Of course over all it is included in the rent, but it is spread out over long periods of time in small doses. That is important when one is on a low fixed income. One doesn't have to replace Central Air conditioners, Refrigerator, Stoves, Roofs or other expensive items constantly. Most will last a long time, but they can shatter your budget when they do. I don't have to come up with $1500.00 for a large kitchen appliance or go out and find one.
One of the big things that no younger person thinks about, I know I didn't, is that there are no guarantee's that we will stay healthy and able to be mobile as we age. But, if one is afflicted with debilitating illness who mows your lawn, who paints your house or seals your driveway, trims your hedges and so on. All services that cost extra and in real time, not spread out over lower equal monthly payments.
There are positives and negatives to renting or home ownership, but sometimes it is just easier. I realize the a lot of people are very attached emotionally to their home. In that sense I guess I am lucky, to me home is where I live and my memories are, at least for now, still firmly in my head. They don't require a special building to stay alive. No matter how much energy and ability one has today, doesn't mean the same thing will apply a month from now.
If one finds themselves alone in a house full of memories, it can be depressing. Even when I got divorced, in my early 50's, I remember sitting alone in my long time home, the place where we raised our children and 30 years of married life no longer were there, the echo's of the good times from the past where always haunting me. I would sit in my living room and almost hear the little footsteps of my girls, the laughter, the noise, the good and the bad but mostly the joy. When I moved to an apartment complex surrounded with people it was a healing experience. That is true, especially now that I live in Senior Housing. I am surrounded with people my age and still have a freedom got in my car and leave and return at will. If nothing else to spend time chatting with them or being alone instead of forced solitude. If we are lucky, old age comes to all of us and from what I can tell it takes us all by surprise, but aging requires more preparation then stashing away money. A whole lot of factors enter into the scenario that we didn't even slightly think about as we sped through life.