Fall and spring are a good time to enjoy scenic views of the outdoors. Weigh the pros and cons to see if retiring in North Carolina is right for you. Find a job before moving to North Carolina is vital (especially if you plan to live in the rural parts of the state). Unlike Eastern style BBQ, the meat is part of the party, but not the whole show. The scenery is also beautiful, and its one of the few states that is diverse enough to offer everything from small mountain towns to major cities and beaches. Living in Pennsylvania . As far as the major cities, Asheville may offer the most affordable lifestyle. Estimate how long you'll live and explore retirement options for a long life. But thats not all there is to this wonder.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-medrectangle-4','ezslot_6',109,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-medrectangle-4-0'); North Carolina has some majestic views, temperate weather, lower-than-average cost of living, above-average healthcare, and a welcoming population. Taxes - North Carolina's recent income tax reform lowered its rate to a flat 5.57 percent, but there are several states that don't tax resident income at all. You will need to invest in a car to get the most out of living in North Carolina. If youre a history enthusiast, you can explore the many museums at Beaufort or Cape Fear and get lost in the centuries of history. The Appalachian Mountains stretch across most of North Carolina and provide many hiking trails. However, with your retirement nearing, you dont have to look past this wonderful state. Low Employment Opportunities 3. North Carolina is a generally affordable state where your money will go far, especially if you are used to a Northeast standard of living. The good thing is that they are more than willing to welcome newcomers with open arms. Durham. According to WRAL, there are also several small mountain towns scattered throughout the state that can also appeal to retirees. For anyone who is looking for housing for themselves or a loved one who is a senior citizen, North Carolina has many options to choose from. North Carolina is one of the original thirteen colonies, allowing it to gather a rich history spanning centuries. The state is also far from just mountain ranges and includes some vibrant, fast-growing metropolises. Healthcare is a massive concern for those looking to move to another state, especially retirees. encounter a violent crime, and 24% encounter a property crime, with the overall crime rate being 28.72. I knew that living in North Carolina would require becoming acquainted with a humid sub-tropical climate, but even after 12 years I still cant get used to it. The states property tax rate stands at 0.77%, which means that a homeowner has to pay around $770 every year for every $100,000 in home value. During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. The average monthly rent for, a 2-bedroom apartment in North Carolina is $825, , which is much lower than in many other states. The cost of senior living in North Carolina is fairly consistent across the state, coming in at $3250 per month for assisted living care, below than the national average. In North Carolina, there is no tax on Social Security Income, income taxes have been lowered a flat rate (and that rate has been decreasing), there is no State Estate Tax, and a low corporate income tax. As for my favorite BBQ joint? The Friendly Community Feeling #6. The sales tax rate is 6.98%, which falls into about the middle tier nationally. The only downside to the easy going vibe is the lack of ambition you may come across from time to time. Benefits of Retiring In South Carolina (Pros & Cons) - Retire Fearless Home to a population of nearly 10.5 million, North Carolina is the 9th most populous state in the country. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. This includes looking into hospitals, clinics, and doctors in the area. If youre hoping to stay in touch with civilization in retirement, this city offers everything from a great culture to major sports teams and events while still giving you the chance to experience seasonal weather with mountain ranges and nature activities nearby. All rights reserved. Many of the mountainous small towns typically come with very low costs of living. The median home cost in the city is $260,000, but you can save some by relocating to Durham if you prefer. Worth mention: The flat 4.99% state income tax is one of the lowest in the country, further adding to the lost cost of living in North Carolina. South Carolina's tax code is great for retirees as there are also some substantial deductions for other kinds of retirement income. The south is known for hospitality, and North Carolina is no exception. Although North Carolina's crime rate is lower than the national average, some areas of the state still have higher crime rates. Overview. Of course, your location influences your total costs. Now to answer the big question: Is North Carolina a good place to live? And the state has the added benefit of generally affordable housing and a low cost of living, even within the cities. Not only will you get amazing service when you visit the store or supermarket, but youll also receive kind gestures from random people you bump into on the streets. Moreover, there are also smaller university hospitals in the state that are nationally ranked. True to form, locals focus on getting to know their neighbors and building a sense of community. Recall how I mentioned southern hospitality as one of the best things about living in North Carolina? Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. North Carolina is certainly an interesting state. South Carolina Is Tax-Friendlier to Retirees Than North Carolina.Kiplinger ranks South Carolina as one of the most-friendly states for taxes on retirees. The Pros of Retiring in Georgia are: It is incredibly tax-friendly - As one of the most tax-friendly states, Georgia offers people over the age of 65 a $65,000 deduction per individual on retirement income outside of social security and up to $130,000 per couple. Speaking of, heres a locals tip: Purchase these bad boys before moving to North Carolina. Charlotte, North Carolina is the most populous city in the state and offers residents a big city feel with small-town charm. , both states ranked in the top five for net migration of people aged 60 and older. Raleigh, the state capital, could also be a suitable retirement destination that includes many big city offerings without quite as much activity as Charlotte. If youve ever wondered how some of our favorite Hollywood stars continue to make a living after their film days are over, they usually have several options. Update your browser for more security, speed and compatibility. However, it does so at a reduced rate, with almost 2% on most food. If you consider yourself a nature nut, you will love living in North Carolina. Know what that means? According to the Kiplinger State-by-State Guide to Taxes on Retirees, Virginia ranks as a tax-friendly state for retirees. Retrieved from, Loughead, K. (2020, February 3). A website run by locals in various cities, with the hopes of making big life decisions a little easier on you. But dont just take my word for it, with an unemployment rate sitting at 3.8%, North Carolina isnt one of the easiest states to find work. However, as with every other state, North Carolina also has quite a few pitfalls that if you can look past, youll love living here. When it comes to weather, North Carolina has the best of both worlds. Pros of Retiring in Virginia: Robust Economy: Even though the COVID-19 pandemic considerably affected the state's economic growth, Virginia still remains one of the US's strongest economies. Retrieved from, United Health Foundation. Your money will go far there, helping you to have a full retirement. It came in as the 20th most-taxed state. Consider these retirement communities in North Carolina: Asheville. A coworker joked that North Carolinians are the best neighborhoods and acquaintances a person could have because respect is a second language. For full transparency, we clearly identify our sources in a list at the bottom of each page. The Outer Banks' positioning on the east coast makes them more susceptible to direct hits or brushes from tropical storms that ride up the East Coast. Now to answer the big question: Is North Carolina a good place to live? Insurance is often more expensive in rural areas, and there are fewer providers to choose from. Regardless of your preference, know this: you cant go wrong but you better learn to defend it. Retrieved from, U.S. News & World Report. There are plenty of opportunities for retirees to pursue academic study at the many universities located around the State. Pros And Cons Of South Carolina - 890 Words | Bartleby Pros And Cons Of South Carolina. What Are The Pros And Cons Of Living In Myrtle Beach? The first option is to live inland as the worst effects of the hurricane can impact you in the mountains, while the other option is to buy an insurance plan that covers all aspects of hurricane damage. The low property taxes in the state are one of the reasons for the below-average housing costs. Retiring in South Carolina Pros and Cons South Carolina has no shortage of things to do to stay outdoors and active. The fact is that every place you consider moving to will have its benefits and pitfalls; you will have to decide the factors that are important to you and the ones youre willing to look past. The EBNC is The Eugenics Board of North Carolina. With that being said, the low cost of living may be less relevant, depending on how much money you have for your retirement. While many of these trials are for hikers, you can also easily come across some excellent trails where you can enjoy horse riding or mountain biking. For instance, Duke University Hospital is among the best in the country. While those certainly exist, there are also major cities that could make for a fun and active retirement lifestyle. The median home price in Myrtle Beach is $216,000, and rent also . This site also participates in other affiliate programs such as CJ, ClickBank and more, and is compensated for referring traffic and business to these companies. With a GDP per capita of $64,582, the Virginian economy is ranked 15th out of the country's 50 states.. Youre probably not surprised to learn that affordable housing plays the largest role in the low cost of living in North Carolina. Happiness in retirement is the main goal, and having the right information allows us (and you) to achieve that. in advertising from the University of Illinois, Alissa has worked all over the world as a freelance communications strategist and writer. Retrieved March 4, 2023, from https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. Although the good news is that Maine . Travel Challenges 4. There is no estate tax. However, although higher than the national average, the murder rate in North Carolina is much lower than in South Carolina.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-leader-3','ezslot_12',146,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-3-0'); The fact is that not everything is rainbows and butterflies in the Old North State. Chicago Unlike most other states, North Carolina taxes groceries. Access to Nature #2. Pros & Cons of Living in Asheville North Carolina. There are many advantages to retiring in North Carolina. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up for helpful guides, interesting topics, and tips from locals. Living in North Carolina during the winter months is easy compared to other places Ive lived, and its one of the things I most enjoy about daily life here. However, some of my friends have shared stories of woe, especially when searching for white collar jobs they could advance in. On the flip side, NC has a high-than-usual crime rate, increased chances of hurricanes, higher taxation, and a poor transportation system. The Southern states have seen massive growth recently, with the region becoming one of Read More, These Markets Are Projected to Have the Most Home Price Change in 2023. North Carolina is home to the Smoky Mountains and the Blue Ridge Mountains. Many of our outpatient clinics are located near Mission Hospital, right in the center of Asheville. North Carolina is home to a thriving arts and culture scene. In North Carolina, the public transportation network is limited in scope and under-served. The lack of proper public buses, trains, and other modes of transportation make it challenging to travel and explore different parts of the state. One of the downsides to living in Maine is the fact that the income tax and retirement income tax rate can be as high as 7.15%. You can learn more about our writers, here. But there are still notable drawbacks to retiring in North Carolina. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. Another pro of retiring in North Carolina is excellent health care. In fact. The mountainous regions in the state experience humid days in the summer and pretty cold temperatures in the winter. Much of determining where to retire may come down to researching where your money will spend the best. North Carolina's rich history influences much of the cultural scene. 20 Pros and Cons of Living in Raleigh, NC - Vittana.org According to the U.S. News and World Report, some of the best beaches and beach town options in North Carolina include Emerald Isle, Bald Head Island and Cape Hatteras. Best known for the Blue Ridge Parkway and the Appalachian Trail, the mountains of North Carolina also boast stunning waterfalls, one of the oldest rivers in North America, farm-fresh foods, and even some of Americas best craft beer.
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