What Are the Pros and Cons of Buying a House?


Chances are you’ve heard many times that owning a home is the American dream. But is it really worth it? As with anything, there are advantages and disadvantages, and buying a house is no different.

If you’re contemplating homeownership, take a look at this list of the pros and cons of buying a house.

The Pros and Cons of Homeownership

If you’re thinking about becoming a first time homebuyer, consider these advantages first:

Increased Market Value

If you buy in a good market, the home you purchase could become more valuable over time. This is an advantage because if you sell it, you’ll get more for it than what you initially paid.


Unlike apartments, houses provide more privacy. Your neighbors aren’t as close, so you don’t have to worry about being disturbed by others.

Steady Monthly Mortgage

If you have a fixed-rate mortgage, it helps you to determine how much your living expenses will be long term. On the other hand, if you live in a rental, the property manager can increase the rent at any time.

Building Home Equity

When you’re considering the pros and cons of buying a house, add home equity into the equation. Equity is a huge perk that you won’t get as a renter.

Take a look at this great guide to learn more about a home equity line of credit.


Costly Maintenance Repairs

While buying a home might be cheaper monthly than renting, the cost of repairs greatly impacts the overall expenses. When you’re renting, you don’t have to worry about repair costs.

Upfront Fees

As a first time home buyer, you can expect to pay a lot upfront. You’ll need thousands of dollars for a down payment and other fees.


Another huge factor to consider when buying a house is the commitment. If you are someone who likes to travel or you’re not ready to settle in one place, homeownership might not be for you.

You can’t pick up and move as a homeowner like you can as a renter.

Property Taxes

Property taxes will definitely increase your overall cost. Even if you have an affordable mortgage premium, you have to factor in the added cost of property taxes.

Expensive Mortgage Payments

Depending on how much you put down upfront, your mortgage premium could cost more than rental payments. There are many factors that determine the price you’ll pay monthly for your mortgage. If you have an expensive home or you didn’t put a lot down, your mortgage premiums will far exceed rent.

The Pros and Cons of Buying a House: Choose Wisely

Weighing the pros and cons of buying a house makes the decision challenging. But whatever option you choose should be decided based on what’s best for you and your family. If homeownership doesn’t seem like a good fit, there’s nothing wrong with continuing to rent.

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About Author

LaDonna Dennis

LaDonna Dennis is the founder and creator of Mom Blog Society. She wears many hats. She is a Homemaker*Blogger*Crafter*Reader*Pinner*Friend*Animal Lover* Former writer of Frost Illustrated and, Cancer...SURVIVOR! LaDonna is happily married to the love of her life, the mother of 3 grown children and "Grams" to 3 grandchildren. She adores animals and has four furbabies: Makia ( a German Shepherd, whose mission in life is to be her attached to her hip) and Hachie, (an OCD Alaskan Malamute, and Akia (An Alaskan Malamute) who is just sweet as can be. And Sassy, a four-month-old German Shepherd who has quickly stolen her heart and become the most precious fur baby of all times. Aside from the humans in her life, LaDonna's fur babies are her world.

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