Great weather, beautiful beaches, the low-cost living are what makes Florida a wonderful place to retire. The weather ranges between 60-80 degrees Fahrenheit. It’s perfect for anyone who loves a warmer climate. This lovely state is surrounded by oceans, lakes, and canals. Water activities are a part of the resident’s culture. The state doesn’t have an estate tax, income tax, or inheritance tax. Retirees actually save money by moving to the area. Not to mention, the cost of living is average to below average. A Florida lifestyle retirement is perfect for many retirees.
Owning a Home in Florida
If you’re thinking of retiring in Florida you should consider becoming a homeowner. There are at least 5 good reasons to buy a retirement home in Florida.
1. The asset creditor protection
2. Homeowner tax benefits
3. No death tax
4. Active adult communities
5. Recreational activities
Asset Protection of Florida Residents
This benefit alone is a great reason to buy a home in Florida. If the homeowner owes the creditor money your property won’t be used to pay your debt. The asset protection law also applies to spouses it’s called tenancies by the entirety. Cash values of life insurance, IRA’s, and annuities are also protected.
Tax Breaks for Homeowners
Homeowners receive a tax break of 50,000 dollars on their primary residence. The school district tax is an exception to the homestead tax. It can only receive 25,000 dollars in exemptions.
Florida is home to dozens of 55-year-olds+ residents. It caters to the retiring adults with a low fixed income. The homes run between 100,000 to millions. Many of the communities offer great recreational activities. Some activities include:
- bocce ball court
• fitness center
• dance studio
• stained glass
• pickleball court
• tennis courts
• continuing education center
• arts and crafts studio
• lapidary studioFlorida is not only a fun place to live it’s affordable. Many fixed-income residents are able to live comfortably in Florida. Many of the retirement communities offer luxury living limitless activities. Each community offers transportation within its facility. The community offers shopping, beautiful landscape, healthcare facilities, and swimming. The amenities are resort-like and affordable. The retirees have endless hubs at their fingertips.
Florida Real Estate
The adult community population in Florida is the reason the real estate market has reached its peak. Real Estate sales have skyrocketed. As a result, local businesses are thriving near the communities. Adult living in Florida is proven to be luxury living at an affordable price. It’s a win-win scenario for retirees and the real estate industry.
If you are looking for a place to retiree look no further consider moving to Florida. It’s the perfect place for adults on a fixed income to enjoy luxury living. The atmosphere is serene and resort-like. Many facilities offer lots of fun places to enjoy. Some activities include tennis, dance, arts, crafts, and so much more. Florida residents enjoy many health breaks that save them money. The cost of living is perfect for any budget.