Why leasing or renting a home is the perfect decision for active adults over 55
For active adults 55+ seeking a vibrant and hassle-free lifestyle, the decision to lease or buy a home becomes crucial. While traditional homeownership has its merits, lease-to-own models and renting a home within an active adult community present a variety of benefits tailored to your needs.
If you’re asking yourself, “Should I buy or rent my home as a senior?” read on to discover why renting or leasing in a 55+ community in New Jersey might just be the answer you’ve been looking for.
1. Try Before You Buy: the Lease-to-Own Model
Leasing a home in a 55+ active adult community like Cottages at Compass Point offers a unique opportunity to “test drive” your new community before committing to a purchase. Our lease-to-own model allows you to live in the community and experience its amenities, social activities, and overall ambiance. This trial period ensures that the community aligns with your needs before jumping in with a permanent purchase. By leasing first, you can make an informed decision about whether the community is the perfect fit for your retirement years.
Learn more about our lease-to-own model and rental options.
2. Maintenance-Free Living
One of the most appealing aspects of renting in a 55+ active adult community is the liberation from home maintenance responsibilities. As a renter, you’re not burdened with the upkeep of your home, yard, or exterior spaces. This means no more mowing lawns, fixing roofs, repainting fences, shoveling snow, paving the driveway… you get the gist! Instead, you can devote your time to enjoying the community’s amenities, meeting up with old and new friends, and engaging in nearby attractions.
3. Cost Savings and Financial Flexibility
Leasing or renting your home offers distinct financial advantages over traditional homeownership. The upfront costs associated with purchasing a home, such as down payments and closing costs, are often significantly higher than those fees associated with renting your home. Leasing eliminates property taxes, which can lead to substantial savings in the long run. Put these huge cost savings toward your next vacation, or invest in new hobbies.
4. Tax Benefits
Leasing a home can also bring new tax benefits for active adults. Since you’re not the property owner, you’re not responsible for property tax payments.
5. Flexibility to Change Homes within the Community
As your needs and preferences evolve, leasing provides the flexibility to change homes within the same 55+ active adult community. Whether you’re seeking a different layout, a better view, or simply a change of scenery, the option to move within the community without the hassle of selling a property offers unparalleled convenience. This adaptability ensures that your living situation remains in sync with your lifestyle at all times.
For active adults over 55, leasing a home within an active adult community is a compelling alternative to traditional homeownership. Our lease-to-own and renting models grant the opportunity to experience the community before making a permanent commitment. Financially, leasing offers cost savings, tax benefits, and the flexibility to adapt your living situation over time. Leasing your home could be the key to unlocking your dream retirement.
