First, you are paying for someone else's mortgage. When you make your payment you get a place to live but once that is over you have nothing for your dollar. Second, rental fees can increase at any time, anytime your landlord wants to make a few extra dollars.
Third, in most situations you can not make any changes to your home or apartment such as re-painting, updating to more heat efficient windows, adding on for extra space, and in some situations even hanging pictures or shelves on the wall. Getting your own place thanks to a San Diego home loan will give you the personal freedom to do what you want.
Fourth, buying your own home in San Diego is a great investment. Once you have a San Diego mortgage for your own home you own it, and when your property appreciates then you reap the benefits. You can also choose to flip sides and rent your property out to someone else and make extra money doing so.
Fifth, you get a very big tax benefit as a first time home buyer in San Diego, including a tax return on interest paid on your mortgage (which is large for the first few years) and this year there is a $7500 credit for first time home buyers.
San Diego home loan rates are at an all time low, and with this economy it is a buyer's market so if you have good credit and a stable income now is one of the best times you can buy property in San Diego. Contact your local San Diego home loan bank today to get started on your real estate search and stop throwing your money away by renting.
Tags: san diego, home loan, property
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