I was wondering if anyone else plans to or has sold their primary residence with the intention of renting simply because renting give you a little more freedom and fewer headaches. I know there are pros and cons to both and with renting...Yes... you could have noisy neighbors but that is also true with condo or single family home living.
It's just that as my wife and I approach 60; we are getting tired of all the little repairs, remodeling; appliances breaking down; this and that with some "new" problem appearing frequently. We have enjoyed home ownership for some 32 years now, but want to travel a bit more in our 60"s while our health holds out. Plus the day will probably come when one of both of us will need assisted living/nursing home/ memory care and the transition will be far easier on us and our children if we live in an apartment.
I realize we could be living in an apartment for 20+ years with no additional equity build up ( pertaining to real estate not our investments) , but so what? Our NW is north of $5M and we would like a 2BR, 2 bath unit which in our area currently go for about $1750/ month. Perfect for 2 people. These are large apartment complexes with 24/7 on call manager/maintenance services and usually a pool, tennis courts/ clubhouse and impeccably manicured lawns/shrubs.
Plus some expenses go away such as property taxes, homeowner's insurance, heat (usually included with rent), landscaper, repairs, etc.
Also, these days even though I try to do some repairs myself; it seems that when calling an expert....even as a repeat good customer...I will wait days for a return call. They all seem so busy with more business than they can handle.
So....anyone sold the house or even condo and currently renting? How do you like it? Regrets?
It's just that as my wife and I approach 60; we are getting tired of all the little repairs, remodeling; appliances breaking down; this and that with some "new" problem appearing frequently. We have enjoyed home ownership for some 32 years now, but want to travel a bit more in our 60"s while our health holds out. Plus the day will probably come when one of both of us will need assisted living/nursing home/ memory care and the transition will be far easier on us and our children if we live in an apartment.
I realize we could be living in an apartment for 20+ years with no additional equity build up ( pertaining to real estate not our investments) , but so what? Our NW is north of $5M and we would like a 2BR, 2 bath unit which in our area currently go for about $1750/ month. Perfect for 2 people. These are large apartment complexes with 24/7 on call manager/maintenance services and usually a pool, tennis courts/ clubhouse and impeccably manicured lawns/shrubs.
Plus some expenses go away such as property taxes, homeowner's insurance, heat (usually included with rent), landscaper, repairs, etc.
Also, these days even though I try to do some repairs myself; it seems that when calling an expert....even as a repeat good customer...I will wait days for a return call. They all seem so busy with more business than they can handle.
So....anyone sold the house or even condo and currently renting? How do you like it? Regrets?