Find Out More About the Anchorage, Eagle River and Girdwood Area Economy & Job Market  When you think of Alaska, oil probably comes to mind. As the state’s biggest city, Anchorage benefits from the oil economy, even though it is located a thousand miles from the nation’s largest oil reserves. Anchorage serves as an administrative center for the oil industry, with many of the workers living in Anchorage and commuting to the oilfields for two-week rotations. The military is also an economic driver in Anchorage. The city is home to Elmendorf Air Force Base, Fort Richardson Army Post and Kulis Air National Guard base. Together, the bases employ about 8,500 people, not including the thousands of family members of military personnel. Ted Stevens Anchorage International Airport, the city’s main airport, is one of the world’s busiest cargo airports, with over 560 transcontinental cargo flights weekly. These jumbo cargo planes stop in Anchorage for fuel and to swap freight while on their way between Asia and the United States. As you might expect, tourism is also big business in Anchorage. Most visitors to Alaska pass through Anchorage on their way to other parts of the state. Anchorage is fairly centrally located, allowing tourists to base here and make short trips to Denali National Park for hiking and sight-seeing or to the Kenai Peninsula to enjoy sport-fishing. Request our free Anchorage Relocation Guide for more information about Alaska’s biggest city.
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First Time Buyers >The Real Bottom Line
An important part of buying a house is sitting down with your real estate agent or a mortgage lender to get a clear idea of how much you can afford. They will add up all of your monthly expenses, the mortgage payment, insurance, real estate taxes, homeowners or condo association fees--and the grand total can throw you into shock!
The important thing to remember is that the grand total isn't really the bottom line. When you add your tax savings to the equation, you may be pleasantly surprised. During the early years of your loan, almost all of the mortgage can be deducted from your state and federal income tax. The same is true of your real estate taxes. If you use part of your house as a home office, you may be able to qualify for additional tax savings. In some areas, homes with ground floor apartments are popular for offsetting part of the mortgage and offering even more tax savings.
When you make calculations about the monthly costs that include the tax savings, you may find that owning your own home is less expensive than renting a house or apartment of comparable size.
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Lisa Herrington
Herrington & Company, LLC
255 E. Fireweed, Suite 102
Anchorage, AK. 99503
Phone: 907 646-0525
Cell: 907 229-6822
Fax: 907 279-8234
Email: lisah@pobox.alaska.net
Lisa Herrington has more than 25 years of experience as a licensed Realtor in Anchorage, Alaska. She knows the challenges newcomers face when moving to Alaska’s biggest city, from choosing the right neighborhood to making new friends, and she has helped hundreds of families relocate to Anchorage.   
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