Freedom and Individuality:

When you are renting, you are limited on what you can do to improve your place. Even if you are allowed to do certain types of improvement, and guess what? Your landlord will be the main person benefits from your sweet equity and money spent on the improvement.

If you own you own home, however, you are free to decorate and improve your place. And with the improvement, it might even add value to your home at time of selling.