Owning your own property is one of the top ten global dreams. You may never have perceived that the pros of owning a home and land are innumerable. But there is much more to ownership than just a piece of paper. Of course, here's a sense of pride, but property ownership is also instrumental in making a country and culture stronger. A society that encourages property ownership ensures stability and long term economic growth. The economic growth is not limited to the overall population. On owning a home, you have bought far more than a mere place to stay. You have invested in your future.

When you pay rent, you send your money off to someone else for the privilege of staying for another month where you are living currently. When you pay a mortgage, you also send money off to someone else, this time a bank. There's not much difference there. The real difference comes when you move, or when the house is paid off, whichever comes first. That's when you discover the true magic of home and property ownership. Of course, there are benefits before then. You can decorate and remodel as you like, without worrying about having to pay for it in the end with your security deposit.

Consider when you move out of the rented home. You pack up your bags and boxes, put them in the truck, and move into your new place. If you're lucky, you get some of your security deposit back after a month. Now consider when you move out of the home you own and into another home. Again, you pack and unpack, but you have something extra. You have money in the bank, and that's when the real benefit of home ownership hits you.

You have certainly put up a lot of money to erect your dreams in brick and mortar. But selling is not the only way out to get more money than you invested. There are low interest home equity loans and lines of credit by which you can access the money you are putting into your home while you still live there. However, when the time comes when you have finished paying off your home, you have achieved the much-cherished dream of living in your home without having to pay anything any longer.

A neighborhood where people own the homes they live in, are inadvertently safer and better maintained considering that People take pride in their homes. Conversely rental properties are run down and dilapidated, as the occupants have no investment stakes in them. When you own a house you have more than a house - you have a source of income and support and a wonderful place to call your own. Space is great but space that pays you back is priceless!