Like diamonds, not all possessions are ruled by practicality or formulas. A home is an extension of ourselves and a way to display our uniqueness in the world. Practically speaking, it is probably a better tax write off to have rental properties that you can depreciate the value of your property for significant tax advantages, and live in a small apartment ala Howard Hughes! But most people tire of rules of what you can and can not do in someone else's house, asking permission to paint or put up a shelf, owning property also is a declaration of independence! Ownership is a trait long ingrained in the human spirit akin to capitalism! Run, do not walk to the closest loan broker, and get your preapproval letter and declare independence! Best, Terry Bell, Realtor, Sonoma County Wine County, CPS Real Estate, Santa Rosa, CA
BA in psychology, legal assistant and homeowner and rental property owner!