J Leon Wooden warns that retirees on fixed incomes face rising rent stress, while a fixed-rate mortgage locks in stable costs and builds equity. He tells people in their 40s the best time to buy was yesterday, the second best is today, and offers guidance on first-time buyer programs.
Picture this. You are 65 years old, retired, living on 60% of what you used to make, and your landlord just raised the rent again. Sounds stressful? It does not have to be your reality. Here's the truth nobody talks about enough. Every year you wait to buy a home is another year your future self has to compete for rentals on a fixed income. Rent never stops climbing, but a fixed mortgage does. If you are in your 40s right now, 65 will sneak up on you faster than you think. The best time to lock in your housing costs and build equity was yesterday. The second best time is today. Your future self is literally depending on the decision you make right now. Stop renting someone else's dream and start building your own. Contact me and let's talk about first-time buyer programs and how to get started.
