Retirement looks like freedom, you obviously would thirst for the time you never had during your public/private service work.
However, with respect to the subsequent emotional, mental and physical freedom, what pays better? An owned house or a rented house?
OWNED HOUSE OR A RENTED HOUSE?
The building or purchasing of a house comes with a lot of financial stress and responsibility. The burdens of securing or building a house, getting yourself fixed for some electricity securement, and a whole lot of similar stuff. To buy a house, see here where we buy houses Orlando.
WHY SHOULD YOU CONSIDER RENTING IN RETIREMENT?
Better Saving of Pensions:
Building a house comes with a lot of financial stress. Your pensions would definitely suffer the cost of building a house. It is believed that building or buying a house would definitely reduce your wealth, especially one that has been saved for retirement purposes.
When you rent a house, you stand a better chance of saving your pensions for some mild purposes, instead of going through the stress of paying property taxes and maintenance.
Access to a better environment:
You stand a better chance of getting a better environment especially the one you’ve always desired. You could choose to live in the midst of families and friends. It generally depends on when you desire to stay.
Also, on this, you could stay in a place that better suits your lifestyle or living conditions.
If you do not have a car, you could choose to stay in places closer to taxi accessibility. If you have an extremely social lifestyle, you could stay in hyperactive places.
You could even choose to leave the country. Places like Africa, Australia, Asia, America, or other parts of Europe will do. You might have read or heard stories of these places, this gives you a better chance and freedom to explore. And you could rent in all these places.
It is better than owning a house and abandoning it for tourism purposes.
Proximity to Children and Grandchildren:
As a retiree, you obviously would have children and grandchildren, if you choose not to be a celibate or a parent. You stand a better chance of accessing your children and grandchildren when you rent a house in places closer to them. It is obviously a joy to parenthood to see your children and grandchildren often.
Fewer Maintenance Duties as a House Owner:
Some agreements while renting involves less responsibility on household pieces of equipment. The landlord is responsible for these things. Such agreements are beneficial for you in your old age because you don’t have to run around, getting help in fixing and maintaining stuff in your house.
Less Financial Responsibilities:
As a house owner, financial responsibilities, especially property taxing heap on you. You also have to make sure you get your property insurance and these things are stressful!
You absolutely have no worries about these when you rent.
Fewer Home pieces of equipment:
If you’re a house owner, you would have worries about acquiring several home pieces of equipment, especially if you built the house yourself. These facilities are definitely available as a renter. You don’t have to purchase much.