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Which is Better: To Rent or to Own?

The question of whether to rent a space (such as apartment) or own the place where you live has always been one of the most common questions when it comes to having one's space.
The thing is though, both options have their own respective pros and cons, so everything, in the end, really depends on your personal need and preference.
If you want free rein to do anything you want without being answerable to anybody, then owning your own home is the thing for you. Owning a home, for one, is very different than just renting, as the feeling of ownership can only be felt if the space is truly yours. This is also the best option if you are not planning on moving any time soon and more or less are content to settle where you are in. However, when it comes to owning a home, you will have all the responsibilities on your shoulders.
Renting is a lighter burden, but you really don't have as much freedom as you would if you owned the place. Everything has to be coursed first through the owner / landlord before anything major can proceed. This is the way to go though, if you are only staying in the place you are in for a couple of months or just a few years.