There are many advantages to homeownership: A sound investment – When you carefully choose a home you can afford, the payoff can be great. As a homeowner, instead of paying rent to a landlord, each month when you make your mortgage payment, you are building equity in a place of your own. The more mortgage payments you make, the more equity you’ll have. And unlike most things you buy, a home can actually appreciate in value as time passes, building more equity. Tax advantages – The mortgage interest and real estate taxes you pay are tax deductible which can reduce your tax bill. Real estate is marketable. You can make your own decisions about design and décor. You can invest in upgrades that will not only bring you pleasure but can also add to the value of the property over time. You have control over the piece of property. You are not answering to a landlord.