Owning a home will typically allow you to use the interest paid on a mortgage as a tax deduction, whereas the rent you pay each month is not deductible.

Besides financial advantages in owning a home, there is also the benefit of social pride. Owning a home in a community you desire gives you a sense of belonging to the neighborhood. You can raise your children in a neighborhood of your choosing. Owning your own home also gives you the peace of mind and a sense of security that renters probably never experience.

Housing prices have consistently raised in the U.S., sometimes as much as 20%-30% a year. With home ownership being such a large investment, the return on your investment has been and will continue to be outstanding.

It's a fact that every 7-10 years, the values of homes doubles. It may not seem like in the beginning, but history proves it. In the long run, real estate is the best investment you can make.

Freedom is a major benefit of owning your own home. No more apartments with 50 other people living in your building making all kinds of noise. The freedom to paint the walls of the inside of your home whatever color you want and not have to worry about your landlord. The freedom the change the function of your home to better suit it for your family and their needs, such as adding an extra bathroom, changing a den into an extra bedroom, finishing a basement, adding an addition on to the house, etc... These are all major benefits of owning a home. There are many freedoms and a greater sense of pride with homeowners.

When you own your own home you are in charge of your family's home security. Many people feel safer in their own home because there are no tenants coming and going at all hours. A professionally installed home security system may save you a lot on your home owner's insurance premium.