Buying a home is a major financial step and long-term commitment. Owning a home is the quintessential American Dream, but aside from the feeling of pride it brings, there are plenty of practical reasons to purchase a home.
Consistent Housing Payment
The biggest cost to budget for in your personal life is likely your housing payment. Being a renter means you are at the mercy of your landlord's lease agreement, and rents tend to rise annually.
With a fixed-rate loan, your monthly mortgage payment will be the same amount every month. Knowing the monthly bill is going to stay the same every month for years to come is a huge relief and makes budgeting for the future much easier.
© 2023 Realty Today All rights reserved. Do not reproduce without permission.
