Feeling a Little Cramped?   |   Ownership vs. Rental   |   The Buying Process

Ownership vs. Rental

If you are currently renting an apartment it may feel like you’re throwing money away each month as you send a check off to the landlord. All that money gone with really nothing to show for it. In fact, you may have spent money painting your apartment or otherwise improving it only to have the landlord raise the rent! But there is an alternative, the "American Dream," a home of your own. Obtaining that first home is not as difficult as you might think. Lenders are looking to give mortgages and offer different programs designed to fit almost any need. "Uncle Sam" wants you to invest in your future and provides tax incentives to help make it possible. An experienced, professional Roy Wheeler Realty Co. Agent is available to provide you with the information you need and answer the questions you’ll have. They’ll take you step-by-step through the entire buying process from the day you begin searching for that perfect property, to the moment you receive the keys to your very own front door. In the meantime, here are some facts you should know that may very well help you out of that apartment and into your very own "castle."


There are mortgage plans available that help you purchase a home with little or no money down. Also, there are new sources of down payment money. You may use, penalty free, withdrawals from traditional IRA or new "Roth IRS Plus" to help with the purchase of a new home. The withdrawal may come from buyer’s own account, spouse’s account, or a parent or grandparent. Of course, other sources of down payment funds remain available such as gifted money from parents and relatives.


  • Buyers can deduct interest on mortgage payments.
  • Buyers can deduct points paid at settlement by either buyers or sellers.
  • Buyers can deduct real property taxes.
  • Buyers can deduct mortgage interest and property taxes on a vacation home.
  • Buyers can deduct moving expenses if they move because of a new job or job transfer.
  • Home offices can be another source of tax deductions.

All in all, buying a home has become simpler and less costly. So, what are you waiting for? Please feel free to contact us for further information or a consultation without obligation.

Disclaimer: This information is believed to be accurate but is not guaranteed. To verify this information we recommend you check with a CPA, accountant or tax preparer.