Where to Live in Retirement: Ask Yourself These Six Important Questions

Deciding where to live in retirement is more than just choosing a location; it’s about finding your ideal lifestyle.

One of the best things about retirement is that you get to choose where you want to live.

With your working years behind you, you can select a location that enables you to enjoy your golden years to their fullest. While you may be wondering, “Where should I live when I retire?”, it’s important to recognize that there is no one best answer. Beyond the key consideration of proximity to loved ones, other important factors like taxes, access to healthcare, amenities, and more should come into play. The criteria will vary from person to person, too. No single location fits every retirement dream―and there are plenty of charming places to be found. In the end, choosing a retirement destination is a deeply personal decision.

Here are six important questions to ask yourself as you consider where to live in retirement.

1. Is the cost of living and housing affordable?

A generation ago, climate was the primary concern for retirees seeking a new location. Today, financial considerations carry much more weight. Who wants to spend their golden years worrying about their next house payment and scrambling to make ends meet? Strive to retire where you can comfortably cover your bills and have a little bit left over for fun.

2. Are quality medical care and nursing facilities available?

In the early retirement years, healthcare may not be your top priority. But as you age, access to high-quality hospitals, physicians, and decent nursing homes will become crucial. Investigate the services that are currently available in the area you’re considering, as they are a good indicator of what you can expect in the future. A full-service medical facility should also be within a reasonable driving distance.

3. Can I tolerate the climate year-round?

Many people dream of escaping long, harsh winters and putting their snow shovels away for good. But before you head south, make sure you can tolerate the sweltering summers and frequent tropical storms and hurricanes that often occur in coastal states. These climate phenomena are have grown in number and intensity in recent years, making it essential to consider not only your comfort with heat but also your readiness to handle extreme weather events.

4. How much will I be paying in taxes each year?  

 A range of scenarios can come into play and they vary by individual and location—property taxes, income taxes, taxes on retirement income, and more. Currently, seven states don’t have personal state income taxes, while another 20 offer favorable tax breaks on retirement income. The numbers are subject to change so it’s advisable to check recent state tax guidelines for updates. It’s also important to note that if a locale’s taxes are dirt cheap, important services like healthcare, infrastructure, and transportation may suffer. Focus on the big picture rather than solely to save on taxes.

5. Is there a strong community vibe?

A sense of community can greatly enhance your retirement experience. Consider the friendliness and engagement level of the local population. Are there opportunities to meet new people through clubs, social gatherings, or volunteer opportunities? A supportive community can provide companionship and a sense of belonging, making your retirement more enjoyable and fulfilling.

6. Are amenities available to support my lifestyle in retirement?

Envision what how you’ll spend your days once you retire and look for a place that provides those opportunities. Do you enjoy dining out or trying new international cuisines? Find out what the local restaurant scene has to offer. The same holds true for adult education classes, golf courses, concert venues, or any other important aspects of your desired lifestyle. Ease of transportation, whether it’s the amount of traffic or the availability of public transportation for seniors, are important lifestyle factors to evaluate, as well.

Keep these tips in mind as you search for your ideal retirement destination:

• Check out your top contenders. Start long before retiring and visit each of your preferred locations. Once you’ve narrowed your choices down, spend a month at each one to experience the pros and cons of day-to-day life there.

• Rent in your prospective retirement location for a year. That will allow you to determine whether you’re going to enjoy the area while giving you time to discover more about the local housing market.

• Don’t rule out staying put. According to recent statistics from the U.S. Census Bureau, nearly half of those age 65 and over choose to remain in their locale. If your current hometown is affordable, close to your friends and family, and offers the activities you enjoy, why move just because you’re retiring?

Moving to a new location after you retire can be the beginning of an exciting and rewarding next chapter. It’s also a decision that requires extensive research and a clear vision of how you want to spend your golden years so you can make the best choice.

Whether you’re looking to move across the country or downsize down the road, the experienced professionals at Certified Title are here to help. We can provide the valuable tools and information you need for all types of residential and commercial real estate transactions. To learn more, please contact our experienced team today.

About Certified Title Corporation: Since 1994, attorney-owned Certified Title Corporation has been furnishing residential and commercial real estate stakeholders across the nation with robust title insurance, settlement, and escrow services. Renowned for its industry-leading reliability and exemplary level of service and quality, the Maryland-based company helps clients from all walks of life achieve their asset goals. To learn more, call (888)486-5511 or visit https://www.certifiedtitlecorp.com/.