Real Estate Costs in Retirement

The largest chunk of any person’s cost of living in retirement is their primary residence.

Real estate costs eat up more than any other category, especially when you factor in real estate taxes, school taxes, and maintenance. Some retirees opt to rent a home or apartment, rather than having to pay the taxes of owning a home while putting their down payment money into a growth account to supplement their income.

Other retirees opt to move to the states with the least amount of real estate taxes possible, or with homestead exemptions, which includes South Carolina. State and local taxes are relatively low in North Carolina and South Carolina.

Choosing to live outside the boundaries of incorporated cities and towns can help lower your tax bills substantially. Also, pay close attention to the school taxes you’ll be responsible for, and insurance rates for the area you choose. And as many seek to live near the ocean, lake or rivers, living near the coast or in a flood plain doesn’t make much sense when it’s time to pay the insurance premiums.

Before you decide upon your best place to retire, make sure you visit the local and state taxation websites or offices and speak with your insurance agent.

Be sure to visit our products section.  There you'll find Special Reports, In Dept Reports, North Carolina Communities Directory, South Carolina Communities Directory and   "The Ultimate Guide to Finding the Best Place to Live  in the Carolinas."

You'll learn about the cost of living, affordable housing, climate, jobs, taxes, good medical care, low crime rate, cultural events, schools, local attractions, recreational activities, and much more about North Carolina and South Carolina.  And when you get the Ultimate Guide, you get a one on one consultation with me.  Let me help you create your own list of the Top Ten Best Places for you to Retire or Relocate.

About Bob Bencivenga

Bob  Bencivenga is a professional site locator and location anyalyst for major corporations and been researching the growth of NC and SC to find those areas which are affordable. Visit his blog and signup free to  get blog updates by email, along with free advice on how to relocate or retire in the Carolinas, additional resources, and a lot more!  Go now to www.placesofvalue.com.  Bob does not sell real estate.

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