Money-wise, you're no longer throwing it away on rent, but paying down a mortgage that eventually is paid off entirely.
On top of that, you're also no longer racing against the end of the rent contract, and can wait a bit - or move earlier - to find a new place you really like.
The turning point for me was, here in Chicago, when I was renting and my dad sent me some properties with the costs laid out: These places were significantly nicer, and the mortgage cost per month was ~60% what I was paying in rent.