Before you sign your next lease here are five great reasons to buy a house.

Make sure you check out the video that I made going into great detail on these five great reasons to buy versus rent!

If you plan to be in the area for more than two years due to work or military contracts, you like a particular school district, or you just like the neighborhood that you live in, it may be in your best interest to buy over rent.

Buying makes more sense if you want to build equity overtime. This will allow you to be able to leverage the equity in the future for different things that you may want to do such as invest your money into other ventures and paying for your kids education.

It’s also a great way to save money in the form of tax deductions. Talk with a licensed accountant to make sure that you take full Advantage of the tax benefits of home ownership. You may be able to write off things like mortgage insurance as well as property taxes. In the long run this saves you a lot of money.

Another great reason to buy is if you want the feeling of stability. You will pay a fixed amount for the life of the loan unlike rent that increases yearly. You will not be forced to move if the landlord sells. It’s your house stay as long as you’d like.

One of the greatest reasons to buy over rent is the freedom to customize your living space. This gives you the opportunity to change paint colors without asking permission, you can knock down walls if you’d like. You can put in a pool. The options are limitless.