The Benefits of Renting for Empty Nesters

July 10, 2023

Empty nesters after moving into their new apartment

As children grow up and leave home, many empty nesters find themselves in large family homes that no longer suit their needs. Downsizing is a popular option for those looking to simplify their lives and reduce expenses. While many people assume that downsizing means buying a smaller home, renting an apartment is also an excellent option for empty nesters, and comes with many benefits.

Financial Benefits of Renting an Apartment

One of the most significant benefits of renting for empty nesters is the cost savings. Renting can be a much more cost-effective option than owning a home. Property taxes, maintenance, repairs, and utilities can add up quickly, particularly for larger family homes. By renting a smaller space, empty nesters can save money on these expenses and use the extra money to fund their retirement, travel, or simply enjoy a more carefree lifestyle.

Renting Provides Flexibility

Renting an apartment provides empty nesters with the flexibility of staying somewhere for as long, or as short of a time, as they want. Whether you want to explore a new city or be closer to your children, short term rentals, like those around 1 year, offer a new lifestyle with more freedom and flexibility.

Apartment Living Provides Many Amenities

Many rental properties offer amenities that can enhance the quality of life for empty nesters. Swimming pools, fitness centers, social lounges, and community activities are just a few of the many amenities that a Summit rental property offers. Plus, you can enjoy the nearby community garden, parks, shopping, and so much more just a stone’s throw away, as our luxury apartments are located in the highly-desired West London neighbourhood. These amenities can help empty nesters stay active, meet new people, and enjoy life to its fullest!

Renting an Apartment Means Reduced Responsibility

Homeownership comes with a significant amount of responsibility, including maintaining the property and handling any repairs. Renting allows empty nesters to avoid these responsibilities and focus on other activities they enjoy. With a smaller space to maintain, no lawn to mow or snow to shovel, empty nesters can spend their time and money on hobbies, travel, or spending quality time with family and friends.

Empty Nesters Can Enjoy More Social Opportunities

Renting an apartment means that your friends and neighbours are always close by! Plus, by exploring the great amenities like social lounges, community gardens and pools, empty nesters are given the opportunity to meet new people and make friends.

Enjoy the Freedom of Renting an Apartment with Summit Properties

If you’re an empty nester looking for a simpler lifestyle, Summit Properties offers a wide range of 1-, 2-, and 3-bedroom apartments with fantastic amenities that cater to your needs. By downsizing to an apartment, you can enjoy the freedom of a stress-free lifestyle, with the added benefits of a community that promotes social activities and events, all while saving money and maintaining your independence. Contact Summit Properties today to discover how we can help you achieve your goals and begin the next chapter in your life.

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