Reported 1 day ago
Beth, a long-time renter, is contemplating purchasing her current home from her landlord for $450,000, which would raise her monthly payments by about $30 compared to her current rent. While the mortgage seems affordable, she must consider the hidden costs of homeownership, such as property taxes, insurance, and maintenance, which can surpass the cost of renting. Additionally, she should evaluate her financial readiness and the opportunity costs involved in purchasing a home compared to other investments.
Source: YAHOO