When comparing renting to owning, the mortgage payment is only the beginning. True costs include insurance, property taxes, condo or HOA fees, repair reserves, lawn care, and even the value of your time. For many—especially those transitioning out of older homes—renting can close the gap or even come out ahead once maintenance and risk are factored in. Recent national reports show more Americans choosing to rent longer as interest rates and ownership expenses remain high, with senior households in particular appreciating the added flexibility.

A good way to evaluate your options is to run two side-by-side budgets:

1. Keep the current home and calculate every real expense.
   
2. Sell and downsize—either renting or buying something smaller.
   

Make sure each line item has a clear, defensible number. Then, go beyond the math. Consider the daily realities: climbing stairs, managing snow and yard work, access to healthcare, and the comfort of living closer to family or convenient transit like Metro.

Downsizing or renting isn’t just about saving money—it’s about reshaping life to fit your current stage and priorities.

Contact Sell My Parents house today to discuss your real estate needs!