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If youre aretireewho owns your home outright, kudos to you.
However, not all retirees want to own a home anymore.
More older households will choose to rent in the coming years.
Renting means you wont be responsible for the cost of repairs, maintenance and regular upkeep of the property.
It also means that you wont have to worry about property taxes or homeowners insurance.
However, inflation will affect your housing costs.
Youll need to be prepared for the landlord to raise the rent from time to time.
Based on a 4% average annual rate increase, rent typically doubles after 20 years.
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