Now that you’ve decided to stop punching a clock every day and the kids have (finally) moved out, it’s time for you to start enjoying your golden years. Sure, you could stay in that big house in the suburbs. Or you could downsize and enjoy some of the perks of renting. Intrigued? Below, we’ve shared a few reasons why empty nesters may want to rent rather than own during retirement, courtesy of Forbes magazine. Read up!
- More Money for Other Things: Rather than spending money every month on a mortgage, insurance, maintenance costs, and taxes, “dedicate your cash flow” to other things such as traveling or taking up a new hobby.
- Eliminates Upkeep: Apartments are generally smaller than homes which means there is less space to take care of and clean. Also repairs such as replacing a broken door or fixing a leaking sink are no longer your responsibility – they are the landlord’s. Also, home maintenance and remodels can be pricey and those charges fall on the homeowner. Renters don’t have to concern themselves with either one.
- Easier to Get Around: Single-story apartments mean no stairs, “which can be a good thing if you have limited mobility in retirement.”
- You Can Try Out New Places: Buying a home means you’re likely stuck in one area for an extended period of time. Renting, however, gives you a lot more flexibility and is a good way to determine if an area is right for you without a long-term commitment. Renting also “gives you the luxury of being able to travel the globe” without feeling like you are trapped in one place. Try out an apartment somewhere for a year. If you like it, stay. If not, take off for someplace new.
- You Can Follow Friends and Family: Renting an apartment allows you to follow your family, should they opt to live in another location. Being near them will give you peace of mind, “should you need their support or simply want their company.”
Find Apartments For Rent in Cincinnati, OH
Looking for a rental a bit more affordable in the Midwest? Rent It Today provides listings of available apartments, condos, houses, and townhomes for rent in the Cincinnati, Ohio area. To view a list of available rental units, visit www.rentittoday.com today!