You can argue that the most important part of the American Dream is the idea of owning your own home. While many consider it their "right" to own a home, the fact remains that it is still a privilege with the vast majority of people in the world not even having fresh running water. However, in the developed world we have the economic freedom to make it happen. In fact, we can have more than just a home - we can have our dream home.
The first and most important reason for owning your own home is simply to have a place called Home. A home is more than just a building. It's a place where you feel safe and a place that is yours. It reflects your personality and binds a family together. It's the sense of ownership that that really sets it apart from merely renting another old apartment.
From a financial point of view it simply is the smart thing to do. We've all heard the saying that rent money is dead money. Well, this is true and every cent you spend on paying rent is a cent that you will never see again. If you spend that money that you would have spent on rent towards your own home and paying off a mortgage, its something that grows in value and builds your own net worth.
Your home is one of the most valuable asset you will ever own and the sooner you start, the sooner you can benefit. Many people are scared of the idea of committing to a mortgage, but if you are smart and get the necessary advice it really is quite a safe investment with minimal risk.
Today, its easier than ever before to own your own home. With several first time home buyer programs run by the government, even if you fall into the lower income brackets y can still afford a mortgage. These programs are run by several agencies and help is available at both the federal and state level. There's a lot of information available on the internet and even your local bank will be able to point you in the right direction.
Having a place to call your own and building a the financial security for your family are two very strong reasons to motivate you to action. Owning a home need to be a dream. Make it a reality and get on the property ladder as soon as possible.
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