Buying a home in order to build equity is one of the main financial reasons prospective buyers jump into the market. Homeowners and prospective homeowners may look more closely at the costs and benefits of such a large transaction.

Yet while the sobering effects of the housing crisis may have prompted a more cautious approach by buyers who are more realistic about the level of equity they can build in their homes, the drive to be a homeowner remains strong. It’s mostly about FREEDOM: The ability to paint the walls whatever colour you want, or know that a landlord is not going to raise your rent or ask you to leave.