I am a widow who is retiring this April and selling my home. Would it be better to buy a small home, or rent?
I want to down size since it is just me now.
Answers | 4
If you value your complete privacy, then buying a small home may be the right choice for you. I would speak with a trusted Realtor who can show you various property types to aid in your decision-making process. There are also numerous financial calculators out there if you just Google "renting versus buying a home."
I'm so sorry for your loss.I lost my husband in 2008 and feel your loss. I'm still working, but the big house on acreage was way to cumbersome for me. Rent for a 3 bedroom 2 bath 1500 square foot house was $1325.00. I bought a small patio home same size in a gated community and my house payment is $891.00. It really depends on if you think there is a possibility in the next few years of staying or moving. I rented until I knew where I wanted to live. Then I purchased. It also matters what your retirement income looks like, what you want retirement to look like, what your Plan B is. I wish you all good things. Good luck and God speed.