Rental costs in Knoxville are increasing and will continue to increase for as long as you rent. Taking into consideration how much rent you paid ten years ago, and what you are paying now, will be a good indication of what you can expect to pay ten years from now. A mortgage gives a much more stable option. Buying a home in Knoxville with a fixed rate mortgage ensures that your payments will remain the same for the entire length of the loan. Even a mortgage with an adjustable rate will keep your payments in a very stable position.
Income Tax Deductions
Anyone that purchases a home in Knoxville saves money at tax time. Not only is the interest deductible, but so are the property taxes. Rent doesn’t give you any tax breaks, and quite often costs more than a mortgage on a small Knoxville house.
When you own a Knoxville home you are technically saving money for the future. You are not only putting money into a future investment, but as you are paying it off, your Knoxville home is rising in value. You are saving money and making money at the same time. It is truly a win-win situation.
If you have never looked into all the savings you can have by investing in your own home in Knoxville then take a look at all of the savings and add them up. You may be pleasantly surprised to find that owning can be cheaper than what you are currently paying for rent in Knoxville.
There is a lot of free information available to you about buying, selling or investing in Knoxville real estate. For complete information about the Knoxville real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Knoxville real estate at www.RealEstateFish.com. So please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me directly at 865-599-9444 or email me at mailto:Troy@RealEstateFish.com.