(NBC News) – The question of whether to buy or rent a home is back in the forefront. But this time, real estate experts are offering some surprising advice.
New research from realtor.com shows the monthly costs of owning a home have jumped 14 percent in the last year.
Researchers considered that finding, plus other things like property taxes, insurance and maintenance to conclude that renting might be better than buying a home right now.
“Whether it’s the roof, whether it’s the landscaping or something that breaks, so you always have additional costs when owning a home versus when you rent and someone else has to pay for it,” said Olick.
Although home ownership has historically been a good way to accumulate wealth, Olick says renters can do it, too.
“If you take the money you save by renting, and reinvest it, maybe into the stock market, or into an income property, you may make more money than just watching the equity in a home you own grow,” said Olick.
Read more: https://cnb.cx/2N1w089
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