You Build Equity:
Other than the fact that you’ll have a permanent roof over your head and your family’s head, you also benefit from building equity. Most people love the fact that their equity is quickly raising as they pay they monthly mortgage. Also, when you own the home, if you add improvements, the equity will raise as well. Meaning you can improve your bathrooms, increase the value of your home, and increase the amount of money that property is worth.

Possible appreciation.
A home is likely to gain value, unlike most of the other major purchases in life, a home can gain value with time. If you bought a boat, electronics, or a car, they are going to lose value. If you maintain your home properly, it’ll be certain to gain value which means you’ll be able to make money on your initial investment when you sell the home.

Bigger credit options:
Once you start building equity on your home, you can benefit from borrowing from that equity. Home equity loans are simple to acquire if you have a good score and have plenty of equity to spare. Those loans can help you pay for bills, help purchase a second home, or for emergency cash.

Some tax breaks:
Yes, owning a home comes with alot of good tax breaks from the government. Although they do require you to pay some extra property taxes and taxes on your mortgage balance, luckily all these are tax deductible.

Personal control:
Owning your home gives you a greater amount of control in comparison to a rental home. For example, if you wanted to lower the amount of water or energy consumption to lower your utilities bill, owning a home gives you that option. Renting does not, because it’s usually a flat average fee per month included in the rental. You also get the option of improving the value and making repairs in your home that will improve your equity.

Pride of Ownership
Last but certainly not least, owning a home gives you the freedom to do as you please with it. You can decorate as you please, or tear down walls. If gives you pride of having a place where you and your family can come to after working.