Owning a house in the suburbs seemed like such a great plan when you first were married. Now that the children are gone and it is just you and your wife, however, it is no longer a good fit.
The house is too big. The distance from downtown is too far. The maintenance is too time consuming. It is time to make a change.
Townhomes for rent may be the perfect option for residents looking for a luxurious, relaxed atmosphere without the struggle of maintaining a yard, scooping sidewalks, and other home maintenance tasks.
In fact, finding options of townhomes for rent may be the perfect solution for a number of people.
People who are retired. On average, people in America retire around the age of 63. If you have recently retired, you are likely ready to begin a lifestyle with fewer commitments, fewer responsibilities, and fewer calendar items. All of these efforts to scale back, however, can be derailed by a home that requires constant attention. A home owner who has to be home to mow a yard every week or scoop snow from sidewalks and driveways throughout the winter has not been released from responsibilities. They may no longer need to report to the office every day, but they remain tied to home maintenance issues.
Whether retirees decide to rent a townhouse or to rent a condo, this choice helps cut house related costs. Selling a home and moving into a rental unit with predictable monthly expenses allows retirees to free up the income they had invested in their home. This also means that these individuals can avoid tapping into other saving reserves. In some states and in many cases, taxes and insurance fees are less for renters than they are for homeowners. In addition, upkeep and utility bills typically average slightly more than 3% of the value of a house, according to a Center for Retirement Research report from Boston College. These fees are erased for individuals who decide to rent a townhome.
People who travel a lot. Townhouse for rent or condos for rent are also a great option for individuals who travel a lot. Whether you travel by choice or as a requirement of a job, living in a townhouse is an ideal situation. Instead of the routine maintenance tasks of home ownership, a renter can allow a landlord to take care of home maintenance issues. In addition, many townhouse and condo communities will help residents look after their properties when they are out of town. Since home owners are encouraged to set aside 1% of the value of a home for maintenance issues, these expenses can become overwhelming. In the case of a $300,000 home, for instance, this can mean an average of $3,000 a month for people who own homes. As a renter, however, that $3,000 could be used for travel opportunities.
People who like to “winter” in a separate location. Townhomes for rent are available across the country. In fact, some retirees who like to travel enjoy the luxury of rental homes in two locations. In fact, 60% of Americans in their Golden Years want to spend their time in a different city from their primary location. A winter location in a warm climate, for example, allows a retired couple to get away from winter weather during the worst months, but return to friends and family during more moderate weather times.
Are townhomes for rent an option for you? If you are a home owner who has tired of the daily grind of owning a house, perhaps making a change is the best option. Whether you are getting ready to retire, enjoy traveling, or want the opportunity to winter in a warmer location, a condo or townhouse rental may be the perfect solution for your housing needs. Whether you live in the midwest city of Indianapolis or on the coast of San Francisco, the rental options are plentiful and varied. Maybe it is time that you checked them out.