Best Places to Retire 2012/Buy a Retirement House under $100K

jennypenny · Post by **jennypenny** » Tue Oct 25, 2011 4:12 pm

http://money.usnews.com/money/retiremen ... 2?PageNr=1
I thought it was interesting that Pittsburgh and Ithaca were on the list. Aren't they on the ERE city list? They also listed Flagstaff and Santa Fe for those interested in better climates. Nothing in Oregon or New Hampshire.
They also have the best places to buy a retirement home under $100K. Pittsburgh is the only city on both lists. Syracuse made this list (vs. Ithaca on the other list).
http://money.usnews.com/money/retiremen ... der-100000

nppraxis · Post by **nppraxis** » Tue Oct 25, 2011 6:44 pm

This prompted me to look up my own region. Looks like my home city has a median of ~$118. Not bad.

Hoplite · Post by **Hoplite** » Tue Oct 25, 2011 7:00 pm

Thank you for posting these links--more food for thought. I found Port Charlotte FL on both lists, though I don't know anything about the area. Both Ithaca and Syracuse are decent candidates, but both of them IMO are in the middle of nowhere though surrounded by some beautiful terrain. At some point I really have to visit Pittsburgh!

jennypenny · Post by **jennypenny** » Tue Oct 25, 2011 8:22 pm

I missed that Port Charlotte FL is on both lists. That's interesting.
Here's the trulia listing for Port Charlotte. Definitely a lot of listings under $100K.
http://www.trulia.com/FL/Port_Charlotte/

JohnnyH · Post by **JohnnyH** » Tue Oct 25, 2011 9:07 pm

Florida is intriguing. No income tax... And I love that property taxes are calculated based on FREE MARKET value. Fat chance on ever seeing your property taxes go down in most areas.
100k can get you a very comfortable house + yard in the south. The summer climate might be a deal breaker.

chilly · Post by **chilly** » Wed Oct 26, 2011 1:52 am

I'd mentioned Ithica in another thread.
viewtopic.php?t=1299#post-17274
I also have looked at Englewood FL and Venice Fl - both right next to Port Charlotte. They are probably just a tad more expensive, but you can own a house that's an easy mile or two bike ride to beautiful gulf beaches.
Both places are already on my Tour De Where To Retire list.
I also was recently looking into Santa Fe and found it pretty pricey. I guess cost is not the only factor.
Pittsfield MA... LOL! No offense... not an awful place, just funny to see on a top 10 list of anything. Jiminy Peak and lots of single ladies... I think I need to re-investigate.

dragoncar · Post by **dragoncar** » Wed Oct 26, 2011 2:00 am

Re free market tax assessment: recency bias much? Over the long run, RE should appreciate (if only modestly). Most Florida residents would probably prefer a fixed tax liability.

DividendGuy · Post by **DividendGuy** » Wed Oct 26, 2011 2:08 am

I live just north of Port Charlotte, currently in Sarasota, FL. Port Charlotte is certainly cheap, but the main drawback is that you'd have to own a car if you live there. Also, there is a lack of activities there as it's very suburban. I decided on Sarasota as I currently live in a cheap apartment along the bus line since I am car-free.
I also agree that Englewood and Venice would be nice alternatives to Port Charlotte, but from my experience both (especially Venice) would be a bit more expensive than P.C. If I was ok with having a car and also driving 40 mins to/from work I'd live in Port Charlotte as a nice home can be had for ~$80k. I'm ok with renting cheaply and living car-free for the moment though.
Also, living in FL is very nice. No state income tax, warm weather year-round and our energy bill in a 2-br apartment is very affordable when keeping the A/C at around 77 degrees. Free activities outside and it's a lot easier to ride the bus when you're not freezing outside at the bus stop.

JohnnyH · Post by **JohnnyH** » Wed Oct 26, 2011 2:33 am

@dragoncar: perhaps... I want any system that the bureaucrats can't touch.
In my area a house appraised at 2.5 million was purchased for 460k. One appraised at 216k sold for 43k. The county/state (Montana) govt summarily dismissed their appeals.
I'm going to bid on a house this weekend... The property taxes have the "market value" (haha!) at 168k. My max bid is 16.5-21k, I'd say I have a 40% chance. And I know I have to eat the taxes. It's frustrating.
Also, an actual free market system is self correcting. Houses in FL/NV are actually selling and the market can decide where prices land... I know 3 years ago I would have looked at Florida and laughed at the idea of owning a house there... In my area you have the hilarity of tax assessment literally destroying the upper end market. Almost every home assessed over 1 million is sitting vacant, and not ONE has sold since 2008.

chilly · Post by **chilly** » Wed Oct 26, 2011 4:06 am

JohnnyH... what do you mean about taxes? Is this the % increase limit? I was under the impression that it was all smoke and mirrors... a town adjusted mil rate and assessments to get whatever money it needed. So what happens in FL if they have a gross shortfall?
I know in CT it's like that... house assessments drop, then mil rate goes up... it's just a game. Out of pocket continues to climb. There's this one town - Meriden CT... a blue collar run down neighborhood that is taxed at one of the highest rates in the state. The result is very affordable houses in liveable lower middle class neighborhoods that are outpriced by taxes alone - CAP costs just based on taxes are the 5-6% range. Disgusting, shameful, and sad for the people who have grown up or lived there for a long time, and have no way to sell their houses.
@DividendGuy... that's great to hear you live in the Sarasota area. I'd be curious to hear your thoughts some time. It is definitely in my current top 5.

Nick50 · Post by **Nick50** » Sun Jan 01, 2012 7:43 pm

My friend just bought a retirement home in LA and he says he loves it. Although he has to hire a los angeles insulation contractors to do some work. He said that is the only thing that really needs work.

chilly · Post by **chilly** » Mon Jan 02, 2012 12:37 am

Spam much?

C40 · Post by **C40** » Mon Jan 02, 2012 4:09 am

Does the Median home price even matter? Is that at all representative of what you get for the money? I'm sure varying real estate prices (for similar homes) have an impact on the median price, but so do a bunch of other things, such as:

- Size of the homes there

- Condition of the homes

- How much of the city is ghetto, how much is high-end, etc..
For example, I'm pretty sure the median home price in Milwaukee is low because that city is a shithole. There are small areas of nice homes there, but a HUGE portion of Milwaukee is in really bad condition. Thus the low median price.

palmera · Post by **palmera** » Mon Jan 02, 2012 4:32 am

@chilly. For real, eh?! No link building spam!

George the original one · Mon Jan 02, 2012 4:36 am

@chilly & palmera
Silly human spammer. At least I can delete the Nick50 spam posts.