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If you decide
to buy a house that costs $149,000, at today's interest rates you
would end up paying around $850 a month in your mortgage, which
is a similar amount to renting an average 1 bedroom apartment in
New York.
Not only will
you pay the same money every month as you would while renting in
NYC, you will actually SAVE BIG $$$ on your taxes!
Owning a house
in the Pocono area will SAVE you over $80,000 compared to renting
over the next 7 years, in today's dollars! This is how:
Because whole
mortgage interest is tax deductible, if you are currently paying
taxes at 33% rate, you will save over $3500 a year, just because
you own a house! It comes to a whooping $24,500 over the next 7
years!
But that's not
all! Over the last 5 years, the prices of properties in the Pocono
Mountains area have risen by 5% annually! If the current trend continues,
your house will be worth over $60,000 more in 7 years! You can't
find a better investment opportunity at $0 initial investment! It's
like money found on a street!
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