You’ve always owned your home. But now you’re ready to leave behind the joys and hassles of owning property to become a renter. Join the crowd, lots of people who are downsizing and becoming renters.
Over the next decade, some 5 to 6 million downsizing boomers will sell their homes and sign rental leases, the National Association of Realtors says.
If you’re planning to rent a 2 bedroom apartment in Garner, NC, the transition isn’t that difficult. Here are tips from boomers who already relish renting:
Ask Permission to Make Changes
What if you want to paint or swap out the chandelier in the dining room?
One reason that renting is easier than owning for older adults is that they feel less compelled to make changes.
Take Care of What You Don’t Own
Taking pride in your rented space and treat it as if it were yours. This is a sign of respect for the property owner, for neighbors and for the place itself.
Home maintenance, as every homeowner knows, is never-ending. Fix the leak in the downstairs shower and the front stair banister goes wobbly. The new roof looks great, but too bad about that deep crack in the driveway. Stain and seal the deck. Not anymore, now home maintenance is a phone call away and somebody else’ job.
Count Your (Rented) Blessings
When you rent, you immediately are relieved of the stress that comes with owning a home. When the water heater starts dribbling on the laundry room floor, you call the landlord. When the kitchen faucet springs a leak, you call the landlord. When the building needs to be painted, the landlord deals with the painters — and then foots the bill.
You are no longer responsible for major repairs and the yard is taken care of. You may be surprised at how much you like that!
Other advantages to renting include:
- You can live in a neighborhood where home prices are above and beyond your budget.
- You have the freedom to move to a new neighborhood, a new city or even a new state.
- Your offspring will not have to sell your place when you’re gone.