Buying a Home? The Real Cost of Homeownership
We talk a lot about the advantages of homeownership. You get to have your own space in the world. As opposed to paying a landlord, your mortgage payment is an investment in yourself because you’re gaining equity in the home with each mortgage payment.
That being said, what’s the real cost of owning your own home? Sure, there’s the mortgage and the down payment, but there’s a lot more involved. Let’s go over some of the math involved to see if you’re really ready to buy your own place.