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Much pride comes with the ability to have a home of your own. However, the other side effects of home ownership may weigh more heavily on your choice whether to rent or own. 

Equity:
Owning a home lets you build equity with every single payment you make on time. As a matter of fact, this can be looked at like a savings program.

Tax Relief:
In addition to building equity, owning a home also helps out during tax time as both real estate taxes and mortgage interest can be deducted from federal and sometimes state income taxes.

Smart Investment:
Some people like the stock market, some people like their Certificates of Deposit. However, many analysts agree that land and home is a more solid investment option. In addition, the increased value of your home allows you to acquire lower interest on loans for any reason by borrowing against your home's equity. (See home equity loan.)

Owning a home is not right for everyone, but these benefits deem it worth every renter's time to consider. 

Tools

Glossary of Terms - To help with the understanding of specialized terms related to all sorts of financing that may be found throughout this site. Credit Card Minimum Payment Interest Calculator- This calculator will show you how much interest you will end up paying if you make only the minimum required payment on your credit card bill. It will also tell you how many minimum payments you will make before your balance is paid off. Loan Comparison Calculator- This calculator will help you to compare the total interest charges of up to four different loans at the same time! Car Cost Comparison Calculator- This calculator will not only help you to forecast the REAL COST of buying and owning a car, but it will also help you to more accurately compare the real cost of one car buying scenario with the real cost of a second car buying scenario. Mortgage Refinancing Calculator- This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs. Bi-Weekly Mortgage Calculator- This calculator will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month.