Dec 14 2017 49002 1

Dec 14 2017 49002 1

Should Boomers Buy or Rent after Selling?


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In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home.

“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent...

Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”

This makes sense in the short term for many reasons. If you are moving to a different part of town or a new region of the country, you may decide to rent until you pick the perfect home in an area you love. However, is renting a good long-term strategy? Image title

A mortgage payment remains fixed. Rents, however…

The Census Bureau recently released their 2017 third-quarter median rent numbers. Here is a graph showing rent increases from 1988 until today: 

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home instead of renting. Let’s get together so we can help you decide what the best step is for you and your family!



Linda Treadway Headshot
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Phone: 682-224-9848
Dated: December 14th 2017
Views: 128
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