Renting Versus Buying A Home

by Concerned Parent from USA

Question regarding renting versus buying a home: Dear Kate, What are tax advantages of buying a rental property and renting it to my daughter versus privately financing a mortgage for my daughter on this house instead?


Kate Answers: Renting Versus Buying A Home

Dear Concerned Parent, Looking at this from your daughter's perspective, here are some tips to evaluate renting versus buying a home. But once she reads this, she'll probably want to buy the house versus rent from you!

Your specific question regarding tax advantages of buying a rental property versus privately financing a mortgage for your daughter is a great one. But I would be remiss if I did not say the best way to receive great answers is knowing who to ask.

When it comes to mortgages, you've already know to Ask Kate! But when it comes to tax issues, seek out professional help from a certified public accountant or other tax professional.

I'm interested to know of the direction you take. Would you write back and tell us? I'm sure a lot of Readers consider the same scenario and would be interested to hear of your progress.

I've also included links to the popular How To Buy A House series at the bottom of this page.

Don't forget to take a moment to bookmark this page to your favorites and visit often for more home buying tips. You can also invite friends to comment on this page or ask a question of their own like you did.

Best Wishes,



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Comments for Renting Versus Buying A Home.

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Loved your answer
by: Steve

Hey Kate,

I loved your answer and I agree. Often the most important answer to any question is not the answer but who is answering the question.

Having been a mortgage broker I was often asked tax questions. Sometimes I knew the answer and sometimes I didn't. But the important thing is that I am not qualified to answer because I am a mortgage lender and not a tax adviser.

Want a tax answer? Ask a tax expert.


Click here to add your own comment.

You can also ask Kate about your mortgage at Ask Kate About Buying a House.

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