Buying a Home as a Millennial in 2021
One of the toughest choices for young adults is whether they should buy a home or rent one. Here are a few things to consider when making the best decision for you.
What are your plans within the next few years? Are you planning on starting a family? Getting married? If so, you should consider an area with a good school system and a safer neighborhood. Do you have any long term investments to secure your future?
There are many benefits to owning a home that can not be obtained by renting
For example, financial security, tax deductions, and the avenue for retirement savings. Interest rates are at historic low. With inflation rent is rising, but your mortgage payment will most likely stay the same if you lock in at historic low interest rates. Everyone has different goals and priorities. Sit down and weigh in your pros and cons to see what is the best decision for you.