Owning your own home has trade-offs with renting or other arrangements.


The money put into buying results in the purchase of an item worth money, unlike renting where the money paid in rent is gone.

As an owner, you can make changes and improvements, subject to your budget, rather than the landlord's choice.

Property does not always go up in value, but generally does increase in value over the long term.

A property you own can serve as collateral for a loan.


Rented places usually have many restrictions on what changes or decorating the residents can do. If you decide you don't like the home or have other reasons to move, it is not always easy to sell.

A rental has a limited time commitment, but a purchase usually commits you to payments and taxes for the duration of the ownership.

As a renter you are usually not responsible for any major maintenance or upkeep beyond basic cleaning. For most rentals, the owner is responsible for the care and replacement of appliances that break.



  • U.S. Department of Housing and Urban Development (HUD) on Buying a Home
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