nordanney
2024-05-24 12:10:26
- #1
A house costs money, especially as it gets older. And who wants to have to sell their house in old age for financial reasons?
However, one should always keep in mind that an apartment is, in 99% of cases, significantly more expensive than the house in old age. There is a reason why retirees who own property are generally much better off than their counterparts who rent (even if both families earned the same before).
Selling a house in old age usually means that with normal real estate, you can either buy a smaller and cheaper apartment (then the argument of retirement provision applies again) or you have to pay higher rent (even if this is somewhat subsidized by the proceeds from the house sale).