When people retire they want a peaceful life. They do not want to be bothered with shoveling show, cold weather, and aching bones. Retirees go to Florida for the warm weather and peaceful living. Before making the move there are some things that a retiree should know about living in Florida and what to expect from retirement living Central Florida.
Florida is Crowded
Currently, 3.5 million people are living in Florida that is over the age of 65. By 3020, Florida is expected to have 6 million people over the age of 65 years old. There will be a lot of seniors around and retirement communities are expected to fill up quickly.
The Sun Does Not Always Shine
While many moves to Florida for the weather it is not always sunny. Florida has frequent thunderstorms and sees the most lightning out of all the United States. Florida is also right in the way of hurricanes. June 1st to November 30th is considered to be hurricane season. Over the years, hurricanes including Michael and Irma has caused billions of dollars in damage and killed several people.
Florida is a tax-friendly state for seniors. Retirees do not have to pay a state income tax and they do not have to pay taxes on retirement income such as Social Security benefits and pensions. There is no estate tax or inheritance tax. In order not to pay these taxes a retiree needs to show they live in the state for at least 183 days during the year. They will need proof of this. Proving residency can be as simple as getting a library card or opening a local bank account.
While there are many upscale communities the average single-family home is affordable. If the senior lives outside of the city they may be able to get a home for around $160,000. They can even get a waterfront property in Tampa Bay for just over $200,000. This is much less expensive than other coastal cities.
While the homes may be cheaper in this state it is expensive to insure the home. In this state, a person needs to pay between 2 and 5 percent of the damage if the home is damaged by a hurricane. A person also needs to make sure they have hurricane damage to their insurance policy. The home inspector will require that the property have construction features that can stand up to strong winds to even offer a home insurance policy. A homeowner will also need to make sure they have additional flood insurance. This is not covered in the standard policy and will cost extra. The National Flood Insurance Program does offer this coverage.
Things that Creep and Crawl
Florida has its ecosystem and seniors are not the only ones attracted to the heat. Terminate are a major problem in this state. A person needs to keep in mind they will need to pay for treatments to keep these pests away. There are over 1.2 million alligators in this state and a senior has to be prepared if they decide to go for a swim in their backyard pool. It is also not uncommon to see an alligator strolling in the golf course. Panthers also come around.
While they often do not attack humans a senior will need to keep an eye on their pet or livestock. These are some things seniors should know about Florida before making the move. This will help them make an informed decision if this is their ideal state to retire to.