Are you wondering if it makes sense to
buy a home right now? While today’s
mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a
homeowner.
Home Values Appreciate over Time
There’s been a lot of confusion around what’s happened with home prices over the past two years, but they have recently been
appreciating at a more normal pace, which is
good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable, history shows in the long run,
home values rise.Increasing home values is one great reason why buying may make more sense than renting. As prices rise, and as you pay down your mortgage, you build equity. Over time, that growing equity gives your
net worth a boost.
Rent Keeps Going Up Through the Years
Another reason you may want to consider buying a home instead of
renting is the never-ending rent hike. If you’ve ever felt the pinch of rent increasing year after year, you’re not alone. That’s because, rents have
climbed steadily over the past six decades.By
buying a home, you can lock in your monthly housing costs and bid farewell to those pesky rent hikes. That stability is a game-changer.In the end, it all boils down to this: your housing payments are an investment, and you’ve got a choice to make. Do you want to invest in yourself or your landlord?
