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Buying or renting in Helena Montana
- Real Estate Relocation
Many potential home owners hesitate about entering the Helena Montana real estate market because they feel that “owning costs too much.” But the fact is that after you consider income tax deductions, personal freedom, rent increases, and the accumulation of wealth through growing home equity, renters actually not only pay more, they also stand to lose tens of thousands of dollars of net worth.
Tax Deduction
As someone owning real estate in Helena Montana, you will be able to deduct most of your monthly mortgage interest payments from your taxable income. As a result, your actual out-of-pocket home costs will run – depending on your combined federal, state and local income tax rates - 20 to 40 percent less than the amount of the check you write each month for your mortgage payment.
Freedom to make where you live your “home”
If you decide to rent a home in Helena Montana, you are living in someone else’s property. Any improvement, decoration, change has to be approved by the landlord. Some landlords here in Helena Montana are great to rent from – others may not be such diligent landlords! You are not free to express yourself and make the place your own if you decide to rent a home in Helena Montana. Homeownership gives you the freedom to do what you want with your home – whether it’s purple walls, beautiful wallpaper or a hand laid brick patio for your enjoyment!
Rents will go up
Sometimes, even after allowing for tax benefits, the monthly costs of owning may still look higher than renting. But that is a short term view. Today’s rent and mortgage payments are 10 to 20 times higher than they were 30 years ago. Back in the late 50’s you could rent or buy an average home for between $25 to $150 a month. Those wise buyers who locked in their housing payment 30 years ago avoided all the increases over the years that their renting contemporaries had to endure. Similarly, locking in your housing payment today will insure insulation from future cost-of-living increases that will affect the rental market over the next 10 to 20 years. In the year 2020, today’s rent and mortgage prices will seem ridiculously low! The difference will be that you will still be paying those ridiculously low housing payments if you choose to buy a home from one of the many houses for sale in Helena Montana!
Equity Build Up
Over the last 200 years, home prices in across the country have appreciated rapidly, at other times depreciated. But on the whole, homeowners have always built more wealth than renters. Even if your home doesn’t appreciate (a highly unlikely event), at the end of your mortgage term, you will own a valuable asset free and clear. You’ll own nothing if you continue to rent during that time. But if your home does appreciate, your equity will be worth much more than you have paid for it, even factoring in interest payments.
When is it a good time to rent?
If you are only going to be in Helena Montana for a short amount of time you may want to consider renting rather than buying. Normally you have to own a home for a couple of years to realize enough profit from appreciation to pay for selling expenses. Talk to your Helena New Quest City agent to see how long you would have to own a home to be able to break even when you sell.
Chose a real estate agent with experience to help you!
Many buyers start their Helena Montana home search randomly. They see a home listed on a Helena Real Estate site and in their initial excitement call the listing agent. Firstly, that agent is already working for the seller and cannot represent the buyer’s best interests. You need a Helena Real Estate agent with a proven track record of not just sales, but of helping buyers. This is especially true if you are interested in Foreclosures in Helena Montana. Helena Real Estate agents referred by New Quest City have experience in helping buyers relocating to Helena MT buy a home for the right price!
So to find out if buying a home in Helena Montana is an option, request your FREE “Relocation to Helena Montana” relocation package (click on link above). Then, a top Helena Real Estate agent will contact you and send you information on homes in Helena Montana.
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The town was established on October 30, 1864, following the discovery of gold along Last Chance Creek by the "Four Georgians". Helena's main street is named Last Chance Gulch and follows the winding path of the original creek through the historic downtown district. The town was originally named "Crabtown", after John Crab, one of the "Four Georgians". As other miners arrived and the town expanded it was decided to change the name. After many suggestions, John Sommerville suggested the name of his home town, Saint Helena, Minnesota, but the pronunciation (Hel-E-na) did not suit the miners, who preferred HELL-en-a. Dropping "Saint" from the name as unnecessary, the new name Helena was adopted (defeating the name "Tomah" by only two votes). -- Source: Wikipedia.com
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Census Data for Helena, Montana
| Helena | Montana | United States | |
| Population | 25,780 | 902,195 | 281,421,906 |
| Median age | 38.8 | 37.5 | 35.3 |
| Median age for Male | 37.2 | 36.6 | 34 |
| Median age for Female | 40.2 | 38.5 | 36.5 |
| Households | 11,541 | 358,667 | 105,480,101 |
| Household population | 24,684 | 877,433 | 273,643,273 |
| Average household size | 2.14 | 2.45 | 2.59 |
| Families | 6,478 | 237,407 | 71,787,347 |
| Average family size | 2.83 | 2.99 | 3.14 |
| Housing units | 12,133 | 412,633 | 115,904,641 |
| Occupied units | 11,541 | 358,667 | 105,480,101 |
| Vacant units | 592 | 53,966 | 10,424,540 |
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