What To Know If You Move To Florida In Retirement

pros cons move to florida retirement

Retirement means different things to different people. Some retirees enjoy the freedom it brings and look forward to spending more time with family. Others see retirement as an opportunity to spend more time on their favorite hobbies.

Many people make changes when they reach retirement age. Some move to a nicer climate, and many choose Florida. A report from the US Census Bureau reveals that, in 2018, Florida welcomed the largest number of new residents.

If you are wondering if Florida is the right choice for you, it may be good to consider the pros and cons of moving to Florida. First, let’s consider the “pros” of retiring as a Floridian:

Pros Of Living In Florida For Retirement

1. Florida Is The Sunshine State

Florida’s southern location means Floridians will enjoy plenty of sunny days. Florida’s northernmost cities enjoy average daytime temperatures in the 60s, even during winter. More sunny days mean many opportunities to enjoy outdoor activities in an ideal climate.

2. Plenty Of Recreational Opportunities

Florida’s many parks and beaches offer its tourists and residents plenty of places to swim, fish, and golf. Florida offers you many hiking trails and exciting places to explore. The Florida coast is studded with beaches, providing plenty of places for a full array of water sports.

3. Enjoy Florida Entertainment

Many of Florida’s visitors come for its theme parks. However, you’ll find many other entertainment opportunities if you move to Florida. While Disney World, Sea World and Universal Studios offer activities based on cartoons and movies, Florida also provides ample chances to visit museums and galleries. You can also attend Florida’s many outdoor festivals and sports activities. In short: Floridians have plenty to do.

Here are some ‘cons’ of Florida living to consider:

Cons Of Living In Florida For Retirement

1. Houses Are In Short Supply

The average price of a Florida home is lower than the average home price for the rest of the USA. Unfortunately, like many other states, Florida has few homes currently available. Retirees who move to Florida may need help locating a home. Instead, many will move to an apartment or to a unit in one of Florida’s retirement communities.

2. Increased Insurance Costs

Florida has many hurricanes, so most home insurance policies will have high deductibles for hurricane damage. If you buy a home in Florida, you will also need flood insurance. Florida coastlines can mean lots of windy weather, so you should request a wind mitigation inspection with the standard inspection before buying a home. That inspection will reveal whether the home is prepared to withstand wind damage.

3. Sunshine Can Damage Your Skin

Sunshine is beautiful, but if you spend too much time in the FL sun, you are at risk for health problems. Excess sun exposure can cause painful sunburn, which can result in blistering. Ultraviolet rays can break down your skin’s inner structure and cause sagging and wrinkles. Too much sun from the Sunshine State can also result in skin cancer.

Decisions About Estate Planning In FL

Once you decide to move to Florida, you should also make decisions about estate planning. Fort Lauderdale’s Menéndez Law Firm estimates 20% of Florida’s residents are over age 65. If that is your age range, most financial advisers recommend you begin planning what will happen to your estate.

It is important to include three parts in an estate plan. In addition to your will, you should also designate a general power of attorney (for business decisions) and a healthcare power of attorney (for decisions regarding your health.) These documents will clarify your end-of-life decisions and ensure your choices will be honored.

Retirement is full of important decisions. Consider the pros and cons of moving to Florida, and visit some of its communities. Once you visit Florida, you can decide if Florida is the right move for you.