When considering whether to buy or rent a home, there are many opinions out there. Some say that the bad housing market it reason enough not to buy, others say that it’s bad money management to rent. In reality, there are many advantages to buying a home and most of them have to do with a certain level of comfort and the satisfaction of being able to call a home “your home”.

Here are some reasons buying a home beats renting:

It’s Yours: There’s no need to worry about a landlord. Landlords are notorious for being less dependable and can decide to sell the property whenever they choose, without taking you or your family into consideration. You have much more control when you own your home.

Forced Savings: It’s true, home prices may fall further; but in the long run your home is likely to experience modest gains in value.

Fixed Rate Mortgages: This type of mortgage rate never rises; you will eventually pay them off. Mortgage rates are at record lows right now. If you buy you’re your taking advantage of locking in at very low rates!

Good Schools: Many family-sized rental homes are difficult to find in great school districts.

Great Neighborhoods: It is difficult to find large rental homes in attractive, well-planed communities.

Source: The New York Times, Ron Lieber (08/27/2010)