Bestwifeever
Moderator Emeritus
- Joined
- Sep 17, 2007
- Messages
- 17,774
Rent vs. owning:
Pro rent: I have relatives in their early 70s who sold their home and now rent in retirement--the house sale proceeds are invested separately and earn enough to pay for their apartment. They have ltc policies and no children, hate yardwork, maintenance, etc. For them it makes both financial sense and emotional sense.
Pro owning: DH and I will likely build a small house in retirement on a piece of land we have on a small lake and will spend whatever we get for our current home on it. One of his hobbies is gardening and he will want to see his work progress over the years, God willing, and it makes sense to own the place he will be enjoying. We also see it as a place for our grown children to have (if they want). So for us it makes both financial and emotional sense to own now and in the future. And as someone whose family moved many times while I was growing up, it mattered a lot to me that our children lived in the same house (not putting a value on this for anyone else--our children probably wish we had moved a few times!).
So the rent vs. own issue is the same as the pay-off vs. carrry a mortgage--whatever works for you is best.
Pro rent: I have relatives in their early 70s who sold their home and now rent in retirement--the house sale proceeds are invested separately and earn enough to pay for their apartment. They have ltc policies and no children, hate yardwork, maintenance, etc. For them it makes both financial sense and emotional sense.
Pro owning: DH and I will likely build a small house in retirement on a piece of land we have on a small lake and will spend whatever we get for our current home on it. One of his hobbies is gardening and he will want to see his work progress over the years, God willing, and it makes sense to own the place he will be enjoying. We also see it as a place for our grown children to have (if they want). So for us it makes both financial and emotional sense to own now and in the future. And as someone whose family moved many times while I was growing up, it mattered a lot to me that our children lived in the same house (not putting a value on this for anyone else--our children probably wish we had moved a few times!).
So the rent vs. own issue is the same as the pay-off vs. carrry a mortgage--whatever works for you is best.