The moment you buy a home, you start a built-in savings account. The obligation to meet mortgage payments encourages a savings habit. Get a free ride with inflation. As inflation continues, you will be paying off your mortgage with less expensive dollars. Real estate taxes and interest charges on mortgages are tax deductible.
Home ownership gives the family a sense of security.
Home ownership offers a better variety of lifestyle choices. Residential housing stock is not as limited as rental housing stock. There are less restrictions on the use of your interior and exterior living areas. Your home equity may be used as security for future loans. Home ownership is a symbol of achievement.