When I could afford it, I preferred owning my own airplane. It beats the heck out of jumping through a bunch of hoops when you want to fly. No scheduling, no airplane that smells like puke on a hot day, you know the mechanical condition.
When I could no longer afford it, it started sucking the fun out of the whole thing.
I can not say that I was all that happy when I sold it, but it did take a very large burden off of my shoulders.
If you can afford to do it, owning is the only way to go. If you have to carefully work it into your budget, and think you can pull it off, I think you would be better off renting or joining a club.
When things break or go bad on your airplane, it is not like owning a boat, you can not put it off until you have the money. Letting an airplane sit will usually bring on even more expensive problems.
If you are going to buy, make sure you have enough squirreled away for when things break, or you have a good line of credit.
If you have to think like that, rent.
-John