First and mostly, peace of mind, independence, and security. Financially, buying a home is saving all the rent, as well as owning an asset that most likely appreciates though time. Also, buying a home forms a financial warranty. This warranty helps when you need to borrow in the future.
For 20 years, the yearly rent gradually increases while the yearly installments remain the same.
Yearly rental is considered as 8% of home value. Home Finance Rate: 5.25% for a period of 20 years. Average yearly increase in rent is considered as 2.83%.
The figures used are approximate.