There are so many benefits of having your own home, which are personal as well financial, like: You are an owner of the property. The satisfaction of a place you can call your own truly is priceless. You will reside in your own home.
It will give you a feel of independent and security. Your own home is a place to raise your family and be a part of your community. And it will also provide security for your children and grandchildren.
It can cost less than renting in long term.
Homeowners also have benefit of tax savings through income tax deductions on property taxes and mortgage interest. These tax savings partially reduce the actual cost of owning your home. Monthly payments will be fixed. If you opt for a fixed-rate of interest in home laon, you will have the same EMI payment.
Buying a home is a good long-term investment. House-owning generally provides steady returns unaffected by fluctuations in the stock market. You can build equity. House-Owning is the one of the greatest source of financial security and independence. You can expect to build equity as the value of your home appreciates gradually over time. Over the period, it is one of the best way to provide you equity & accumulation, long-term wealth and tax benefits.
You can make necessary alterations, according to your convenient and functionality, in the structure. Then after all these above quoted benefits, why rent if you can buy?