Seeing that we have been in our new house for almost 2 months now, we have seen both the good and the bad about owning a house. (I'm not sure if I can say that we own it, seeing that the bank really owns most of it.)
Here's some of the downsides: Our furnace stopped working a while back. Our backyard has more weeds than grass. We have a raccoon that our friend AnnMarie is convinced is going to burn down our house. Bee's have built a beehive in our bedroom window. The worst part of all is that there is no landlord to call and fix these things!
However, all and all it is great having a house. Expensive, but great!