Are you having a difficult time discerning whether right now is a good time to invest in real estate, due to concerns about inflation? If you're considering buying a home in Durham or Raleigh, North Carolina, you may be dissuaded in making an investment because of the impact of inflation on your daily expenses, such as groceries and gas. However, as a renter, you may also have noticed that your rent is increasing as well. Given these elevated costs, it might seem counter intuitive to buy a home, however in the current market, it is a vital way of not only protecting your wealth, but of building future wealth.
Building Equity, Stabilizing Rent
Homeownership actually provides a shield against the rising costs brought about by inflation. According to Freddie Mac, buying a home today not only helps you start building equity but also offers the advantage of a fixed-rate mortgage that can stabilize your monthly housing costs in the long run, even as other expenses continue to rise. A mortgage rate is locked, so your mortgage payment will not change, like rent will since it moves in tandem with inflation. When you stabilize your housing costs, you are better able to assess your finances.
A recent survey conducted of property managers showed that 73% plan to raise rents over the next two years. This is the impetus we refer to when we tell buyers that need to really consider buying now. By continuing to rent, your wealth is not stabilizing and you are not gaining equity, in fact you are more vulnerable to rising costs. Housing is one of the largest payments we make monthly. Making this amount of money work FOR you, in terms of long-term stability and building equity, the investment in real estate is an excellent choice.
Why RTP?
The real estate market in Research Triangle Park is one of the best investments you can make, even during times of inflation. We have over 50 years of combined experience in this market, and our community has experienced incredible growth. More people are moving, more jobs are being created, and more real estate is being developed. To protect your money from inflation, we suggest you consider an investment in real estate and your future, as a homeowner in the Research Triangle Park. Please reach out to My NC Homes to learn more!
Posted by Larry Tollen on
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