1 in 3 Baby Boomers Say They'll Never Sell Their Home

[chowmama]

7. Whether it's paid off or it isn't

This isn't a time to take on more debt by buying new, or by refinancing at a higher interest rate. And relying on the kindness of the people who own rental property to keep the rents low is not the greatest idea either.

If you're still paying and the interest rate is low, best to stay put. If you're paid off, you're going to be money ahead to do whatever maintenance and/or improvements you can afford. And stay put.

As far as neighbors, neighborhoods keep changing. When we moved in 40 years ago, we were a block from 'Crack Alley'. That took almost 2 decades to resolve. A decade ago, a landlord across the street rented to a bunch of college dropouts (I assume) who played music at top volume every night till 2 or 3AM. Calling the cops resulted in about 20 minutes of silence before they resumed - just long enough to fall asleep. At one point, most of the block ended up in the street at their address and we had a near-riot. The drug lords were quieter. When they moved, the property owner had to gut the house to the studs to deal with the damage they did.

Worst thing at the moment is the mariachi band that rehearses in the evenings, but they quit at a reasonable hour. And they're actually pretty good, especially the vocalist. It's a little tuba-heavy, though.