Owning your own home means that you will be residing in one place for at least a couple of years. This creates stability for you and also the other family members.
Loan repayments are usually fixed at a set price each month. On the other hand, rental payments may increase from year to year!
As the owner of the property you are living in you are free to personalize your home as you wish without the need for permission or compromise. You are also free to make structural changes, if you so desire.
Buying a house is like having a monthly savings plan! At the end of it, you will own a valuable asset.
As an owner you are completely responsible for the maintenance of your home. This means that you have full control over maintenance and upkeep of the property. You are no more at the mercy of the landlord to get something fixed.