Assess Your Finances
Calculating the cost of
homeownership
Calculating the cost of homeownership is
much more complicated, because income tax
considerations affect your bottom line.
And there is, in addition, the uncertainty
about how much the value of your home will
rise (or even fall) in the coming years.
As a tenant, you may be taking
a standard deduction on your income tax
return. This is the time to judge how that
standard deduction stacks up against the
amount you'd be able to subtract from income
if, like most homeowners, you itemized deductions
instead.
