How to cope or better with home purchase or maintence

Owning a house during inflationary times with high lending rates can be challenging, but there are strategies to help navigate the situation:

  1. Refinance: Consider refinancing your mortgage to lock in a lower interest rate. This can help reduce your monthly payments and provide relief from high lending rates.
  2. Fixed-rate mortgage: If you have an adjustable-rate mortgage, you may want to consider switching to a fixed-rate mortgage to provide stability in the face of rising interest rates.
  3. Reduce expenses: In times of inflation, it’s important to tighten your budget and reduce unnecessary expenses. This can free up funds to cope with increased mortgage payments.
  4. Invest wisely: Consider diversifying your investment portfolio to include assets that can act as a hedge against inflation, such as real estate investment trusts (REITs), inflation-protected securities, or commodities.
  5. Renegotiate terms: If possible, try to renegotiate the terms of your mortgage with your lender to see if there are any options to mitigate the impact of high lending rates.

Remember, consulting with a financial advisor or a real estate expert can provide personalized advice based on your specific circumstances.

Good luck