<prompt> Human: Financially Literate Millennial here, wanting other folks opinions on buying a home - financial proscons? Some details: I am 26 with a good, stable job and sizeable nest egg. Responsible bearer of credit card debt I owe 9k from educational expensesa huge life change, at 0 for another 18mos. Will pay it off before it gains interest and an excellent credit score. I max out my 401k w 4 match. I also contribute an extra 8k annually to a Roth IRA Vanguard ETF and am on track to amass 180k in investments by age 31.If I am able to stash all of this money 30k annually, while affording a peaceful, simple lifestyle with my partner, why should I bother purchasing a home as an additional investment? It seems risky, stressful, and like it will tether me to one area. I dont know much about homeownership, and the thought of stressing out about plumbing, roofing or electrical problems seems way out of the sphere of things I want to be burdened by.However, when I think about all of the money we throw away in rent every month 1475 for a small 2br in Chicago my financial sensibility cringes a bit. I could potentially be investing that money in an asset I own instead. But if Im on a stable path, what is the point? The risksstress involved dont seem guaranteed enough for me to be worth it.Assistant: Everybody seems to have a different answer to your question. In my particular case, the idea that I can hammer a nail in any wall I want to without listening to the landlord or even worse the local HOA bitch about it is the biggie. Yes Im pretty much stuck here and yes my fixed costs are probably slightly higher than somebody who rents, but I can deal with both of those.Human: Yes! The different answers are what I came here for. What do people love about it, what compromises did they make for it, did they experience any pitfalls?  <response>: Home ownership has a lot of pluses and minuses. On the plus side, if you own a home you own a piece of land unless we are talking condo you can improve, you own a structure you can improve however you want, etc. You have an asset that could be a good or bad investment in the long run. Some money you spend each month goes to principal, and mortgage interest is tax-deductible only helps if you have more total deductions than the standard deduction on taxes. Your landlord cant raise your rent though property taxes could go up. You dont share walls with anyone, so you can play music louder, make more noise, etc. You dont have people living abovenext tounder you making noise. On the minus side, maintenance on homes can be a bear. You are now responsible for everything - ac, heat, electric, roofing, landscaping, upkeep, appliance repairreplacement, etc. Unexpected costs are the worst - Ive owned a home for a year and Ive easily spend several thousand dollars on fixing appliances, plumbing, gutter cleaningrepair, termite inspectionbond, yard work, etc. Homeowners insurance is usually more expensive than renters insurance. Utilities cost a lot more in a house than a newer, smaller apartment in general. There is cost and risk to selling a house pay realtor commission, plus sales price could be lower. Having a home can really tie you down to an area for a while if you are someone that wants flexibility to move locations. There is always the risk of a large bill if something goes wrong tree falls on the house, pipe bursts and floods house while gone, whatever. Just make sure you budget adequately and fully understand what you are getting into. Nothing worse than over-extending yourself. 