However, with the closing of your home, you have increased both your responsibilities and obligations. Commitment to finances. The purchase of a home is a commitment to personal financial security. Not only is it a commitment of your money now and for as long as you own your home, but it is also an investment, an asset that can grow in value. Commitment to family.
Home ownership allows people greater control and responsibility over their living environment.
Perhaps for the first time in your life you can make decisions about the colors of the walls and carpet, kind of window treatments, or even if you want to knock out a wall and enlarge a room. Home ownership allows you to express your values and tastes. Commitment to community. Home ownership helps to stabilize neighborhoods and strengthen communities. When you own a home you have an incentive for maintaining and improving your property as well as the surrounding areas, such as your neighborhood or section of the city.