15 Reasons Why Renting Is Better Than Buying a Home

2. Property taxes can kill you

A frowning Sterling K. Brown as Randall Pearson on NBC's "This is Us"

The unexpected costs of homeownership might not make you very happy. | NBC

Many homeowners are unaware of unexpected costs that come with owning a home of your own. Fees, such as property taxes, insurance, and maintenance, add up quickly. For landowners in Hawaii, the property tax on a home worth $179,000 will do little to raise eyebrows, amounting to only $487 annually, according to WalletHub. But those in New Jersey are stuck paying a tax rate of 2.35% that equates to $4,189 annually on a house of the same value. Taxes can fluctuate, but rental terms are consistent across the duration of your lease.

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