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Homeownership versus apartment rental

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Many people are not familiar with the advantages of homeownership. What are some of the advantages of homeownership. Discuss the advantages of homeownership versus renting an apartment.

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The solution discusses what are some of the advantages of homeownership. The solution discusses the advantages of homeownership versus renting an apartment.

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Homeownership Advantages:

1) Build Equity
2) Value Appreciates
3) Freedoms to remodel, "make it your own"; landscaping, etc.
4) Tax advantages: deductions of property taxes and interest
5) No raises in rent, etc.
6) Borrow against the equity

Rental:
1) Little to no maintenance or upkeep
2) Payments lower in general
3) ...

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