The relationship to your lender is very similar to a renter’s relationship to their landlord

Is it though? Landlords typically have hot opinions on what you do with the property. Banks don’t care so long as you don’t literally destroy it. When I rented I felt stifled in things like modifying my place, adopting a dog, painting walls, etc. Owning my place feels a lot better even if it costs a lot more.

I get what you say kind of from a financial sense but even then it’s radically different. You can pay extra every month to get a mortgage finished early. Each year you get more and more equity and are in a better financial spot. When a lease renews your landlord has the option to say “I want more money, so you have to pay extra now” or just straight up refuse to let you live there anymore, and at the end you have nothing. And a foreclosure is a much lengthier process with more outs for a homeowner than an eviction is for a renter.