I don't own a house yet. At this moment in time renting seems more appropriate for me given the flexibility it offers. Owning a house is no piece of cake!
I love the legacy part and passing it down to future generations. It's a great experience to live at a place where one's great grand parents used to live.
Yes owning a house it's not an easy task. it's a commitment especially if it's specifically for living and not renting out to someone else.