These days everyone wants to have their own home and it is pretty clear. There are people who can afford own home however we will speak about the majority of the people who are not capable of buying their own home.
Both of the cases if you are a tenant, you are paying rent or if you buy a home you will pay for the mortgage. The only difference is when you are paying the mortgage after a very long time the property will remain yours, but if you are paying for rent nothing will remain yours.
The big minus of the mortgage is that you are engaged with the bank for a long term period, that you have to pay a certain amount of money every month. If you miss one payment, then you can lose everything and even worse, you can still owe money to the bank. If you are paying rent the worst would be to end your tenancy agreement and go back to your parents.
When you are renting a property then you have a landlord with whom you shall collaborate. Often you can have issues for the different requirements that they have. If you want to have a pet first you must talk to him and see if he will let you have it. For everything, you will have to give information which at some point becomes very annoying.
The worst is that one person has a key to your property and you will never know what can happen.
The best thing with the mortgage is that you can do whatever you wish because the property is yours and you are the king of the castle.