You may think it is easier to rent just because your landlord is responsible for the maintenance on your apartment. Honestly, that would be the only reason my clients have ever given me to rent. Here are a few reasons to purchase your own home.

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home. Remember too that other special tax deductions such as Energy Credits are also available to homeowners. You’ll actually save money.

2. Gains. Between 1998 and 2002, national home prices increased at an average of 5.4 percent annually. And while there’s no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORS^ found that a typical homeowner has approximately $50,000 of unrealized gain in a home.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your mortgage payments don’t go up over the years so your housing costs may actually decline as you own the home longer. You’ll never have to worry about your landlord raising your rent. However, keep in mind that property taxes and insurance costs will rise.

6. Freedom. Ever said “if this house was mine, I’d do this”? When you own a home, the home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home. You can make upgrades to save money on utilities, have pets, landscape your yard, etc.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

8. Security. You and your family will feel more secure in a home that BELONGS TO YOU. You won’t have to worry about being uprooted and you can modify your home in any fashion you desire to make it more secure.

9. Lifestyle. Homeowners are a different breed. When you live in a neighborhood or building that is owner-occupied, your neighbors, like you, are more willing to invest their time, money, and effort to improve their property value and Community.

10. Security For Retirement. Unlike rent, which goes on forever, mortgage payments are temporary, providing you with "rent free" living for your retirement.

11. Standing and Credit - Home ownership makes you a solid part of the community and gives you an established credit rating. Such a responsibility also develops self reliance, business acumen and an appreciation of financial independence.

12. Satisfaction - Home ownership offers special advantages that make life more enjoyable - backyard barbecues, large family gatherings during holidays, a home workshop, a chance to enjoy your family's companionship in the privacy of your own home.