Retiring to a peaceful beach town is a dream for many retirees. Those looking to live life on the coast once they punch the clock for the last time may find that there is one place in particular where their dreams can come true.
That's because there's one beach town that has it all...affordability, a sense of community, and plenty of access to the great outdoors. Curious which town ranks high among retirees who want to feel the sand between their toes in their golden years? Keep reading to learn more.
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View this post on InstagramBeach lovers are falling in love with Rehoboth Beach in Delaware. That's because Investopedia says this beach town is more affordable than many other spots around the country, giving retirees on a budget a chance to buy a home in the region.
The town's cost of living is about the same as the country's average and just 1% higher than the rest of the state's. Plus, if you didn't already know, Delaware's favorable tax laws make the state a little easier on your budget, thanks to a lack of sales tax and taxes on Social Security payments.
Additionally, the state's property taxes are incredibly low, earning it the title of having the seventh lowest property taxes in the entire country. Investopedia says some of the town's other draws include:
A large retirement community, with 44 percent of the population aged 65 or olderEasy access to outdoor activities, including the beach, boardwalk, and walkable communitiesA large number of restaurants, arts and entertainment venues, concerts, bars, and moreMild winters and warm summersRelated: The Worst State to Retire In Was Also Named the Best Place to Achieve the American Dream, and We're Confused
Rehoboth Beach Isn't Without Its Downsides
While all of that may be enough to entice you to move, it's worth noting that there are some cons to moving to Rehoboth Beach, which you will want to consider if you're planning on making the jump after you retire.
First of all, housing prices are very high. According to Homes.com, prices in Rehoboth Beach can vary from as low as $35,000 for a single-wide trailer to several million for more lofty estates. And while it's likely that you can find a home that meets your budget needs, you may have to pay more to buy here than you would in other parts of the country.
Additionally, this is a tourist-heavy region, so summers and holidays are extremely busy here. While that may be a good thing for seniors who like the hustle and bustle of a lively town, those seeking year-round peace and tranquility could become annoyed by the influx of seasonal visitors.
Related: Popular Vacation Destination Full of Free Museums and Fun Events Named Best Place to Retire in U.S.—and No, It's Not Florida
That said, you can probably insulate yourself from this by purchasing a home in a neighborhood that isn't known for being popular with renters, but instead caters to year-round residents.
In the end, deciding where to live in retirement is a deeply personal choice, but Rehoboth seems to have a lot going for it, making it an ideal pick for seniors who want to retire near the ocean.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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