It's a solid plan, but I just know far too many people who do not want to deal with the hassle of renters. There are definitely other ways to get there, but I was mostly addressing the issue of buy vs rent. I still think that paying someone else's mortgage is a complete waste of money, but we can agree to disagree on that point ;)

I'm also working off of my parents experiences. One has a paid off home with a government retirement and is doing great. The other wasn't able to retire because of their house payment. I helped that one get into a reverse mortgage and they'll be able to retire now. They would not be able to tap into their equity if not for owning a home.

If either or both were still renting there'd be no way they could retire, especially with the cost of rent exploding in Utah.

The fact that your parents can sell (because they have equity) means they had options because they bought a home. They also might look into a reverse mortgage if they'd like to stay in their home and not have a house payment.