Buying vs. renting a home is a big decision that takes careful consideration. Although there are many costs and responsibilities associated with home ownership, the rewards can be significant. Look at it this way: If you are paying $1,000 per month for an apartment, and your rent increases 5% every year, over the next five years alone you will pay your landlord over $66,000! Through home ownership you can minimize this huge expense by building equity and benefiting from the tax advantages of home ownership. In fact, depending on your tax bracket, the net monthly cost of owning a home can, in some cases, be less expensive than renting. Even in today's uncertain mortgage market there are still many loan programs available, including low down payment mortgages. Housing is an expense that takes a big bite out of the monthly budget. If you are a renter you may want to consider the advantages of purchasing real estate. Home ownership is an achievement that offers a sense of pride, financial stability and tax advantages.