Infographic titled:

Rent or buy?
Think through where you want to live in retirement

A dark blue infographic features an illustration of a house with a coin symbol above the roof. The content compares three retirement housing options: renting, buying, and staying put.

Introductory text:

When it comes to choosing a place to retire, location definitely matters. But there are other factors to consider as well, like whether to rent or buy a home. Here are a few things to think through.

Section: RENTING

It’s common for retirees take advantage of the equity they’ve built in their current home and become renters.

BENEFITS

Flexibility to downsize or relocate
Less responsibility for home protection and maintenance
Liquidity to invest in potentially higher-growth assets

CONSIDERATIONS

You won’t be building equity
Rent is subject to potential change

Section: BUYING

If you’re planning to buy a new home, it’s easier to qualify for a mortgage while you’re still working.

BENEFITS

Stability of fixed costs on a fixed income
Equity can serve as inheritance or liquidity down the line
Tax deductions on mortgage interest paid

CONSIDERATIONS

Market value can fluctuate
You’re on the hook for all maintenance

Section: STAYING PUT

If you already own a home, paying it off and staying put is another option to consider.

BENEFITS

With no mortgage payment, you could parlay that cash into your investment portfolio and potentially generate an extra stream of variable income.

CONSIDERATIONS

You’ll still be on the hook for property taxes and maintenance costs, which could increase the older your home gets.

Closing statement:

A trusted financial advisor can help you weigh your options as you plan for retirement.

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