1. Buying a home is less expensive than renting – looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear.
2. Homeownership is a form of forced savings.
3. Homeownership provides tax savings.
4. Homeownership allows you to lock in your monthly housing cost.
5. It’s an investment you can live in.
6. It increases your net worth.
7. You build your own wealth, not your landlord’s.
8. You have the freedom to customize your home any way you wish.