5 Advantages to Rent vs Own a Home in Retirement
ฝัง
- เผยแพร่เมื่อ 27 ก.พ. 2023
- Have more cash flow and a more flexible retirement when you rent
► Why home equity is not a good thing - it earns 0%
► The hidden cost of owning vs renting
► How to inflation-proof your income for rent increases
► Rents are 46% less than owning in many areas
► Enjoy fewer headaches and a more flexible care-free retirement
► Why the tax benefits of owning are much smaller (or non-existent) in retirement
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My home has been paid off for years. I could probably list it for $850,000.00. We pay $11,000.00 a year in property tax. We have gas, electric, water, cable, insurance. We found a place to rent $2800.00 a month. But we didn’t think renting was smart since our home has no mortgage. I just had to replace my air conditioner. $5,300.00.
We retired Dec. 2023.
Thanks for the video! I retired a year ago, after selling my home and a rental I had. I don’t regret a second having done so!
Great job! May I ask, what part of this decision has most surprised you (for the better)?
Just what the doctor ordered video for me anyway! Brilliant and clearly presented facts that have made me decide to rent and invest....it makes 100% sense!, thank you!😊
Glad it was useful!
Living in a condo, I pay almost $400 in HOA monthly fees. So that chunk of change can go towards my rent when I retire in 2 years.
you also do not pay property taxes as a renter and renters insurance is less expensive than homeowners insurance
Great tips. Most I had never considered and well worth considering. Thanks for putting this together.
Our pleasure!
Most people retire too early with no plan.
Unless you have money for repairs and upkeep, your home can quickly become a dump.
Taxes and home insurance also increase. There is no scenario that avoids change. With climate change, you may have some major repairs in your future.
Good point.
I really enjoyed your video and am concerned about the comment you made near the end. Where my wife and I live rent is about double out current mortgage. What do you think?
With rates so much higher today than when we created this, it does make sense to reconsider. I'd have to know more about your situation to make a recommendation.
i live in my fathers house which is sold and need to decide to rent or buy an apartment between now and 6 weeks ,if I buy I will spend half my money ,I am 72 ,I could live anywhere in the future even overseas ,but a permanent bass could be good
Sounds like you have a good approach.
@@retirementcrusaders I can buy an apartment for $250 K in a hotel rather than $450k as was thinking
I disagree with several points in this video; To each its own!! I retired and sold my home in an over inflated area relocated, took the profits, and purchased a smaller home cash !! No monthly payments, and it makes sense...🤔
Sounds like you failed to watch the video all the way through. We make that EXACT point. Please see me after class!
@retirementcrusaders Seems like you failed reading 📚 comprehension or understanding how to verbalize your own thoughts!! I wouldn't waste time seeing you after class or anywhere else. This video seems to be 👀 seeking self validation!! SMH
It really depends on person
I sold my house and get income to
Pay for 55 plus apartment with
No headache and great amenity and
The most important There’s always
Something to do somebody to talk
I don’t want to spend my retire time
Sitting on house alone and
What am I going to do today
and just wait for die
My mortgage payment is 1950. I can rent my house for twice that. Going to stay home
Sounds very reasonable all things being equal.