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Chicago fishes - have a 2 bed 2 bath available for rent immediately in Lakeview (near Montrose beach). Full amenity building with spectacular views of lake from all rooms, and easy access to public transit. Please DM if interested. Thank you!
https://www.zillow.com/homedetails/4250-N-Marine-Dr-APT-822-Chicago-IL-60613/3703720_zpid/
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eh, say you make 100k. Standard deduction is relatively high in the current tax environment, about 12k off your taxable income vs maybe 15k for mortgage interest/property taxes if your home is about 300k (very rough estimate—lot of variables). At a 24% marginal rate, that’s only an extra $720 saved in taxes vs someone without a home. Maxing our 401k would save 19k, at a rate of 22-24%, or more than $4000 in taxes saved vs someone not saving in 401k at all.
Yeah, what SC1 said. You'll also get a deduction for real estate taxes, but the SALT deduction is capped overall at 10k. So you may benefit up to another 1k with the house. If you have other itemized deductions, such as charitable contributions, you would benefit from that as well, whereas if you didnt have a mortgage, you'd be claiming the standard deduction.