Owning home not always better than renting

Q: I rent an apartment in Atlanta. I'm a technology consultant, and work as a contractor eight to 10 months each year. My credit score is 780, and I'm single, with no kids. So, my tax bracket is 33 percent.

In order to save on taxes, I want to buy a home or condo. I know that the mortgage payment is tax-deductible. But I'm not sure whether I should buy a condo or look for a townhome.

How do I know if it makes more sense to rent rather than buying my own home? I'd greatly appreciate your guidance.

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.