While there are many advantages of owning a principal residence like potential tax deductibility of mortgage interest, property taxes and possible appreciation there can be disadvantages such as:
1. Difficulty and cost of moving to a new location.
2. Costs of home ownership such as repairs, taxes, insurance, landscaping, etc.
3. Possible loss of equity if the property declines in value.
Real estate is a long-term investment if you want to realize the potential advantages..