In the United States, buying a home is the fastest way to build wealth. Once you own your home, it builds up equity, or value you can borrow to pay for things like education, starting a business or unexpected events (sickness, unemployment).

Owning a home has many benefits that you can’t get from renting. But it also comes with more responsibility, like taking care of maintenance, dealing with long-term neighbors and committing to stay in one place.

If you buy, you can expect these benefits:

• Pay the same base amount every month. If you choose a fixed-rate mortgage, your mortgage payments won’t go up, even over the course of 30 years. (although real estate interest can go up) However, rent can be increased by your landlord, and if you move, you may have trouble finding low-cost rent.

• Pay less in taxes. You can pay less in taxes if you are paying a mortgage or property taxes. The government lets you subtract the interest you pay on your home from your yearly taxes.

• You build a good investment. If you own a home, you will be able to pay for unexpected emergencies that come your way. Owning a home is the best way to have financial security.

• It’s yours at the end! Best of all, you’ll have a place that belongs to you. You will have a place to raise your family, become part of the community and even pass that home down to children, giving security to the generations to come.