(16) Rising Rent With Inflation
It is one of the most common factors to decide on renting or buying a home. Most of the things get costly along with rising rate of inflation. House rent is not an exception in this regard.
If your house rent is rising constantly year-by-year due to rising inflation then perhaps its the right time to start thinking for buying your own house.
Although, buying process do need large amount of funds in a single transaction. But, along with rising inflation the cost of purchasing a house becomes very cheap in coming years as compared to renting a house.
Thus, you should never underestimate the significance of inflation in deciding your choice.
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