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You are looking to buy a small condo where the combination of monthly mortgage payments and annual property tax bill is much higher than what
You are looking to buy a small condo where the combination of monthly mortgage payments and annual property tax bill is much higher than what you were paying previously for renting a similar property. A friend recommends you purchase on the grounds that you can deduct the interest and property tax from your tax payments which will result lower overall payments buying vs renting. Why might that not be the case?
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