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:
2. They are looking for convenience.
In most cases, renting means a lot of maintenance issues are no longer your responsibility. The air conditioner isn’t working? Call the landlord or property manager. For seniors who’ve been responsible for house and property maintenance for years, having someone around who can fix a plumbing issue and mow the grass is a huge benefit of renting. Not only that, but some of the larger stresses that come with owning a home (like needing a new roof or hot water heater) aren’t even a concern for renters. In that way, it can be a huge relief to opt for convenience over stability.