Skip to main content
Blog

Renting? Maybe a Better Choice for Some Retirees

By October 10, 2016February 26th, 2018No Comments

Buying a home is a great investment for a young couple or someone looking to see a long-term return, but is buying the best idea for retirees? What about selling your home and renting something that suits your needs better — an interesting idea and something you might want to consider.

Once you are ready to retire, the term “dream home” takes on a new light. Your needs have changed. You may not need or want the 2-story, 3-bedroom home with the white picket fence and expansive yard that they 20-something version of you dreamed of.  Downsizing and having less home to keep up with could be a really good thing — especially if you are now looking to travel more.

housing-concept_gj7di_vd

The other benefit to renting is not having to take care of all the maintenance yourself. An older couple might look to a rental for those benefits as well. Snow removal, lawn maintenance, simple home maintenance — these things don’t have to be a concern anymore. Plus, selling your home frees up a large sum of money which could be very helpful in the later years of life.

These should be the “golden years” and that will mean taking a look at your finances, investments and making changes that best suit your needs.

Take a look at this article by Mass Mutual Financial Group. 

Font Resize
Contrast