THROWING MONEY AWAY ON RENT - Why We Rent As An Investment

We sold our house and rented an apartment as an investment, we ask the question are you THROWING MONEY AWAY ON RENT - Why We Rent As An Investment. Part of our theory is using money smarter in early retirement and using Provincial and State laws to grow an asset from rent.
In our Province of Ontario Canada we have rent control to prevent landlords from increasing rents beyond what people can afford, so our rent has risen just under 2% per year. On the other hand market rate for rents has risen sharply, so if we were to rent our same apartment as if we were new tenants the landlord would charge market rates which at the moment are $400 more than we are paying. This "gap" in what we pay due to rent control over 5 years and what "market rates" are is equal to $5000 a year.
The other Provincial law is giving the ability to tenants to sub let their apartments, meaning if we wanted to move we could keep our apartment and sub let to a new tenant and keep the "gap" in what we pay and the market rate, giving us $5,000 annual income. Renting has therefore become an asset with real estate growth even though we are not property owners.
#retirement #retireearly #retirementlife #retirementplanning #rent #rentals
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[@bobjacobson858]

I found this video very interesting because I've never owned any property. I'm 70 y/o and have been retired almost 10 years. I was fortunate to find an inexpensive apartment in which I lived for 18 years before retiring (owned by an older couple who weren't trying to make a 'killing' so they didn't bother to raise the already-reasonable under-market rent) and before that I shared an apartment for 12 years in another city. This enabled me to save a large chunk of my salary for retirement. On the other hand, I've known a few people who LOST money by buying a house: one lost a job and had to move to another area for a new job, but ended up paying two mortgages until the first house sold, and the other had a similar issue but real estate prices fell where he lived, so he lost considerable money. I asked the second man why he had bought a house, and he said "I thought that is what a person is supposed to do!" I'm in the US, and I suspect adhering to the "American Dream" mentality has caused financial problems for many people.

[@ThisIsOurRetirement]

Great comment Bob thanks for sharing this, if your disciplined with money and can save then renting is probably the better investment.

[@bobjacobson858]

@@bert1450 Where do you live? How long have you lived there? Unfortunately, because of most people having to live near where one's job is located, living in such a place isn't necessarily an option.

[@KeepItMowed]

My wife and I have always rented. We hear the arguments about how we're throwing away our money. Well there's a few things to consider. We live in Houston, Texas. Texas has no state income tax and a very reasonable sales tax. But owning homes in any city is very costly because of outrageous property taxes. You never truly own your home. Don't forget home owners insurance and the must have flood insurance. Then there's the upkeep, repairs etc. If you rent from a quality ran apartment complex that has good management and a strong corporation behind it, life is pretty easy. No paying for air conditioning break downs, no pay for a new dishwasher etc. Great facilities, quality pool, workout rooms and even meeting rooms and offices for your use on site. We treat our apartment like we own it. We don't abuse the appliances etc. The first sign of trouble we communicate with the property manager. Our rent has rarely gone up over the years. We enjoy living on the top floor. No one above us. We have no children, but if we did, the fruit trees would be much easier on them. Freedom from the above mentions brings value to our lives. Who wants to be retired and not have true freedom to do the fun stuff. Like always, great videos!

[@ThisIsOurRetirement]

Oh my you are kindred spirits, when you use critical thinking and analysis and don’t delude yourself on the cost of carrying a mortgage free home then the logical step is renting and living for yourself and not being owned by the house. Such a great comment thank you for sharing your insights and congratulations on getting it.

[@Duke_of_Prunes]

I have always owned -- 2 houses, 2 rental houses, and an apartment complex. It takes an entire day just to mow all the grass. I am nearing retirement, and have vowed to sell everything. Making someone else cut the grass is my dream.

[@stickbrick8219]

My wife and I have been married 23 years. We rented a very small apartment the first year and a half. We look back and as we were operating only 1 car, buying very little for the house, no maintainance costs and we were able to save a full salary and live off the other salary. Our Vancouver area house has done very well but we never have had as much cash for investments or to spend on fun like travel and entertainment. In the suburbs we needed a second expensive car.

[@roido6614]

I say this with Respect, You are like KZbin Parent's to us Millennials with all these future decisions about our own retirement. God Bless you both with long life. Peace!

[@ThisIsOurRetirement]

Thanks for your comment, we really want to talk to the younger generation.

[@markbajek2541]

Sometimes it's just nice to not have to mow the lawn, fix the faucet, re roof the house, replace the water heater or the fridge. Renting can also free up quite a bit of leisure time. Just lock the door behind you and go hike up a mountain side, see a movie, have lunch with some friends.

[@ThisIsOurRetirement]

Absolutely you got it ! have a great weekend Cheers 🍷🌺🍺

[@xo7454]

Yes! I did the homeowner and also the landlord thing for 15 years. Home ownership is overrated. 😊

[@JackdawWatcher]

Just found your channel and now I’m binge watching all your videos! It’s great to see advice from people who are retired and enjoying their life like you two, keep it up! ❤️

[@ThisIsOurRetirement]

Thanks for watching! so glad you enjoyed it have a great week Cheers 🍷🐣🍺🌺

[@stevendblois69]

A super late comment. From my own experience, living across Canada....i got more out of it than most. I did not own property, i did not have a family, and i did not incur debt. I paid cash for uni. and got to see more than the average man's lifespan by the age of 30. Then i trained young adults how to play in the alpine and rivers safely, in Canada. Glad to see that you are so positive with your situation. You arw both so sweet!

[@guitrr]

Regarding leaving your “family home” as a legacy to your kids, in 2021 this isn’t the culture of an agrarian society. Many folks don’t understand that your children don’t want your stuff. They don’t want your house, they don’t want 98% of your belongings.

[@ThisIsOurRetirement]

They don’t want to have to clear a lifetime of possessions from the family home either. We agree with you, that is the path we have chosen. Have a good weekend

[@guenthermichaels5303]

@@ThisIsOurRetirement oh yes....when my parents died, they had a retirement house on North Vancouver island in a fishing village..It was a nightmare flying out there and clearing out 40 years of stuff.. Before we could sell the house..I think you are being very considerate of your children... Cheers from Toronto

[@TR4zest]

It depends on where you live. In the UK, many boomers are becoming millionaires after inheriting their parent's homes.

[@ThisIsOurRetirement]

@@guenthermichaels5303 Thanks for watching Cheers 🍺🌺🍷

[@ThisIsOurRetirement]

@@TR4zest Guess they won’t complain about clearing it then LOL 😂😂

[@Jennifer_150]

Thank you for debunking this myth! My husband and I are in our early 40s, no kids, and living in Vancouver. Buying even the most modest of homes/condos is astronomical (!) but so many people still have the mindset that we’re throwing money away on rent. So from time to time the notion of buying still creeps into my head. Your videos do an excellent job of reminding me that indeed, renting is best for us! Thank you!! 😊❤️

[@ThisIsOurRetirement]

That is awesome! we love renting have a great weekend Cheers 🌺🍷🙂

[@rogerwalker1266]

I still believe buying a house is the best investment for any family. Everyone always needs a place to live. If the price goes up, you sell, the capital you get will buy an equivalent property. If the price goes down, same thing. It’s security buying a house and a good investment. Difficult for first time buyers to begin in the market, but in the long run a very sound investment.

[@sammencia7945]

Hongcouver houses are bank accounts for CCP members laundering money.

[@barbsinclair7352]

This is exactly what I've been thinking of doing for a long time now; I will retire in a few years and would love to stop dealing with a house; and just rent, I am constantly putting money into the house to keep it in top shape, but after awhile I don't think I am gaining much at all. So its nice to hear others that are doing it already and also understand that its not always just throwing money away. And I always said that I don't want to leave that burden on my kids to have to clear out and sell my house; and most of the time that's all it is, they have their own homes.

[@ThisIsOurRetirement]

Hi Barb all we can say we did it sold the house then rented 5 years ago and never looked back , when we had a house mortgage free what it cost us per month in running costs to us renting was $100 different but so much less stress life is great . What we would say is the sooner you get in on renting the better deal you get if you came in to our place as a new tenant you would be paying $400 a month more than us . TFW and have a great week Cheers 🌺🍷🍺

[@wlonsdale1]

You’re off your rocker if you don’t think landlords don’t think of those costs when figuring rent pricing

[@truthseeker9688]

@@wlonsdale1 exactly. There would be no landlords if there weren’t huge profits in Owning the apartments.

[@PlanetImo]

Always good to see you both keeping well and productive during this time. x

[@ThisIsOurRetirement]

Thanks we always appreciate you dropping by and it’s great to connect with things we are all going through have a wonderful week Cheers 🍷👍🍺🍁

[@LinaandDanTravel]

What a great subject! So nice to meet you guys and thank you for visiting us! We look forward to learning so much from you guys! Many blessings! 🤗 💕

[@ThisIsOurRetirement]

Thanks and welcome to our channel , hope you have a great week Cheers 🍷🍺🙂🌺

[@pj3998]

So love your channel, such a good example to us all.

[@ThisIsOurRetirement]

Thanks so much we appreciate you watching, hope you have a great week Cheers 🙂🍷🍺

[@barrypratt8837]

Great job on the videos, very clear and informative.

[@PositiveMommaLife]

Great analogy with the orchard! Love it

[@ThisIsOurRetirement]

Glad you liked it! TFW hope you are well have a great week Cheers 🍷👍🍺🍁

[@colleenla40]

This makes so much sense. Great work.

[@ThisIsOurRetirement]

Thanks so much.

[@sinetheawhy]

This is my second video of your channel and I am just loving it. You two are adorable and so polite, and I come away for lots of food for thought. I feel like we bumped into each other on a cruise and had a nice chat. Thank you for your uploads!

[@ThisIsOurRetirement]

Thank you so much!!

[@tonydomingos4548]

LOVE the apple tree story. Makes so much sense!

[@ThisIsOurRetirement]

Thanks just keep picking those apples 🍎🙂

[@TheMamuchos]

Totally agree with you guys about the legacy. All very fair perspectives. Stay safe guys

[@ThisIsOurRetirement]

You too stay safe and keep well enjoy your Sunday Cheers 👍🍷🌺🇨🇦

[@sussumunakamura8474]

Very good points, thank you for breaking this paradigm. I love the flexibility it proportionate. I am loving your videos!

[@ThisIsOurRetirement]

You are so welcome! Sussumu have a wonderful weekend Cheers 🍷🌺🍺

[@RetiredLovingIt]

Good information! Thanks for sharing. Stay safe 👍

[@ThisIsOurRetirement]

TFW we all keep learning every day even being retired LOL 😂😂 stay safe and have a great weekend Cheers 🍷🍺🍁🇨🇦😎

[@stevendblois69]

Again.... You guys are lovely! Keep it up. Polite and gracious!

[@OurDaysOut]

Interesting stuff Guys, thanks for sharing, and have a good weekend. Paul and Suzanne.

[@ThisIsOurRetirement]

Hi Paul and Suzanne thanks for joining us this morning , glad you enjoyed it hope you are both well have a great weekend Cheers 🍷🍺🍁😎

[@milloolee]

Thank you so much for sharing your knowledge and for making these videos. They give me so much peace and help so much with easing anxiety about retiring.

[@ThisIsOurRetirement]

Thank you for a great comment and for watching our video, we do hope you have a wonderful retirement.

[@ItsAboutTimeNow]

You two really know how to put out this information in such a clear manner. We completely understand cleaning out our parents home and selling it. ~ Diana

[@ThisIsOurRetirement]

TFW glad you find it helpful sorting out parents property can be a big problem, hope you are both staying safe and keeping well have a great wee weekend Cheers 🍷🍺😎🌞

[@theoldcameraguy]

Glad to see that renting works so well for you. Rent control certainly makes it an attractive option - Have a great weekend

[@ThisIsOurRetirement]

TFW we are loving renting and yes rent control is a great factor , stay safe and enjoy your weekend Cheers 👍🍷🍺🍁

[@cherylkelly8009]

Very well said!! Thank you !

[@ThisIsOurRetirement]

You are so welcome thanks for watching have a great day Cheers 🍷🙂🍺

[@gunnertravel]

very nice sharing, so informative. thank you

[@ThisIsOurRetirement]

Thanks for visiting glad you enjoyed it hope you are well have a wonderful weekend Cheers 👍🍷🍺🍁

[@unusual3383]

A very nice share. It is always nice to know this.

[@ThisIsOurRetirement]

Thanks for dropping by hope you have a great week Cheers 👍🍷🍺

[@RenLuuk]

This is such an important video. I love how you guys are going on your channel. You have definitely helped me rethink what I should be doing in retirement. You bring such a fresh perspective to the benefits of renting. I love your advice. Thank you 🥰🙏🏴󠁧󠁢󠁷󠁬󠁳󠁿🍷🍷

[@ThisIsOurRetirement]

Thanks Karen we thought it a very important topic as a lot of people have preconceived ideas that aren’t true about renting and we thought the same too😱. Hope you and your family are keeping well enjoy your day ATB 🍷🍁🍺🎃

[@hailey0675]

You both inspire me, thank you very much!

[@ThisIsOurRetirement]

Thanks Hailey!

[@nrs6956]

Thank you. My best wishes to you both.

[@ThisIsOurRetirement]

Thank you too!

[@IamaDutch-Kiwi]

As every choice one makes, depending in the country of residence, there are pros and cons to every situation. I am so happy for you that your planning, researching and knowledgable backgrounds have helped you get to where you are in life. Your positiveness can be felt through the screen with those happy smiles. Thanks for that interesting peek into rental options. Keep safe, keep smiling and enjoy the good life. 🍷👍🎥❤️🌷🙋‍♀️

[@ThisIsOurRetirement]

Good morning ☕️ Thanks for dropping by we do feel very happy with our decision and you are right we all have choices to either change or stay the same. We hope you are managing some local travel stay safe , keep well and enjoy your weekend Cheers 🍷👍🍁😎🌺

[@sandradawe9224]

After decades in our home we are now in an apartment renting. It suits us much better as my spouse has health issues. There is always something falling apart, needing to be fixed or replaced in a house, including the roof etc. so we don't miss that whatsoever. We have even given up our vehicle to save money, We have great public transit very close, and we rent a car when needed for getaways. We love to garden and have beautiful flowers and even tomatoes on our balcony. Looking forward to a bit of travel after the pandemic for sure.

[@ThisIsOurRetirement]

That’s awesome we are so glad you are enjoying your apartment Sandra we love ours and yes hopefully 2022 will be goodbye 👋 to Covid and we can all start travelling again Cheers 🍷🌺🍺

[@janefromthecountry1820]

I enjoy your channel. You both are such nice people!! Take care and catch ya on the next video. 💞

[@ThisIsOurRetirement]

Thank you so much!

[@itsastakesything]

Another great video full of great information, Thanks for sharing it with us, we enjoyed watching 👍🥰 hope your both keeping safe & well, Take Care 👍🤩🇬🇧x

[@ThisIsOurRetirement]

Thank you so much 🤗 glad you enjoyed it hope you are all keeping well have a great week Cheers 👍🍷🍺🍁

[@ryly7730]

Very informative. Thank you. Take care

[@ThisIsOurRetirement]

Thanks, you too!

[@erg7051]

Very interesting!

[@CogenMan3]

As usual you make perfect sense.

[@ThisIsOurRetirement]

Glad you think so! TFW and have a wonderful day Cheers 🍺🍷🌞

[@coincollectingfun]

Very good advice my friends! Crushed the like button!!

[@ThisIsOurRetirement]

Glad you enjoyed it have a great week Cheers 🍻

[@PH-dm8ew]

So many professional high budget retirement videos out there, yet yours are actually useful. Thanks and be well.

[@ThisIsOurRetirement]

Thanks so much

[@SLOlverStudio]

Interesting stuff couple I enjoy thanks for sharing 😃😃😃

[@ThisIsOurRetirement]

Thanks so much glad you enjoyed it Have a great weekend Cheers 🍷👍🍺🍁

[@terrygelinas4593]

I enjoy all your videos, and am looking at my personal transition to retirement. Thanks for all the insights. I need to balance capital appreciation of the houses (crazy hot market right now) with the usual taxes/repairs/renovations, against finding a place to live in the future. I do love living in my Toronto neighbourhood - not an easy decision when you weigh all the financial and non-financial reasons. You guys help me keep an open mind to possibilities.

[@ThisIsOurRetirement]

We are sharing our story as spreading ideas, most of which you are aware of but every now and then maybe something new to think on. We are all different and have had different experiences, eventually your needs might change or you can be happy knowing you took the right decision anyway. We wish you the very best retirement and we appreciate you watching our videos. Have a nice weekend.

[@marleythefrenchbulldog4237]

You guys are so nice and wholesome! ❤️

[@ThisIsOurRetirement]

Thanks for dropping by hope you have a wonderful week Cheers 🍷👍🍺🍁

[@marleythefrenchbulldog4237]

@@ThisIsOurRetirement your too. Cheers! 🥂

[@patsycathcart1]

My husband and I have recently been playing with the idea of selling our home, investing the money, and renting an apartment. We live in the US and do not have rent control in our state, but we still believe this will be a great way to downsize and save our initial investment from our home. Thank you for your well thought out advice.

[@patsycathcart1]

@@bert1450 Yes, losing our beautiful yard and screened porch is terrible. Rental units are outrageously expensive where we live, but we are weighing those costs. Having the money earned from the sell of our home in an investment account would help with those costs and/or travel. We are 70 and 73, do not want to leave this 4,000 square ft home full of stuff for our kids, and are tired of the maintenance and yard work you mentioned. We travel a good bit and would be able to travel more without the worry of a home. Good luck to you!

[@hedovein3540]

Thanks for the wisdom. Suggest you say people should read the fine print before subletting though. Differnt places have different rules. Love your forum and keep up the ingenuity!

[@ThisIsOurRetirement]

You are right and we keep trying to say that we are not financial advisors and you should seek professional advisors to suit your circumstances, thanks for your comment and suggestion.

[@Mr2ndkings]

Really enjoy your videos!

[@NeilLevalier1]

I’m about 5 yrs out till retirement and I like your ideas. Especially about renting vs owning.

[@ThisIsOurRetirement]

TFW it has worked for us , hope your plans for retirement work out have a great weekend Cheers 🍷👍🍺🍁

[@virnsky]

Thanks for making this video as it is very informative. We will also be selling our place when we retire as we are adding it as part of our retirement money.

[@ThisIsOurRetirement]

TFW that’s a great plan , that’s what we did with selling our home and investing the capital and then getting interest.Hope you are well have a great weekend Cheers 🍷🍺🍁🌺

[@sinansn6499]

Very nice video thank you 👍❤️

[@ThisIsOurRetirement]

Thank you for watching enjoy your day 😉🍷🍁

[@BoldandGraceful]

Excellent video, great information, I thoroughly enjoyed it ! You both answered a lot of questions that I had. Love the apples 🤣

[@ThisIsOurRetirement]

Thanks glad you found it helpful, we are really enjoying renting our place , having our own Indoor swimming pool to me is one of those Luxuries you talk about love ❤️it . Enjoy your Sunday Cheers 🍷🍺🌺

[@BoldandGraceful]

@@ThisIsOurRetirement That's just perfect,

[@carolmichael1813]

Hi folks. So good to see you. Been a tough time here but thankfully getting there bit by bit. My landlords selling which is a complete shock.Wishing you a lovely day. My friend in Calgary has snow. We have storms ⛈ mostly. Hope we don't have snow too soon. All love for a good weekend. Stay safe🙏🍺🍷🏴󠁧󠁢󠁳󠁣󠁴󠁿

[@ThisIsOurRetirement]

Hi Carol nice to see you , we are sorry your Landlords selling so now you are looking for a place to live . We rent from a large company that has multiple locations , maybe consider that when looking. We have seen a lot of rain in Scotland and England it’s very mixed here yesterday was 20° really nice and today only 7°, no snow ⛄️and we like it like that for as long as possible. Stay safe and keep well enjoy your weekend Cheers 👍🍷🍺🍁

[@niallmcdonagh1093]

I think one of the reasons people are reluctant to rent is the imagined stigma. Being older you have the joy of not giving a damn!!

[@ThisIsOurRetirement]

Great comment thank you , we love your sense of humour 😂 hope you both are stay and keeping well have a great weekend Cheers 👍🍷🍺🍁

[@jaxwylde2139]

LOL. Great comment. We own our home (3 more years to go), but given current housing market in many cities around North America, many young people don't have the option of buying unless they have a high salary or other windfall (inheritance, etc.). If I was starting over today, I'd rent and invest the delta (i.e. from what I'd be paying in Mortgage + property tax + maintenance). After 25-30 years, I'd have a nice retirement portfolio.

[@debbielockhart7762]

@@jaxwylde2139 Exactly. There's more than 1 way to skin a cat. Here in Victoria, BC I find renting makes more sense as housing is so overpriced. I save a lot this way.

[@thoryan3057]

@@jaxwylde2139 Not true. I came from nothing and have a moderate typical fresh-out-of-college salary. After 9 months of renting with my first job, I am buying a condo. It's about being responsible with the money you do earn and having realistic expectations when house shopping. The only benefit of the doubt I will give is that my student loans aren't bad and I haven't had to pay a penny of even my small payments because of the Covid forbearance. But other than this young people can buy a house if they want to.

[@thoryan3057]

@@jaxwylde2139 Just noticed you said "invest the delta." As a math enthusiast I approve lol! And I'll be continuing to invest for retirement too (401K match and Roth IRA limit), so I have taken that into account. :P

[@charlieoo1150]

We are planning a move to Portugal, and we love your videos.

[@ThisIsOurRetirement]

TFW and we wish you well with your move , stay safe and enjoy your weekend Cheers 🍷☕️🍺🌺

[@johnballard6725]

It seems like Portugal is the go to place for north American retirees and even working younger couples these days,there are several videos on KZbin about this!

[@berg8970]

Thank you for the video. My wife and I are planning on doing the very same thing, only we are moving from the U.S to Portugal then to Spain and whatever country after that strikes our fancy.

[@ThisIsOurRetirement]

Sounds like a great plan, we love 🇨🇦 Canada and have family here so renting in both places gives us the best of both worlds 🌍 enjoy your weekend Cheers 🍷🍺🙂

[@mariofiallos6880]

Very nice talking about your own experience,I, learned more about what's coming to me,I, wish you happiness.

[@suesez2]

Love the apple tree comparison!!

[@ThisIsOurRetirement]

Thank you Sue, we wanted something simple and non financial jargon, glad you enjoyed it.

[@jayknier2278]

Great video. Thanks! Owning a home is expensive from a maintenance and tax perspective. We are often oversold on the values of owning a home.

[@ThisIsOurRetirement]

Yes we hear you and we thought that way for many years , very glad we changed we have enjoyed every minute of our 5 years here. Have a wonderful weekend Cheers 👍🍷🍺🍁

[@debbielockhart7762]

And most.people tend to severely underestimate the amount that upkeep and the true costs of ownership come to. When we owned a beautiful home in Ottawa it cost us over $80k in the space of a few years. Siding, tree removal (dead trees from ash beetle), fencing, pool deck, pool liner, new furnace, well pump, etc). Or even worse, they completwly ignore the upkeep and let their house basically fall into disrepair. And property tax was about $500/month alone, never mind the mortgage.

[@wlonsdale1]

Please don’t tell me you think the landlord, out of the goodness of his heart, is covering those expenses. YOU are paying those

[@wlonsdale1]

@@debbielockhart7762 and if you rented it out, you would have charged enough in rent to cover it.

[@debbielockhart7762]

@@wlonsdale1 Rents are dictated by the market, not by the size of the landlord's expenses. In overpriced markets many people take a monthly loss on their rentals.

[@mikedennington8856]

I was in BC and paied $1200 a month for three years thats $43,200 over 3 years. I bought a house in Nova Scotia for $120,000 cash. I get appreciation of capital, prices are up 20%, no rent, no aweful neighbours, no bad landlords. So there are swings and roundabouts to buy and rent.

[@ThisIsOurRetirement]

We agree, but there is a cost of moving 10% of the house value, all the Home Depot / Canadian Tire visits, property tax, replacement items p, garage doors, windows roof, etc but hey if you wish to leave your capital at risk for unexpected expenses that’s OK.

[@MrWaterbugdesign]

Yeah, these "renting is smart" videos always ignore appreciation. I've been in my current house 15 years, paid $0 rent, $125/mo property tax and $250k appreciation. So my net is about a $610k profit (assuming compound interest at 4%) vs losing $360k paying rent ($1500/mo for 15 years and losing 4% on that money). The difference is almost a million dollars.

[@kjmorley]

@@ThisIsOurRetirement My garage doors are still good thankfully, but here are a few of my expenses over the last 5 years: Hot water tank: $1200; appliance replacements: $4,000; roof: $17,000; fence repairs: $3,000; concrete repair: $4,000; flooring replace: $9,600; tree trimming: $1000+ every few years... the list goes on... :-)

[@david-lt9wj]

@@kjmorley depends how big your house is......big house big bills...

[@kjmorley]

david True. Also, old house, big bills.

[@AdventureEncounters]

👋👋👋 Just stopping by and showing some support 👍 Full watch for you friends....see you soon! 👋 Ashley, Nate and Blake from The Adventure Encounters

[@ThisIsOurRetirement]

Thank you so much 😊hope you are all well have a great week Cheers 🍷👍🍺🍁

[@chasharper]

Interesting Theory , As a Homeowner in California USA I was thinking building equity was a great idea. This is very informative thanks for sharing with us my friends. Giant like 121 hope you both have a wonderful week. 👍😀

[@ThisIsOurRetirement]

Glad it was helpful! TFW hope you are keeping well have a great week Cheers 🍷🍺🍁😎

[@CP59FIT]

I agree with your thinking. I owned a home for 20 years and now that I'm a few years from early retirement I sold during the pandemic and moved to an active senior apartment. It is costing me less and I have lots of fertilizer for the orchard. I now have the freedom to decide which country I want to live in once I retire. I have no regrets and anything left will go to my estate. Yes, my former home is still appreciating, but I do expect the market to crash at least once in the next 20 years and didn't want to be stuck with it in a down market. I am also realizing gains on the capital, maybe not as much as the equity is going up in the house but I eliminated the downside crash.

[@ThisIsOurRetirement]

That’s great, we have had 2 houses in our life where we sold it for less than we bought it for due to market corrections and inflation. You have given yourself mobility so you can move within 30 to 60 days if you wish and reduced social isolation. Also you have reduced the liability to your capital but not having unforeseen housing maintenance. We wish you a great retirement wherever that takes you, it sounds exciting. Thanks for your great comment.

[@joanzach4859]

Recently discovered you two. Love your videos and you give us lots to think about but most of us in the US do not have access to rent controlled properties.

[@ThisIsOurRetirement]

Yes rent control is awesome, very few U.S. states or cities have it.

[@NuraNURA]

Thanks for sharing this interesting video, dear friends 👍👍👍 God bless you 🙏💖

[@ThisIsOurRetirement]

Glad you enjoyed it hope you are well have a wonderful weekend Cheers 👍🍷🍺🇨🇦

[@elizabethgriffith2702]

Love your videos

[@ThisIsOurRetirement]

Thank you!

[@mtadams2009]

This is the deal owning a house is rarely a good investment, this is fact but many will debate this fact. I own two homes and pay a combined property tax of 36,000 per year lets not even get into repairs, upgrades and the mortgage. Why then do I not rent and never plan on renting, I have and I hate living in apartments. For me its like living in a cage. But I totally agree with your financial advice. Many years ago someone coined the phrase you can't loss in real estate, which is not true. I have done OK in real estate but all my real wealth has come from the stock market. I may be wrong but from what I have seen you live in or near a big city where housing prices are insane. I could be wrong. As soon as I retire I am selling my way over priced house near NYC and moving to my country home. For many selling a low cost rural home makes no sense as the cost is low, renting options are limited, no apartment building for example.

[@ThisIsOurRetirement]

There will always be a debate on this topic we had a gorgeous home for 20 years, we did the maths on staying even mortgage free and renting and for us renting won hands down. We have a very spacious 2 bed 2 bath 1340 sq ft Apartment with huge balcony with ensuite laundry so definitely not cramped at all . Hope you have a great week Cheers 🍷🍺🌺

[@chrish9155]

Nice channel! You are a wise couple!

[@ThisIsOurRetirement]

Thanks Chris, that is very kind of you, have a nice weekend.

[@edgydoug]

Brilliant! My wife and I live in Manitoba and our province has rent controls as well. We've said for a number of years we'd rather rent than sell our home and buy a condo. You've made a brilliant case supporting what we're considering. To be honest one of the things holding us back is the "stuff" we've accumulated in our home over the past 30 years. We're certainly not hoarders but we have "stuff" to get rid of before considering a move. I can certainly see where the whole process could take a year. Thanks again for sharing your experiences and insights.

[@ThisIsOurRetirement]

We are so glad we did it , make a plan with an end date a year worked for us that’s the push to make you get rid of stuff, sell it , throw it away , give to charity shops start one room at a time . It’s very freeing getting rid of stuff , we should of got rid of more !! Have a great weekend Cheers 🍷🙂🌺🍺

[@Laila-xb9gs]

Y'all are so cute together! Great advice! I'm considering selling my house as it has become more of burden, w/ repairs and all, and renting.

[@ThisIsOurRetirement]

That’s what we thought, it is the unexpected costs that crop up that depletes your savings or worst still makes you borrow money for repairs, best of luck with your decision. Thanks for watching and commenting.

[@jacktyler7599]

New to your channel. I applaud the discussion this has provoked, which is of good value to everyone even if your choice, resting on rent control constraints, isn't relevant for most.

[@ThisIsOurRetirement]

This is what we are trying to do, share concepts and dispel fears around retirement, thank you for watching we do appreciate all comments.

[@kellihammond4956]

Excellent information

[@deborahnicholson6206]

Thanks for another informative video. I think the Pandemic will make us less "one dimensional" in our thinking. I have always thought I would prefer to own rather than rent. But hearing you speak, I can see the merits of renting. What we would do when the time comes, who knows. A topic that definitely requires a lot of thinking!!! Have a good week, Dxx

[@ThisIsOurRetirement]

Hi Deborah yes it’s a very interesting topic and a subject that everyone should think about both ways , for us it’s a plus and having in suite laundry, underground parking and a fantastic swimming pool is also a huge plus to our lifestyle. Hope you are staying safe and well have a great weekend Cheers 👍🍷🍺🍁

[@PJ-Sparkles]

My husband has been trying to get me to consider renting as well - we would make more in interest per month by investing the money from our house sale than we would pay in rent per month. Plus - no property tax, utility payments, etc.

[@ThisIsOurRetirement]

Financially it makes a lot of sense and protects your capital however if you are not certain about it it may not work for you.

[@evelinholmes6401]

My thinking is renting an apartment you can have awful loud neighbours. We still live in our house which is mortgage free . We can’t move into the country villages because of health problems. I did check the rents and there very high in Calgary. So for us it makes no sense to rent. We are close to our doctors and hospital. We used to be avid travellers but do to medical conditions out of the blue we can’t travel at this time and probably never will again. Everything stops once your diagnosis is established. Of course we thinking of downsizing but it is still cheaper to live in our house at the moment.

[@JenShea]

Hello you two, great to see you! I guess we’ve been very fortunate living in Ontario. I’ve never owned a home, always rented. I have friends who are home-ownership poor. I do believe it depends on your individual situation... income, family, etc. I’ve had to clear out my Mum’s house. It made me appreciate getting rid of a lot of ‘stuff’ already. My daughter saw what I went through with Mum’s house and she has made it clear she doesn’t ever want to have to go through that herself. So, I make sure I only have what I love and need and I’m aware that any of that will possibly be tossed when I no longer ‘need’ it. I don’t want to put my daughter through such a difficult task... and you two have already done the hard work too, so your family won’t have to either. I know you already appreciate the freedom this has given you. Have a super weekend. Cheers ~ 🍷 🍺

[@ThisIsOurRetirement]

Hi Jen it’s it amazing what parents hold on to thinking it’s all needed and important when we downsized and sold the house it was a great freeing feeling. We also think we still have some stuff here to get rid of as well LOL 😂😂 Hopefully our children saw us do that and appreciate that they don’t have that chore. Funny you say you have always rented my aunt and Norms Grandma always rented never bought. Hope you are staying safe and keeping well enjoy your weekend Cheers 👍🍷🍺🍁🌺

[@JenShea]

@@ThisIsOurRetirement We have to have stuff and I think we should have things around that we love and bring us joy... but at the end, we have to remember what we love our kids may not. Ha ha. I’ve been through the whole thing twice... first when my mother in law passed away. I wouldn’t want do that to anyone! When I was married we lived in my (ex) husband’s family home so I personally didn’t own it. And since, I love the freedom I have not owning. When I eventually settle in Portugal I think I might buy my first place !!!

[@martik778]

Owning a mortgage free house in the GVA was the #1 reason we were able to retire in our 40's. Now that we are "Seniors' we considered renting or downsizing but with the very high cost of rent of at least 24k (30k before tax) for 1/4 the space, it doesn't seem like a good option. Most of the proceeds from selling would have to go into non-registered taxable portfolios. Plus we enjoy all the space and the maintenance and gardening keeps us in shape. Might be a more attractive option when we get older. Great videos BTW :)

[@ThisIsOurRetirement]

Thank you for watching, everyone’s situation is different and we appreciate a one size fits all solution is unrealistic. It is a series of decisions that we took, selling our home moving to a cheaper area and living for ourselves, not our house. We value experiences at this time of life more than possessions. We really appreciate you adding to this discussion.

[@Mojayjay]

You guys are so charming! I love these videos :)

[@ThisIsOurRetirement]

Thank you so much!! enjoy your weekend Gloria 🍷🌺🌞

[@julietfrancisco2493]

Hi there....Im from Philippines...Thanks for the ideas...I like the both of you!!!

[@ThisIsOurRetirement]

Welcome!! TFW we hope you are well have a great weekend Cheers 👍🍷🍁🌺🇨🇦

[@tehilash7292]

Happy I found this video. Was wondering what were your considerations in renting versus ownership.

[@ThisIsOurRetirement]

Releasing capital and avoiding unexpected maintenance expenses of home ownership Cheers 🍷🌺🍺

[@MrGearoid65]

Cool. I get it now, on second time of watching!!! Makes your investment choices very important...stay safe lovely people. 💪

[@ThisIsOurRetirement]

Awesome! Thank you! have a great weekend Cheers 🍷🌺🍺

[@DesmondsDonders]

Catching up with your move into Apple farming. Take care and stay safe.

[@ThisIsOurRetirement]

We are thinking of doing 🍎 Apple cider next LOL 😂 have a wonderful week Cheers 🍷👍🍺🍁TFW 😎

[@sammencia7945]

Renting means no maintenance repairs or lawncare. Renting means you can move after a year without having to pay closing costs each year.

[@judymcfadden3577]

This is very interesting because, I am planning to retire in 7 years. (67) Your choices maybe not everyone's, but it does give a person something to think about.

[@ThisIsOurRetirement]

Thanks for watching we wish you well for your retirement have a great week Cheers 🍺🍷🌺

[@paulw1966]

Thanks for making this video, I've seen your others and find they are interesting. I am planning to move to Canada with my family, am talking to some people about buying/ or co-investing in business. What I and my wife think of our legacy for our kids is simply suffice educations and abilities to live, survive and be good citizens wherever they chose to be.

[@ThisIsOurRetirement]

We wish you well for your move, it has been very beneficial to us a wonderful country to live in.

[@lisalee3490]

Buy insurance and spend all your money 😆

[@bestirishmusic5375]

Greetings from Ireland. Happy to know you are both enjoying life.Very interesting video and makes sense in a controlled rent increase zone .Wouldn't work too good in Ireland as rent control is certainly not that good and rented accommodation is very expensive in the Dublin area in particular. Like myself I'm sure your both missing your winter holiday to Portugal. I can't wait to get back there.Stay safe good people. 🌝☀️

[@ThisIsOurRetirement]

TFW yes we are well thank you , and we definitely will miss going to Portugal 🇵🇹 this Winter due to all the travel restrictions, but even with the Covid situation we are finding new adventures and are thrilled at getting our new trailer that will be our cottage for next summer . We did get to visit Dublin briefly on our last Transatlantic cruise and it was beautiful hope you are well have a great week Cheers 👍🍷🍺🍁🇨🇦

[@bestirishmusic5375]

@@ThisIsOurRetirement Forgot to mention there is absolutely no worthwhile interest available on savings a/cs or any investments in Ireland. In fact from next years banks and other financial services here are considering charging customers fees for having funds sitting in accounts. Hope it's a better situation in lovely Canada.🇮🇪 🇨🇦

[@ThisIsOurRetirement]

@@bestirishmusic5375 Wow that’s tough charging you to keep your money with a bank. The best we can get is 1.5% with online banks, can you hold Dividend stocks that pay Interest ? We do well there . 🙂

[@bestirishmusic5375]

@@ThisIsOurRetirement Yes,but the government tax take is so high it's hardly worth it. Were in the eurozone and all countries have very low interest rates in Europe. 0.02 % on savings a/c's and many with banks and institutions offering less for next year.Then theres DIRT tax charged on that a/m if its savings a/c and a different tax if its investment a/c. You cant win.Oh for some Portuguese sunshine and prices 😀

[@ThisIsOurRetirement]

@@bestirishmusic5375 😎🇵🇹🍷🍺

[@cyclingonplants7444]

I love you both! You are so sweet and tell such great stories that make one think of the possibilities and that's all we can do as individuals is gather all the facts and then make informed decisions. Keep those videos coming!

[@ThisIsOurRetirement]

Thank you so much! as long as people watch and enjoy them LOL 😂we will keep doing them . We are just sharing what we have learned probably it’s the fear that is worse than actually doing it . Have a great weekend Cheers 🌺🍷🍺

[@lillygardens1]

Oh, I just Love you two!! Ya'll are SO cute!!! Thanks for the wonderful videos!

[@ThisIsOurRetirement]

Thank you so much!!

[@LovingLifeHitchedUp]

we're debating selling our house in the next few years and renting until we hit the road in our travel trailer full time. Great hearing about your experience. However, for us, we live outside of New York City and rents can be very high. We may have to move further out until we can officially retire and travel full time.

[@ThisIsOurRetirement]

There are many up state NY small towns that are cheaper. We wish you every success as full time RVers when things settle down

[@merrywhiterose]

We rent at the lowest cost in our area--$500./month, trash is included. We've saved total net of $800,000 between our retirement money, savings & checking. If both of us were to die, the kids would only have to go through a 2 bedroom apartment to get what they want. Then, they get all of the money from our other sources. We like the apartment, but hate the neighbors. We always end up with someone that's noisy next to us. But, no matter if you live in a house or apartment, that can happen. When my in-laws died, they left a house in the country that we thought would be worth more than it was sold for. The house was packed full of crap that had to be thrown away. We did what we could for 4 years! Finally, we sold the house "as is". We don't want our kids to go through the same thing.

[@ThisIsOurRetirement]

Thanks for your comment sometimes life is hard , we are fortunate that we have nice neighbours with no noise , we are glad we are glad we sold and that our children don’t have that worry . Thanks for watching Cheers 🍷🌺🍺

[@arl1958]

Just found your channel, love it. My husband and I have talked about renting vs buying many times. People who are against renting always seem to leave out the down payments on ownership. The mortgage interest over 25 years. That is a LOT of money. It's all fine if you live in an area where real estate is appreciating, but that is not the case everywhere. Upkeep, taxes, utilities can add up quickly. Don't like it when people automatically dismiss an idea....try to see the benefits and cons of both sides

[@ThisIsOurRetirement]

Great comment thank you , at least being open to consider other ideas that you might find actually work. Have a great week Cheers 🍷🍺🌺

[@arl1958]

@@ThisIsOurRetirement Have to tell you my mom and sisters were born in Surrey, ( I think that's south of London), mom was a war bride and came over to Canada after the war with my two sisters. Dad was born here ( Calgary) as was I after the war. Anyway, love that you came here and so happy you stayed!

[@BikesBoatsBivouacs]

Looking forward to your videos when your campground reopens

[@ThisIsOurRetirement]

Us too! we can’t wait for May , hope you are well have a great weekend Cheers 👍🍷🍺😎

[@anthonypayne1]

Food for thought! 👍👍👍

[@ThisIsOurRetirement]

Thanks Anthony have a great week 😀😀👏🇬🇧

[@mojsharhappy]

Hello, really enjoy watching your videos....just one word of caution, I dont think you can sublet for a price more than the rent you pay to the landlord and you actually need the landlord's permission to sublet!....pls check that out, before your landlord finds out!

[@damienlozada8653]

True, in Ontario you can sublet but one of the stipulations is that you can not profit. Here are the regulations to subletting. A tenant who sublets a rental unit cannot:  Charge a higher rent than the landlord does for the rental unit  Collect any additional fees for subletting the rental unit, or  Charge the sub-tenant for additional goods or services.

[@honoratam9925]

Hello Tina and Norm! Nice to meet you 🙂 Your videos are very interesting and entertaining. I'm starting to consider selling my place and renting an apartment in 5 years. You're right, children don't want to be left with our mess and they don't necessarily want to live in their parents house. Are you in Quebec? I live in Montreal presently. Keep up your great work! 🤗🤗

[@ThisIsOurRetirement]

Thank you so much no we live in Southern Ontario , all we can say we sold and then rented an apartment and never looked back Cheers 🍷🌺🍺

[@vandanapatel1080]

Beautiful information always so much informative love it.Sir what town are you in please do mention.

[@ThisIsOurRetirement]

Thanks for watching we are in Southern Ontario have a great weekend Cheers 🍺🍷🌺

[@AhmedHussein-tk5hm]

Will appreciate a program on senior care in Canada options cost, subsidy and how you plan for it.

[@JMichael2x2]

Also that might be a particularly good strategy if the climate where you live is a bit severe in winter; however, we like to garden - one key hobby in retirement, and the climate where we live you can garden all year round if you want. But certainly I understand the advantages in renting, owning a home is not always the most cost effective plan

[@ThisIsOurRetirement]

Thanks for sharing have a great day Cheers 🍷🌺🍺

[@davidsmith530]

There is a time in your live to own (when you are young and growing a family). And time to rent(when you are retired and your family has grow ). We owned our home for 42 years and over that time the equity grew 11 times what we paid for the house. It was like winning the lottery .We will be able to live on the interest from the money with no debt. And the big thing is that the upkeep is the landlords problem.

[@ThisIsOurRetirement]

What a great comment we are living just that and it is wonderful guess like winning the jackpot 🎰 wishing you a wonderful retirement and great Easter 🐣 weekend Cheers 🍷🐣🍺

[@mumtazahmed2682]

@@ThisIsOurRetirement UYeh but the jackpot is only for people who had bought their houses/property some 15/20 years back , the same can't be said about buying now as the appreciation will never hit that level even in next 10/15 years

[@christinee8353]

Having been a landlord, couldn't agree with you more! In Ontario the laws definately support tenants. I believe that unless you can generate an income from your properties many would benefit from renting. In preparation for retirement I downsized from a 4 bedroom home to a duplex that has two moderate sized apartments that can be used as air bnb rentals...one is rented short term (air bnb) always and the other is for me to live in or to be rented (air bnb) while I travel. This is good while I'm retired in my 50's but I may definately cash out and rent as I enter my 60s. One reason to keep an asset like a property, is if you don't need the income it would generate and would simply be losing OAS income due to clawbacks from the income invested.

[@ThisIsOurRetirement]

Interesting points Christine thanks for sharing , renting definitely works for us as you say if you took early retirement renting a place out would give you cash flow if you needed income before pensions kick in . Cheers 🍷🌺🍺

[@paulachristie7807]

We are retired and live in a townhouse we paid off before we retired. Where we live in Southern California rent is high and continues to rise, no rent control here, we have a financially secure lifestyle because we own our home.

[@ThisIsOurRetirement]

Sounds fantastic

[@eckankar7756]

You'lll never be evicted having a paid off mortgage.

[@ThisIsOurRetirement]

@@eckankar7756 Renting from a corporation who own more than 60 buildings why would they evict good tenants? You can be compulsory purchased if they decide to develop the land your home stands on. Such as mineral rights, you don't own the resources under your property.

[@jaxwylde2139]

Some very valid points you raised in this video. My wife and I have also considered/discussed this option for our retirement. The other option is to keep the home, and rent out the basement (which has separate entrance, 2 BR's, kitchen, bathroom, etc). Our kids are using it now (while finishing university), but when they move out, this is something we may do. Of course, the rental payments will be taxable, but it'll still offset annual property tax, and help fund home improvements, repairs, etc. Ultimately, it all depends on each person's individual situation. Cheers.

[@ThisIsOurRetirement]

Yes retirement is different for us all, your plan sounds good to rent the basement out. In our case we wanted to sell our home and invest the money, also we wanted rid of all the problems and unforeseen costs of home ownership which we had for many years. The good thing is we all have options and we wish you a happy retirement. Have a great week Cheers 🍷🍺🙂

[@johnballard6725]

Keeping the house and renting out the basement makes a lot if sense.