Deciding whether to buy.
With 4% inflation per year, if your rent costs $1000 a month in 40 years it will balloon to $4800 per month. That’s like buying a house for $960 000.
although the cost of purchasing a home generally increases over the years,after you purchase a home, the bulk of your housing cost aren’t exposed to inflation if you use a fixed-rate mortgage to finance the purchase.A fixed-rate mortgage locks your mortgage payment in at a fixed amount as opposed to an adjustable-rate mortgage payment that fluctuates in value with changes in interest-rate.
You are always going to need a place to live. and over the long term, inflation has almost always been around.
If you purchase a home today, in the decades ahead, you’ll be glad you did.
when you purchase homeowners insurance, you should buy the most comprehensive coverage you can and take the highest deductible you can afford to minimize the cost.
