Hello Jen,
Thanks for the concern. We are indeed going from renting to buying a
home and though the monthly increase in payments is to be expected, my
worry is the amount we have to spend on fixing up the place. On account
of how much this house costs (it was a nice architect built house
-which is quite run down- no maintenance or years etc., many many
problems, but I guess to an assessor drving by it still looks pretty
good!) versus how much we have to pay in taxes. I've spoken to the tax
people and they have let me know if there are any major repairs that
need to be undertaken before or as soon as we move it, to take pictures
and have a contractor give us an estimate. This should help me appeal
the taxes. Next year when the house is all done up and actually lives
up to its grade 9, then I have no problems paying what they want me to.

We bought the house not expecting so many hidden major problems
(nothing money and sweat equity wont take care of...) Still I'm happy
we bought it, its in the right location and has lots of yard. My
husband has already taken to calling it "the money pit"!

I do understand the tax deduction thing. Like the previous poster it
always amuses me when they say you can take deductions on something. If
you go overboard on the deductions there is the Alternate Minimum tax
to get ya. I really havent itemized (I always itemize but it never
comes up to more than the standard deduction! ) so I dont know if it
will be any better this time.

I have to go do my HW on the tax law updates before the taxes. sigh.
Anita