People buy homes because it’s important for them to have a place to put down roots. Home ownership gives them not only a sense of achievement but a sense that they are providing well for their family, giving them a safe and stable environment. People also see home ownership as an investment that can grow and create equity for their future.
On the other hand, people who choose to rent often do so for the flexibility and minimal responsibility it offers. Renting allows the freedom to move cities, states and even countries if and when required. Renters also have the flexibility to amass a large net worth by spreading their funds out over different types of investments instead of their money being tied up in one single purchase.
You need to consider the pros and cons of each to figure out whether renting or owning your own home is best for you.