How do you choose between buying and renting in Durham County area?

Home ownership offers tax benefits as well as the freedom to make decisions about your Durham County home.
Take advantage of once in a lifetime opportunity to purchase a Durham home and get the $8,000 tax credit.
You can even use the $8,000 towards the closing cost of the Durham NC home.

Who is eligible to claim the tax credit?
First-time home buyers purchasing any kind of home-new or resale-are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.

An advantage of renting is not worrying about maintenance and other financial obligations associated with owning property.
There also are a number of economic considerations. Unlike renters, home owners who secure a fixed-rate loan can lock in their monthly housing costs and make prudent investment plans knowing these expenses will not increase substantially.
Home ownership is a highly leveraged investment that can yield substantial profit on a nominal front-end investment.
However, such returns depend on home-price appreciation.
"For some people, owning a home is a great feeling," writes Mitchell A. Levy in his book, "Home Ownership: The American Myth," Myth Breakers Press, Cupertino, Calif.; 1993.
"It does, however, have a price. Besides the maintenance headache, the amount of after-tax money paid to the lender is usually greater than the amount of money otherwise paid in rent," Levy concludes.
As for evaluating the risk associated with home ownership, David T. Schumacher and Erik Page Bucy write in their book "The Buy & Hold Real Estate Strategy," John Wiley & Sons, New York; 1992, that "good property located in growth areas should be regarded as an investment as opposed to a speculation or gamble."
The authors recommend that prospective buyers spend a few months investigating a community. Many people make the mistake of buying in the wrong area.
"Just because certain properties are high-priced doesn't necessarily mean they have some inherent advantage," the authors write. "One property may cost more than another today, but will it still be worth more down the line?

Plenty of complimentary information is offered in terms of purchase, sale or investment in SW Durham North Carolina
real estate. To get comprehensive info about the SW Durham North Carolina real estate market including current
homes for sale, property values and more please visit the most complete website online dedicated to everything
SW Durham North Carolina real estate. I would be happy to answer your questions about mortgages.
I hope you will feel free to call me with any questions you may have. The best place to reach you is on my
mobile phone and here is the number. 919-6413911 You can also send me an e-mail. willie.velez@gmail.com.

For a complete detail on everything on Durham North Carolina Real Estate visit our website at: http://FavoriteHomeRealty.com