Owning a home can be a source of pride and stability. It's a place to call your own. It can be a sound long-term investment. But owning a home isn't always the best financial decision. You plan to live in a single location for a long time. You don't expect to live in the same location for more than three or four years. Local housing prices are too high above the national median. You want to lock in your housing costs (except for rises in home insurance and real estate taxes.) You can't afford to furnish, maintain and repair a house. Interest rates are low or dropping. You're a poor saver. Buying a home is an investment, so house payments are essentially a form of forced savings. You feel confident you can earn a higher return on your money elsewhere, and you will invest the money. You can save money in taxes. The higher your income, the greater the tax advantages in buying a home.