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[granddi]

This is a tough discussion bc there are so many variables, lots of opinions and stories. I'll share. 

We are 70 yo and heathy. We lived 40+ years in a rural town but our children settled 5 and 8 hours away. The decision was between stay in our life long home and around friends or relocate to be nearer to family and make new friends.

Next decision was stand alone home, 55 over community, Senior Living (independent living with transition to other care), standard rental. Since my husband is an avid golfer, we liked the golf communities. We had a sense that 55 yo's don't exactly crave the social contact with 70+ yo's. 

The Senior Living complex was beautiful. The lady told us that the ave age for admittance was about 80. 

It took us 2 years to find an 80's ranch single story. It had not been well kept compared to how we kept our life long home. We are constantly doing up keep like yard but major things like HVAC. My husband likes the outdoor space of the garage and just room for all our stuff.

Several things that we had not planned on was the crime rate in metro areas vs rural areas. We have less feeling of safety in our new home.

We know that the next move will be extreme and hope it will be on our own terms and not forced due to illness or other. 

Making new friend groups has been harder that we expected. 

Healthy 70 yo's just are too young to be old and too old to be young. One thing about group settings is the potential for social experiences.

Maybe just take your time in your rental and explore your options. 

Good luck to you.

[RealtyGal2]

Interest rates are REALLY LOW right now and it is possible that even a home with a higher price than you are comfortable with may cost you less per month than renting, and you will benefit from the appreciation. Also, if you buy you won't need to worry about a landlord raising your rent and you can write off the interest on your mortgage on your taxes.. Just something to think about.

[software]

That's only part of the truth.    Anytime house prices are inflated there's a good chance housing values will fall eventually in the future.   Your equity shrinks.

People shop by monthly payment.    If you can afford $2k a month, with a low interest rate, then you can buy a house with a big  pricetag.   But if those interest rates start to rise, people can no longer afford those expensive homes, then the home values drop. If you can sell a $300k house in a day in this market won't be touched the day the interest rates go up.

It's good to buy with interest rates low however when home prices are inflated, you risk losing your equity or even being upside down. 

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@RealtyGal2 wrote:

Interest rates are REALLY LOW right now and it is possible that even a home with a higher price than you are comfortable with may cost you less per month than renting, and you will benefit from the appreciation. Also, if you buy you won't need to worry about a landlord raising your rent and you can write off the interest on your mortgage on your taxes.. Just something to think about.

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[wagirl]

@Witchy Woman ---thank you for your kind words--yes, aside from dealing with breast cancer 9 years ago and almost being killed by falling tree that landed on the room I was in in 2018--I have to say this last year has been the most devastating---yep-- gonna wash that man right outta my hair!!!

[chrystaltree]

I think at your age, many people sell their homes an rent because they don't want to be responsible for repairs and maintence of a home.  They don't want to pay property taxes, water & sewage taxes.  I have known many people who decide to rent in their senior years.  One couple we know wanted all of that but they also wanted to help out with college tuition for their two grandsons.  We have town houses in this area, with a town house you get a the feel of a home with a small lawn, a yard and privacy.  There's no right or wrong but you and your husband obviously have to be on the same page.  You have to do more than talk about how you "feel" about renting.  Use your words as I tell my grandchildren.  Write down what it is that you don't like about renting.  Write down what you want in a home. Then you can have a real discussion with him.   

[AuntG]

No easy answers, but if it doesn't feel right, I think you should look for a home. I saw a 1500 square foot condo that I'd consider. It's one that stands alone as a separate house so it's basically a house in a subdivision. The only difference is that with just two bedrooms, the community is largely seniors. Also, someone else handles maintenance! Remember, rent inevitably goes up so a house might be a better value.

[vickiegaye]

Renting forever update..

Thanks for all the responses to my dilemma from last 5/2021. I appreciated all of the comments.

We are now in 2022 & just re-signed a new lease on our apartment. I wish I could say I am happier, but that hasn't happened. Everyone we have met here is very nice & mostly friendly, but seems to be a different kind of friendships. I have gotten involved with 2 weekly groups & my husband goes to the gym here 4-5 days a week, but it seems like men aren't the social beings women are..he sees men at the gym, then says hello, goodbye, have a good day, that's it!  
The best part of the move is being close to our kids & seeing them much more often than we did when we lived 100 miles from them. 
We live in a college town that happens to be the state capital, so everything pretty much revolves around that. 

Housing prices, if anything, are higher than when we moved here. Cottage-type bungalows are in the $500k range, so not interested in that. 
So, unless something wonderful falls into our laps, we are here for another 18 months!  😊

[GingerPeach]

@vickiegaye 

I believe in @AuntG 's comments about paying attention to how it feels.

Eighteen months will pass quickly.

If I were you, I'd be checking on a real estate site fairly regularly, or even casually with an agent.

I'm partial to realtor dot com because I think their site is the easiest to navigate.

All the best with whatever direction you decide.

[Katcat1]

@vickiegaye   Go with your gut feeling.  Sit down with your husband and go over the pros and cons on rental vs. buying.  You will make the right decision.

[CANDLEQUEEN]

My sister and her late husband owned a home for most of their married life in New Jersey.....When they retired, they decided to move back to the Midwest to be near our parents...They also decided to rent until they knew for sure exactly where they would live...

They found a great single family home, with a nice fenced in yard and were very happy. Move ahead 3 years and my sister's husband was diagnosed with Cancer, incurable stomach cancer, he passed away 2 years ago. They had no children. My sister is still renting the home.

She said it is more affordable than owning and for her, someone else does the maintenance. The only thing she has to worry about is the lawn care and she uses a service for that, but that is out of her own pocket...She said there are definite advantages to both, but right now she is happy just to rent..

If she decided to buy again, she said it would definitely be a townhome or a condo where she wouldnt have any maintenance to worry about~!

Right now all she to worry about is her rent increases which luckily for her have been very minimal....