Retire to Oregon Coast or Maine Coast? (sales, apartment)

[Family of five]

Hi all,

I really appreciate anyone's thoughts on this. We have been to both coasts several times, and really love both. Which would be better to retire to, when considering finances (taxes?), weather, health care, culture, cost of living? We are going to buy a place on one of the coasts at some point, and I am eager to get some input and guidance.

Thank you!

[Larry Caldwell]

If you have been to both coasts several times, you probably know more about the comparison than anyone here.

You might compare the tax structures for retirement. Oregon has an income tax and capital gains tax, so if you are earning unsheltered interest or selling shares to get by, you will end up paying tax on the earnings. If you are living at least in part on capital, Oregon has no sales tax, so your money will go farther. Property taxes in Oregon are all local, so your property taxes will depend on your taxing district.

You may have trouble finding health care. Because of federal chicanery, Medicare only pays Oregon health care providers about 60% of what they pay a provider in Florida. Many docs are reluctant to take medicare patients. Small towns in Oregon are chronically short on doctors, so they have no trouble filling their patient list with paying customers. There are small hospitals scattered up and down the coast, but there are no tertiary care facilities on the coast. You would end up going to Portland or Eugene for treatment. There are regional VA hospitals in Portland and Roseburg. Keep your ambulance insurance paid up. If there is an emergency, you will probably have to go by air, and that is expensive!

I have no idea what Maine is like.

[Family of five]

Thank you for your very helpful reply! It is so nice to have information from someone who lives there. Thank you for your time!

[mdvaden]

Just worked for someone who is moving here from Maine. They have a house here already.

Told me that even though southern Oregon has a few more ticks than northern Oregon, that it's not like Maine's ticks.

So I'm told.

They like the weather here.

Just passing word of mouth.

[StealthRabbit]

This really depends on your own desires, both places have unique benefits (and detractors). The general benefits of PNW is more moderate winter weather. (little / no snow) no salt on roads to trash your cars, probably lower energy costs, and a lot less people, and visitors. BUT, no Lobster :-( or -Bar Harbor, Boston / Cape, quaint OLD fishing villages, antiquing, rich colonial history, vibrant fall colors.

PNW does have it's own culture, but it isn't as tough to penetrate as East Coast culture, PNW is more 'blended', but still rich in 'expedition' history, and generally pretty accepting. OR seems more socially polarized than WA, Both states suffer AND are advantaged (balance of power) by having very different political and legislative interests divided vertically by the Cascade Mtn range. (East side is farmers or self employed small businesses / west side majority of voters are 'employees' ). Economies / state financial's are quite different. BTW --- Hurrah !!! OR bond rating just improved today, this is a major step forward.

We plan to have 3 places across US, and each will be a 'self supporting' rural or commercial property with an apartment or guest house for us when we are in the area. The rent from the principle residence or commercial space will cover the total costs, taxes and insurance. We enjoy Mountains, Ocean, travel, learning, classical music, photography, and volunteering. Thus each place will be within 1 hr of an international airport, and hopefully will be in a community with a college. The actual coast proximity can also be 1 hr, as I'm not keen on fog and cold summers or tsunami's. If I miss walking on the beach every morning, then I'll buy a commercial place in a beach town and stay in an apartment, or... buy a fractional ownership ~ 30% of a beach house, and stay for a few months each year. I think I would get Cabin Fever hanging around all year, plus you could rent out your place during prime season and go stay somewhere less crowded. (you want to do this with a couple 'select' families, as 'rental management' is too hard on your cash flows and property. (revolving door of occupants you don't know)) Basic rule of thumb for 'destination' homes... you can rent seasonally by the week, for the same rate you rent annually by the month. BUT agencies charge between 25-30%, and vacancies kill you. Best of both worlds... find a few families to rent a few weeks every year, and you head off to somewhere else. (like the inland passage - BC / AK) it is a terrific place to summer if you like the ocean. Weather +?? Fishing +++ Beauty +++Wildlife+++

Our proposed 3 locations are currently slated to be in NH, WY and WA (tho OR may be possible if we can use WY as a principle residence). You will note each of those are state income tax free, as are AK, FL, NV, TN, SD and TX. NH taxes investment income so that won't fly. OR is a pretty good retirement location as weather is mild and culture rich. Expenses range broadly from remote small economically depressed towns, to the culture hub with upscale housing. I will further research each state's 'senior services' in regards to healthcare / estate taxes. I plan to keep my capital assets in my WA trust, as it is pretty friendly on a legal basis. (but WA is one of very few Community Property states, which could be a problem for a 'blended' family, without a robust 'pre-nupt'.) I get to OR several times / day if I needed to avoid sales tax (but I prefer to buy in my community to support local businesses). There is no Sales tax on unprepared food items, and I'm a pretty low impact consumer, driving a 25 yr old $35 car that gets 50 mpg on free fryer grease.... When / if you get to OR, be sure to get the OR state approved advanced directive, as it is specific to OR and a good item to keep close at hand! (Maybe have it 'tatooed' )

[seashelly]

Flip a coin.....Do you prefer Lobster or Crab?

[Family of five]

Thank you all so much for the replys. There really is so much to take into consideration! janb, sounds like you have a great plan in the works!

[kittyhox]

I've been to both also, and I would say the most obvious difference is weather. The Oregon coast is pretty moderate year round and the Maine coast, less so.

Both are lovely and have lots of character!

Tough choice!