Tuesday, May 30, 2023 / by Lisa Taylor
Escape the Grip of High Inflation
Should You Buy a Home in a High Inflation Environment?
If you've noticed the impact of high inflation on your daily expenses, such as groceries and gas prices, you might be wondering if it still makes sense to buy a home. And if you're a renter, the continuous rise in rent prices only adds to the uncertainty. But here's the bottom line – buying a home is still a viable option, and here's why.
Homeownership Acts as a Shield Against Inflation
Freddie Mac highlights an essential benefit of buying a home today: it helps you build equity while protecting you from the rising costs of inflation. With a fixed-rate mortgage, your monthly housing costs remain stable over the long term, even as other expenses continue to rise – a trend observed in recent years.
Unlike rents, which tend to increase over time, a fixed-rate mortgage ensures predictability throughout the mortgage's lifespan (typically 15 to 30 years). This stability becomes especially valuable when most othe ...
If you've noticed the impact of high inflation on your daily expenses, such as groceries and gas prices, you might be wondering if it still makes sense to buy a home. And if you're a renter, the continuous rise in rent prices only adds to the uncertainty. But here's the bottom line – buying a home is still a viable option, and here's why.
Homeownership Acts as a Shield Against Inflation
Freddie Mac highlights an essential benefit of buying a home today: it helps you build equity while protecting you from the rising costs of inflation. With a fixed-rate mortgage, your monthly housing costs remain stable over the long term, even as other expenses continue to rise – a trend observed in recent years.
Unlike rents, which tend to increase over time, a fixed-rate mortgage ensures predictability throughout the mortgage's lifespan (typically 15 to 30 years). This stability becomes especially valuable when most othe ...
