It’s tax season again and thoughts of home ownership weigh heavily on the minds of renters and other prospective homebuyers. Renters are often apprehensive about the financial responsibility of owning a home. The professionals at Coldwell Banker Island Living in Anacortes, WA want to remind taxpayers that home ownership provides financial benefits.

In addition to HUGE tax incentives for buying a home, there are additional tax incentives for home ownership.  Taxpayers should seek the advice of a financial professional:

• Deductible property taxes and interest. Most homeowners can deduct property taxes and interest paid on their mortgage for each year of ownership.

• Yearly home appreciation. Although it is not a tax advantage, homes build equity over time. Renters receive no financial return on monthly rental costs. 

To search for real estate in Anacortes, La Conner, Bow, Samish Island, Guemes Island, San Juan Islands, Skagit County, or Whidbey Island, please contact one of our exceptional Anacortes Real Estate agents at 360-293-4511 or visit www.CBIslandLiving.com