All Forum Posts by: Kevin Zheng

So my mom owns a home and is thinking about moving into a retirement home. We are wondering if we should rent out the house and move her into a retirement / assisted living home, or if we should sell the home, and rent her a new place.

The options are:

1. Sell home, rent new smaller home/move to retirement community (disadvantage: we can have cash up front; but loose equity in the home)

2. Rent larger home, use cash to rent a smaller home/move to retirement community (disadvantage: less community of older folks; advantage is we can continue to own the home but make money off of the rent payments; but now we have to manage new renters)

Basically asking if anyone has experience moving to a retirement community, and what the optimal move is with our current real estate assets.

Where could we talk to similar people in this situation? Feel like this is common?