Once the kids have left home, you might feel less inclined to spend energy on maintenance and repairs. Maybe you want more time to visit your grandchildren, travel, or try new activities.
Once the kids have left home, you might feel less inclined to spend energy on maintenance and repairs. Maybe you want more time to visit your grandchildren, travel, or try new activities.
— What if I sold?
This question is increasingly common among retirees in Quebec. Selling your house to rent an apartment in retirement can be an excellent strategy if it fits your situation.
Keeping the house means financial freedom if the mortgage is paid off. Once the mortgage is cleared, staying a homeowner means no more rent payments. This can significantly lighten your monthly budget, especially if your income is fixed. Plus, your home remains a tangible asset, a safe haven that protects against inflation and can be passed on as an inheritance.
Choosing to rent means fewer unexpected expenses than owning. With a fixed monthly rent, you know exactly what to expect, which can free up cash flow. If the rent includes services like heating, hot water, and internet, that's the maximum monthly amount you'll pay for the duration of your lease. A mortgage, on the other hand, is more like a minimum monthly amount. In addition to paying it, you must cover taxes, insurance, and unforeseen renovations.
A house isn't just a financial asset. It represents memories and often the anchor for the whole family. Keeping the house means keeping a reassuring reference point. If aging in a familiar environment supports your comfort and sense of security, then staying put may be the bigger advantage.
A house also means work. You need to maintain it and manage repairs. Renting frees you from maintenance responsibilities. It lets you travel without worrying about emergencies that might arise while you're away. It also gives you the flexibility to change neighborhoods, cities, or scenery without having to sell again. You just wait for your lease to end, which offers greater freedom.
Depending on your situation, a good compromise between owning a house or renting an apartment in retirement could be buying a condo. The range of condominium units on the market is diverse and can provide access to shared services in exchange for condo fees and a sufficient contingency fund, leaving you more time to devote to other projects.
Are you ready to change your pace? Being a tenant sometimes means giving up doing what you want, when you want. No renovations without permission, no garden to transform as you please. You have to accept a certain loss of control… but also a gain in peace of mind. That said, renting often comes with practical services like elevators and community gardens you don't have to maintain.
Keeping your house lets you do what you like, while renting can create opportunities to join a new community. Many rental projects are designed for active retirees. Joining one of these living environments means connecting with neighbors who share your interests.
Do you really know your property's market value? According to the FSMI Residential Barometer from the Quebec Professional Association of Real Estate Brokers (APCIQ), the median sale price of a single-family home in Quebec is $485,000 in the first quarter of 2025. But every city, neighborhood, and home has its own specifics, and prices can vary. A fair evaluation is essential for making an informed decision.
Over time, maintaining your home can become physically demanding. Yard work, climbing stairs… Is your house adapted to your needs and mobility? All this can require energy you'd rather invest in other projects. Selling and renting can then bring the freedom you're looking for.
On the other hand, if you decide to keep your property for your later years, you can turn your home into a project that supports your well-being. Your house can evolve with you. By adapting it to your needs and mobility, you'll transform maintenance into a project that enhances your comfort and quality of life. Some families even go as far as creating multi-generational or intergenerational homes.
Have you developed a clear plan? The FlexiFonds team is here to help. Choosing to rent can be a key part of a well-thought-out retirement strategy. But like any financial decision, it's best not to improvise. Contact our FlexiFonds mutual fund advisors to clarify your questions.
Depending on your situation, selling your house in retirement to rent an apartment can represent a well-calculated freedom. Use the AMF calculator to assess your financial capacity to buy or rent.
Are your loved ones thinking about becoming homeowners? Check out our article "Buy or rent: should I become a homeowner or stay a tenant?"
Did you know the Fonds immobilier de solidarité FTQ invests in residential projects for condos to buy and apartments to rent?
Whether you're a homeowner considering moving back to renting or a long-time tenant, revisiting your personal finance basics is always relevant. Good news: we have a course just for that. Visit Saving Savvy to better understand your finances and build your future, no matter your housing journey.
