There are numerous studies and discussion which proves that renting versus buying a house has its own benefit. Buying a house gives self assurance that there will be a roof above your head no matter you are earning or not. In case of rent, earning has to be continuous. With buying house once you purchase a house you cant do much if infrastructural issues exist. Or your workplace change happens. That is if you buy a house near your work-area may be business or job and then due to some reason when you need to move your business or change in job location happens then commute could be big issue. In case of renting you could find new house near by your new business or job location. Many thinks that purchasing a house is like dead investment. If you rent out a home then amount which you save from direct purchase or emi could be invested safely. This investment will yield great benefit if invested correctly.
For many House is basic need for living. Living in a rented house has its downdall, like moving from one property to another on yearly basis, keeping up with tantrum of landlord. Fear of being jobless could suddenly darken if there is no home. With permanent home at least you have some relief. However this situation may turn on its head if person is still paying EMI of house. In that condition, person is facing double threat one is possibility of loosing job which will affect payment of upcoming EMI. this in turn poses a threat of losing a house and EMI paid so far.

Buying home or house is beneficial only when there is no loan on it.