Home Ownership

Home ownership refers to owning a property, usually a house or apartment, rather than renting. When you buy a home, you gain legal rights to use and modify the property, and typically pay a mortgage loan over time. Ownership provides stability, potential investment growth, and the ability to customize your living space. It also involves responsibilities such as property taxes, maintenance, and insurance. Home ownership is often considered a key way to build wealth and establish a permanent residence, but it also requires careful financial planning and long-term commitment.