When you are looking for a place to live, the first thing that you must consider is affordability. This is especially true when you are a senior and you are living on a fixed income. While most people think of retiring to Florida or Arizona because of the weather, most seniors will discover that many other areas offer more affordable housing.
One city in Florida did manage to make the top ten list for affordable housing for seniors. Arizona did not have any cities make the list. To be deemed most affordable for seniors, the list looked for homes that were in the median price range for the area, were single story homes, and were smaller so that there was not a lot of maintenance necessary for upkeep of the home.
Top 10 Most Affordable Cities For Seniors
1. Daytona Beach, Florida.
2. Pocatello, Idaho
3. Bangor, Maine
4. Greenville, South Carolina
5. Grand Rapids, Michigan
6. South Bend, Indiana
7. Mill Creek, Pennsylvania
8. Louisville, Kentucky
9. Sherman, Texas
10. Pueblo, Colorado
These cities had the best prices for seniors with homes that are well suited for their needs.
Other Things For Seniors To Consider When Looking For Affordable Housing
There are other factors that must also be considered when a senior is looking for suitable housing for themselves. Once they have found an affordable area, they also need to make sure that they have proper access to medical facilities, shopping areas, public transportation if necessary, and an ability to socialize. All of these things are important for happy and healthy retirement living.
Seniors should also review property taxes in any area that they are interested in moving. Tax rates can change the affordability of a home that otherwise seems to be within budget. Looking at maintenance costs will also help seniors determine if the house will be affordable. Lawn and snow maintenance can become expensive in some areas.
Another thing that should be considered is the age of the home. While many adorable older homes are a great price for someone on a fixed income, this can also mean excessive repairs over the years. Seniors who are looking at older homes to purchase for their retirement should have a very thorough home inspection performed before deciding to buy the home.
A final consideration on where to live for retirement is the distance that the home places between you and your loved ones. This is often not mentioned but something that must be considered. As seniors age, the ability to drive long distances becomes burdensome or impossible. Visiting family and friends “back home” may require plane travel which can be expensive on restricted incomes. This can cause a lot of sadness when they are unable to visit with family and friends. If traveling will be too expensive, it may be wise to stay closer to family and friends in more affordable housing in your area. Working with a good realtor can help you find a home within your budget in any area of the country.