Thinking about enjoying your retirement in the sunshine state? Well, you aren’t alone. Did you know that Florida is the top relocation choice for retirees? Over 80,000 people moved there in 2016!
Want to know the secrets to a smooth move? Keep reading below for five things you definitely should know before retiring to Florida!
1. Housing May Be Expensive
What part of Florida will you move to? Waterfront homes can run you over one million dollars, especially in cities like Miami.
Don’t worry though. You can find affordable housing in areas like Daytona Beach and Tampa-St. Petersburg. These two areas are below national averages. You can easily research online using sources like this company to see current listings.
You may also get a rude awakening when it comes to home insurance. Do your research and know how often the area floods before purchasing.
2. Not All Is Sunshine When Retiring to Florida
While Florida may be called the sunshine state, the weather can actually bring about some unexpected expenses if you’re not careful.
If you aren’t familiar with the state, you may not realize Florida is actually the top state for lightning. These beautiful, but powerful strikes can cause expensive damage.
You should also be prepared for hurricanes. 2018 had 15 named storms, with two of them being above a Category 3. Unfortunately, Florida is often right in the middle of hurricane paths.
When you move, have a plan. This includes keeping extra batteries, a radio, and water in an accessible place.
3. Big Tax Benefits
If you’re looking to make the most out of your money and avoid excessive taxes in retirement, Florida may be the safe haven you’ve always dreamed of!
There is absolutely no state income tax. This means you will get to take home more of your Social Security, 401(k)s, and pensions.
Another perk? No estate or inheritance tax.
4. Make Friends with Certain Pests
Be prepared to deal with some critters. Termites, for example, are very common in Florida. Because there isn’t a true cold season, regular termite treatments are absolutely necessary.
There are also rats that scurry around. You may see them on the beach or in your yard.
Be mindful of alligators too. These dangerous creatures sometimes find their way into backyards or into pools. If you are worried about this, consider installing a fence!
5. Be Prepared for Tourists
Florida is a popular vacation spot. With miles of beach and famous amusement parks, be ready to share your new home with tourists. Millions of people visit the state each year so you may want to relocate to somewhere outside the big hot spots.
Expect more traffic during the summer months when kids are out of school and family vacations start happening.
Get Ready to Make Florida Your New Home
Now that you’ve got these ideas in the back of your mind, you’re in good shape for a smooth move to the sunshine state!
Looking for more information on retiring to Florida and designing your new home? Check out the top ten interior design trends you won’t want to miss!