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For many, aging may invoke a myriad of questions.

How long will I be able to remain in my own home? Will I be able to keep up with the maintenance of the property? Should I sell my house?


These questions can cause anxiety, not only for you, but for your loved ones as well. If you feel overwhelmed by decisions regarding your living situation, it’s time to pursue some answers… and some peace of mind.

Downsizing and renting may be appealing and beneficial to some retirees. It is an option worth exploring! There are several benefits to opting for a smaller house and renting:

  1. Most retirees crave flexibility. Many opt to move closer to their children and grandchildren or travel without concern for the upkeep of their house. Some become “snow-birds” and move south for the winter. Selling your home and choosing to rent can provide an opportunity to move somewhere new and kiss all of the duties associated with home ownership goodbye.
  2. Less maintenance and upkeep is a huge plus for many retirees. Maintaining a home and lawn become more challenging as we age. Some retirees opt to preemptively eliminate this problem by moving to a location where there is less space and property to manage. Renting an apartment can be particularly appealing, because there is no lawn to mow or tend to, no driveway to shovel, and the property maintenance is the responsibility of landlords.
  3. Downsizing can be a great way to be mindful of the future. When you downsize, you must sort through your possessions and decide which to bring with you and which to sell or donate. That is the perfect opportunity to consider your estate planning and to decide which of your heirs will inherit which possessions. Additionally, with the knowledge that aging is often associated with less mobility, many retirees opt for a smaller, one-level, handicap accessible home that will accommodate any future wheelchair use, walker use, or general decreased mobility.
  4. Renting can make estate planning simpler. With your house sold and the money from the sale in your bank or investment account, you don’t have to worry about which of your heirs is the recipient of your property. Instead, you can consider the money from the sale in your estate planning to divide equally between your heirs, invest it for the future, or funnel it into your charitable giving plan.

Landis Place on King can be the perfect option for retirees looking to rent or downsize in order to increase their flexibility, free up their time, simplify their estate planning, and enjoy less maintenance on their properties!

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