Being a home owner has its pluses and its minuses. Renting has its pluses and its minuses. When you measure both there is not too much difference in total costs. Biggest plus for owning is once you get it paid for and you are retired and on near fixed income, normally the yearly cost to live in your house is less than renting. Renting in retirement without a good income takes too great of a percentage of your retirement income, but you don't have to worry about repairs or taxes . I was shocked 2 weeks ago, agent from the assessors office was by to see if property is the same as last year. He stated the state/county is in big need of money, taxes are going up big time.
Here's some food for thought: As a residential property owner I have a general tax levy at 1%. Add in all the other rediculous taxes and I pay about 1.25%. As the owner of personal property of a vessel, I'm taxed yearly 3%. What if I lived on that vessel and didn't own a home? Why do I have to pay more? What if it was cheaper to live on that vessel compared to living in a home I couldn't afford to pay for? Will I be given a break? Not a chance in hell.