Unrecoverable homeownership costs often amount to about 5% of the home’s value annually. Photo by PEXELS

Q. I was divorced three years ago at age 53 and am currently trying to decide when to retire. I’d like it to be sooner rather than later, but I need to decide whether to continue paying a $200,000 mortgage into retirement or sell my home and pay out monthly rent that is greater than my currently combined mortgage and property tax payment. Do you have any guidelines on how to make this decision? —Many thanks, Charlotte

FP Answers: Thanks Charlotte, this is a more common question than many might think. Deciding whether to keep a $200,000 mortgage into retirement or sell your home and rent at a higher monthly cost is not just a significant financial choice, it’s a lifestyle choice a

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