Advantages of homeownership in Bay City, Oregon:
1. Equity building: Owning a home can be a valuable investment because homeowners can build equity over time as they pay off their mortgage.

2. Stability: Homeownership offers stability as it provides a sense of community and a stable living situation where renters may be faced with routine lease renewals and potential rent increases.

3. Personalization: The ability to customize your property is a huge advantage of owning a home. Homeowners can make upgrades and renovations to customize the house to their liking, while renters are limited by what the landlord allows.

Disadvantages of homeownership in Bay City, Oregon:
1. Maintenance and upkeep: Homeowners are responsible for maintaining their home and property, which can be costly and time-consuming.

2. Higher upfront costs: The initial costs of owning a home can be higher than renting, such as down payment, closing costs, and other associated expenses.

3. Limited mobility: Homeowners may find it difficult to move if they need to relocate quickly. Selling a home can be a lengthy process that requires finding a buyer and going through the closing process, whereas renters can easily end their lease and move elsewhere.

It is important to weigh both the advantages and disadvantages before making a decision whether to buy or rent in Bay City, Oregon.