33 Reasons to become a homeowner

There are many studies that site benefits of homeownership, from higher self-worth to living in a safer neighborhood to your children doing better in school. Here are 33 reasons to become a homeowner- can you think of more?

  1. Gain a sense of accomplishment and control
  2. No landlord!
  3. You can rent out your home if you want
  4. You can rent a room or portion of the house for more income
  5. You can do any renovations you want (usually)
  6. You can have pets
  7. No one can enter your property without your consent
  8. You can’t be evicted
  9. You can create your dream house
  10. Paint the walls any color you want!
  11. No more making maintenance requests- you can fix it yourself!
  12. You won’t have to live in potentially unsafe environments (for example mold, radon)
  13. You can stay in one place for a lot longer
  14. You can plant roots
  15. Become a regular in the neighborhood
  16. Have a more active role in your community
  17. Educational continuity for your kids
  18. There is a correlation between homeownerships and children’s school performance
  19. Get to know your neighbors
  20. No rental increases
  21. Forced Savings
  22. Your monthly payments are helping you gain equity
  23. It can be cheaper in the long run than renting
  24. It increases your net worth
  25. Your house can appreciate over time
  26. You can deduct the mortgage interest payments (up to a point)
  27. You can deduct interest paid (up to a point)
  28. You can take out a second mortgage in an emergency
  29. You can take out a home equity line of credit
  30. You have more privacy
  31. You’ll have something to pass on to your children
  32. No loud neighbors
  33. Even in a shared building, condos are usually constructed with thicker walls than apartment buildings