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Tampa, Florida : Consistently One of the Best Places for Retirees to Live In

Florida has been consistently ranked high by personal finance websites Bankrate and WalletHub, as one of the top 5 places in the U.S. where retirees can live off on their pension, whilst enjoying a less harried life filled with moments of simple leisure.

This year, the state of Florida received official recognition from the American Association of Retired Persons (AARP). The AARP recognition is a true reflection of how the government of Florida is implementing perceivable measures in making the state of Florida more livable for everyone regardless of race, color, religious affiliation and sexual orientation.

The first and foremost feature that makes a Florida an appealing location for retirees is that it is one of 37 seven states in the U.S. that do not impose taxes on Social Security benefits. Moreover, in being fully aware that retirees are looking to live a life of relaxation, the state’s tax exemptions include income on pensions, IRA or a 401(k), as well as inheritance or estate tax.

A recent study conducted by WalletHub, showed that the city of Tampa in particular, is the best place to live in, when seeking to spend one’s retirement years in Florida in fact, across all U.S. regions, Tampa has the largest share of senior citizens, to which its more than 300,000 population has about 19% of folks aged 65 years and older.

We can state 5 features as the city’s all time list of reasons why most senior adults find the “Tampa the Best Place for Retirees,”

Five Reasons Why Tampa is the Best Place for Retirees

 

The Tampa Climate

Everyone is well aware that advancing in one’s years bring not only experience and wisdom, but also age-related health problems that can be aggravated by freezing weather conditions. In Tampa, the coldest periods are experienced during the months of January and February. Yet the average temperatures during the day reaches a pleasantly warm temperature of 21°C.

Tampa’s Extensive and High Tech Health Care Facilities

The city of Tampa has a diverse array of medical facilities to offer retirees in addressing just about any health problems. Even more helpful is the continuing technological developments that transpire to keep the Floridian City’s health care landscape in order to keep up with its growing population. The are freestanding emergency rooms and urgent care clinics available throughout the city.

Tampa’s Transportation Landscape

Tampa’s public transportation landscape is a system of buses and streetcars. Those looking to visit or receive visits from family and friends, can easily find means of commuting to and from Tampa to nearly all destinations. The Tampa International Airport for one is a major air transport facility, while taking the AMTRAK service from the station at the Tampa Union Bay, can take commuters anytime to Miami up to New York.

Tampa’s Natural Landscape

One of the nice things about walking in Tampa is the city’s abundance of green spaces. , despite its urban nature. Green spaces, including the numerous charming parks and forms of wildlife are intertwined, which allows the city to retain its heartwarming qualities despite the dense population.

Moreover, this Florida area is not wanting in blue spaces, as Tampa’s beaches are one of the most visited for being the best not only in Florida but throughout the country. It is actually beach season all year round in Tampa, which is why the pristine white sand surrounding the clear azure waters of the Gulf of Mexico, hardly becomes crowded with revelers.

Tampa’s Excellent and Diverse Array of Recreational Facilities

Inasmuch as Tampa has a well-developed tourism industry, there is a huge and widely diverse variety of recreational and entertainment choices at prices that are more affordable compared to other Florida cities. Festivals, concerts, and sporting events take place all year round, while marinas offer restaurants, bars, and clubs that offer excellent recreational and dining options.

The cost of space: band-aid solutions cover-up the problem. They don’ heal it.

The cost of space has been increasing throughout the years—more and more are living in smaller living environments with higher prices. These living quarters, although bought with quite a huge price tag mostly follow only the minimum and not the optimum and sometimes don’t even conform with the codes set by their respective countries.

Typical living residences in the major urban areas of most countries are set to a smaller scale. They are typically studio type apartments with all the amenities stuffed into the minimum space requirement for a condominium room set by the codes of their respective countries – take note that these are the minimum livable requirements and not necessarily the most comfortable. But it doesn’t end there, numerous condominium building owners are thinking of ways to get the most of the land they have bought and thus some resolve to numerous tactics to reduce the money they spend on the rooms by somehow cheating the space, such as including the “AC balcony” to create a 22 sqm label on a 18 sqm unit, or subdividing the rooms into smaller units such a the cage houses in Hong Kong.

Space-saving furniture has been introduced to help elevate the comfort of living in these small environments –space-saving beds (best beds 2019), movable furniture, convertible sofas, and numerous hybrid furniture have been increasing in popularity. Although space-saving furniture do provide smart alternatives to make the most of the space you have, it is not the solution to the main problem of the rising prices in the real estate industry– they merely serve as ban-aid solutions.

The increasing prices have resulted to scaling down for others and the loss of homes for some families, the prevalence of squatters and small illegal housing homes paid with high prices have been increasing in highly dense urban cities. Hong Kong’s cage rooms is an example of extreme scaling down practices that compromise comfort in order to make amends with the increasing real estate prices – scaling down per-se is a good thing, and making use of the space effectively is also great, but scaling down to the point of compromising comfort because of something you can’t control like increasing prices is not a good manifestation to how the country is dealing with the main problem of the increasing prices of land itself—reforming the law is the solution, its time to take a step back and observe, for whose interest is the law actually created for? Is it for the people? Or the pockets of the one’s running the law?

Buying or Building a Home in Florida: Strike Now While Mortgage Interest Rates are Going Down

If you are planning to build or buy a home in Florida, now is the best time to do so. Online real estate leader Zillow reports that mortgage interest rates in Florida have gone down by several points. As of May 21, 2019, Florida mortgage interest rate dropped to 4.08%, 4 basis points lower than last week’s 4.12% average rate.

Although a temporary rise in mortgage rates transpired in December and January, rates have reverted to the previous low of slightly above 4%. As a result, spikes in retail estate sales occurred in February and March, 2019.

Chief Economist Dr. Brad O’Connor of the Florida Realtors remarked that the trend is likely to continue up to the second quarter, which is why it is high time for Florida folks to realize that

.. “this might be their last chance to upgrade, downsize or buy their first home while rates are near historical lows.”

However, those seeking to build a single-family housing are advised to apply caution in light of affordability concerns. Growing house demands can also spur costs of construction, which builders have to manage, in order to stay within the current prices of home-building contracts.

Still, Dr. O’Connor projects that as real estate inventory levels across varying price tiers continue to surge, price growth in 2019 will not be sharper than they were in recent years. Based on the 2019 first quarter performance, the trend in median time, or the length of time it takes to close a sales contract for single family homes is 51 days, while condominium or townhouse units take slightly longer at 53 days.

Slow Rather than Drastic Peak in Real Estate Prices is Expected

According to figures recently released by Florida Realtors, the real estate market in the Tampa Bay area is still running on an erratic course. Single-family homes still have the biggest market share, where Pinellas is the only county experiencing price growth. Prices of single-family homes in Pasco and Hillsborough dropped, while remaining flat in Hernando.

Florida Realtors report that selling of Tampa Bay properties is taking longer than it took last year. Moreover recent sellers are reportedly receiving less than their asking price compared to what they got in April 2018.

Skylar Olsen Online, Director of Economic Research at real estate giant Zillow, explains that currently, price corrections are taking place after years of home value growth occurring at a rate that is beyond the pace of income growth.