For most people, buying a home is the single largest investment they will ever make. Because buying a home is such a big event, many people avoid the opportunity altogether and choose to rent instead. When considering renting, just remember that owning a home has many financial benefits - especially in Charleston's real estate market.
One of the biggest financial benefits is income tax deductions. You can reduce your taxable income by deducting the property taxes and the interest of your home mortgage from your gross income. So, if you pay $6,000 a year in interest and $1000 a year in property taxes, you can subtract $7,000 from your taxable income.
Another benefit of owning a home is that you control how much you pay for housing every