When you own a home, the possibilities are limitless. It’s YOURS! You can do whatever you desire to make your new house a home. When you rent however, the options are very limited. Want to knock down that wall in the kitchen to create a more open floor plan? Or paint the living room that perfect shade of green? Don’t even think about it! Without the landlord’s permission you can’t do anything. Want to bring Brownie your beloved chocolate lab with you when you move? Be sure to find a place that allows them. When you own though, you can have as many pets as you want! Looking forward to your tax return? When you own a home, you can claim more tax breaks. A big one being deducting the interest paid on your mortgage.
Another limit renters have is less stability. You can only live within the terms of your lease and you can be forced out at any time. When you own, as long as you pay your taxes and your mortgage, you can stay right where you are and you will always have a place to call home. Another plus to owning is equity. Over time your property will appreciate which is a great asset. If you ever sell your house, not only will you get paid the total equity you have, but you can use that as a down payment on your next house thus cutting down on the amount you have to borrow.
In summation, renting does not gain you anything. Yes you have a roof over your head for the time being but you never truly have a place to call yours. Stop renting and start owning!