retiring in north carolina pros and cons retiring in north carolina pros and cons

Low Population 4. While most of these are meant for hikers, there are options for mountain biking or horseback riding. Consider how much of your income is spent monthly on food, utilities, healthcare, house maintenance, and homeownership costs. Either way, since most seniors seek to build a home in a place with moderate weather, North Carolina is an excellent choice or at least a much better choice than Florida or New York. She has written copy for both digital and print pieces ranging from blogs, radio scripts and search ads to billboards, brochures, mailers and more. North Carolina is certainly an interesting state. However, its important to remember that the cost of living varies from state to state. All this to say, both the outdoor recreation and road trip possibilities are endless while living in North Carolina. Heck, it wont take long after moving to North Carolina for you to realize the vital role BBQ plays and that folks are willing to defend the honor of their preferred style. The Friendly Community Feeling #6. These same mountains include fishing, boating, whitewater rafting, and rock climbing. Although the cost of senior living may seem daunting at first, a second glance may reveal something different. The answer is yes, between the affordable housing market, low cost of living and unmistakable southern hospitality, living in North Carolina is living life on easy mode. The Appalachian Mountains stretch across most of North Carolina and provide many hiking trails. The Median income in North Carolina is about $56,000. If you consider yourself a nature nut, you will love living in North Carolina. The low property taxes in the state are one of the reasons for the below-average housing costs. But there are still notable drawbacks to retiring in North Carolina. One of the most significant disadvantages of retiring in North Carolina is a lack of public transportation. . Many folks are surprised to learn that North Carolina the 3rd most hurricane prone state in the country. Although North Carolina has several world-renowned hospitals, not all citizens have the same level of access to health care. This climate diversity means that there's something for everyone regarding retiree weather. Know what that means? Brevard. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. Americas Health Rankings. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. Truthfully speaking, the friendly community feel took some adjusting at first because Ive mostly lived in large cities where being greeted by name was deemed unusual. One of our content team members will be in touch with you soon. Most of all, retirees with eyes on West Virginia must weigh the pros and cons of rural living. (n.d.). Expats, digital nomads and retirees living in North Carolina responded: "People who live in North Carolina enjoy the mild climate, the beautiful beaches, and the friendly people. North Carolina may be most known for its scenic mountain ranges, but it also has plenty of beach options with 322 miles of coastline. The Appalachian Mountains run through western North Carolina, providing ample hiking, camping, and fishing opportunities. The states property tax rate stands at 0.77%, which means that a homeowner has to pay around $770 every year for every $100,000 in home value. Not only will you get amazing service when you visit the store or supermarket, but youll also receive kind gestures from random people you bump into on the streets. Save my name, email, and website in this browser for the next time I comment. As for my favorite BBQ joint? The answer really depends on what youre looking for in retirement since each state offers different benefits. Best known for the Blue Ridge Parkway and the Appalachian Trail, the mountains of North Carolina also boast stunning waterfalls, one of the oldest rivers in North America, farm-fresh foods, and even some of Americas best craft beer. Now to answer the big question: Is North Carolina a good place to live? Read More. YOUR DREAM RETIREMENT ON YOUR BUDGET From traveling the world to exploring your own backyard, Leisure Care living is fun and easy. The states property tax rate stands at 0.77%, which means that a homeowner has to pay around $770 every year for every $100,000 in home value. North Carolina Pros And Cons; North Carolina Pros And Cons. The lack of proper public buses, trains, and other modes of transportation make it challenging to travel and explore different parts of the state. So Ive told you home much I enjoy the mild winters after moving to North Carolina, but Id be doing you a disservice if I didnt mention the blistering hot summers. Otherwise, it will be difficult to visit the beautiful beaches and mountains. We appreciate your feedback. Pros & Cons of Living in Asheville North Carolina. Overall Score. 5 Reasons to Consider Buying a House in Boone, NC Youve come to the right place. Pros of Living in Asheville #1. Pros of Retiring in Virginia: Robust Economy: Even though the COVID-19 pandemic considerably affected the state's economic growth, Virginia still remains one of the US's strongest economies. Required fields are marked *. Reidsville. And the next 10 years are predicted to bring even more growth. Local venues often have bluegrass and country music bands creating a folk atmosphere. amongst states with the highest per capita tax. Copyright © 2023 The Honest Local | This post may contain affiliate links - read our Standards, Corrections, & Privacy Policy. The hurricane season hits North Carolina from June to November. Property taxes vary from county and municipality. South Carolina Low Cost of Living. IBM WatsonHealth named it a Top 50 cardiovascular . Roxboro. North Carolina may not be a state traditionally thought of when it comes to retirement, but its popularity is on the rise. South Carolina, a state with plenty of history and marshland was actually not discovered until a while after North America had been founded. When it comes to weather, North Carolina has the best of both worlds. Both the Carolinas rank pretty high on the list of potential retirement homes for seniors. Then we verify the facts with original reports published by those sources, or we confirm the facts with qualified experts. Lexington style BBQ (also called Western style) uses only the pork shoulder and employs a ketchup-based red sauce perfected with vinegar and spices. The moderate temperatures mean that the outdoors can be enjoyed year-round, keeping retirees active and engaged. There aren't enough regular buses, trains, and other means of transportation to allow you to travel and explore different areas of the state. Considering the states population and big cities, North Carolina has an affordable cost of living for many retirees. This can be attributed to several factors, including a lower-than-average cost of housing. One of the largest is Brunswick Forest, which is located outside of Wilmington. In 2021, MERIC data ranked North Carolina as having the 24th lowest cost of living in the US. Dont hesitate to reach out with questions, Im here to help! According to How Stuff Works, "the average cost of living for a retired couple in South Carolina is about $37,000 a year," which is significantly lower than many other states in the US. Winston-Salem. One option that stands out is Hendersonville. Whether youre looking for directions or recommendations for a good restaurant, the locals will be more than enthused about helping you out. The Outer Banks' positioning on the east coast makes them more susceptible to direct hits or brushes from tropical storms that ride up the East Coast. Heck, take a road trip to Great Smokey Mountains National Park (the most visited national park in the country!) The median home cost in the city is $260,000, but you can save some by relocating to Durham if you prefer. JG Wentworth is well known across the country for its structured settlements, and was first founded in 1991. Again, it's about researching the specific community you're interested in living in as many areas have low crime rates. A popular getaway for beachcombers, the Outer Banks is ideal for climbing sand dunes, cruising the ocean, learn more about history, exploring nature, and more. Moreover, given the vast and diverse landscape, you can engage in a myriad of outdoor activities, such as visiting the beach or trekking, completely free of cost. However, the state has some potential downsides to retiring that you should be aware of before moving to North Carolina. Explore the local galleries for hand-crafted pottery and other creations. South Carolina Is Tax-Friendlier to Retirees Than North Carolina.Kiplinger ranks South Carolina as one of the most-friendly states for taxes on retirees. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our free weekly newsletter. Eastern BBQ calls for the smoking of the whole hog (minus the snout) before finishing with a vinegar-based sauce. Please wait a moment and try again. Social Security Income is exempt. No matter your preference, you're sure to find it in North Carolina. Thats our promise. 771 Words 4 Pages. Since they live in a gorgeous state, youll find most people casually walking around looking happy and enjoying life. We'd love to hear your thoughts. 2. Pros of retiring in North Carolina Beautiful scenery Diversity in locations Low cost of living And the state has the added benefit of generally affordable housing and a low cost of living, even within the cities. North Carolinas Medicare quality ranking reflects the availability and effectiveness of Medicare Advantage plans in the state, which are sold privately and are available regionally. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. [ See: The Best Places to Retire in 2022. ] District of Columbia costs $2,324 to rent. North Carolina is home to a thriving arts and culture scene. A few of the most popular include the Riverfest Music Festival, the NC State Fair, and the Charlotte Folk Festival. The cost of senior living in North Carolina is fairly consistent across the state, coming in at $3250 per month for assisted living care, below than the national average. Summers on the beaches, winters in the mountains, breathtaking views in the fall, and beautiful blooms in the spring North Carolina has it all. If you need help pricing and building your medicare plan, call us at 844-572-0696. True to form, locals focus on getting to know their neighbors and building a sense of community. . Sauna-quality humidity (yay!). It also has a lot to offer retirees, from big cities to tightknit mountain communities. An amount below 100 means North Carolina is cheaper than the US average. We can be reached via email at contact@retirefearless.com. One of the benefits of retiring in North Carolina is that the state offers tax breaks for seniors. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. Are you considering buying a house in the mountains of North Carolina but arent sure where Read More, 8 Best NC School Districts for Buying a House Worth mention: The flat 4.99% state income tax is one of the lowest in the country, further adding to the lost cost of living in North Carolina. 201-447-2212 171 E. Ridgewood Ave. Suite 205 Ridgewood, NJ 07450 By 63, you no longer pay taxes. On average, individualstate and municipal taxescost 9.8% of ones yearly income. Thank you! Besides housing, the state also offers comparatively cheaper food options than other states like New York State or Washington State. Although North Carolina's crime rate is lower than the national average, some areas of the state still have higher crime rates. With over 300 miles of beaches, you are sure to find one you love. While many of these trials are for hikers, you can also easily come across some excellent trails where you can enjoy horse riding or mountain biking. Although the surgeon population for the Charlotte area is beginning to minimize this advantage, the cost of living here is still lower than it is across the United States, and especially along the eastern seaboard. We offerindependent living servicesat Treeo Raleigh in North Carolina. But I dont want to fool you, its not all sunshine and peach cobbler gossip runs rampant in the rural parts of town and youll need to be mindful of the tea youre spilling. Unlike Eastern style BBQ, the meat is part of the party, but not the whole show. North Carolina offers a relatively temperate climate to enjoy. Each beach has a distinct vibe and feeling and many are surrounded by quaint coastal towns great for family reunions or a quick weekend getaway. Exactly how much your monthly rate is will depend on the care being received, amenities being used, and apartment style chosen. However, some of my friends have shared stories of woe, especially when searching for white collar jobs they could advance in. This is considered southern etiquette and folks are keen to teach their children manners. Theres something for everyone in the mountains of North Carolina. Its not uncommon to walk into a supermarket, cafe or restaurant and be greeted by name if youve lived in the town long enough. But North Carolina has a lot to offer, from stunning scenery to tax breaks for seniors. More so, to celebrate their states rich and abundant history, North Carolina actively funds and looks after the many museums and historical sites in the state. 3. History buffs will be drawn to the states colonial heritage and its strong heritage that comes to life with interactive and time-honored memorials. Recall how I mentioned southern hospitality as one of the best things about living in North Carolina? Christian is a former winner of a Florida Society of News Editors journalism contest and has written professionally since 2016. North Carolina does have a low corporate tax rate, making it more business-friendly. Well, if youre moving to North Carolina with kids in tow then you will want to budget private education into your cost of living in North Carolina. In North Carolina, there is no tax on Social Security Income, income taxes have been lowered a flat rate (and that rate has been decreasing), there is no State Estate Tax, and a low corporate income tax. Cmon now, my grubby little hands will never squeal! Even a carefully planned retirement lifestyle may come with unintended consequences. The city mixes the old with the new in an innovative way, bringing history to life with Civil War landmarks, the Discovery Place, the NASCAR Hall of Fame, and even Carowinds, a sprawling theme park all within the Queen City. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. The Appalachian Mountains form most of North Carolinas territory, providing the state with. State Individual Income Tax Rates and Brackets for 2020. The state experiences all four seasons, with hot summers and cold winters in the mountains. Another pro of retiring in North Carolina is excellent health care. Your email address will not be published. This includes looking into hospitals, clinics, and doctors in the area. Find fishing, boating, hiking, golfing, and much more. . The Blue Ridge Parkway starts in Cherokee, North Carolina through Asheville, and Blowing Rock into Virginia. With its rugged inland mountains and wind-swept beaches, the state offers some grossly ravishing scenery that will take your breath away. The rolling landscape is dotted with lakes and reservoirs. So, if you move to North Carolina, youll be saving quite a bit on your monthly cost. The sales tax rate is 6.98%, which falls into about the middle tier nationally. 2023 RetireGuide LLC. New Study Reveals Best Places to Retire in North Carolina Theyre All Small Towns. The mountainous regions in the state experience humid days in the summer and pretty cold temperatures in the winter. Its all about the meat in this method, and sauce would serve as a mere distraction although a small side of ketchup-based sauce is provided, for those so inclined. In fact, according to a 2019 report,1.4 million of the states residents live in poverty, making NC the state with the 15th highest poverty rate. Pinehurst. Healthcare is a massive concern for those looking to move to another state, especially retirees. The similarities end with the choice of meat (both use pork), from there the methods differ. Yes, North Carolina is a good place to retire because the state offers generous tax breaks for retirees. How much do you need to retire in North Carolina? One of the downsides to living in Maine is the fact that the income tax and retirement income tax rate can be as high as 7.15%. Over the years we've found the best ways to live, how to travel, take on new hobbies and give back. You can just as easily find a charming apartment in the city or a farmstead, if you so choose. The residents of this state display that Southern charm regularly. If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. Regardless of your preference, both city and rural life have an overall laid-back quality about them that I havent seen in other places Ive lived. Thats not to say that youll be greeted with open arms (Ive found locals to be friendly, yet reserved Ill cover this in detail shortly) but you will be welcomed and treated with respect. Rapidly Increasing Economy. The. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our. But one mountain city that stands out is Asheville. More so, to celebrate their states rich and abundant history, North Carolina actively funds and looks after the many museums and historical sites in the state. Pros & Cons of Living in Asheville . 890 Words; 4 Pages; Open Document. The Best Places to Retire in North Carolina. But dont just take my word for it, with an unemployment rate sitting at 3.8%, North Carolina isnt one of the easiest states to find work. COST OF LIVING North Carolina United States Overall 90.6 100 Grocery 96.5 100 Health 107.5 100 Housing 81 100 Contents1 [] Most pay between 6.75% to 7%, although there are a handful of counties where the rate is 7.5%. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. But I dont want to get ahead of myself, so lets cover everything you need to know about moving to North Carolina based on firsthand experience. APA As a mid-sized city of around 275,000 residents, Durham has all the excitement . "North Carolina Retirement." Whether youve longed to live by an ocean view or in a town surrounded by towering mountains, North Carolina is the ideal state for you! Our communities are located across the United States and offer a range of senior living services including independent living, assisted living, and memory care. Historically, Virginia has had a reputation for wealth creation. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. And while seasonal weather is a benefit to some, other retirees may simply want to move far enough south to never even have to think about snow again.