ATLANTA: More baby boomers are starting to return to renting after years of living in their own homes. According to data released today, renting increased for adults between ages 50 and 75 from 2004 to 2013.
So, why are boomers returning to renting? Here are a few reasons:
1. They’re ready to downsize.
For seniors, downsizing is a term that’s often associated with assisted living, but it’s not necessary to move into a retirement community to downsize from a large home to a smaller one with fewer possessions. More boomers are looking at renting as an easy first step to retirement living. Apartments make basic cleaning and maintenance a lot easier for anyone. Consider the difference between a two-bedroom apartment and a two-floor home – which one’s easier to sweep?