Buy or Rent in Santa Barbara?

Coral Casino aerial photo by Mark Sanchez 2016 from Facebook

To buy or rent in Santa Barbara? If you’re just moving here it might make sense to rent to familiarize yourself with Santa Barbara and its many neighborhoods before buying. But also take in mind that with an almost zero vacancy factor and rising rents, it probably makes sense at some point to buy.

Another consideration is if you have a loan that’s less than a million dollars you’re entitled to deduct the monthly interest and property tax expense from your taxable income. Also, you may be able to deduct some home-related expenses.

With any purchase, you should always consult with your tax and or financial advisor beforehand.