If recent headlines about rising inflation are making you wonder if it’s still a good time to buy a home, here’s what the experts say.
Housing Is an Asset That Typically Grows in Value
Ali Wolf, Chief Economist at Zonda looks at housing as an asset. She stated that “If you have cash and are expecting inflation, you want to think through where you can put your money so it does not lose value. Housing is commonly looked at as a good inflation hedge.”
Your Mortgage Helps Stabilize Your Monthly Housing Costs
Senior Wealth Management Reporter at Bankrate, James Royal, said “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. That’s certainly not the case if you’re renting.”
Buying Protects You From Rising Rents
Natalie Campisi, Advisor Staff at Forbes said “Homeowners are shielded from mounting rental prices because their cost is fixed, regardless of what’s happening in the market… Tangible assets like real estate get more valuable over time, which makes buying a home a good way to spend your money during inflation times.”
If you’re thinking about buying a home, experts say owning a home is historically a good hedge against inflation.
Let’s connect if you’re ready to start the homebuying process today.