Homeownership has long been considered a hallmark of success. The starter home, the dream home and eventually the downsize home. But for a growing number of seniors, renting has become the preferred housing choice. This growing trend referred to by industry experts as the rent don’t buy revolution offers several benefits for 55+ adults who want to maximize their retirement years.
- Flexibility: Renting gives retirees the flexibility to move around without the hassle of owning a home. This can be especially helpful if you want to downsize, travel, or live in a warmer climate during the winter months.
- No maintenance costs: Renters don’t have to worry about maintenance costs associated with owning a home, such as repairs, upgrades, or landscaping. This can save retirees a lot of money and stress.
- Access to amenities: Many rental communities offer amenities such as fitness centers, swimming pools, and social events that can help retirees stay active and engaged.
- Lower living costs: Renting can be more affordable than owning, especially if you live in an expensive area. Renters don’t have to pay property taxes, homeowner’s insurance, or mortgage payments.
- Less financial risk: Renting eliminates the financial risk associated with owning a home. Renters don’t have to worry about fluctuations in the real estate market or unexpected repairs that could drain their savings.
It’s one more example of the changing landscape for today’s active adult. By choosing a lifestyle that’s fulfilling and carefree, the 55+ demographic is disrupting traditional models of senior living. While other segments of multifamily housing are under stress, the 55+ sector continues to grow. Edmond, Oklahoma’s premier rental community for 55+ active adults is Highland 55 at Spring Creek. The craftsman style cottages and vibrant social scene have resulted in a community continually in demand. Visit highland55.com to schedule a tour today! It’s LIFESTYLE REIMAGINED!