by While owning a home has long been associated with retirement security, renting can also offer numerous benefits. Here are seven reasons why renting a home in retirement can be a wise and rewarding choice: Flexibility in Location: Renting in retirement allows for greater flexibility in where you live. Without the long-term commitment of a.. (If you bought your home before Dec. 16, 2017, you can still deduct interest on a $1-million-or-less mortgage under the previous law.) Meanwhile, the property tax deduction is now capped at $10,000.
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Gutters cleaning. Snow removal. Appliance repairs. Major home systems repairs and maintenance. Pest control. If you’re renting in retirement, you won’t have to worry about any of that – your landlord will. You also don’t have to worry about a large part of your finances being tied up in one asset, which can be risky.. 7 Reasons to Rent a Home in Retirement. October 9, 2023 by Melissa Batai. Part of the American Dream is to buy a home, pay it off before retirement, and live in it until you’re no longer able to.
