If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile.
If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat the rising costs that come with inflation.
Homeownership Offers Stability and Security
Buying a home allows you to stabilize what’s typically your biggest monthly expense: your housing cost. If you get a fixed-rate mortgage on your home, you lock in your monthly payment for the duration of your loan, often 15 to 30 years. James Royal, Senior Wealth Management Reporter at Bankrate, says:
“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.”
Home Equity Will Benefit You in the Long Term
While it’s true rising mortgage rates and home prices mean buying a house today costs more than it did a year ago, you still have an opportunity to set yourself up for a long-term win. Buying now lets you lock in at today’s rates and prices before both climb higher. Find out more at KeepingCurrentMatters.com.
Renaissance at South Park will be opening up home sites for new homes to be closed in 2023 in a few weeks. Plan ahead to be sure you have your dream home at this very popular new home community. Consider wonderful home plans like the Bradberry, Crawford, Crestford, Crestwood and Redford home plans to see which one is perfect for your new home. Click here to see virtual tours of plans.
Fairburn is a great place to live. It is a convenient location with easy access to I-85 and Hartsfield Jackson International Airport.
Put your name on a new home now to be able to enjoy the amenities when the time is right. You can look forward to a pool with beach swim out, year round tennis courts and community clubhouse.
Homes from the Low $300’s
For more information, an appointment, or a virtual tour of the community contact Leslie Gaines, Community Sales Manager at 678-760-3637 or renaissance@rocklynhomes.com.
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