Should You Rent or Own Your Home as a Retiree?

You reached your retirement age. Your children are grown up and they moved away to build their own lives. It’s not until this moment that you start to feel the emptiness and quietness of your space. Suddenly, the same home that used to be overcrowded just seems to much for you. Of course, as you age, fixing everything is harder and so is walking a lot from one room to another.

Statistics proved that baby boomers are currently the fastest growing group of renters. Of course, it doesn’t mean that living in rental is the right option for you as well – but it surely is something to consider.

Here are the main reasons why living in a rental could be beneficial for you as a retiree:

Home ownership isn’t always less expensive

You’ve probably heard many renters complain about how their monthly rental costs affect their income. Well, if you’re a homeowner (or have ever been one), you probably know that dealing with a mortgage isn’t any easier either.

Less maintenance = more free time

Sure enough, as a retiree you have more free time for your hobbies than at any other point in your life. Even so, it doesn’t mean that you should spend it on fixing things around the house, cutting the grass or trying to fix the furniture. As a rental, though, you have the benefit of choosing the right space for you – a space that doesn’t need as much maintenance.

You can go literally anywhere, anytime

You know what they say: the first time is usually the hardest. If you just move in a rental once, you’ll realize how easy it is to change your location depending on your preferences. Would you like to experience the Florida climate next month? No problem! Living in a rental gives you enough freedom to do whatever you want, wherever you want.

 

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