7 Reasons You Should Rent a Home in Retirement

When it comes to planning for retirement, choosing where and how you’ll live is a big decision. One choice that’s growing in popularity among retirees is renting rather than owning a home. Renting offers flexibility, peace of mind, and access to vibrant communities, making it an ideal option for those seeking a fulfilling and worry-free retirement. “A rental offers the ideal blend of flexibility, fixed monthly expenses, convenience, and community,” says Quiana Johnson, Senior Residency Counselor, of Ten Twenty Grove, a community offering premier rental senior living apartments in Evanston, IL. “Residents in our community embrace a carefree lifestyle, where every day offers new possibilities.” Considering lifestyle options for your senior years? Here are seven reasons you should rent a home in retirement.

1. Financial Flexibility and Stability

Renting in retirement frees up your financial resources, offering more freedom to pursue travel, hobbies or even to handle unexpected expenses with ease. Without the burdens of homeownership—like property taxes, maintenance, and unpredictable repairs—you can enjoy a maintenance-free lifestyle while rightsizing your space to suit this new chapter of life. With renting, you keep your options open and your finances flexible, allowing you to live life to the fullest. Monthly rental fees cover many expenses, offering a straightforward approach to budgeting that allows you to focus on enjoying retirement without financial surprises.

“We’ve been at Ten Twenty Grove since September 2024,” says DeeDee. “It’s been great. We lived in a big three-story home for 40 years and finally decided living on the third floor was no longer an option. We started looking for rental apartments in the downtown area, and this checked all the boxes. It’s a great value for us.”

2. Freedom From Maintenance and Repairs

One of the greatest perks of renting is leaving behind the responsibilities and maintenance costs of home upkeep. Leaky faucets, landscaping, and appliance repairs are no longer your concern. Neither is shoveling snow, raking leaves, or weeding the garden. Most senior living rental apartments have dedicated maintenance teams who handle repairs and upkeep, freeing up your time for relaxation and hobbies.

3. Location, Location, Location!

Senior living rental retirement communities are often located in bustling areas with easy access – often walkable! ­– to everyday essentials like shopping, dining, banking, and healthcare services. Having a prime location means residents can enjoy nearby amenities and social activities without the need for extensive travel. Renting in a convenient area offers you the best of both worlds—proximity to everything you need with the freedom to explore your neighborhood at your own pace.

“What I like about Ten Twenty Grove is the convenience,” says Ernie, a resident. “For example, this morning, I took a walk. Within a three-block radius, I was able to go to three different banking institutions. Convenience, being close to the post office and  any restaurant imaginable, is very important to me. It’s carefree.”

4. Simplified Downsizing and Decluttering

Transitioning to a rental home can be an ideal opportunity to downsize and declutter. Renting typically means less space to manage, which encourages a simpler lifestyle that’s easier to maintain. Downsizing also allows you to prioritize meaningful possessions, creating a more streamlined and enjoyable living environment.

5. Enhanced Social Connections

Living in a rental senior community means you’re surrounded by like-minded neighbors and social opportunities. Many communities provide a vibrant lifestyle with access to engaging social programs, activities, and outings often organized by resident councils. This setup fosters a true sense of connection and community while giving residents the chance to participate in a variety of enriching experiences. From hobby groups to community dinners, it’s easy to make connections and enjoy a vibrant social life without leaving your community. Renting can provide a built-in social network, perfect for retirees who value camaraderie and dynamic living.

“I’ve lived at Ten Twenty Grove for 15 years, and it’s been wonderful,” says Gordon. “The building is small and intimate, which makes it easy to get to know your neighbors. The apartments are spacious, and the location is perfect. If you’re looking for a cozy place where you can truly connect with people, Ten Twenty Grove is ideal.”

6. Flexibility To Move if Your Needs Change

Retirement brings the freedom to explore new places, but it also means life can be unpredictable. Renting provides flexibility that homeownership can’t match; if you decide to explore a new area, need a different level of care or simply wish to relocate, moving is easier when you rent. There are no worries about selling your home. You can move when you choose! This adaptability is a huge benefit for retirees with evolving lifestyles.

7. Peace of Mind With No Long-Term Commitment

Owning a home can come with long-term responsibilities that might feel overwhelming in retirement. Renting eliminates the pressure of managing real estate in the long term. It’s an ideal solution for older adults who want the freedom to enjoy their golden years without worrying about the complexities of homeownership.

Imagine What Renting Can Do for Your Lifestyle!

Choosing to rent in retirement is about more than just simplifying—it’s about enhancing your lifestyle, finding flexibility, and gaining peace of mind. By renting a senior living apartment, you can enjoy the benefits of a maintenance-free lifestyle, a vibrant social network, and the advantages of a convenient location.

Experience the freedom of renting in retirement at Ten Twenty Grove, where you can enjoy maintenance-free living, rightsize your lifestyle, and have more flexibility for the things you love. Call us at 847-512-3972 today to learn more about our vibrant community.