IS NOW A GOOD TIME TO BUY A HOUSE? WHAT ARE THE FACTORS TO CONSIDER FOR HOME OWNERSHIP

You’re probably wondering if now is a good time to buy a house. It is a seller’s market out there right now.

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Pros of Buying a Home in 2022

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Stable Asset

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Fixed Housing Cost

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With a fixed-rate mortgage, your monthly payments to the bank remain the same. And you are paying the bank with cheaper dollars in the future.

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Refinancing to a lower rate will reduce your monthly mortgage payment, or you could opt for a cash-out refinance to extract the equity from your home.

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IS NOW A GOOD TIME TO BUY A HOUSE? WHAT ARE THE FACTORS TO CONSIDER FOR HOME OWNERSHIP

You’re probably wondering if now is a good time to buy a house. It is a seller’s market out there right now.

Pros of Buying a Home in 2022

Place To Live

Everyone needs a place to live. If you do not already own a home, you are renting. Homeownership is a form of imputed rent.

Stable Asset

Home prices continue to rise year-over-year, with surveys showing that home prices and the housing market are still sound investments.

Fixed Housing Cost

You can easily forecast your living expenses budget with a mortgage payment. Your rent is not fixed and will most likely increase unless you live in a rent-controlled apartment.

With a fixed-rate mortgage, your monthly payments to the bank remain the same. And you are paying the bank with cheaper dollars in the future.

Inflation Hedge

Refinancing to a lower rate will reduce your monthly mortgage payment, or you could opt for a cash-out refinance to extract the equity from your home.

Ability To Lower Payments

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