Buy, buy, buy

All indications in California are to buy versus to rent in areas where medium home prices are near $300,000. Some assumptions go into play here in that it requires a 20% downpayment and under 5% interest rate.

This is in areas where a 3 bed 2 bath home would rent for around $1800. This could result in as much as savings for owning near $200 a month. Not a bad savings for home ownership.

Plus throw in the mortgage interest deduction, and now you are well on your way to saving more. Up to approximately $3000 in tax savings in the first year alone.