I have previously written on the question of whether retirees should rent or own. Obviously this is a very fact specific and contextual issue. In some cases an important element of Retirement Prep is to own your home and in some cases not so much.
Retirees find financial freedom in renting after selling their homes https://t.co/MKuEs27IwJ via@torontostar – demand 4 good #Torontorentals
— Landlord Relief (@LandlordRelief) February 22, 2017
The above tweet references an interesting article by Tess Kalinowski of the Toronto Star.
The long term prognosis for rental real estate continues to be very very good. The article includes:
William Jack woke up in the middle of the night last month as he often does. This time, though, he rolled over and went back to sleep.
That’s when he knew that after more than two years of turmoil, he was finally home. The fact that the roof over his head belongs to someone else only added to his peace of mind.
William and his wife, Mary Taylor, are among a growing number of Toronto area downsizers, who are choosing to rent rather than buy a retirement nest. It is a choice, they say, that can be physically, mentally and financially liberating.