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OF OWNING YOUR OWN HOME
monthly housing costs
When you rent
a place to live, you can certainly expect your rent to increase
each year – or even more often. If you get a fixed rate mortgage
when you buy a home, you have the same monthly payment amount for
thirty years. Even if you get an adjustable rate mortgage, your
payment will stay within a certain range for the entire life of
the mortgage – and interest rates aren’t as volatile now as they
were in the late seventies and early eighties.
much rent might be ten, fifteen, or even thirty years from now?
Which makes more sense?