When Jeanine Consoli, a retired teacher embarking on a second career as a freelance travel and food writer, and her husband, Tony, decided to sell their town house in Bucks County, Pennsylvania, and relocate to Florida, their first thought was to buy another home.
But the couple had a difficult time finding a house to purchase in their target market, Sarasota, which was red-hot.
“The Realtor canceled on me three or four times, saying, ‘I’m sorry, the property is now under contract,’ ” Jeanine, 57, recalls. “That’s why we decided to rent.”
It turned out to be the right choice for them. The couple found an affordable two-bedroom apartment in a building Jeanine says reminds her of a Brooklyn-style brownstone (except that it’s pastel-colored). It’s close enough to Tony’s office that the 58-year-old insurance executive can walk to the office rather than fight commuter traffic.
“We’ve lived in this apartment for a year, and we love it,” Jeanine says. Though the couple still plan to buy a house, renting has given them a chance to take their time and get to know their new hometown better.
Whether you’re already retired or getting a head start by moving early to an eventual retirement destination, if you’re a longtime homeowner, you face an important choice: Should you buy another home or rent instead?
