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The Real Cost of Owning a Home — Eric Turner

ericturner.dev · 1,721 words · saved by 3 readers

Owning a home costs a lot more than just the mortgage. Here are the hidden costs to consider when deciding whether to buy or rent.

You've probably heard someone say something to the effect of "renting is just throwing your money away". Don't believe it. It's a glib statement that simply isn't true. There are so many hidden costs to home ownership that most people who have never owned a home don't know about. If you want to make an informed decision about whether to buy a home or keep renting, then you need to understand these costs. I'll break them down for you in this post, showing my actual costs. Expenses Mortgage Loan Fees Getting a loan is not cheap. When I bought my home, the total settlement costs were about 3% of

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