I know there are several retired people on here. We are looking to retire in 2-3 years or so after the youngest graduates HS in 2021 and the house is paid for. Looking for warmer, low taxes and fees and stuff to do. Multi- Car ownership friendly is preferred, waterfront would be nice too. Trying to not be too out of town stupid in the search. I have been looking in SW Florida, Texas and the Carolinas. Getting tired of winters. Kids haven't all landed yet and am guessing they will be all over. So for those who have made the jump, the good, the bad, the ugly and the really great part. I'm asking here because this group has a better perspective on the auto side of things, it's easy to look up tax rates and plate fees, but that doesn't always reflect the on the ground reality.
Florida touts no income tax but their property taxes will make up for it, and good luck with insurance rates. You should look into GA, TN, and AL in addition to the Carolinas and TX.
How do you define winter? N.C. has snow in the north and west. From Raleigh southeast it has very little snow. For example, this winter we have had no snow on the roads but we have seen a few flurries and ice pellets as recently as this morning. I would say try around Georgetown, S.C. which is south of Myrtle Beach but north of Charleston.
Louisiana has low property taxes, low state income tax, but car insurance will kill you. I'm here, but know that multi car ownership might be very difficult. Of course if you go through Hemmings that might alter things. I have friends that have moved to the Carolinas and they love it.
Moved to SW Florida three years ago. Real estate taxes 1/3 of Massachusetts (to be fair, smaller house 1,900 sq. ft. vs 2,400 sq ft - but a two car garage here). No income tax. Florida is one of four states that we can live in besides Massachusetts. Our pension was paid for with after tax money, so if we lived in a state with an income tax, we would be paying an income tax on money that we have already paid the tax on. Our choice was Massachusetts, New Hampshire, Tennessee, Arizona,and Florida. Arizona is too hot and dry. The choice was obvious.
I've lived in Pa, Ky, SC, Ga, Tx and Florida (for the past 35 years). The nicest people were in Pa and Tx, Fl is OK, low taxes, summer gets old but the winters are great. If you stay away from Tampa and Orlando the real estate is reasonable. I heard there is a community in NC for auto restorers with a fully equiped shop but it's expensive.
South Florida, a resident since 2006, no income tax, car insurance is higher than Illinois, crazy drivers down here, property taxes are lower, homeowners is a little higher with the hurricane insurance. You can not beat the sunshine and warm weather. I personally looked from California to Florida and it was an easy choice for us. Jim
One advantage, actually two to southern new Mexico and Arizona. Little humidity (it does rain some) and no hurricanes
South Florida: people also seem to forget that using A/C in the summer and opening the house in the winter is also way cheaper than heating a house way up north. Now if you a/c you house like an igloo year round, well.... Roads are crowded but hey, I have hit like two potholes in thirty years down here. Go inland and a little further north and houses and land get even more reasonable. Areas north of West Palm are where people head now on the east coast. Just getting pricier.
Thanks for the replies so far. Currently high tax state for both real estate. 2-2.5% and income 5%. I'm comparing taxes and insurance on an equivalent valued house to what we have now. What about personal property taxes?
Im in North Florida. All the benefits of S Fl with a fraction of the congestion. We're an hour away from the gulf so not much worry from tropical storms.
The initial registration of a car is more expensive here in Florida then in Massachusetts (!), but after that it's about the same. No $39 ripoff motor vehicle inspection here either. Insurance is a bit more expensive and protection from uninsured motorists is a must - almost 25% of the drivers down here don't have insurance. We only air condition at night, so heating/cooling is cheaper, but the pool pump and heater make up for it. No snow and in the last three years no freezing temperatures. House insurance is less expensive (then MA) here but you need hurricane insurance which is not included. Hurricane insurance more then doubles the cost of homeowner's insurance. Food is slightly higher here then in Massachusetts, but if you are careful about taking advantage of sales and "buy one, get one free" promos it's about the same. Public education is better here now then it used to be, but it doesn't compare with Massachusetts. Probably not an issue if you are retiring here.
COL in Chicago will kill you as an annuitant. We moved 200 miles north (partly due to demographics) which followed us. Summers are beautiful albeit short here, and winters suck. Hunker down and deal with it! Theres no place perfect, just seasonal. At 70F here in August we have the AC blowing. Its humid on the lake(s). Talk to Luke about high range living. If I didnt need the water for my boat stuff, thats where I'd be. I'm a AQUAholic. ws
From reading these posts, it seems every state has a trade off so to speak. Warmer climates= A/C costs soar, but heating goes down. No state tax but they get you on property tax. Storm (hurricane) ins. Choose a climate you want to live in, and whatever the costs are, they are I guess. Extreme example is a primitive cabin in the forest, no electric, gas, water, sewer, electronics, generator, food (have to hunt) no modern amenities at all. You could pretty much live off the grid for next to nothing, but you'd work your ass off. Start adding amenities, your going to start paying. Everything costs money, nothing is free, if it is they (government) make up for it elsewhere
We’re in nw Florida right on the Gulf of Mexico. Great area to retire in, modest home costs, insurance, etc. good place to relax on white sand beaches. No spring break issues for the most part(they like going further south) and the only issue in Pensacola is that growth is outrunning the infrastructure’s ability to handle it. Forever road construction expanding things to handle traffic loads. I’ve retired twice now and working on a third. Bought our last house almost two years ago. Yep, we’ll stay!
Great inputs. Yes no place is perfect and all have pro's and cons. Mid Atlantic states are in play, Tenn around Knoxville is one I look forward to exploring. We will be in NC a bit this summer and will be looking there. Daughter's college hunt that officially starts later this year will be a dual function endeavor. The Mrs insists on where ever we land there is plenty to do, good medical care is available and desirable for the grand-kids to want to come and visit. I doubt any place talked about so far has property taxes like I currently have combined with the income tax rate. Some area's "High Property Taxes" are considerably less than on similar valued property in my local area. You NJ guys know what I mean.
Equivalent valued homes may get you very different things between there and where you are now. In Texas, 350k can get you a lot of house. In much of the Northeast, outside of rural areas not so much. In other words, a good starting point comparison, but only as a high level indicator.
Florida has put all of it's transportation infrastructure in the form of roads. Here in Collier county there is constant road widening going on. Someone (us) has to pay for it. It is my opinion that I-75 will have to be widened to the standard of the Northern NJ Turnpike if the guvment is serious about hurricane evacuation in SW Florida. The same is true of I-95 on the East coast. They are working on I-75 now, but they are only doing three travel lanes each way; not nearly enough.
