Maskot | Digitalvision | Getty Images'Homeownership has a lot more expenses than renting'"Homeownership has a lot more expenses than renting: taxes, insurance, maintenance, down payment.
All these factors need to be considered," said Cherry, a member of CNBC's Financial Advisor Council.
"Understand what it is to be a homeowner and how things work," said Elliott, also a member of CNBC's Financial Advisor Council.
"The cost of homeownership versus renting has been made [it] daunting to become a homeowner.
"At the end of the day, what good is being a homeowner when you can't provide basic necessities for yourself and your loved ones?"
Persons:
Cherry, Kamila Elliott, Elliott, Susan M, Wachter, Preston D, Jacob Channel
Organizations:
Digitalvision, Getty, CNBC's, CFP, Wealth Partners, CNBC, Council, The Wharton School, University of Pennsylvania, Cherry
Locations:
Atlanta, U.S