If your home is large or expensive to maintain, selling it and renting could save you thousands of dollars each year. Instead of being financially responsible for every expense, you can pass that cost on to the landlord or property manager.
You also won’t have to worry about property taxes, insurance and possibly even utilities. Granted, if you’ve paid off your mortgage, and you don’t pay a king’s ransom in property taxes and maintenance, then it probably makes sense to stay in your home.
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