The most important advantage in owning a home is the sense of freedom that you get. As opposed to just renting a property, you will have control over your property. You can live comfortably and make changes as you please without having to deal with the hassles of having a landlord approve any changes you wish to make. There are also a number of economic considerations. If a homeowner has secured a fixed-rate loan, they can make additional investments or purchases freely knowing that their monthly housing costs will not change substantially. In addition, buying a home serves as a long-term investment. You can build up equity as your home appreciates over time. Finally, the mortgage interest paid on loans and property tax paid are tax deductible.