Rent or Own: The Costs of Buying a Home | The Torch: Liberty Mutual

After several years of a slow housing market, buying is picking up. Housing prices have dropped significantly during the recent slowdown, and mortgage rates remain at historic lows, meaning that purchasing a house is more affordable than it has been in years.

However, if you're wondering, "Should I buy or rent?", it's important to realize that your housing costs will go beyond your monthly mortgage payment. As a renter, you don't need to worry about anything beyond your monthly rent, but owning a home comes with a wide range of financial obligations. As a homeowner, you'll be responsible for several costs.








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