Renting has advantages, no property tax, something breaks you call the landlord. Downsizing also saves money....lower power bill, less to clean. Don't hold on to a house you cannot afford to upkeep, sell before it goes into disrepair and decreases in value. It is just a house, you can take the "home" with you,
I noticed that as I get older it feels like the yard has doubled in size, and the house feels like it more square footage than when I bout it :P That is now the signal that it is time for me to start thinking about downsizing.
The stress of property care is often a driving factor, so seniors sell the property and buy an income producing annuity to offset the cost of renting a nice unit in Independent Living. That might be a good option for you.
Perfect! Nothing wrong with that. Sell your house. Take the equity and use it to EITHER by a condo or townhouse (paying particular attention to the monthly fee for alllll maintenance), ORRRR rent an apartment where there IS no monthly fee, ORRRR, depending on your age? Look at assisted living.
Here in the Chicago area, family is at a place that's $1500 a month including three meals chosen daily from a menu in their restaurant-like lovely dining room; the ability to buy extra a la carte personal services as required, transportation, doctors visit the facility; podiatrists; they have a hair stylist available every week; a barber; excursions by bus to cool places; a card room; parties; entertainment. Sorta' like a cruise ship, as someone here said the other day.
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Downsizing also saves money....lower power bill, less to clean.
Don't hold on to a house you cannot afford to upkeep, sell before it goes into disrepair and decreases in value. It is just a house, you can take the "home" with you,
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Here in the Chicago area, family is at a place that's $1500 a month including three meals chosen daily from a menu in their restaurant-like lovely dining room; the ability to buy extra a la carte personal services as required, transportation, doctors visit the facility; podiatrists; they have a hair stylist available every week; a barber; excursions by bus to cool places; a card room; parties; entertainment. Sorta' like a cruise ship, as someone here said the other day.