Re: Real Estate people: I want to buy a house, advice?
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I'm really convinced that buying real estate is a bad idea right now, and that's coming from a guy who has about 25% of his net worth in subprime mortgages.
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But if i'm 22 and just graduated college so it's time to move out of my moms house... don't I need to buy a house anyway? I wouldn't imagine that renting right now is better than buying a house although i'm open to the idea it could be. I pretty much just got home from school and am going to move out so I thought buying a house would be the best idea instead of renting.
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since when does paying cash for a house preclude you from deducting real estate taxes?
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It doesn't.
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Yeah, this is what someone was telling me but I didn't read up on it yet myself. They were saying something about itemizing and standard deductions and how you have to itemize a certain amount to be able to deduct real estate taxes... I really don't know how that works yet [img]/images/graemlins/confused.gif[/img]
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