Question for retirees who moved to a lower COL area

[jaminmd]

DH is eligible to retire soon. DD is only in 7th grade so we may wait to move but who knows.

For those of you that are already retired, did you move to a lower cost of living area? We live in the suburbs of DC & Baltimore and it is expensive & congested. I grew up in a rural area (which isn't rural anymore) and I have always hated that my neighbors can hear me sneeze if the windows are open. I live in a typical subdivision & around here to get more privacy, you either need to buy an old ugly house or one that is too far out of our price range.

So, anyway, when DH retires we would like to downsize. We don't need a big house (not that we have one now) and I would like a minimum of a half acre but I know that may not happen. I'd really like a 55 and over community but it has to be in an affordable area. My in-laws live in one in NJ & between their property taxes & condo fees, it is like they are paying a monthly mortgage again.

We prefer cold over heat, so New England is a consideration. Any experiences here from those who've gone from a place like MD to a lower COL area? I'd love to buy a smaller home, enough just for our needs.

Thanks!

 

[vettechick99]

I'm not a retiree but I went from Atlanta to a very, very small, rural town in southern GA. We bought a bigger house for half the cost of our apt outside of Atlanta. We have an acre+ and lots of space between neighbors. It's so nice!

 

[jaminmd]

I'm not a retiree but I went from Atlanta to a very, very small, rural town in southern GA. We bought a bigger house for half the cost of our apt outside of Atlanta. We have an acre+ and lots of space between neighbors. It's so nice!

That sound so nice! That is what I'd like, to sell my house & be able to purchase a new one outright.

 

[wdwfan16]

You need to consider the school district for your DD. We live farther out and love it. There are drawback to being farther out. If it was me I would only buy a home that I could own outright and that the cost to live there was very low.

For the 55+ community you might not want that with a 7th grader. Some will not allow kids and the ones that do will have mostly older people so you DD will not have friends close by. This is also true if you live in a rural area.

 

[jaminmd]

You need to consider the school district for your DD. We live farther out and love it. There are drawback to being farther out. If it was me I would only buy a home that I could own outright and that the cost to live there was very low.

For the 55+ community you might not want that with a 7th grader. Some will not allow kids and the ones that do will have mostly older people so you DD will not have friends close by. This is also true if you live in a rural area.

If we went that route, we'd definitely wait until DD goes to college. DH drives to DC daily so he doesn't want to move further out due to the commute, which he really hates after all these years. We have an excellent school system here, so I don't want to pull her out of it. I'd still love another part of our county, though.

 

[jaminmd]

bump

 

[GeorgeG]

I retired and moved from New York to Florida. It's the best thiing I ever did. We live better hear on a pension than we did on full salary in New York.

Florida is full of 55+ communities and some even have larger lots. It all depends on how much you want to spend. A lot of friends here actually prefer smaller lots. We're set up so we still have more privacy and quiet than a typical neighborhood with younger families. There will always be trade-offs, but most people here don't spend a lot of time out in the yard, except for working in the gardens.

 

[Simba's Mom]

Although we haven't, lots of retirees have moved to our area-one of the lowest COLs in the country. Everyone who's moved here loves it-except me. We moved here while DH was still working, and it's so hot!

However, we did downsize and are extremely happy we did that. Went from over 3000 sq ft to 1800 sq ft.

 

[RangerPooh]

While we are no where near retirement age we moved from the CA bay area to WA state due to the cheaper cost of living. What DH and I were able to buy there would have only been a downpayment had we remained in CA. Although since having accepted a job in MD we're once again in a higher COL area, and eagerly awaiting when we can retrun to WA.

 

[Christine]

No real help here but one thing to consider when looking for a location is access to medical care. Many rural, low cost areas do not have it (and many do) and, as you age, this becomes important.

I know a few people around the DC area who retired to the Eastern Shore or to the Chincoteague area of Virginia. They have really had travel far for medical care with cardiologists and specialists like that. My other coworker has had a terrible time with a bronchial issue and has had to travel to Baltimore from the Eastern shore for care.

This is something you want to look into when your retire to an area.

 

[Cheshire Figment]

Because of the way laws are set up, a 55+ community is not allowed to have anyone under age 18 as a permanent resident. A person is allowed to have chilldren under the age of 18 as a guest, but no one child may spend more than 30 days per calendar year in the development.

One of the reasons concerns taxes; in Florida there is an "impact" fee charged for all new residential units. These fees cover infrastructure increases. When I purchased here (in a 55+ community) I had to pay fees which were involved in roads, fire and police stations (which came to over $2,000). However, I did not have to pay the $9,000 county education impact fee as my community does not (and cannot) have anyone attending an elementary or high school.

And we did have a situation a couple of years ago where a child's parents died in an automobile accident and the grandparents, who lived in the development, suddenly found themselves as the child's guardian. They were given a temporary waivedr, but they did have to move out of the community within six months. Their moving out was a legal requirement;; if they were allowed to remain it would have had adverse tax consequences on the entire community.

So as long as you have a child under age 18 you will find that you cannot legally buy into or move into a 55+ commiunity.

 

[mikki'smom]

Do your homework...check out Lake Guntersville in North Alabama...if your husband enjoys fishing then he would be in heaven...it's worth a "look see"

 

[My2Cinderellas]

preferring cold to heat and good schools on a budget says the Midwest to me - but there aren't really any 55+ communities, at least here in Iowa. Many retirees here spend winters in Arizona/south Texas/Florida to get away from the snow.

My parents retired to a gated community in Arkansas - it is geared towards the 55+ crowd but does not exclude younger folks. You can choose to be in a neighborhood area or out in the woods by yourself. The schools there are crappy though. And it is 30-40 minutes to the closest hospitals and first level of specialists - closest major medical center is over an hour away. But if you want cheap - they bought their house outright and the taxes are very very low compared to most parts of the country.

 

[golfgal]

I wouldn't commit to anyplace any time soon as things can change in 10+ years. Florida used to be a low cost of living area but with property taxes and homeowners insurance, that has changed.

I agree that the midwest deserves a thoughtful look. I would suggest the Sioux Falls, SD area. There are no state income taxes, Sioux Falls is large enough to have everything you need but not so large you have to deal with traffic headaches. They have marvelous medical care there as well, plus a nice small airport that you can get to and from everywhere in the world easily. Any of the towns in SD, MN and IA within an hour or so of Sioux Falls would be options if you wanted to go more rural and smaller.

My Dad and Step-Mom live outside of St. Louis, MO and the cost of living there is dirt cheep. The trade off is that the schools are awful but if you wait until your DD is in college that won't matter.

 

[Simba's Mom]

Do your homework...check out Lake Guntersville in North Alabama...if your husband enjoys fishing then he would be in heaven...it's worth a "look see"

We're planning to take that look-see at Guntersville next year. DH loves to golf and you can't beat Alabama for that! He's golfed in Alabama many times and always loved it.