Home › Forums › Housing › An observation on waiting to buy › I am not so sure about tax
I am not so sure about tax adavantage.
For 6% interest, you get 2% back (assuming 33% tax bracket), but you have to pay 1.25% property tax.
So, you get only 0.75% back.
On the other hand, renters have the standard deduction.
The difference between the 0.75% and (33% of the standard deduction) is your actual saving.
By the way, the interst over 1MM is not deductible.
