Homeownership is the best way to combat surging rental prices.
If you’re renting, have you seen your rent go up recently? Today I want to tell you about something that can help you combat the rising rental prices.
In today’s economy, rent is one of the many things that’s getting more expensive. In fact, 73% of property managers plan to raise rental prices over the next two years. So if you’re renting your home right now, there is a good chance you’ll have to make a tough decision about your lease and your budget sooner rather than later. That’s why homeownership is worth thinking about as an alternative. When you own your home, you don’t have the risk of someone raising your monthly payments. Instead, you have a fixed mortgage payment that locks in what’s likely your largest expense each month, and that’s just the beginning.
While rising rents can make it hard to save money, owning your own home builds wealth. That’s why homeowners have an average net worth over 40 times higher than renters. So don’t keep renting. If you’re ready for home ownership, build your wealth and let it serve as a hedge against inflation.