This is a great question and I think the answer for me personally changes like the seasons.
When I was younger, renting a place made sense. It came with less responsibilities. I could/can easily travel; leaving for extended times is easier with the property being managed by someone else. With a busy schedule, there is less time to keep up maintaining a place of my own or it simply is not a priority.
Now it’s feeling like a new season as I venture into my thirties. I feel like having my own place to own and call home is more appealing. It takes more time and maintenance, but I’m at a point in life where simplicity sounds nice. Taking care of a home, and having my own place sounds rewarding, even though it will be lots of work. Having a place of my own to call home and not having to follow any rules (outside of an association), while inviting others over to my own space is something I’d enjoy. (Of course in my area, buying a home right now, is near impossible.)
I imagine as I grow older, the season will change once again. When I’m no longer able to focus on maintaining a home and it has become more of a burden than a joy, then it would be beneficial to sell and go back to renting (quite possibly).