Older Americans Opt for Renting Over Homeownership to Avoid Maintenance Hassles
By
lxm
You can taste the rush. The dough hadn't risen.
Summary
Claire Kerr, a 64-year-old marketing manager, decided to sell her five-bedroom home and rent a smaller property in a 55-plus community to avoid the hassles of maintenance and repairs. This trend reflects a growing preference among older Americans to rent due to rising property taxes, insurance, and home-repair costs.
Key quotes
· 3 pulledClaire Kerr wanted to downsize from her five-bedroom, four-bathroom house after her children were grown.
Rather than buy something smaller, the 64-year-old marketing manager at 7-Eleven decided she was tired of maintenance and repairs.
Rising property tax, insurance and home-repair costs are prompting some people 55 and older to consider renting.
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