Pride in Owning ~ Most people buy homes to have control over where they live. Although investment features are important, the psychological reasons for buying – the satisfaction of owning and freedom from paying rent – are at least as important.

A survey done by the National Association of REALTORS®, of 6,000 homeowners and 2,000 renters, showed that 76% of owners and 66% of renters considered pride of ownership an important reason for buying.

Dislike Paying Rent ~ Almost equal portions of owners and renters – close to 7 in 10 – said a dislike of paying rent was an important reason to buy. Renting offers a lifestyle that's nearly maintenance free. That may appeal to you, but consider that renting offers you no equity, no tax benefits, and no protection against regular rent increases. Writing a rent check is just like watching your hard earned money sail away!

Settling Down ~ More than 6 in 10 renters said "settling down" was an important reason to buy.

Good Investment ~ 76% of owners and 69% of renters said the investment aspect of ownership was important.

Tax Advantages ~ Property taxes and qualified home interests are deductible on schedule A, for itemized deductions.

Long-term Appreciation ~ People consider home ownership a good investment because they view it as a long-term venture. Historically, home prices have risen at relatively steady rates. Existing home prices rose an average of 4% per year between 1980 and 1992.

Leverage Investment ~ People borrow a great deal to buy a home, yet they receive the full benefits of price appreciation. In the long run, investments in homes far outpace inflation.

Source of Savings ~ Home ownership always has and continues to comprise the single largest source of savings for American households. Homeowners build equity and can borrow against it.

Sacrifices Are Worth It ~ Almost 7 to 10 renters in the NAR home ownership survey said they planned to buy a home in the future. More than three-quarters of these people said they were willing to sacrifice to do that.