How to Choose a Place to Retire?

Retirees have much to look forward to…traveling, relaxing, spending time with family, pursuing hobbies, etc.  People often look outside the city they currently live to find a place they can move to in order to “retire in style”!  Many move closer to family or to resort and coastal areas that offer amenities for those with much time on their hands.

Many retirees are also planning to downsize from a larger single family home to enjoy the amenities offer by new condos across the country.  New condo developments in areas like Jacksonville for example offer resort-style amenities that give the owner more than living in traditional master planned community could offer.

The St. John, for example, will be a 51-story soaring glass tower containing 300 luxury residences, and will rise nearly 582 feet over the Southbank of the St. Johns River.  The St. John will be the preeminent address for homeowners who want to enjoy the beauty of the St. Johns River in an urban setting near Jacksonville's core, as well as within walking distance of San Marco.  Amenities include a riverfront fitness center and an eighth level club room that opens to a dramatic elevated oasis pool deck with a tai chi lawn, lap pool, private cabanas, and an outdoor summer kitchen.  No this is a place to retire to!!

Another great Jacksonville condo tower coming soon is called Shipyards and is designed to offer the types of amenities that those moving from more suburban settings would expect.   The LandMar Group has planned these new Jacksonville condos as a community where all residents share a vast array of amenities typically found only in suburban locations. From beautifully manicured entrances, grounds, parks and gathering areas, to expansive recreation facilities including spas, pools, clubhouses, fitness centers and a marina.

Planning a move can always be a daunting task, but planning a move to the place you want to spend the rest of your days needs to be dealt with carefully.  Specific questions need to be asked about your destination (let’s use Jacksonville, FL as our example):

What's the cost of living in Jacksonville?

Retirees often like to move to states with no state income tax…such as Florida and Texas.  Sometimes that actual cost of living in these areas however negates the savings one might expect by not paying income tax.  In Florida, there may be no state income tax but the actual cost of living is very high.  Jacksonville however is a city where the cost of living, as compared to other cities like Ft. Lauderdale, is relatively low.

Gas prices can vary drastically as well from city to city in Florida…as it does in most other states.

Does the city you choose have two faces?

Last year, Americans bought a record 1.07 million vacation homes…most of them condos - 14 percent of all homes sold, according to the National Association of Realtors. 28% of those people said those homes and condos would be their primary residence.

Many of the retirees in recent years that have made the move from the Northeast down to Florida, have found that the summers are too hot and the distance is too far away from relatives.  Some of the se people end up moving back or at least moving half way back to areas like South Carolina (Myrtle Beach).

Will you be bored in your new city?

You definitely do not want to choose a place so remote that you will have nothing to do.  You need to plan what you would envision yourself doing during the day and nights so you can match yourself with the correct condo development and location.  Many developers of Jacksonville condos are offering more amenities for active adults.

Is there good public transportation?

About 20% of retirees over the age of 65% do not have driver’s licenses any more and need easy access to public transportation.  Many cities now have great railway/train systems that access most major dining/shopping/entertainment districts.   

How far is it from family and friends?

This should probably be the first question you ask yourself.  How important is it to be close to family and friends.  If there would be travel involved to see family, who is doing the traveling…you or them?  Is it affordable for both sides of the family?

Should I buy a house or a condo?

This decision in contingent upon personal financial situations as well as preference in lifestyle. Single-family houses tend to cost more but offer more space and privacy. Condos usually provide more amenities, and exterior maintenance is handled by a homeowners association.

How many square feet do I need?

Traditionally, people over the age of 55 need less space.  The children are generally out of the house…you hope…and you don’t need as much space to live in.  This is why condos are an obvious choice for many people and offer the beauty of not having a yard to maintain!

There are more things that people should look into before planning their move to a condo in Jacksonville, or any other desired retirement destination…this is just a good start.