Here are some of the advantages to owning your home:

Financial security - Many people start on the road to financial freedom through home ownership. A home is an hedge against inflation: while rent usually goes up as the cost of living increases, your mortgage payment with a fixed rate loan will remain the same.

Investment - Every payment you make toward your mortgage loan means you are acquiring a valuable possession. Every dollar you spend to improve your investment adds to its value and enhances your quality of living as well as the value of your home.

Equity - Like money in the bank, your home can appreciate to keep pace with inflation.

Tax Advantages - Mortgage interest and property taxes are deductible from your income tax; check now how it applies to your situation with the Tax Benefits calculator.

Pride of ownership - Owning a home provides the opportunity to express yourself and to be in control of your living environment.

Community - Your children will grow up in the neighborhood that you choose.