Let’s explore senior living options: renting vs. ownership in senior housing. If you currently rent an apartment home or townhome month-to-month, you know the benefits of renting. However, if you’re a homeowner, in a buy-in senior model or are living in a cooperative, contemplating jumping ship, here are some reasons to consider as you weigh the pros and cons in the lifestyle you want to live.
Owning Your Options
Renting may make sense if you’re an empty nester, ready to downsize, experiencing loneliness or unsure of where you’ll spend your retirement years. There are so many floor plan options depending on what you’re wanting or needing for space.
Owning a Rich Lifestyle
When you move into a community like Kingsley Shores or Kingsley Place, you will find that there is overabundance of amenities and life enrichment opportunities. Our fully staffed wellness center has a warm water pool, state of the art fitness center, Hydroworx pool with ongoing fitness programs to help keep our residents independent and well. We also have activity directors that plan full calendars of events and programs that help you stay active, engaged and living a rich lifestyle. You meet your new neighbors, who become close friends and are interested in the same things as you.
Owning Your Cost Research
It’s important to compare the cost of renting to owning in the community that you’d like to move to. From the reports we’ve read online and comparing average homeownership costs in our market to our costs, renting at Kingsley Shores and Kingsley Place comes out ahead. *Ask about our Cost Comparison worksheet so you can compare our costs to owning a home.
Owning a Maintenance-Free Life
When you rent an apartment home at Kingsley Shores or Kingsley Place, you will not have to pay for maintenance. No painting, roof and gutter repairs, windows, sprinklers, carpets, dishwasher repair, you name it – we take care of it all. Enjoy all of the indoor community spaces which are part of your home, without having to do any upkeep or cleaning. No major-league, structural maintenance and ongoing seasonal maintenance like shoveling, landscaping or raking. The average homeowner spends between 1%-4% of their annual income on upkeep. The older the home, the higher the percentage. Residents of no-maintenance communities can rest easy knowing they’ll always be living in a beautifully kept home with a beautifully kept yard…without having to lift a finger.
Owning Your Freed-up Capital
Renting may free up money that you can invest, which could increase your overall income during your retirement years. Investments often grow at a quicker rate than real estate appreciates, making them an even better use of your financial assets. Also, ownership could put you at risk in the event of another housing-market crash—something renting does not do.
So, sell while the market is hot, get what you deserve out of your home and come live the Kingsley lifestyle. New friends, fun and wellness awaits.