Having to make monthly payments becomes a form of forced savings. If you buy wisely, and your home is well maintained and in a good location, your home's value is likely to appreciate over time.
Homes also provide one of the best hedges against inflation.
You can remodel your home to suit your needs and tastes. You are unlikely to do the same for your rented home since improvements are at your expense but ultimately benefit the owner. Sense of community. Owning your home gives you a deeper sense of commitment to your community. Wanting to maintain property values, homeowners tend to take better care of their homes than renters.