Home ownership has more advantages than leasing a home. Ownership became the “American Dream” because it gave people an opportunity to own a piece of property / community and provide the potential to build a financial “nest egg” with their equity. When interest rates began to climb, people looked to leasing as an alternate option than buying. Now that interest rates have dropped, many people consider buying, as their mortgage payments can be less than a lease payment. With many factors to consider: Tax credit from interest / property taxes paid, the expense of maintenance, current interest rates, credit score, area property values, and even how long you plan to remain in the area are all issues to be considered. While a Realtor can help answer some of your questions regarding the purchase, in the end, it is advisable, to consult a tax professional to determine truly your best option.