Over the past 20 years Canadians have decided that owning a home is a great financial investment. While owning a home has many advantages, there are also many reasons you may not want to own a home. The following is a short list of some of the main reasons for and against owning a home:
Pros -
- Sense of ownership
- Build equity in an asset rather than paying it all to someone else
- A house usually grows in value at, or above, the inflation rate
- Privacy
- Freedom to do what you want with the house for decorating and renovations
- Financial security for retirement
