Why Inflation Shouldn’t Stop You from Buying a Home in 2022

Why Inflation Shouldn’t Stop You from Buying a Home in 2022

If you follow along with the news, you probably hear a lot about the record-breaking home prices, rising consumer costs, supply chain constraints, and more. While home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home this year. 

Buying a home allows you to lock in a monthly mortgage payment. That means as other prices rise, your monthly payment will be consistent thanks to your fixed-rate mortgage. This gives you the peace of mind that the bulk of your housing costs is shielded from inflation. 

“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same”- James Royal, Senior Wealth Management Reporter at Bankrate. 

The best hedge against inflation is a fixed housing cost. That is why you shouldn’t let it stop you from buying a home this year. Don’t know where to start? Contact us today and we will give you expert advice and help you through every step.

 

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