Buying a home or renting are choices that both have advantages for retired people, but planning for accommodations in one’s “golden years” should start early, online property listing service MyProperty.ph said. For those looking for a home at retirement, renting and buying have different advantages depending on one’s circumstances. Home equity is the market value of the property less the outstanding loans on it, and grows in two ways, throughpaying off the loans, and through appreciation of the property value. People who would like to travel more would probably be better off renting than buying a property, it explained. “Every person is in a different place in their life, financially or otherwise, so there is no single cut-and-dried response to whether to buy or rent in retirement,” it said.

Source: Manila Times March 14, 2017 16:52 UTC