Why Own A Home?

Owning a home can be a wonderful investment for many reasons. Equity, stability, and independence are just a few.

If you already own a home, your home has probably increased substantially in value since you bought it. For many, building equity is reason enough to purchase a home. While renting sometimes has its advantages, owning a home offers the peace of mind that your finances are invested in a future you can, to some degree, control.

But aside from equity, there are many other benefits to owning a home:

Community Stability: When you own a home, you put down deeper roots into the neighborhood community. There is a sense of stability and of "community investment" that comes with owning a home.

Security Against Inflation: As prices rise, so does the value of your home, giving you a check against inflation. In past decades it's been rare to see the value of real estate decline. The same certainly can't be said about the stock market, or interest rates paid by banks on savings accounts or certificates of deposit.

Freedom: Greater independence comes with owning a home. You have the freedom to paint , make home improvements, and landscape. As long as you are within the law and any covenants your neighborhood may have in place, you have flexibility to do as you wish to increase the value - and livability - of your home.

NEXT: Selecting The Right Agent.