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Old 06-22-2014, 08:12 PM
 
22 posts, read 38,182 times
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we are looking for a nice community not more then 1 hour from Swathmore Pa that is friendly to seniors. We would like a ranch type home or a townhome in an enclave type setting for around $200,000.00. Is such a area possible in Delaware?

Thank you.

Bob
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Old 06-22-2014, 08:19 PM
 
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1 hour from Swarthmore limits you to as far south as Newark/Bear.

You might want to check Pike Creek (19808,) Newark (19713, 19711 etc.)

Right over the line in PA, you can take a look at Garnet Valley.

Hopefully you'll get more concise info soon from another poster.
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Old 06-22-2014, 10:46 PM
 
Location: Southeastern Pennsylvania
1,045 posts, read 1,255,456 times
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The price limits you more than the distance from Swarthmore. Not sure what you mean by "an enclave type setting." Most 55+ communities in the radius you describe start at more than $200k.

You might find something in older established communities -- the ones built in the post WWII era. Some of them have aged well and are still quite nice. Sadly, some have turned into neighborhoods where you really don't want to live. We lived in one of those for a year in the late '50s, and it's sad to realize how it has deteriorated.

You might find something in Newark or even in Elkton, MD, unless you're avoiding MD because of taxes.
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Old 06-23-2014, 05:48 AM
 
Location: Toms River NJ
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The Ponds at Bayberry, Spring Harbor and Silver Maple are all located in Middletown, De - slightly farther than you were looking for a slightly higher in price as well.
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Old 06-23-2014, 06:05 AM
 
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Bob,

Are you living in PA now? Is the reason you are considering DE because of the lower property taxes? If so, you may want to examine the tax impact of moving to DE would have on any pension, 401K or IRA withdrawal.

For example, in PA when you put money into a 401K the money is taxable. But, as long as you are living in PA it is not taxable when it comes time to start withdrawing the money. However, if you are living in DE only the first $12,500 is exempt from taxes each year.

When you consider moving to a different state it is important to look at the rules that govern how your pension, 401K or IRA is treated in each state. It will vary from state to state and it is often overlooked until tax time rolls around.

Lower property taxes in DE may not be the reason you are considering DE, but, I just thought I would mention the tax treatment of pensions, 401K's and IRA withdrawals in DE vs PA in case you are unaware of the differences.

Mary2014
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Old 06-23-2014, 08:20 AM
 
22 posts, read 38,182 times
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Default thank you all for your replies,

We live in New Jersey but my wife's doctor is in swathmore and she doesn't want to leave her. In New Jersey the real estate taxes on our home are $8000.00 a year. Our income is strickly from a fairly decent pension and SS.

By an enclave I mean a small group of homes nestled together maybe on a winding street in a woodsy area. In New Jersey they can be had for the two hundred thousand (maybe just a little more) but of course I wouldn't sell this home to move to another home in Jersey, I am trying to escape the taxes here.

Thank you again for your comments.

Bob
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Old 06-23-2014, 09:34 AM
 
1,680 posts, read 2,542,305 times
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Quote:
Originally Posted by robert1522 View Post
We live in New Jersey but my wife's doctor is in swathmore and she doesn't want to leave her. In New Jersey the real estate taxes on our home are $8000.00 a year. Our income is strickly from a fairly decent pension and SS.

By an enclave I mean a small group of homes nestled together maybe on a winding street in a woodsy area. In New Jersey they can be had for the two hundred thousand (maybe just a little more) but of course I wouldn't sell this home to move to another home in Jersey, I am trying to escape the taxes here.

Thank you again for your comments.

Bob
Bob,

SS is not taxed in DE, however, any pension distributions over $12,500 per year would be taxed.

Not sure how PA handles pensions earned outside of PA. I just know that if you contributed to a 401K or IRA in PA they tax it when you make the contribution, so, it is not taxed when it comes time to withdraw from an IRA.

Since you are in NJ you may want to research the tax impact on your pension if you end up moving to PA or DE. Best to know before you make a decision to move to a particular state.

Mary2014
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Old 06-25-2014, 04:57 PM
 
Location: Kirkwood, DE and beautiful SXM!
12,054 posts, read 23,298,753 times
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Just an FYI and the OP probably knows this, but if you make more than 32K in retirement income, you will pay taxes on your social security. You will have a choice of either 15 percent or 25 percent.
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Old 06-25-2014, 11:48 PM
 
Location: Southeastern Pennsylvania
1,045 posts, read 1,255,456 times
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Quote:
Originally Posted by SXMGirl View Post
Just an FYI and the OP probably knows this, but if you make more than 32K in retirement income, you will pay taxes on your social security. You will have a choice of either 15 percent or 25 percent.
Are you talking about federal income tax? If there's a choice, who would ever choose 25%?

Here's some detail from the government: Benefits Planner: Income Taxes And Your Social Security Benefits

Pa does not tax social security. It also does not tax pension income.

This is a very useful tool for comparing state taxes for retirees:
http://tinyurl.com/b5yr4k3

NOTE: I have tried and tried, but I can't get that URL to go directly to the retiree-specific map. So when/if you get the more general tax map (also interesting), be sure to click on the link in the text to get to the retiree taxation map.

Last edited by Pocopsonite; 06-26-2014 at 12:06 AM..
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Old 06-26-2014, 12:24 AM
 
Location: Southeastern Pennsylvania
1,045 posts, read 1,255,456 times
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Quote:
Originally Posted by robert1522 View Post
By an enclave I mean a small group of homes nestled together maybe on a winding street in a woodsy area.
Bob
You might be able to find something in Newark, DE, which is a nice college town. Or in Pike Creek, an unincorporated area which can have an address of either Newark or Wilmington because it's about halfway between. On realtor.com you can choose cul-de-sac as one of the features you want, after choosing the price range and ZIP codes.
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