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Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

“When considering the overall cost of homeownership, the price of insurance and property taxes will vary based on community and location,” Ross says. You can check with your local tax office or assessor to confirm the property taxes in your area and calculate what you can expect to pay based on a home’s assessed value.

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Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

Watch: Buyers Should Know These Factors That Drive Up a Home’s Price. When considering the overall cost of homeownership, the price of insurance and property taxes will vary based on community and location,” Ross says. Keep in mind that property taxes vary widely by state and city.

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The Pros and Cons of Buying a House

PennyMac

The ability to decorate your walls, or paint them sky blue, and live with a pet without landlord approval makes buying a home attractive, as do the substantial financial benefits such as tax savings and equity building. Buyer builds equity in the home. Mortgage interest and property taxes may be tax deductible.