20 Jul Reasons why renting is a good option to complement your retirement
The mayor reflection of economic stability is having our own home as well as being one of the greatest personal achievements. It may sound strange to think of people whose retirement is coming specifically to consider putting their home up for sale …
Yes, there are many factors to consider, but, when putting everything on the table, you can discover that the benefits are more than you might think, in addition to the money obtained that you do not consider once you sell your property!
Leaving an estate for your relatives may be one of the main reasons why you want to keep your home, however, most families would consider a more viable option if their parents chose to sell their home, this would benefit the older adult because they could be more financially support in addition to their savings and in the future would avoid conflicts between children by having to make decisions about what to do with the property.
There are many things to consider if your plan is to continue in your home, a very important one is mobility. A detail should be questioned, your house is it suitable for a person of your age? Remember that you must have the necessary adaptations to prevent falls and make mobility easier. Also if we consider that these adjustments can be easily made in your home, you should also consider the mobility to other places such as supermarkets, to medical consultations or to some involved entertainment place that could ask for help from a family member, therefore rent in some area where everything would be at your fingertips could even be a better option.
If you have ever had to rent a house, you will know that the maintenance of the place is the responsibility of the landlord, so it will be a great relief to forget about those home arrangements, especially in retirement when you want to use the money in things with more relevance for oneself, for example, using that money to plan the next vacation! And that is also an important point, renting offers us 2 great possibilities. First, if you plan to stay abroad for an extended period of time, you could go on vacation as soon as your lease ends, that way, you have a lower cost to worry about. And second, you could even rent a property at your dream destination instead of staying in a hotel.
The time may come when you will not be able to do your day-to-day activities as you used to, and you may want to search assisted living communities. In these I would get help in areas such as cooking, dressing or others. Many of these communities offer a wide range of services, so you can choose to get in and out of whatever suits your lifestyle without worrying about 24-hour care.
Ready to consider other options? Remember that retirement is a time to fully enjoy life and there should be no major worries. Places like CasaMar Senior Living are a wonderful option of care for the elderly or simply as a space to live if your lifestyle allows you to be independent. Learn more about us by taking a tour of our site!