I still own my first house which is in a bigger city, close to my hometown. I've been renting it out for the last few years but I plan to move further north, or west, or northwest---somewhere else....and keep the house as a second home/ possible retirement home.
I currently live in a destination area of FL and though I'm clawing at my eyeballs to leave because I've lived here my entire life, I recognize the benefit of having a place close to family and my roots, and somewhere warm to escape to since I plan on living somewhere with spring like temps during the summer, but blistering winters that I'm sure I'd want to escape from.
I like knowing I'll always have this house because it's fun to make plans about additions and renovations and I'm planting trees in the yard as well (it's a big yard), and establishing a garden and landscape that will take many years to grow into. I've already renovated the house and worked on it myself as well, and I know its history well. I just like the idea of being a part of something with a lot of personal history. As I get older I get more nostalgic, and I know this is a house that will remain a home, even while I'm not there, and its significance will only grow as I grow older.
So...not a financial reason, but there are other reasons to consider rather than just financial, at least if sentiment is important to you.