First Time Home Buyer's Guide to Savings
POV: You’re renting because you think you’re saving money by not having a mortgage. FYI - you already are paying a mortgage…your landlord’s.
Purchasing a home can be expensive initially, but nothing compared to the costs of not owning a home over time. Renters take the hit from many directions: they accrue zero equity, are unable to take advantage of significant tax benefits, and all the property value appreciation goes to their landlord.
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