Fun fact: owning a home actually helps protect you from inflation!
If you’re on a fixed-rate mortgage (the most common loan type), then your monthly mortgage payment will stay the same even if other expenses go up.
That’s not the same case if you’re renting. In a high inflation environment, your landlord will likely increase your rent to account for inflation. It’s smart to budget for a 5% rent increase every year due to your landlord and inflation.
When you have a fixed-rate mortgage, owning a home will give you a stable housing payment that won’t change.
Want to talk more about how owning a home can give you a boost in this economy? Send me a DM and let’s chat!
Source: @keepingcurrentmatters
