With all the talk of market swings and real estate trouble, it’s no surprise that today’s buyers are leery.

 Yet even when times are tough, there are a lot of reasons why it makes sense to live the American dream and own your own home.

Consider these:

1. Better Than Renting.

   Think about it: monthly rent payments may be just as high as a mortgage, yet you’ll never see them again. When you own your own home, you’re regularly increasing your equity in a property. Your dollars are going towards something that’s yours. Plus, while rents can increase every year, your mortgage can be locked at a specific rate, allowing you to maintain the same monthly payment over time. And, don’t forget, owning means you can do whatever you want to your property: paint the walls, redo the kitchen, change up the lighting fixtures!

2. Smart Investment.

   True, every year is a little different. But over time, median existing-home sale prices have increased an average 6.5% each year from 1972 through 2005 and 88.5% over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. Owning a home is a little like a savings plan: over time, your money will grow, while you reap the benefits of having a place to call home. It allows you to diversify your assets so that they’re not just in money markets or savings accounts, etc.

3. Tax breaks.

   Speaking of taxes, as a homeowner, you can deduct the interest you pay on your mortgage, your property taxes and some other costs involved in your property purchase. Plus, when you sell, you can take up to $250K as gain without owing taxes on it when you sell!