She said most of her widowed friends were renting, too. “The thought of putting down a large amount of money is a major reason why my friends and I decided to go the rent route,” Ms. Hardisty said.

What are your goals?

Though most older people prefer to stay put, many others who own houses in the suburbs are trading in the stairs, the unused rooms and sometimes the headaches of lawn care for something more manageable. Once they decide to downsize, retirees should weigh the emotional and financial factors of renting or buying their next home.

Because of all the costs of owning a home in retirement, buying a new, though smaller, one may not be the wisest financial decision, some experts say. Rather, “most people make a decision based on the emotional and lifestyle aspect — ‘I want to be in warmer weather or closer to my children,’” said Jamie Hopkins, director of retirement research for Carson Wealth, a wealth management firm in Omaha.

Downsizers who lean toward buying take pride in homeownership and want to fix things up the way they like. Those who opt to buy a new single-family home may relish puttering in the garden or grilling in the backyard. And “there is a negative stigma to renting,” said David Blanchett, head of retirement research for Morningstar, the investment research and management company. “Even if the numbers don’t make sense, you would buy because you don’t want to be perceived as a renter.”

Other retirees, like Ms. Hardisty, prefer the benefits of renting: fewer maintenance aggravations and the freedom to try out new towns or neighborhoods. Others prize the amenities offered by many rental communities, particularly independent-living complexes.