There are many advantages to owning a home.
Some of the biggest advantages are financial. Real estate is a first-rate investment for many reasons:
A monthly mortgage payment can be viewed as a type of scheduled savings plan. Over time you gradually accumulate equity, which you can barrow against or covert into cash by selling the house.
STABLE HOUSING PAYMENT
While rent typically increases year after year, mortgage payments can remain unchanged throughout the entire repayment period. You'r mortgage payment becomes even more affordable in the future when the cost-of-living has increased.
Houses typically increase in value over time. In a few years, your house may be worth way more than what you payed for it.
Homeowners get significant tax breaks and interest paid on a home mortgage is usually deductible. This can save you a substatntial amount each year in federal income taxes.