Boston real estate agents say they are starting to see an increase in the number of people in their 50s and 60s looking to lease apartments. While real estate firms don’t break down statistics by age, Coldwell Banker Residential Brokerage in Boston said aging renters have helped drive up its overall rentals by 25 percent this year compared to last year.
“Five years ago, none of my [older] clients were renting,’’ said Collin Sullivan, a Coldwell Banker agent. “In the past year or two, I’ve seen people who would normally buy, looking to rent.’’
The reason: “They don’t want the worry. They don’t want to have to call someone about ice damage in the winter. It’s about freeing up your time to enjoy life,’’ Sullivan said.
Lipson, a single mother, can tick off a litany of home repairs that she incurred over nearly 20 years of owning a split-level ranch in Newton Centre. She put on a new roof, renovated a bathroom, replaced the chimney, installed new floors, and updated the air conditioning. And that’s just the short list.
Maddening extras, like hiring someone to plow her driveway in the winter and trim her hedges in the summer, were hard to escape. “Now, all I have to worry about is writing a check at the first of every month,’’ Lipson said.
As easy as that sounds, renting can be an awakening for homeowners.
Among the factors to consider before signing a lease is whether you are comfortable with the temporary nature of the new living arrangement. Duration in any rental is at the whim of the owner; rent can always be raised, brokers warn.
For many people, renting is an intermediate step between selling and buying the next property, whether a suburban bungalow or a city condo. It provides a chance to get to know a neighborhood and test out a new life.
For someone like Lipson, slightly daunted by city life, renting is a way “to see if she likes it, because it’s such a change,’’ said Melissa Scher, a sales and marketing specialist at Keller Williams Realty in Boston, who helped Lipson find her apartment.
Renting is not one-size fits all. Lipson, for example, had one deal-breaker: garage parking.
