Is it time for you to get out of the rent race and buy a home of your own? There are plenty of advantages to homeownership. And while buying isn't right for every person or for every life stage or circumstance, there are several perks of homeownership that tend to stay stable over time. These include building long-term equity, the comfort and pride that can be associated with owning your own home and, of course, lower overall monthly cost.

The U.S. homeownership rate soared to an almost 12-year high in the second quarter as low interest rates allowed more Americans to qualify for mortgages. The homeownership rate jumped to 67.9%, the highest since 2008's third quarter, from 65.3% in the prior quarter, the Census Bureau said on July 28.

Homebuyers with growing families need a lot of storage space. Everyone expects interior rooms to be top-notch, but they don't expect the garage to be anything more than a large empty space. Maximizing that vast space with actual storage solutions keeps clutter out of the main living area, increasing the value of your home.