7 Reasons You Should Rent a Home in Retirement

PointImages / Shutterstock.com

Owning a home is a great way to build wealth over time, but some retirees find that becoming renters better suits their lifestyle and their bank account.

Homeownership carries many financial responsibilities. In addition to paying off a mortgage, you have to maintain homeowner insurance, pay property taxes and budget for ongoing maintenance.

Renting relieves you of those burdens. Your only concern is paying the rent.

What follows are several reasons retirees should consider becoming renters.

Read Next
New Ways to Save Money on Insurance of Every Kind
New Ways to Save Money on Insurance of Every Kind

Tech startups are making it easy to find the best rates for all kinds of insurance policies — and get covered fast.

30 Purchases That Will Start Saving You Money Immediately
30 Purchases That Will Start Saving You Money Immediately

Sometimes, you’ve got to spend to save. These canny deals are a good bet for savings.

7 Things You Should Do Before Claiming Social Security
7 Things You Should Do Before Claiming Social Security

To get the most out of your Social Security retirement benefits, you have to think ahead.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Comments

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Trending Stories