Discover why more retirees are choosing to rent and why it might be the smartest move.
When retirement finally arrives, many people find themselves rethinking more than just their schedules. They start dreaming about warmer weather, easier days, and homes that require far less upkeep. That dream often leads them to Sarasota, Florida, a sun-drenched coastal city known for its cultural scene, white-sand beaches, and thriving 55+ communities. But for all the excitement of relocating or right-sizing, one big question tends to loom large:
Should you rent or buy your next home in retirement?
It’s not always a clear answer. To help break it down, we spoke with Marcia Salkin, a trusted Sarasota real estate expert with decades of experience helping retirees find their next chapter. “At this stage in life, your priorities tend to shift,” says Salkin. “It’s less about building long-term equity and more about creating a lifestyle that feels flexible, manageable, and fulfilling.”
According to the National Association of Realtors, nearly one in five homebuyers in 2023 was over age 60, but the number of renters in this age group is rising even faster. A recent RentCafe report revealed that senior renter households have grown 43% in the last decade, far outpacing any other age group. So what’s fueling the trend? And which option is right for you?
If you’re relocating to Sarasota or exploring a new lifestyle, I actually encourage renting first, says Salkin. You can test out different neighborhoods, experience the pace of life, and see how it feels before making a long-term commitment
Renting Offers Flexibility and Freedom
Historically, buying a home was the gold standard for financial security. But today, many retirees are prioritizing freedom of movement, low-maintenance living, and the ability to “try before they buy.” Sarasota’s 55+ rental communities often offer features that cater directly to retirees: elevators, pools, fitness centers, group activities, and a built-in social scene. There’s also no need to worry about property taxes, insurance, or yardwork, which can be a relief when trying to enjoy your new freedom.
Renting may be right if you:
Are new to the area and want to explore it first
Prefer maintenance-free living and community amenities
Want the option to travel, snowbird, or downsize further later
Prefer not to tie up large amounts of capital in property
Additionally, many retirees find that renting lets them reduce mental clutter—no more worrying about roof repairs, unexpected expenses, or being stuck in the wrong place.
“Renting lets people focus on living instead of managing a house,” Salkin adds. “For many, that’s the definition of retirement well spent.”
Buying May Be Best for Long-Term Settling
That said, owning your home still holds advantages, particularly if you know Sarasota is where you want to stay for the long haul. “Buying is a great option if you’re ready to put down roots,” Salkin explains. “It allows you to stabilize your housing costs, customize your space, and potentially leave a financial asset to loved ones.”
With interest rates currently stabilizing and inventory in the Sarasota region improving, 2025 may be a good time to make a move, especially for those downsizing from high-cost-of-living states.
Buying may be ideal if you:
Plan to stay in the same location for 5–10 years
Have equity to reinvest from a previous home sale
Prefer to personalize and modify your home as needed
Want to control housing costs over time
Of course, ownership comes with costs beyond the purchase price. Ongoing maintenance, HOA dues, insurance, and unexpected repairs can quickly add up. “People often underestimate the hidden costs of ownership,” says Salkin. “Landscaping, pest control, appliance replacements, they all fall on you. You need to be realistic about what you want to handle day to day.”
A Harvard Joint Center for Housing Studies report found that over 37% of older homeowners spend more than 30% of their income on housing, especially when factoring in upkeep and property taxes.
Lifestyle Is the Real Deciding Factor
Whether you’re renting or buying, the real question isn’t just financial, it’s about how you want to live. “Think about your daily routine,” Salkin advises. “Do you want to wake up and walk to the beach? Join group yoga classes? Lock up and travel for three months? That’s what should guide your decision.” Many retirees today are less focused on asset accumulation and more focused on lifestyle optimization. They want vibrant communities, walkability, safety, and simplicity. They want to host the grandkids but not be tied to a lawn mower. They want homes that support well-being, not just ownership.
“When people feel good in their homes, they stay more active, more social, and more fulfilled,” Salkin says. “And that matters more than any real estate trend.”
About the expert
Marcia Salkin has been guiding homebuyers and sellers on Florida’s Gulf Coast for over 30 years. Known for her deep understanding of the 55+ market, she specializes in helping clients find homes that match their lifestyle, whether that means more luxury, less maintenance, or a stronger sense of community. Based in Sarasota, Marcia is a trusted advisor for anyone looking to right-size without compromise.
