Not Your Grandparents Retirement
Plan
Time was, when people reached retirement age, they headed
straight for Florida, Arizona or a local retirement community that
catered to special interests like golf, social activities and day
trips. For some, these destinations still hold much allure. But
more and more, those now reaching retirement age are thinking way
outside the shuffleboard box when it comes to where – and
how – to spend their golden years.
In today’s global village, it is possible to live just about
anywhere you like. For retirees, that means the freedom to look
beyond traditional retirement spots. Now that the kids are grown
and on their own, its time to finally embark on your adventure of
a lifetime!
The Vicki Wong Team has been helping retirees find their dream
retirement destinations for years. Our group of talented and insightful
real estate professionals knows where to find just the lifestyle
you’re seeking. Whether your dreams lie in the southern United
States – or in the Southern Hemisphere – we can help
with information on home costs, quality of life, available amenities
and activities, and any other information you’ll need to make
the most of your golden years.
5 Important Considerations for Today’s Retirees
No matter where you want to live or what sort of lifestyle you
desire, there are 5 important considerations for you to give some
thought to, here are our top 5:
-
Cost vs. Value
Whether you’re looking at a new home in the U.S. or internationally,
you must weigh the cost of the home against the overall value
that you will get. These are your golden years remember…the
reward you’ve earned…and helping you get the most
“bang for your buck” is something the Vicki Wong
Team specializes in. Here are a few items to be aware of:
-
Taxes – with rising property values,
you’ll find rising property taxes. It is imperative to
your lifestyle and your wallet, that you fully understand the
tax implications of your new home. Interestingly enough, there
are some fabulous locations where you can buy a beautiful home
in an excellent environment and pay very little taxes…read
more about that in our “Tax Haven” section!
-
Property Value – they say that the best
investment is real estate, and for the most part they are very
right! However, just because a particular home seems to have
everything you’re looking for doesn’t mean that
you should pay whatever they ask. The Vicki Wong Team has experienced
agents the world over whose job it is to know true property
values and study local pricing trends. Let us be your guide.
Our contact information is at the bottom of this page.
-
Maintenance & Other Fees – if you’re
looking at condominiums or planned communities, factor in maintenance
fees. Having someone else responsible for taking care of things
is definitely a plus – but know what the fees are before
going in and be sure they are in your budget. Understand that
these fees are usually not static – they tend to rise
at given intervals.
- Renting vs. Buying – some retirees might
find it more beneficial to lease a new home, condo or apartment,
rather than buy. Perhaps you don’t want the responsibility
of owning a home which includes the costs of maintenance and repair.
Or maybe you don’t have the amount of money needed to actually
purchase a home in your dream locale. And if you’re undecided
just exactly how to spend these golden years why not give yourself
the option of trying out a couple of places without the hassles
of having to sell a home when you’re ready to move on. The
Vicki Wong Team can also find you property to lease!
-
Crime Rate – perhaps one of the most
important considerations when scouting for your new home. It’s
ugly, we don’t like to think about it, but it can mean
the difference between enjoying your new life and being trapped
in your new home – no matter how beautiful the setting.
Certain areas of the world – and within the U.S. –
do not have a handle on their crime situation. It is imperative
that you research the current crime statistics for any area
you are considering moving to. Two great web sites for researching
crime statistics are: The FBI’s “Be Crime Smart”
page - http://www.fbi.gov/becrimesmart.htm,
The U.S. Department of Justice - http://www.ojp.usdoj.gov/bjs/welcome.htm,
and the United Nations Crime & Justice Information Network
- http://www.uncjin.org/index.html
-
Climate & Locale
So you thought this part was a no-brainer, eh? Well as we alluded
to earlier, retirement these days often means more than palm
trees… The key to finding your perfect spot, is knowing
how you want to live.
Thinking exotic? Spectacular vistas, perfect weather for all
your favorite outdoor activities, unending discovery, fascinating
culture, peace and quiet off the beaten path, …how about
the South Pacific, Mexico or Central America? Increasingly,
exotic locations like this are ramping up development and many
people are now discovering that they can have much more for
much less in places like Vanuatu, the Cook Islands and Fiji
in the South Pacific; Cabo San Lucas in Mexico; and Costa Rica,
Panama and Honduras in Central America, to name just a few.
Many international destinations offer incentive to seniors,
such as discounts for entertainment, public transportation and
even for utilities! Plus, in most of these countries wages and
costs of living are quite low – that means you can hire
a housekeeper, landscaper, painter, technician or personal chef
for the same low wage – and they are happy to have the
work, so you’ll find an excellent level of service.
As a personal case study, let’s take a look at Vicki’s
own experiences in this regard. She purchased a vacation home
in the South Pacific islands of Vanuatu. Her home is a gated,
contemporary, 3 bedroom home set on 1.5 tropical acres. From
here, she enjoys dramatic cliff side views of the Pacific Ocean
and inspiring sunsets. The property includes a 2 bedroom caretaker’s
cottage, lush gardens and an infinity-edged pool. To get an
idea of the costs of living as they relate to quality of life,
here are some examples: Vicki employs a gardener/handyman and
a cook/housekeeper for US$200 each per month. Fruits and vegetables
are locally grown and picked fresh for sale at an open-air market.
Papaya costs US$1. For $2, Vicki can purchase 20 small onions
and for 30 cents, she can get a perfectly ripe avocado. All
other groceries can be purchased from a nearby supermarket that
rivals any of the major U.S. chains. Long stemmed, tropical
flower bouquets that would cost over US$100 in the United States
can be bought in Vanuatu for just $3! Plus, all the conveniences
of modern life are available in Vanuatu, including in-home internet
access! As you can see, there are advantages to internationally
living – and a high quality of life is available outside
the United States.
Prefer to stay closer to home? There is always Florida, Southern
California, Arizona, Nevada, and New Mexico which offer value
for retirees along with temperate year-round weather and innumerable
amenities. Even uncharacteristic places like suburban New York,
Boston, Philadelphia, Washington D.C., and Chicago are gaining
favor with retirees who want to be close to the action, but
not necessarily surrounded by it all the time. Smaller towns
outside of Atlanta, Seattle, Dallas and San Francisco also offer
perhaps surprisingly good value for retirees, while keeping
them close to conveniences.
The Vicki Wong Team has experienced real estate agents worldwide.
Contact us today to start discovering the world of perfect retirement
locales!
-
Activities – what do you want to do
with your retirement years? Golf, boating, fishing, hiking,
biking, bird-watching…or perhaps you love to shop, dine
and have access to the finest cultural and entertainment venues.
The Vicki Wong Team is here to tell you, that you can have it
all! It simply a matter of deciding how you want to spend your
time. If you’re not sure where the best place is to pursue
all of your favorite interests and hobbies, contact us now!
Our team has the specific area knowledge to find your dream
retirement spot.
-
Proximity to life’s necessities – being away from
it all is great, but some may feel more comfortable living close
to excellent medical facilities and major transportation hubs.
If travel is part of your plans for retirement, you’ll
want to be near an airport or have a hometown that is accessible
to state and nationwide thoroughfares. Plus many retirees choose
to continue working in some capacity through their golden years
and being near a metro area may be pivotal for finding employment.
Here are some useful web links to help you get started
on finding your dream retirement home:
Great Destinations
International
Living
Tax-Free Havens
Contact Us
Vicki's Newsletter
Daily
Consumer News and Advice
|
