Americans over the age of 65 have the highest homeownership rate as of 2016, and here in Florida, many of those homes are waterfront homes. That’s because Florida has long been a favorite place for many Americans to retire.
And it’s more than just the sunny weather and warm climate that attracts retirees. There are a surprising number of other reasons why retirees have been choosing to move to Florida for decades.
Are you or a loved one considering the big move to the Sunshine State? Here are four reasons why Florida is still one of the best places to retire.
- No income tax
In the state of Florida, there’s no state income tax, estate tax, or inheritance tax. This makes Key West real estate especially attractive to those who have a higher income. However, it’s also great for those who are retiring on a fixed income and aren’t able to afford state taxes like they used to.
- Lower cost of living
Not only is there no state income tax in Florida, but it’s also significantly cheaper to live there. Homes for sale in Key West and other parts of Florida are cheaper than real estate in other places like California and New York. What’s more is that entertainment and eateries are also lower in cost, which means you won’t have to sacrifice quality of life for the sake of your budget.
- Warm and stable climate
It’s always nice to have a variety of seasons, but not so much when those seasons can get more extreme. This is especially true as you get older and you’re not as capable of shoveling heavy snow like you used to be. In Florida, the lowest the temperature will get is an average of 60 degrees Fahrenheit. You won’t have to worry about icy sidewalks, heavy snowfalls, or getting sick with seasonal sniffles. And while there is heat, it’s nowhere near as extreme as the brutal temperatures of Arizona.
- Lots of activities and relaxation
Whether you enjoy a long day at the beach or love to explore museums, restaurants, and science centers, Florida has a wide range of activities available for you and your family. You never have to worry about being bored or looking for a place to take a breather. And because of the large community of retirees in Florida, it’s easy to find like-minded people looking to enjoy their retirement to the fullest.
Florida is a great place to retire for many Americans. If you or a loved one is considering retiring to Florida, contact Cory Held today for more information on Key West real estate.