Here are the advantages of owning your home: Stability. When you take out a mortgage, you know what your payments will be for years to come. There’s no landlord to change the rules, and you don’t need to worry about being kicked out at a moment’s notice. Equity. As you make your mortgage payments, and as the property’s value increases, you build equity, which is the difference between what you owe on your house and what you could sell it for. In other words, it’s how much value you have stored in your home. For example, if your house is worth $225,000 and you owe $175,000, you’ve got $50,000
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