Here are 10 pros and cons of living in North Carolina to consider before making this state your home. First off, accommodation is the biggest expense that any states residents have to incur. When evaluating the cost of senior living first think through your current expenses because so much of senior living is all-inclusive. Published in Forbes, Senior Finance Advisor, Alzheimers.net and on other leading senior care blogs, she leverages her working knowledge of the senior care industry with leading research and best practices to create engaging content benefitting seniors and their caregivers. One of the largest is Brunswick Forest, which is located outside of Wilmington. Fuel costs are also cheaper than the rest of the country, sometimes by as much as $0.50 per gallon. Cities such as Raleigh and Charlotte have a public transportation system, but they lack the convenience that other cities, such as Chicago or New York, offer. The famous Blue Ridge Parkway runs for 469 miles through the Appalachian Mountains. The answer really depends on what youre looking for in retirement since each state offers different benefits. RetireGuide.com. 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. Retiring in Asheville, NC: Reasons, Best Places & More! Travel Challenges 4. However, some of my friends have shared stories of woe, especially when searching for white collar jobs they could advance in. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up for helpful guides, interesting topics, and tips from locals. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. The cost of living in North Carolina is relatively low compared to other US states. The state is home to some of the best hospitals in the country, including Duke University Hospital and Wake Forest Baptist Medical Center. If youre considering retiring in North Carolina but still require some convincing, Ive lined up more than a few reasons to help you make a decision.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-banner-1','ezslot_8',112,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-banner-1-0'); If youve spent most of your life living and working in a metropolitan city, the best thing about retirement is the opportunity to pack up your life and move to a quiet place with majestic views. The job market in Raleigh is thriving right now. Residents have over 200 state parks to explore, including Mount Rogers National Recreation Area and Great Smoky Mountains National Park. Winston-Salem. Between the breathtaking Appalachian and Blue Ridge Mountains, youll be spoiled of choice. 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. Your email address will not be published. 2023 Best & Worst States for Retirement | Retirement Living Charlotte. Happiness in retirement is the main goal, and having the right information allows us (and you) to achieve that. In any case, having daily access to mouthwatering BBQ is one of my favorite things about living in North Carolina. One of the benefits of retiring in North Carolina is that the state offers tax breaks for seniors. The company also offers access to third-party pre . Copyright © 2023 The Honest Local | This post may contain affiliate links - read our Standards, Corrections, & Privacy Policy. So, if you plan on starting a business during your retirement years, youll be paying around only 2.5% corporate tax. Moreover, there are also smaller university hospitals in the state that are nationally ranked. Home to a combination of 21 professional and minor league teams, North Carolina has a football team, minor league baseball teams, basketball, and hockey teams. Retrieved from, Loughead, K. (2020, February 3). If youre moving to North Carolina with the hopes of escaping the grind and bustle of daily living, youll find reprieve. Unlike most other states, North Carolina taxes groceries. The board was formed to repeal a 1929 law that had been put in place to provide sterilization for persons that were feeble minded and mentally . This includes looking into hospitals, clinics, and doctors in the area. 10 Reasons to Retire in North Carolina - Leisure Care With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. It came in as the 20th most-taxed state. 25 Pros And Cons Of Living In Greenville SC (Updated 2023) - Home Mindset But there are still notable drawbacks to retiring in North Carolina. Residents can claim a $3,000 deduction if they are under 65 or $15,000 if they are over 65, making it exceptionally welcoming for senior citizens who are receiving income from sources other than social security. The sales tax is around 6.98%, with municipalities having special leverage. Hickory. If youre more interested in a small-town retirement, the U.S. News & World Report also pointed to Hickory as an option, which is opposite from Charlotte. Although the good news is that Maine . As you think about it, the state does have a lot to love for retirement.The state's picturesque landscape,. One option that stands out is Hendersonville. North Carolina's property tax rates are relatively low in comparison to those of other states. While the people whove been living here for a long are prepared for these types of disasters, those who are unprepared can often be severely injured or embrace mortality due to touching downed wires or getting swept up in flood. The affordable housing prices couples with reasonable property taxes and youll understand why buying a home in North Carolina is a desirable endeavor. Javascript must be enabled for the correct page display. However, as required by the new California Consumer Privacy Act (CCPA), you may record your preference to view or remove your personal information by completing the form below. As one of the original 13 colonies, you'll find important historical sites in American history, from Revolutionary-era buildings to Civil War battle sites. He covers Medicare and important retirement topics. Better with age, exceptional with us! amongst states with the highest per capita tax. The state is home to a handful of great cities, but most of the Tar Heel State is rural. 15 HONEST Pros & Cons of Living in Asheville, North Carolina Contents1 Is it cheaper to live in SC [] Top 10 places to retire in NC. You can learn more about our writers, here. Cons of Retiring in North Carolina Threat of hurricanes. In addition to the stunning scenery, the state has many parks and trails for retirees to enjoy. The Appalachian Mountains have a strong folk art and music tradition. The truth is that North Carolina is one of the most beautiful and fairly reasonable states in the United States. Much of determining where to retire may come down to researching where your money will spend the best. What Are The Pros And Cons Of Living In Myrtle Beach? Pros and Cons of Living in North Carolina | Expat Exchange Last modified February 20, 2023. https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. 20 Pros and Cons of Living in Raleigh, NC - Vittana.org 10 Reasons to Retire in North Carolina - Corbinton Living (n.d.). No matter your preference, you're sure to find it in North Carolina. All Rights Reserved. Posted by Preston Guyton on Friday, September 30, 2022 at 10:07 AM By Preston Guyton / September 30, 2022 Comment When you think "retirement destination," North Carolina may not be top of mind. One big perk for retirees is that North Carolina will not tax your Social Security, which can give you thousands of extra dollars each year. As for my favorite BBQ joint? Retiring in North Carolina Is North Carolina a good place to live? Lamia Chowdhury is a financial content editor for RetireGuide and has over three years of marketing experience in the finance industry. Something went wrong while submitting the form. We appreciate your feedback. Living in North Carolina, cost of living in North Carolina, pros and cons of living in North Carolina, moving to North Carolina, living in North Carolina, cost of living in North Carolina, north Carolina living, Living in North Carolina, cost of living in North Carolina, pros and cons of living in North Carolina, moving to North Carolina, living in North Carolina, cost of living in North Carolina, north Carolina living, Your email address will not be published. You will need to invest in a car to get the most out of living in North Carolina. Consider how much of your income is spent monthly on food, utilities, healthcare, house maintenance, and homeownership costs. But the rate in North Carolina is modest, coming in at 5.25%. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-box-4','ezslot_5',111,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-box-4-0'); When moving to a new state, especially with the purpose of living out your retirement years, there are more than a few things to consider. Why do retirees move to North Carolina? - 2023 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. Where do most retirees live in North Carolina? Get instant access to our latest in-depth guides covering important retirement topics. So, if you move to North Carolina, youll be saving quite a bit on your monthly cost.