To rent or to own is one of the biggest decisions that retirees face. Recently, industry experts have observed a decline in the share of homeowners between the ages of 55 and 64, but that does not mean renting is necessarily the right option for you. In fact, the decision basically comes down to your own priorities. Check out our list of pros and cons of homeownership and renting when you retire to help make your decision a little easier.
According to a recent study, only 1 in 3 Americans has saved money for their retirement. It is not a financial strength for most, yet over 90 percent of respondents consider buying a home for retirement as an important goal to achieve. Luckily, there are many inexpensive places where you can buy a home for retirement today and make that dream a reality. Here’s the complete list.
Owning a home is one of the greatest investments you’ll make in your lifetime. Owning that home for a long period of time, however, may just ensure that you get the most out of your prior investment. According to a recent study by Urban Institute, leveraging the equity of your home at an older age can significantly grow your retirement funding, as retirees can then sell their homes for a profit or use their home equity line of credit to increase personal funds. After all, the housing market is one of the nation’s greatest investment arenas, making older American homes highly valuable assets in today’s market.