Ah, but that's the joy of it - It'll always be overpriced. But certainly, affordability has to be considered. You never get back high property taxes either, but usually you get all the cool proximity benefits. And bonus - nowadays no bank is going to approve you for what you can't afford.
And actually, if you haven't run the numbers, you'll be *amazed* at how a mortgage works out. Sure I ended up paying more in mortgage than I was paying in rent. But when I claimed the mortgage interest and property taxes on the 1040, I went from a several hundred dollar rebate to a several thousand dollar rebate.
If you use something like Turbo Tax or Tax Act, I could e-mail you some numbers if you'd like to see what they'd do to your return.
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Date: 2009-02-23 12:35 pm (UTC)Unfortunately, DC is still incredibly overpriced.
Ah, but that's the joy of it - It'll always be overpriced. But certainly, affordability has to be considered. You never get back high property taxes either, but usually you get all the cool proximity benefits. And bonus - nowadays no bank is going to approve you for what you can't afford.
And actually, if you haven't run the numbers, you'll be *amazed* at how a mortgage works out. Sure I ended up paying more in mortgage than I was paying in rent. But when I claimed the mortgage interest and property taxes on the 1040, I went from a several hundred dollar rebate to a several thousand dollar rebate.
If you use something like Turbo Tax or Tax Act, I could e-mail you some numbers if you'd like to see what they'd do to your return.