Ready to retire and downsize, not downgrade? People tend to think retirement means making due with less. And in some cases, this is true. However if you are smart enough to be able to retire in today’s financial climate, you are smart enough to know that you can live a great and full rest of your life if you make a good choice in your retirement location. Whether you are ready to retire tomorrow or looking ahead and planning for the future, Chattanooga is a good financial choice.
Warren Buffet is the touch stone for wise financial choices. He is the Sage of Omaha after all. In 1958 he bought a five bedroom stucco home for $31,000. He still lives there. The value has increased to just over $110,000. Why does he choose to live there? My guess is no house payment and it’s convenient to what he likes to do…work. The take away from this is not live in your home forever (although that is not a bad choice if your home is paid off, near what you want to do and makes sense for your age), but to have a home you can afford and to live near what you love.
Retirement should mean security. Living in an area that is expensive such as Maui or Aspen might offer beautiful homes, outdoor activities and lots of culture, but the cost of living is insanely high. Chattanooga’s median home price is $130,000 and the economy is stable with the extremely fast internet attracting large and smaller companies to move their headquarters here. Homes here are diverse in offering, from all brick homes to urban condos, the spectrum is wide and affordable. Both North Georgia and Chattanooga home prices have stayed stable throughout the financial crisis and continue to hold their value.
Being so near the state line offers the perks of both states. Tennessee does not tax retirement income. Georgia has lower state sales and property tax. Depending on what is a better fit for you, you can can live in one state and enjoy the benefits of both. The Chattanooga area offers urban culture such world class museums, symphony, university and vibrant foodie culture. Want to spend your retirement giving back? Finding the committee to volunteer for or chair is as simple as deciding what your interests are. Living near what you enjoy is easy. Investing in a retirement home that is affordable and gets you the most for your money is smart.
Live like Buffet (either Warren or Jimmy) and choose Chattanooga as your retirement city. Chattanooga Property Shop has knowledge of both finding the perfect retirement home and living well in the Chattanooga area. Let us help make your financial decision a smart one.
Here are a few examples of areas that might interest you: