The Baby Boomer generation is proving once again that they’re anything but predictable.
In fact, Boomers are one of the fastest growing groups of renters in the country, and their numbers are expected to grow upwards of 12 million by 2030. While many Boomers are moving into rentals to downsize, others want the flexibility to move to stay close to children and grandchildren.
Whatever the reason for leaving homeownership behind, Boomers have unique needs as renters. Whether you are looking to rent or helping a senior family member find a new home, here are five considerations that you should take into account when looking at a rental.
One of the greatest benefits of renting is that you are not responsible for maintenance and repairs. When you are looking to rent an apartment or home, make sure that all maintenance is included in the rent, especially if there is a garden or yard that requires upkeep.
If you plan to make the rental a long-term home, it’s important to think about how the home will “age” with you in terms of accessibility. Are there a lot of stairs or an elevator? Are cabinets and other storage spaces easily reachable? Is there a shower that can be easily stepped into?
Style and high-end finishes
When making the switch from homeownership to renting, it’s important to feel comfortable in your surroundings. Apartments or houses that feature quality finishes on cabinets, countertops, and fixtures can make the transition from homeowner to renter easier. Just because you are renting doesn’t mean you need to sacrifice quality or comfort.