When Does It Make Sense To Rent In Retirement

Rent Vs. Buy: How Yo Make the Best Use of Your Housing Dollars

Many times, people enter retirement with the goal of purchasing a new home. However, renting a home in Long Beach may be a better option in some situations. The real estate markets right now are still highly volatile. Although stabilization is occurring in some markets, there is a chance that home's value could fall in the future.

One way to help determine when it is a good time to rent instead of buy is to use the price to rent ratio. Find two homes that are similar in size and quality, one being a rental unit in Long Beach while the other is for sale. Then, divide the price of the home for sale by the total cost of renting the other home for one year. When the answer is above 20, it is likely that the value of the home that's for sale could fall farther before improving. Renting is the best option in this situation.

Many have found that during retirement, renting is the best option, especially in urban areas. Long Beach Apartments and condos offer added benefits, too, such as reduced maintenance concerns, entertainment options, easy access to other people and leisure. Before you buy, consider these benefits.

5 Things to Look for During Your Rental Inspection

Renting an apartment in Long Beach is a big responsibility. Not only are you taking on the new lease payments and responsibility for yourself, but you are also committing to a specific place to live. If that location does not provide the highest level of safety and comfort, you may be stuck with it for some time. For that reason, as you are seeing the apartment for the first time, notice the presence of any of the following five things.

1. Look for cracks in the ceiling, walls or flooring.
2. Spot any signs of water problems including damage to ceiling and floor tiles, mildew on walls or broken faucets in the kitchen and bathroom. Look in cabinets.
3. Find out if there is a lack of hot water from the taps or if there are signs of rust from the faucets.
4. Ensure there is sufficient lighting and electrical outlets.
5. Ensure the heating and air conditioning works well.

These five simply things can be easily overlooked. However, they are critical to inspect before you move in.