I don't think I could go from owning to renting with my mindset. But maybe with this housing bubble it'd be good move for some to cash in on their home while they can, rent awhile then circle back around and re-buy their home for $200K less in a few years.
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Is owning a home still the American dream? Why older Americans are choosing to rent
Pippa White, a 60-year-old renter, is living her own "renaissance" after ditching homeownership and finding a new American dream in Atlanta — as her building’s developer calls it “a big shift."www.foxbusiness.com
That’s essentially what we did. Though we were kinda faced with a dilemma due to Moms passing.
We sold the beautiful home with high expense and $2500 mortgage (plus taxes and insurance) and moved into the MUCH less expensive place we had bought for her. Like most, in parks you don’t own your land so we pay $500 p/mo for lot rent.
Now of the 200+ homes here honestly there are only 3 I’d live in, and we happen to have one.
But to the point , why go into retirement with a mortgage and sky high property taxes?
I’m much happier with that extra $500k earning me fixed 5% and not caring if we have Door Dash 5 nights a week or buy a new gun/camera without worrying about the budget, or buying a nice vacation for my daughter.
Unless you have a family homestead to protect, it’s just a place to live as long as it suits your needs. I don’t miss our old place anymore and I especially don’t miss cleaning the pool or taking care of the yard