From Renter to Homeowner

If you're a renter, even one who is just a few years from retirement, it's not too late to buy a home, particularly if you intend to stay in your current locale indefinitely. While owning a home will probably be more expensive than renting, even after the tax savings from mortgage interest and property tax deductions are considered, home ownership provides you with more stability since you would no longer be subject to the landlord's whims. Home ownership also affords you the opportunity to build equity in your home which could come in handy in late life should you need to tap into the equity through, for example, a reverse mortgage.