You have probably heard the financial reasons for purchasing a home: Equity/wealth building, Tax advantages, No more rent increases, Not having to move after the lease term ends.
But, you may want to consider some other reasons:

Freedom to pursue other goals in life
You have finally achieved the major goal of homeownership. Strange as it sounds, many first-time buyers feel that once they have bought their house, other things in their life started to fall into place. It's as if not owning took so much of their mental energy that other goals were not worked on until that big goal was reached. They bought a home and got on with their life.

A greater sense of belonging to the community
Once you own a home, you feel more attached to the city in which you live. You're more interested in what happens in town, to the roads,schools,shopping areas. Some people even become involved in local politics-which you seldom see a renter do.

A commitment to something-A sense of stability
Home ownership is an anchor-something that cannot be pulled out from under you.You will never get a notice that you will have to move. Your kids will not have to change schools.It gives you freedom to plan years ahead.

You can change things-A feeling of being in control
It is your home. You can add to it, remodel it, change the landscaping, do whatever projects that you want. You have a feeling of being in control of something in your life. There are many things that we don't have control over, but your home is your castle that you have dominion over. You can see what you're building take shape before your eyes.

Children do better in school and feel more secure
Some buyers claim that their kids calmed down in school after they bought a house. Children need a sense of safety, security and belonging.

Time and money saved by not going to the Laudromat
A small point-but if you have kids, you know the value in this one. You will gain a whole evening a week! The wash gets done in between other things, or while you are at work.What would you do with an extra evening?