Florida, Retirement Journey

A Move to Florida?

coconut trees
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My husband and I have money meetings every Saturday morning to discuss our savings goals, plans for the year, etc.  Mostly we dream about the day my husband retires.  Today, instead of reflecting on the stock market losses, we started reflecting on our monthly expenses and how they would change if we moved to Florida.

We found this site that compares locations economically.  Here is how it came out.

Comparison Highlights:

– Overall, Northern Virginia is 48.0% more expensive than Sarasota, Florida
– Median Home Cost is the biggest factor in the cost of living difference.
– Median Home Cost is 108% more expensive in Northern Virginia.

Cost of Living Indexes Northern Virginia Florida Difference
Overall Index: Homeowner 152 102.7 48.0% less
Food & Groceries 114.1 106.5 7.1% less
Housing (Homeowner) 238.4 114.4 108.4% less
Income Taxes* (number reflective of what we will live on) $6,500 $0.00 $6,500 less
Home Price Average $515,000 $228,300 $286,700 (108.4% less)
Utilities 94.2 97.4 3.4% less
Transportation 127.6 90.0 40.4% less
Health 99.9 97.6 2.4% less
Sunny Days 199 257 58 more
Personal Property Tax 4.13 per $100 in value N/A 100% less
Miscellaneous – clothing, entertainment, etc. 114.2 101 13.1% less

100 = US Average. (Below 100 means cheaper than the US average. Above 100 means more expensive.)

Although Sarasota, FL is higher than the US average in most categories, it is lower than where we are living now.

Of course there are other factors that go into a move, but financially it appears that moving to Florida would  help our wallet. (The extra 58 days of sunshine doesn’t hurt either! 😉 )

And that’s a good thing.

 

 

 

 

 

 

4 thoughts on “A Move to Florida?”

  1. Hurricanes, sinkholes, and rising water levels would keep me from living in Florida. I guess you are not as a leery as I am…lol. You seem to have planned well.

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  2. I hear you on the cost of living where you live vs other places. We used to live out in that area also, but then my hubby was transferred to where we used to live in Cincinnati. The cost of living was so much less than Maryland, it was like he got a huge raise, when he really was making the same $$. There are a lot of good places to live in the country. Idk where your grandchildren live, but we moved 5 years ago to the town our kids live in, and we sure do love being so close to our granddaughter, and being a part of everyones’ lives.

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    1. Hi Chris,
      All of my grandchildren live right here. We love seeing them – which makes it more difficult to figure out what to do. They could move at any time, so I don’t want to base it on them. Also my son is across the country, and my other daughter hasn’t finished her PT program yet, but has talked about moving. We have four – five years to think about it. 😉

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