An important part of buying a house is sitting down with your real estate agent or a mortgage lender to get a clear idea of how much you can afford. They will add up all of your monthly expenses, the mortgage payment, insurance, real estate taxes, homeowners or condo association fees--and the grand total can throw you into shock!

The important thing to remember is that the grand total isn't really the bottom line. When you add your tax savings to the equation, you may be pleasantly surprised. During the early years of your loan, almost all of the mortgage can be deducted from your state and federal income tax. The same is true of your real estate taxes. If you use part of your house as a home office, you may be able to qualify for additional tax savings. In some areas, homes with ground floor apartments are popular for offsetting part of the mortgage and offering even more tax savings.

When you make calculations about the monthly costs that include the tax savings, you may find that owning your own home is less expensive than renting a house or apartment of comparable size.

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Marlene Ginsberg
Coldwell Banker Residential Brokerage
211 South Street
Morristown, NJ 07960
Direct: 973-387-4022
Office: 973-267-8990 x 112
Evening: 973-895-3391
Fax: 862-345-3749
maginsberg@aol.com

Marlene has lived in Morris County for over 30 years and has been an active licensed real estate professional for over 20 years.... She has generated over $140 MM in real estate sales while successfully helping hundreds of families move. A perennial multi-million dollar producer (Gold Level - $15 MM in annual sales), Marlene has been a member of the prestigious Coldwell Bankers International President's Elite, which recognizes the top 1% of the company for the last six years. Marlene received an award for being #1 IN CUSTOMER SERVICE and is ranked among the top 50 out of 3500 Coldwell Banker agents in New Jersey year in and year out. As your NUMBER1EXPERTTM for the Randolph, Parsippany, Denville and Morristown/Morris Township areas of Morris County, Marlene heads a team of real estate professionals that are very well equipped to provide you the finest service for all your real estate needs. Put her and her entire team to work for you! Call or email Marlene today!

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