Advantages:

1. Appreciation

1. Mortgage goes toward equity, rent is thrown away.  Rent never goes away, mortgages can be paid off

1. You can decorate, change and improve your home to suit your taste and increase its value

1. Sometimes cost of owning can be cheaper than renting

1. Tax Advantages

Disadvantages:

1. You may pay more per month than rent.  Also, you must pay for repairs and maintenance.

1. Do not count on getting a quick return on value

• Reduces flexibility in choosing a job or a new location you’d like to live |