Rent or Own???

On a $200,000 home, your annual tax savings can exceed $2,500!!! This is achieved by Itemizing your Deductions. A renter almost always uses the Standard Deduction. Itemizing allows you to deduct interest, real estate taxes, mortgage insurance premiums, Ohio and city income taxes, Ohio sales tax, charitable contributions and other items. Your mortgage payment is normally fixed - your real estate taxes may change a little but normally not ver much. Rent goes up - normally every year. You eventually own your home. A larger portion of your principal and interest payment goes towards the loan balance every month!!