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Much pride comes with the ability to have a home of your own. However, the other side effects of home ownership may weigh more heavily on your choice whether to rent or own.

Equity:
Owning a home lets you build equity with every single payment you make on time. As a matter of fact, this can be looked at like a savings program.

Tax Relief:
In addition to building equity, owning a home also helps out during tax time as both real estate taxes and mortgage interest can be deducted from federal and sometimes state income taxes.

Smart Investment:
Some people like the stock market, some people like their Certificates of Deposit. However, many analysts agree that land and home is a more solid investment option. In addition, the increased value of your home allows you to acquire lower interest on loans for any reason by borrowing against your home's equity. (See home equity loan.)

Owning a home is not right for everyone, but these benefits deem it worth every renter's time to consider.