taxes

  4. The total cost of insuring the mortgage

Transitioning from a renter to a owning a home comes with significant tax benefits. See how much you can save when you buy a home  READ MORE


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