To "own a home" means to have full ownership and possession of a residential property. It refers to being the legal owner of a house or an apartment, which one resides in and has the right to use, sell, rent out or mortgage as per their wishes. Owning a home is considered as a significant achievement and financial asset for many people, providing stability, security and independence. It also allows individuals to build equity over time, as they pay off their mortgage, which can be used later in life for other investments or expenses.