Out of 15 cities in the US being recognized by RealtyTrac as retiree homebuying hot spots, about half of those cities are located in Florida. It’s not surprising that Florida made a “best retirement destination” kind of list—it’s got the warm weather and tax friendliness that the majority of retirees look for. But RealtyTrac has noticed something else that brings Florida to the front of the line. The 7 Southwest Florida cities on their list—Dunnellon, Naples, North Fort Myers, Punta Gorda, Sun City Center, Venice, Orange City—are 7 of the fastest appreciating retirement destinations.
So what exactly does that mean? According to RealtyTrac, now is the perfect time to be buying a retirement home, even if you haven’t quite reached that time in your life. Buy the home now while prices are good, and rent it out. Experts say that because these cities are hot spots, the value of the homes will just continue to rise, as millions of baby boomers start to retire within the next couple of years. The fact that there are already a lot of retirees in these cities plays a factor in the appreciation of homes, too, as each city has established itself as a retirement destination. RealtyTrac thinks this means that there will be a continuing demand for homes in these areas.
Combine these fast appreciating cities with Florida’s friendly taxes, and it really starts to look like a perfect destination. Florida is one of the few states that doesn’t have a state income tax, letting your wallet breathe easier. Social Security benefits and other kinds of retirement income are also exempt from taxes, which means you can breathe easy, and have the funds to live your retirement years the way you want to.
From Naples to Tampa there are 7 prime retirement destinations, and now is the best opportunity to take advantage of the appreciating prices in these highlighted cities. Find a home that fits your idea of ideal living, mix in a little sunshine, and there’s no place better to call home.
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