Owning Vs. Renting Think about your monthly payments on your home as rent. This makes it easier to pay off your home. Every time that you make a payment on your mortgage, this increases the equity on your home.When you buy your new home it is yours, you have the advantage of painting wherever you want, and you can remodel any way you like. You will no longer have any landlords as we all love them... 06-05-2009 Tags landlords, mortgage, painting, renting