Conversations with my senior clients often lead to the question of whether they should sell their home and rent, or just stay where they live now?
The answer may surprise you.
The majority of my senior clients tell me they would rather stay in their home rather than rent.The reasons are twofold:
They are already comfortable in their current homes and dread the thought of leaving the place where they have raised their families.
In most cases, my senior clients cannot find a place to rent that is less than or equal to what they are paying now and have the comforts of their current home.
There are over 70 million Americans boomers who were born between 1946-1964. The oldest of the boomers will be turning 65 this year. Nearly one-third of boomers have very little or no retirement savings. The largest asset that most boomers have is the money they have in the equity of their house, but you do have choices.
Perhaps a reverse mortgage would be the answer for you to stay in your home. However, we know your choices are very personal. If you would like, we would be happy to visit with you one on one see and assist you in appraising the right choices for you and your family.
Give me a call at 302-266-9500 and I will be happy to discuss alternatives with you and provide useful resources to help you with your decision of whether to stay in your home or rent.