Quote:
Originally Posted by Pairadocs
It is ! I have never in my experience heard so many home owners who have long ago paid off their mortgages, tell me they are considering NOT purchasing their retirement homes, but intend to rent indefinitely. Many advantages true, however, seems like that would also present a lot of tax issues ? ? Would take a lot "pencil pushing" to come up with an accurate answer to which is the "best" financially !
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When you purchase a home you have tax issues in the form of property taxes and bond. No one is going to escape taxes. Renting is not for everyone but it does have many advantages when interest rates are high. Our social security checks pay for all of our expenses. We have not had to spend a dime of our savings and it is earning great interest. Not likely home prices are going to surge anytime soon. If they do, we will simply buy a small home. We sold our larger home with a pool for a sizeable profit and downsizing has not been an issue for us. We are loving the maintenance-free life.