When listing out the reasons why now is a good time to be buying a home, most of us would pretty easily come up with the following: Historically low interest rates make the cost of paying off a mortgage the lowest it has ever been, making owning cheaper than renting. The decline in the housing market over the last few years has created a situation where buyers, for the most part, hold the advantage, as values continue to drop and inventory expands. There are the tax advantages that come with owning your own home. Additionally, the accumulated wealth that comes with the equity appreciation, over time, can make owning your own home a sound long term investment.

These are the tangible reasons. But as is often the case, there are other, less obvious, but no less important reasons, and these are the intangibles of home ownership.

Chief among them is the pride that comes with owning your own home, that doesn’t come with renting. Not only are you making a financial commitment, but also a commitment to the community you live in. Often, the place where we buy our first home is the place we choose to put down roots and start a family. It is also a reflection that your local lender sees you as a person of financial dependability and trustworthiness.

In your own home, you are the boss. You can choose what colors to paint the walls, what flowers to plant in the garden, or whether or not you turn that old shed in the back yard to your painting studio, or a sleep out for when friends come to visit.

Often, it is these intangibles that are the real, meaningful reasons why people elect home ownership over renting.