Downsizing on housing or renting

[Edgar]

Hello All:

My DW and I are appx 4.5 years away from retirement. Our only child is now away at college. We live in a house that is worth appx 250K. It has more than we need ie. 3.5 bath's, etc...

We could rent some very nice 2 BR/2BA aprtments in our area for APPX $950 a month.

By going with the rent option we could put the 250K to work for us, save appx 2600 @ year in property taxes plus all the other cost asscoiated with home ownership. We have never rented but we are not the type that like to work in the yard or garden so in a way this would relieve another burden from us.

Has anyone else on this board sold to rent for financial reasons? I undersytand the quality of life issue is in the likes and dislikes of the individual.

I would appreciate any thoughts on this...

Regards,

Edgar