It truly offers the best of both worlds to prospective retirees. 21 Pros and Cons of Living in Charlotte, NC - Vittana.org The Appalachian Mountains have a strong folk art and music tradition. North Carolinas total state and average local sales tax rate is 6.98%. Pros of Retiring in West Virginia 1. Healthcare is a massive concern for those looking to move to another state, especially retirees. The fact is that every place you consider moving to will have its benefits and pitfalls; you will have to decide the factors that are important to you and the ones youre willing to look past. Our fact-checking process starts with vetting all sources to ensure they are authoritative and relevant. According to the states residents, North Carolina only happens to experience two seasons summer and fall. Retiring in South Carolina Pros and Cons South Carolina has no shortage of things to do to stay outdoors and active. in the state is 5.8 per 100,000, 10% higher than the national average. Unlike Eastern style BBQ, the meat is part of the party, but not the whole show. Retirement in North Carolina vs. South Carolina - Acts To retire comfortably in the state of North Carolina starting today, you will need to have saved at least $65,000. Proximity to Everything You Need; Cons of Moving to Asheville, NC #1. 2023 Retire Fearless. RetireGuide.com, 20 Feb 2023, https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. The fact is that not everything is rainbows and butterflies in the Old North State. Hurricanes are always a lurking threat for those living along the eastern seaboard, and unfortunately, they can potentially wreak havoc on the residents lives. Today, we're going to highlight 7 of the best places to retire in North Carolina. Residents can claim a $3,000 deduction if they are under 65 or $15,000 if they are over 65, making it exceptionally welcoming for senior citizens who are receiving income from sources other than social security. Although the cost of senior living may seem daunting at first, a second glance may reveal something different. But even then, its hard to fault someone who considers living in North Carolina the end prize. Access to Nature #2. How To Apply For Medicare: A Step-by-Step Guide, Missouri Economic Research and Information Center. The state also offers other generous exemptions on other types of retirement income. It wont come easy (Ill touch on this shortly as well). On average, individualstate and municipal taxescost 9.8% of ones yearly income. No matter your preference, you're sure to find it in North Carolina. With a B.S. Retiring in North Carolina brings tax benefits, which means that the state considered pro-business, with a great outlook on jobs for seniors looking to start their own business or begin a second career. The moderate temperatures mean that the outdoors can be enjoyed year-round, keeping retirees active and engaged. The mountainous regions in the state experience humid days in the summer and pretty cold temperatures in the winter. Retiring in North Carolina Is North Carolina a good place to live? However, after moving to Carolina and making the adjustment, this is one of my personal favorite perks of living in North Carolina. 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. Social Security is not taxed, but 401(k) and pension distributions are. Aging in America Rankings. Im not joking, the debate has become the subject of state legislation with bills being introduced over which of the two prominent BBQ styles should be deemed official. 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. But before I get some sassy remark, allow me to explain. Many retiree-friendly communities have been developed with top-notch health care facilities. However, some of my friends have shared stories of woe, especially when searching for white collar jobs they could advance in. Pros of retiring in North Carolina All four seasons. Want to Retire in North Carolina? 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. This is something to keep in mind if you're considering retiring to North Carolina. Drawbacks of Retiring in North Carolina | Newsmax.com Better with age, exceptional with us! Oops! Many folks are surprised to learn that North Carolina the 3rd most hurricane prone state in the country. Pros & Cons of Retiring in South Carolina - RetireGuide The board was formed to repeal a 1929 law that had been put in place to provide sterilization for persons that were feeble minded and mentally . Contact us today to get started. Hurricanes in North Carolina are accompanied by intense winds and unpredictable weather patterns that can cause flooding and severely damage your home. Retrieved from, Loughead, K. (2020, February 3). 0.77%. All this to say, both the outdoor recreation and road trip possibilities are endless while living in North Carolina. However, it does so at a reduced rate, with almost 2% on most food. Published in Forbes, Senior Finance Advisor, Alzheimers.net and on other leading senior care blogs, she leverages her working knowledge of the senior care industry with leading research and best practices to create engaging content benefitting seniors and their caregivers. This area is famous for its beaches, lighthouses, and wildlife. The parkway is a total of 469 miles and is world-renowned for its biodiversity featuring extremely rare habitats. 8 Things You Must Know About Retiring to the Carolinas Pros & Cons of Living in Asheville North Carolina. If we talk about numbers then, South Carolina is a clear winner as the people here pay 0.56% of their home's market value, and also people above 65 years of age get a deduction of about $50K. This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. 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. Rapidly Increasing Economy. Much of determining where to retire may come down to researching where your money will spend the best. Poverty is seen as a significant contributor to the relatively higher crime rate in the state. Pros And Cons Of Living In North Carolina First of all, these are the top 10 North Carolina pros and cons: Great sense of community Low cost of living and economic opportunity Temperate weather and mild winters Abundant outdoor activities Access to quality health care High tax burden Sub-par K-12 education High crime rates Lack of weather variety Identifying a state with a low cost of living and still offers a vibrant post-retirement lifestyle can be difficult, but North Carolina checks both boxes. North Carolina may traditionally be thought of by some as a rugged state filled with mountainous communities. Central North Carolina's Piedmont region is home to the state's capital, Raleigh. Sorry there was an error. Overview. RetireGuide.com. Before moving to North Carolina I found myself living in Chicago, where I braced for winters with the enthusiasm reserved for water-downed cocktails and malfunctioning alarm clocks. 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 Greensboro. Cities such as Raleigh and Charlotte have a public transportation system, but they lack the convenience that other cities, such as Chicago or New York, offer. It also has a lot to offer retirees, from big cities to tightknit mountain communities. During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. Contents1 Is it cheaper to live in SC [] Healthcare is a massive concern for those looking to move to another state, especially retirees. Find many museums, including the North Carolina Museum of Art and the Asheville Art Museum. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-mobile-leaderboard-1','ezslot_16',134,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-mobile-leaderboard-1-0');The hurricane season hits North Carolina from June to November. As in North Carolina, South Carolina does not tax Social Security benefits. Table of Contents. Residents have over 200 state parks to explore, including Mount Rogers National Recreation Area and Great Smoky Mountains National Park. Charlotte, North Carolina is the most populous city in the state and offers residents a big city feel with small-town charm. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. Asheville is a unique mixture of a lively city with an active and modern culture that is surrounded by the Blue Ridge Mountains and plenty of nature. The University of North Carolina, for example, offers a Continuing Education program with a range of general interest courses for community members. Here are 10 pros and cons of living in North Carolina to consider before making this state your home. Retrieved from, U.S. News & World Report. It's anywhere from 10 to 30 percent cheaper to buy a home here than the national average. Posted by Preston Guyton on March 3, 2023 . The residents of this state display that Southern charm regularly. Retiring in Asheville, NC: Reasons, Best Places & More! What this means for you: Anytime you hear mention of a possible hurricane, make a beeline for the grocery store and stock up on essentials. Retrieved from, United Health Foundation. Lexington style BBQ (also called Western style) uses only the pork shoulder and employs a ketchup-based red sauce perfected with vinegar and spices. Mild Weather Year-Round #3. The sales tax rate is 6.98%, which falls into about the middle tier nationally. It can balance out somewhat, however, since the cost of living and affordability of North Carolina is significantly lower than some similar states that also tax retirement income. North Carolinas crime rate almost matches the national average. Brevard. North Carolina has a diverse range of weather and climate, depending on which region you retire to. In her free time, Alissa loves to travel, read, cook, and spend time with her family. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up for helpful guides, interesting topics, and tips from locals. With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. According to a chart from the U.S. News & World Report, North Carolina also has a poor ranking for Medicare quality, coming in at 38th. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our free weekly newsletter. The most frequent explanation for North Carolina's increased crime rate is the state's higher-than-average poverty levels. RetireGuide doesnt believe in selling customer information. Retire in Asheville - Asheville North Carolina retirement The low property taxes in the state are one of the reasons for the below-average housing costs. Its important to remember that regardless of where you choose to settle in North Carolina, youre never far from the mountains. Most of all, retirees with eyes on West Virginia must weigh the pros and cons of rural living. Many of the mountainous small towns typically come with very low costs of living. 2. The company also offers access to third-party pre . Your email address will not be published. The state also has major league lacrosse games and all of that is before getting into college sports where there is a fierce following for several college teams. Top 10 places to retire in NC. Overall, the cost of living in North Carolina comes in 5 points below the national average. The Appalachian Mountains run through western North Carolina, providing ample hiking, camping, and fishing opportunities. Dont hesitate to reach out with questions, Im here to help! On the other hand, some people find the cost of living in North Carolina to be . The Best Places to Retire in North Carolina. You may be surprised to learn that the home of Duke University and University of North Carolina at Chapel Hill might value public education enough to fund it, but no dice. One of the most significant disadvantages of retiring in North Carolina is a lack of public transportation. After all, this state has a lot to offer. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. Good news for retirees eyeing North Carolina as a landing pad for their golden years: State residents 65 and older can, on a space-available basis, audit classes tuition-free at the campuses of. Best North Carolina Beaches. This site also participates in other affiliate programs such as CJ, ClickBank and more, and is compensated for referring traffic and business to these companies. How is North Carolina for retirement? - meetbeagle.com (30) Living in North Carolina (99) Living in Ohio (11) . 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. The state is home to some of the best hospitals in the country, including Duke University Hospital and Wake Forest Baptist Medical Center. According to the U.S. News and World Report, some of the best beaches and beach town options in North Carolina include Emerald Isle, Bald Head Island and Cape Hatteras. Five-star fun. The state has been hit by several major storms, including Hurricane Florence in 2018. But dont just take my word for it. Americas Health Rankings. Unfortunately, North Carolina is located in an area susceptible to hurricanes. If you prefer the sea to mountaintops, the state has you covered in that department as well. The coastal areas are milder, with average temperatures in the 60s and 70s. There's a reason why retiring in the southeast, for example, is such a popular choice: it's the perfect intersection of affordability, convenience, and climate that many retirees crave. Everything is a lot cheaper here, especially when it comes to housing. However, European countries had beforehand . Moreover, there are also smaller university hospitals in the state that are nationally ranked. Again, it's about researching the specific community you're interested in living in as many areas have low crime rates. . Seriously, Ive had days where the temperature soars to 80F by 8am (I mean, what the heck?). According to the U.S. News and World Report, Charlotte is viewed as an excellent retirement destination. It may seem like all of this comes at a cost, but North Carolina actually has a lower cost of living than the national average. North Carolina maintains seasons but doesnt suffer from the same regularly severe weather as northern states. With its rugged inland mountains and wind-swept beaches, the state offers some grossly ravishing scenery that will take your breath away. This post is for you. Pros & Cons of Living in Asheville . The average cost of living was $38,295. List of the Pros of Living in Charlotte, NC 1. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. Social Security Income is exempt. For instance, with the highest average rent in the United States, a one-bedroom apartment in the District of Columbia costs $2,324 to rent.So, if you move to North Carolina, youll be saving quite a bit on your monthly cost. We'd love to hear your thoughts. With that being said, the low cost of living may be less relevant, depending on how much money you have for your retirement. North Carolina is a generally affordable state where your money will go far, especially if you are used to a Northeast standard of living. Raleigh and Durham. Around 14% percent of residents live in poverty, typically leading to increased criminal activity. 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. If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. 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. Pros And Cons Of South Carolina. They also appreciate the state's diverse culture, with its many festivals and events. Benefits of Retiring In Virginia (Pros & Cons) | Retire Fearless Weigh the pros and cons to see if retiring in North Carolina is right for you. 10 Pros and Cons of Living in North Carolina - Redfin North Carolina has become a popular retirement destination as the state has grown, providing an alternative to extreme-heat states like Florida and Arizona. While it is technically one of the highest-ranking states in terms of taxation, there are a few pretty low taxes. Taxes - North Carolina's recent income tax reform lowered its rate to a flat 5.57 percent, but there are several states that don't tax resident income at all. 2023 RetireGuide LLC. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-leader-2','ezslot_11',135,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-2-0');North Carolina has relatively low property taxes. One option that stands out is Hendersonville. For those who may be thinking about spending their retirement years in South Dakota, there are plenty of pros and cons to consider. The good thing is that they are more than willing to welcome newcomers with open arms. The state is best known as the birthplace of Aviation, irresistible barbecue and friendly locals theres so much to love about living in North Carolina. North Carolina is the third most popular retirement destination. NC isnt the worst state for retirees when it comes to income taxes, but it isnt the best either. North Carolina Pros And Cons; North Carolina Pros And Cons. Indeed, its hard to find yourself bored after moving to North Carolina, as most of your free time can be spent outdoors. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. For full transparency, we clearly identify our sources in a list at the bottom of each page. 2023 Best & Worst States for Retirement | Retirement Living Plenty of Outdoor Activities 3. Is it better to retire in South Carolina or North Carolina? - 2023 Retrieved from. Speaking of, heres a locals tip: Purchase these bad boys before moving to North Carolina. Miles of sandy shoreline mark the spot where our lovely state ends and the Atlantic Ocean begins. cost 9.8% of ones yearly income. The state offers various outdoor activities Whether you enjoy hiking, biking, fishing, or camping, North Carolina has plenty of outdoor activities to keep you busy. As for my favorite BBQ joint? This is considered southern etiquette and folks are keen to teach their children manners. Copyright © 2023 The Honest Local | This post may contain affiliate links - read our Standards, Corrections, & Privacy Policy. Roxboro. The largest employers in the state are: Walmart, Duke University, Food Lion, Wells Fargo, Lowes and Bank of America. Pros Quality healthcare. 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! Retrieved from, Missouri Economic Research and Information Center. Festivals and events take place throughout the year. For anyone who is looking for housing for themselves or a loved one who is a senior citizen, North Carolina has many options to choose from. However, its important to remember that the cost of living varies from state to state. This could include having an evacuation route and plan and supplies to ride out the storm. The average monthly rent for, a 2-bedroom apartment in North Carolina is $825, , which is much lower than in many other states. You havent lived until youve tasted the irresistible temptation that is vinegar barbecue, its life-changing. But there are still notable drawbacks to retiring in North Carolina. The coastal region is where you'll find the Outer Banks plus the miles of the Atlantic coastline. Although the good news is that Maine . Something went wrong while submitting the form. Estimate how long you'll live and explore retirement options for a long life. 15 HONEST Pros & Cons of Living in Asheville, North Carolina We offerindependent living servicesat Treeo Raleigh in North Carolina. Theyre non-negotiable in my book because they prevent things from molding overnight. The Lively Music Scene #5. A coworker joked that North Carolinians are the best neighborhoods and acquaintances a person could have because respect is a second language. The lack of proper public buses, trains, and other modes of transportation make it challenging to travel and explore different parts of the state. For starters, Social Security income is not taxed and if youre over 65 years old, up to $35,000 of your retirement income is exempt from state taxes. The median home cost in the city is $260,000, but you can save some by relocating to Durham if you prefer. For instance, Duke University Hospital is among the best in the country. That data found the median monthly mortgage cost was $1,314, and the median two-bedroom rent was $878. Your money will go far there, helping you to have a full retirement. There aren't enough regular buses, trains, and other means of transportation to allow you to travel and explore different areas of the state. Heck, take a road trip to Great Smokey Mountains National Park (the most visited national park in the country!) This means that your money will go significantly farther in North Carolina than it would in an average U.S. state. Another pro of retiring in North Carolina is excellent health care. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. What more could you want in a new community? Property tax rates are moderately high in North Carolina, but there is a senior discount that is quite significant.
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