Renting in retirement vs owning – what should you do?

As you start to get older, you can start to imagine what your life will be like once you hang up your working boots for good. But before you can look ahead to a life of hammocks and relaxation, you first have to decide between owning or renting your retirement home! So, is it better to own or rent in retirement? We’ve rounded up some of the major factors that you should consider.

Benefits of renting:

  • Flexibility
  • Low cost
  • Less responsibility


Wondering if it makes sense to rent in retirement? Think about what you want to get out of your retirement years. If you aren’t sure yet and want to keep your options open, renting a retirement flat may be your best option.

Renting may also make a lot of sense if you have children/grandchildren in different cities, enabling you to switch where you live at a moment’s notice. Renting is a decision that will mean you never feel tied down - go forth and travel as you please!

Low cost

Typically, renting a home will cost less than the price of paying for a retirement apartment outright. You do have to factor in the monthly cost of rent, but usually it will fall on your landlord to take care of any maintenance costs.

Less responsibility

Owning a home comes with a great deal of responsibility - when something goes wrong with a fixture or appliance, it rests on you to fix it! If you don’t want this kind of responsibility, renting a retirement home is an easy escape route. This is especially good if you find that you are slowly losing the appetite for doing odd jobs around the house.

Benefits of ownership:

  • Stability
  • Personalise your home as you please
  • Good investment option


For many, retirement is a time to sit back, relax, and settle in one cozy location for several years. If you have the means to afford it, home ownership comes with the promise of much greater stability than renting. For example, you’ll never have to worry about sudden rises in rent! If you feel emotionally tied to the idea of owning a home, nothing will beat the security of home ownership.

Personalise your home as you please

Owning a retirement apartment means that you can decorate however you want! Is your home in desperate need of new wallpaper or a shiny new paint job? Without a landlord to ask for permission, you can give your home interior a new lease of life whenever you please.

Good investment option

Home ownership is a great long-term decision - and not just because it offers you more stability. Buying a retirement apartment could also be a smart investment option, as you will be preserving an asset for the future and like any property its value may go up over time.

Should you rent or own in retirement?

Deciding whether to rent or own a retirement apartment will ultimately depend on your personal circumstances, and your idea of a dream retirement. While renting a retirement flat will suit someone who wants a more flexible retirement lifestyle, owning an apartment is the best option if you want stability and long-term security.

Looking to own a retirement flat while saving money on bills? Churchill Retirement Living can give you a retirement lifestyle that’s easy to budget for, without any unexpected bills! Check out our property search to find out how you can get the most out of your retirement years.