From Homeowners to Renters in Late Adulthood
“To be allowed to live here is better than winning the lottery.” After a lifetime of owning a home and paying a mortgage, Kåre and Irene chose to rent an apartment from Frost Eiendom in central Trondheim. In their two-bedroom flat, they have fewer worries, less to maintain—and feel truly free to do whatever they want, whenever they want.
Following a lifetime of homeownership, Kåre and Irene have found new ease in rental life. “People our age might be hesitant to rent, but living like this truly allows us to relax,” the couple says.
“I told Kåre that very first morning in the apartment that getting to live here felt better than winning the lottery,” says Irene Hoel (64).
A View Worth a Tour Guide
From their 10th-floor home in Tempe, the views are stunning. From the comfort of their living room couch, they can see some of Trondheim’s most iconic sights. Below, the Nidelva meanders through the city, Gløshaugen and Nidaros Cathedral stand majestically in the distance—and beyond them lie Trondheim Fjord and Munkholmen. It truly looks like a moving postcard.
“The view changes you. You feel this calm inside. We joke that we’ve moved to the countryside—even though we live centrally in the city. Up here, you can’t hear a thing,” shares Irene, speaking of their bright and space-efficient 59 m² apartment.
Kåre and Irene have spent most of their lives owning a home. It’s been a while since their three sons moved out of the duplex they owned in Stubban, Trondheim. With more space and time to themselves, they began to consider their next move. Should they downsize and simplify—or stay put?
“We know people who renovate and expand when their kids move out. But for us, renting a smaller home felt like the safest choice—and we’ve never regretted it,” says Kåre Hoel (67).
Why Kåre and Irene Chose Renting
The “Senior Millionaire” of Real Estate
According to Statistics Norway (SSB), about 76.4 % of Norwegian households own their home. Rising interest rates and living costs have made mortgages significantly more expensive in recent years. Since 2017, housing-related expenses have nearly doubled, per the Homeowners Association.
He observes that long-term homeowners have often benefited from huge property value gains—making them, in effect, “senior millionaires.”
“If you’ve paid off a home over many years, you could be a senior millionaire. But many who sell end up buying again and incurring new debts, resulting in less flexibility—despite that wealth,” he explains.
Access to new, centrally-located rentals is part of Trondheim Municipality’s housing strategy. Frost Eiendom currently manages nearly 750 rental units. Next year, a new building at Ola Frosts veg 5 in Tempe will add 116 more.
Ola Frosts veg 5 Highlights
Norway’s population is aging. The number of residents over 70 is projected to rise to 1.4 million by 2060—up from around 670,000 today—and most will live in cities. Trondheim is expected to grow by 45,000 people in the next 30 years.
“In the years ahead, we absolutely must think creatively about housing for everyone. We need to maximize every square meter and develop smart concepts that make it easy to meet, stay active, and feel connected—especially as we age or live alone. Ola Frosts veg 5 will be a wonderful place for anyone—young or senior—to live well,” says property manager Gunn Utnes at Frost Eiendom.
A Carefree Lifestyle
In 2019, Irene and Kåre became renters in Tempe for the first time. Last fall, they moved into their 10th-floor apartment. Kåre recently retired, and Irene—formerly a nursing assistant—now receives disability support due to illness. She’s grateful to live within walking distance of treatment at St. Olavs Hospital. The couple cherishes a worry-free life with no maintenance responsibilities or repair liability.
