Considerations For Moving to a Retirement Community in South Florida

The Villages, Disney World, and the beaches aren’t all that Florida is known for. We consulted professionals and locals to get advice on what a person should know before moving to South Florida and here’s what you need to consider before you make that move too.

1.    Good Company

If you move to Florida for retirement, be prepared for plenty of company.In 2010, as per the US Census, 3.5 million of Florida’s 18.8 million residents were 65 years of age or older. Additionally, Florida’s population is expected to increase to 23.9 million by 2030, with around 6 million of those people being 65 years of age or over, which is nearly twice as many as there are now.

Based on where a person moves, they might find themselves surrounded by elderly folks who resemble them by visiting community centers and facilities for the elderly inside parks and recreation spots. Since people from all over the country often choose Florida as their retirement spot, people can meet likeminded people fast and make friends easily.

2.    The Weather isn’t Always Hot

If you haven’t spent much time or often in Florida, you Oklahoma and Florida are essentially tied as the thunderbolt capitals of the United States due to the frequency and intensity of rainstorms. Florida is right behind Oklahoma with an average of 82.8 lightning flashes per sq mile. Oklahoma, on the other hand, averages 83.4 lightning flashes per sq km.

If you’re not a fan of warm weather, Florida still can be a pleasant spot for you.

3.    You Can Save Up on Taxes

You might significantly reduce your tax burden by relocating to Florida. The sunshine state has no state-imposed income tax, making it one of the top ten states for retirement in terms of taxation.  There are no estate taxes or inheritance taxes either.

However, snowbirds who keep a second property in another state are unable to declare Florida as their permanent residence. You’ll need to provide proof that you livein Florida for at least 183 days out of the year. However, don’t count on state income tax auditors to believe you. Keep a journal or diary to track how many days you spent in every state every year. 

4.    Insurance Policies Required in Florida

Florida’s storm danger makes home insurance far more complex and costly compared to other places. Prepare to pay a slightly larger deductibles for storm damage, which is typically 2 percent or 5 percent of the value of your insurance policy. Try to maintain enough cash in the emergency backup to pay for such conceivable costs.

Prior to making a purchase, it’s critical to research a home’s insuranceability to avoid paying yearly premiums that seem to be significantly higher than what you had anticipated. In order to find the perfect house with low risk and all of your requirements fulfilled and inside your budget, get in touch with Realty World Curri Properties. They have a team of experienced estate agents who will help you find the perfect property in no time.

Get a weather mitigation examination on top of a regular home inspection prior to purchasing a house.The assessor will look for unique building elements that make a house more wind-resistant. A house without weather mitigation might cost 4 times as much to cover as one with these amenities.

Your mortgage provider will have you purchase flood insurance if you reside within a specific flood zone because floods are not really covered by a typical home insurance policy. The National Flood Insurance Program will provide coverage for you. Private insurance companies may offer flood insurance as well, maybe with greater limitations than the government scheme. Consult your insurance provider to discuss your alternatives, or visit the Florida Office of Insurance Regulation’s website on private insurance companies selling flood insurance to learn more.

Florida insurers offer a wide range of coverage options and premium prices. A fantastic Rate Comparing Tool is available on the Florida Office of Insurance Regulation, and it offers premium estimations from insurance companies in your area. Citizens Property Insurance Corporation, a nonprofitorganization established by the Florida government to offer insurance to homeowners who are unable to acquire coverage from private insurers, is one of the insurance companies included in the tool. 

5.    Premium Healthcare Services Available

Retirement in Florida offers quick access to recognized, top-notch medical care and health services. Due to the large number of elderly citizens in the state, some of the top geriatric specialists in the world have relocated to Florida, providing seniors with some of the best medical treatment available. The hospitals are also equipped with latest technology and state of the art equipment in order to ensure the people of Florida, including the elderly residents, receive the best possible healthcare.

If you’re planning to property in Florida in order to move there for your retirement, hire an experienced real estate agent to help you find the perfect house.