Good Article on retiring in North Carolina (Charlotte, Asheville: homeowners insurance, chapel)

[TuborgP]

Good read from Smart Money for folks considering retirement in NC.

Retire Here, Not There: North Carolina - SmartMoney.com (http://www.smartmoney.com/retirement/planning/retire-here-not-there-north-carolina-1322071473779/?link=SM_mustread#tabs - broken link)

With its beaches, mountains and Southern charm, North Carolina tops the short list of possible retirement destination for many boomers. More importantly for seniors on a fixed budget, living costs in the state are 6% cheaper than the national average and home prices are lower than those in most states. The drawbacks?

[goldenage1]

Interesting. But the only coastal place they mentioned is New Bern, rather than the dozens of communities in Leland/Southport.

[faabala]

The drawbacks are taxes and more taxes. They want raise the gas tax again. We are the 9th highest in the US now.

[Jimrob1]

I notice all these lists (and there are many) that come out, push retirees towards certain communities in states. As if all retirees would want to or could afford to retire in Asheville, Chapel Hill or Pinehurst NC. I think its great that a number of retirees do retire to these communities. However I do not think they would be listed and thought of, as affordable retirement locations for many.

I think the only lists to go by is the list one makes for themself. The lists we make after doing research and find places that fit our own needs and wants.

[anifani821]

Well, I am right here in NC - and although I have lived other places - I am a native. There is a lot more to consider than "living costs" - from medical care to "hidden" taxes to cultural considerations to very limited mass transit. Any of those criteria could make a particular place less than ideal.

Not that I am knocking NC as a place to retire . . . we need the tax base from retirees, especially those w/ regular pensions and some assets to bring to the table, lol.

I have ideas on places to retire w/o necessarily being in planned communities . . . but nothing has so captivated me that hubby and I have been able to decide where we are gonna settle. It will NOT be Charlotte - for a long list of reasons. And the upscale areas that folks typically will consider are not really a bargain when compared to many other upscale areas in other states.

It all depends on what a person has on that list of "must haves" . . . and what kind of budget they are working with, wh/ is true when considering ANY state/city/town.

[anifani821]

Originally Posted by faabala

The drawbacks are taxes and more taxes. They want raise the gas tax again. We are the 9th highest in the US now.

I would add that Duke Power is upping rates 12%. They applied for a 17% hike. In addition, the state allowed a homeowner's insurance rate hike, to compensate for high payouts due to coastal insurance claims.

Here is info on that rate hike. Note that the state officials love to spin it that somehow they "saved" us money by spreading the cost around and not approving the hike requested, lol. I include this, tho, as background so you will be aware that another rate hike could very well be on the horizon in a few years.

On Dec. 18, N.C. Insurance Commissioner Jim Long signed a settlement agreement with homeowners insurance companies allowing an overall statewide average increase of 4.05 percent in rates beginning May 1. This is a much lower statewide increase than the 19.5 percent increase originally proposed by the North Carolina Rate Bureau on Dec. 8, saving consumers a potential $238 million.

The bureau represents all of the homeowners insurance companies doing business in the state.

"There has been a lot of speculation surrounding this homeowners rate filing, but I feel that we've reached a settlement that is fair to both consumers and insurance companies in North Carolina," said Long. "No one likes to see their insurance rates go up, but the industry made a strong case for allowing some increases this year. The silver lining is that most consumers won't see nearly the increases that were initially proposed.

[Ellwood]

Originally Posted by Jimrob1

I think the only lists to go by is the list one makes for themself. The lists we make after doing research and find places that fit our own needs and wants.

We reviewed so many of the so-called lists and agree with you that each person/couple has to look at their specific needs and wants. Just because something is a financial bargain it doesn't mean there are activities/entertainment, climate, medical, social, cultural and hobbies that fit your lifestyle. Several friends moved to SC and NC and found, not only did they miss family and friends, but they were bored and ended up moving back.