Rent and Owning your own Home

There are many difference between renting and owning your own home. The most noticeable is the style of living. Renting,you make monthly payments and at the end of the year you have lost your money. By owning,you only make payments on the utilities,mortgage,and insurance and still own it at years end.
The main advantage to renting vs owning your own home is,you have fewer expenses;no taxes to pay,no major maintenance and no property insurance. The disavantage to renting is, you make monthly payments and at the end of the year you have nothing to show for it. You also need permission from the landlord before doing anything to the home,and if you miss too many payments,you're out.
Next,the advantage of owning your own home are;having independence,no landlords to deal with,and maintaning the place to suit your own tastes. The disadvantages are;more expenses,such as property taxes,insurance and monthly utilities. You are responsible for any mainteneace,and long-term commitment to the place.
There are all kind of situations that make one better than the other. If you are only in one place for a short period of time,then renting is the choic. You may not have the income to own your own place,or you may not want to be bothered with the responsibilities of owning a place just yet. With owning your own home you have a place you can call your own,and no one can change that. Also,you have a place to start a family.
As you can see there are many differences between renting and owning your own home. There are advantages and disadvantages too. Between making monthly rent payments and monthly mortgage payments,it's sometime difficult to decide what is the best choice. If you don't have the income to make payments on a mortgage then renting is your choice. If you have a large family and don't like the hassel of moving all the time then owning your place is the choice. Myself,I prefer to own my own place.