What would you say are the advantages and disadvantages of owning a home

Hi littlefranciscan! We own our home and I do agree with the disadvantages that you have just mentioned which are the taxes and the repair and maintenance that we have to manage. The advantage is I have something I can really call my own. Take care and have a nice day.

Primary advantage of owning a home is eventually the home will belong to the person who has been paying the mortgage. I can make changes within the house, put pictures on walls, paint various rooms different colors without being penalized when moving by losing the deposit. Like the privacy of a home vs. an apartment also. Can wash clothes at midnight and not disturb anyone. Have my own garage and driveway. And the list goes on! On the flip side of the coin when something needs to be repaired, it's our expense. That's not a regular problem as we do keep the appliances in good working order.

Pros - you can decorate the way you want you own something you gain equity you're not making a landlord rich you have pride of ownership you have your own little chunk of land for a garden. Cons - you have to shovel, and rake leaves things break, expensive things, like furnace, roof, etc. lots of maintenance more rooms, more cleaning

i would prefer owning a home. though it does have the disadvantages that you mention but at the long run it will be yours and you can passed it to your siblings or other family relative.