A new demographic developing among seniors includes people who want to rent instead of buying in active-adult communities. This shift allows them to take the equity in their homes and use it as a financial nest egg instead of tying it up in a new property.
Developers are capitalizing on this opportunity by offering apartments, villas, or single-family homes for rent in their active-adult communities.
The demand for homes in Arizona and Florida active-adult communities has pushed purchase prices higher. So those who have been priced out of them now have a more affordable option available with renting.
Moving forward, builders are offering homes that range in size from 1,300 square feet to as large as 2,600, with rents ranging from $2,600 to $3,500 per month. Renters don’t have to worry about utilities, maintenance, home insurance, or property taxes while enjoying the social and recreational amenities offered in these communities.
Council of Seniors Wants to Recover Your Money
Whether you rent or purchase a home during retirement, you deserve all of the money that’s entitled to you. You earned it. Here at Council of Seniors, we’re urging Congress to do what’s right and pass The SAVE Benefits Act. This legislation is necessary to make up for the Social Security cost of living adjustment (COLA) that was far too low over for years. Eligible seniors should be reimbursed about $581 if it passes.
You can sign our petition today and show politicians in Washington the growing support for this bill.
Does renting instead of owning appeal to you? Leave us a comment or send us a message to let us know.
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