Downsize, Rent, or Sell? A Guide for Seniors Deciding What’s Next
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Downsize, Rent, or Sell? A Guide for Seniors Deciding What’s Next
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About this listen
This podcast is a discussion based on a recent blog article that is a guide for seniors who may be at (or nearing) a financial and personal crossroads: Deciding whether to downsize, sell, or rent their current home during retirement.
Keeping and RENTING an existing home can generate steady, tax-advantaged supplemental income and preserve equity through appreciation. It outlines four main arguments for renting: steady income, continuous equity growth, significant tax deductions, and flexibility for legacy planning.
However, the article and this podcast also presents reasons why SELLING might be a better option, such as avoiding property management hassles or needing an immediate large cash infusion.
Finally, the guide emphasizes the necessity of due diligence, including checking HOA rules, local regulations, and securing proper insurance, before committing to a rental strategy.
You can read the original blog article here