Along with the feeling of accomplishment and pride in ownership, there are very real financial benefits to owning real estate.
1. Cash Flow, either through rents or leveraging (borrowing against it)
2. Appreciation, when the property increases in market value Usually this is a Long Term benefit, over the period of years
3. Depreciation, when the property’s usefulness declines (with age) you are allowed to take that loss as a tax deduction.
4. Also Tax Deductible is the Interest you pay on your Mortgage
5. Improved Property Value, through improving the property’s condition through sweat equity.
6. Loan Paydown. Consider it a forced savings. By paying into your mortgage, you are gaining equity/financial ownership.