Thinking about San Antonio for retirement? You are definitely not alone. Data from the most recent U.S. Census show that San Antonio is the second most popular city in the US for retirees in terms of migration. The city is the perfect place for retirees - especially those looking to escape the harsh winters of the North. San Antonio boasts great weather all year round. The average low is only 44 degrees.
Need more convincing? Below you’ll find just a few of the many reasons why San Antonio is ideal for retirees:
San Antonio Has Great Vibes
Maybe it’s the 220 days of sunshine every year, or maybe it’s the cosmopolitan feel mixed with small-town culture. No matter the exact reasons, it is undeniable that quality of life in San Antonio is super high. The city offers an ever-evolving cultural scene, a rich history, a renown dining scene and a fun vibe. It’s also a great place to meet new people. In fact, surveys conducted by Travel + Leisure show that the city of San Antonio consistently ranks as one of the top five cities in the US when it comes to making friends.
San Antonio is Affordable for Retirees
Finances are typically a top concern for retirees, especially those who intend to live on a fixed retirement income. It’s never too early to set your retirement budget. You should review your retirement savings, check your eligibility for government health programs to help offset the cost of healthcare, and create a monthly budget that includes all the things you need and want to enjoy in these later years. This may sound daunting but, on the bright side, San Antonio is one of the more affordable cities you’d find anywhere for retirement.
According to Realtor.com, the median listing price for a home in San Antonio is around $230,000, which is by far the lowest of the four major metropolitan areas in Texas. Median prices in Austin, Dallas and Houston are listed at $410,000, $380,000 and $290,000, respectively. One thing to remember, however, is that the Lonestar State has some of the highest property taxes in the country. The average effective property tax rate in Texas is 1.86%. That means a typical homeowner in Texas will spend about $1,860 in annual property taxes for every $100,000 in home value. Homestead exemptions are available for all Texas homeowners to reduce their property taxes, with a superior exemption available to those over 65 years of age. Your real estate agent can help you determine your eligibility for this and other housing programs.
The other cost of living benefits can also play a major role in offsetting the burden of high property taxes. Overall, Texas is considered to be tax-friendly for retirees. The low tax income rates in the Lone Star State are great for seniors. First, there is no state income tax in Texas, which includes Social Security retirement benefits and all other types of retirement income. This translates to thousands of dollars a year in tax savings when compared with other states. You can keep more money in your pocket to spend on the things that make you happy.
San Antonio is Home to a Variety of Senior Living Options
San Antonio has a great real estate market, but you may ultimately decide buying a new home isn’t right for you. If you fall into this category, you’ll be happy to hear that San Antonio has a lot to offer when it comes to senior living options.
If you are healthy and active, but would rather not be responsible for maintaining a property fully on your own, you can explore an active adult living community. These retirement communities are ideal for seniors who want to be independent. These communities also offer an opportunity to meet new people and establish new routines, which is especially helpful for retirees relocating to the area from elsewhere. Some of the commonly-offered amenities in active adult living communities as happy hours, holiday celebrations and crafts classes. Arts and crafts classes, happy hours, and holiday celebrations are among the commonly-offered social perks offered in retirement communities.
If you aren’t quite confident in your ability to live a fully on your own, you may want to consider an assisted living facility. The good news is there are many top-rated communities in San Antonio and its surrounding suburbs for you to choose from. The cost of these facilities is inclusive of room, board and overall assistance with activities of daily living, such as bathing, general housekeeping and managing medications. This option can give you daily peace of mind. Your real estate agent can help you work through your financing options if needed.
The benefits of choosing San Antonio as your retirement destination are endless. If you’re ready to get started on your real estate journey, contact Jaime Marin with Keller Williams today. As a local expert committed to customer satisfaction, you can trust me to make sure your experience is as smooth and successful as possible. I am very passionate and honest about my job and I love the opportunity in helping others accomplish one of their biggest investments in life. Let’s get started!