# House/Condo Buying Tips Please **URL:** \ **Category:** random\ **Created:** [March 19, 2006, 3:43am UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530 "2006-03-19T03:43:25Z")\ **Posts on this page:** 8\ **Page:** 2
**Author:** ![bwh2](https://avatars.discourse-cdn.com/v4/letter/b/8c91f0/32.png) [@bwh2](https://forum.kirupa.com/u/bwh2)\ **Post date:** [March 22, 2006, 10:48pm UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530/21 "2006-03-22T22:48:52Z")
i would really do research on [yahoo! finance](http://finance.yahoo.com/loan/mortgage). some recent articles/resources i found useful: [http://finance.yahoo.com/loan/mortgage/overview/article/101345/buy\_dont\_rent\_when\_you\_can\_afford\_the\_down\_payment](http://finance.yahoo.com/loan/mortgage/overview/article/101345/buy_dont_rent_when_you_can_afford_the_down_payment) > **[Yahoo Finance - Business Finance, Stock Market, Quotes, News](https://finance.yahoo.com/)** > > At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. [http://finance.yahoo.com/loan/mortgage/home\_buying\_tips](http://finance.yahoo.com/loan/mortgage/home_buying_tips) btw, the first article that suggests to buy, not rent doesn’t take into consideration that if you invested the down payment and got a 10% return, you would be better of renting. just a thought. ---
**Author:** ![blindlizard](https://avatars.discourse-cdn.com/v4/letter/b/e47774/32.png) [@blindlizard](https://forum.kirupa.com/u/blindlizard)\ **Post date:** [March 22, 2006, 11:38pm UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530/22 "2006-03-22T23:38:29Z")
You also have to take in account that interest on a home loan is tax deductable whereas rent is not. ---
**Author:** ![mrhines1](https://yyz1.discourse-cdn.com/flex011/user_avatar/forum.kirupa.com/mrhines1/32/434_2.png) [@mrhines1](https://forum.kirupa.com/u/mrhines1)\ **Post date:** [March 23, 2006, 8:08pm UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530/23 "2006-03-23T20:08:53Z")
> [@blindlizard](#): > > You also have to take in account that interest on a home loan is tax deductable whereas rent is not. I have heard that you get tax deductions for owning a home. What exactly does that mean? :h: ---
**Author:** ![fester8542](https://avatars.discourse-cdn.com/v4/letter/f/a183cd/32.png) [@fester8542](https://forum.kirupa.com/u/fester8542)\ **Post date:** [March 23, 2006, 8:37pm UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530/24 "2006-03-23T20:37:25Z")
That you can deduct all the taxes and interest (most of your mortgage payment) at the end of the year. ---
**Author:** ![bwh2](https://avatars.discourse-cdn.com/v4/letter/b/8c91f0/32.png) [@bwh2](https://forum.kirupa.com/u/bwh2)\ **Post date:** [March 23, 2006, 8:39pm UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530/25 "2006-03-23T20:39:59Z")
> [@mrhines1](#): > > I have heard that you get tax deductions for owning a home. What exactly does that mean? :h: basically your mortgage is comprised of 2 parts: 1. principal 2. interest your mortgage payments will include both part principal and interest. the interest you pay on your mortgage is tax deductible. in the first few years of owning a home, most of your mortgage payment will be interest. so in the first few years, you will have higher tax deductions b/c you’re paying more in interest than in later years. ---
**Author:** ![mrhines1](https://yyz1.discourse-cdn.com/flex011/user_avatar/forum.kirupa.com/mrhines1/32/434_2.png) [@mrhines1](https://forum.kirupa.com/u/mrhines1)\ **Post date:** [March 25, 2006, 9:09pm UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530/26 "2006-03-25T21:09:43Z")
Thanks for the explanation! I talked with the broker on Friday and got a better idea of what I can afford. Also, I learned that I qualify for a type of loan that has no PMI payments (it’s for first-time buyers) so that’s good news. Now all I have to do is find the right place for the right price. Shouldn’t be a problem, right? :ne: ---
**Author:** ![rere420](https://avatars.discourse-cdn.com/v4/letter/r/b5e925/32.png) [@rere420](https://forum.kirupa.com/u/rere420)\ **Post date:** [March 28, 2006, 9:21pm UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530/27 "2006-03-28T21:21:43Z")
Good luch mrhines1~ I have been looking for a while but pretty much everywhere in Massachusetts is so expensive…Got to love being near Boston ---
**Author:** ![mrhines1](https://yyz1.discourse-cdn.com/flex011/user_avatar/forum.kirupa.com/mrhines1/32/434_2.png) [@mrhines1](https://forum.kirupa.com/u/mrhines1)\ **Post date:** [March 29, 2006, 1:30am UTC](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530/28 "2006-03-29T01:30:29Z")
Yeah, the area I’m looking at has been developing fairly quickly so the prices have been rising, but they aren’t quite out of my range yet. I’m sure the Boston area has to be ridiculous! [Previous page](https://forum.kirupa.com/t/house-condo-buying-tips-please/182530.md?page=1)