If you're like most first-time home buyers, you've probably listened to friends', family's and coworkers' advice, many of whom are encouraging you to buy a home.   However, you may still wonder if buying a home is the right thing to do. Relax. Having reservations is normal. The more you know about why you should buy a home, the less scary the entire process will appear to you. Aside from all the other amenities of home buying, you can think of it as "forced savings" Here are eight good reasons why you should buy a home.

Home Prices
A housing market that favors buyers still exists across the U.S., and prices are at an all time low.  The housing market for buyers may never be better than now. Wait any longer and you could be missing out on an opportunity you may never see again.

Mortgage Rates
In January, the national average 30-year fixed rate dropped to 4.98%. Rates have risen since, but are still at historic lows. However, a number of things could cause rates to rise further – one being credit requirements, which are expected to tighten more. This doesn’t necessarily mean you won’t get a loan, only that your cost of ownership goes up.

Property Tax Deductions
The cost of property taxes are tax-deductible. Depending on your circumstances, thousands of dollars in taxes can be saved each year.

Mortgage Interest Deductions
Home ownership is a superb tax shelter and our tax rates favor homeowners. As long as your mortgage balance is smaller than the price of your home, mortgage interest and Private mortgage insurance is fully deductible on your tax return.

Appreciation
There are certainly no guarantees of property value appreciation. In the long-term, however, real estate valuations almost always increase. This means that when you decide to sell your home, its value may be significantly higher than when you purchased it. You can reinvest that appreciation in other real estate or you may wish to downsize and keep the value of that appreciation for retirement or other purposes.

Pride of Ownership
Pride of ownership is the number one reason why people yearn to own their home. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.

Borrowing Power
For owners who opt to stay put, equity still comes in handy. It can be used to secure a loan or obtain a line of credit, meaning more buying power to fund home improvements or to assist with the purchasing of investment property. Cash for emergencies or big-ticket items is also an option.

Energy Efficient
Up to 30% more energy-efficient than a typical 5 year-old manufactured home.  Compared with standard homes, ENERGY STAR qualified homes use substantially less energy for heating, cooling, and water heating-delivering $300 to $500 in annual savings. Over the average 7 to 8 years you may live in your home, this adds up to thousands of dollars saved on utility bills.