This Sunny City Is the Best Place to Retire in America

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Florida cities swept the top four spots — but only one could be the winner.
BY PATRICIA DOHERTY DECEMBER 23, 2020

If spending your retirement in a warm and sunny locale sounds good to you—and if you’re planning ahead for those days of leisure—you’ll be interested to know that a city in the Sunshine State was just named the best place to retire in America. In fact, in the recently released U.S. News and World Report’s 2020-2021 list of “Best Places to Retire in the U.S.,” Florida metro areas took 13 of the top 25 rankings.

Sarasota came in first place, followed by Fort Myers, Port St. Lucie, and Naples, sweeping the top four spots. Sarasota and Fort Myers dominated the list last year as well, just swapping first and second places in the latest survey. The wide appeal of Sarasota and Naples ranked them in the top 25 in “Best Places to Live in the U.S.” as well as Best Places to Retire.

Sarasota’s beaches, parks, cultural attractions, shops, and restaurants make it popular with visitors as well as residents. The area attracted circus impresario John Ringling in the early 1900’s, and in 1924 he began building an elegant seaside winter residence, Ca’ d’Zan, which he modeled after the Doges Palace in Venice. Today, the estate is a stunning museum, art collection, and circus exhibit that delights guests.

This year, both “Best Places” reports might be of particular interest. With the COVID-19 quarantine and, for many, working and schooling from home, we’ve all had more opportunity to think about our surroundings. Spending on home improvement projects, repairs, and renovations has increased significantly, according to several measures.

“After a prolonged period of staying at home, people are taking a critical look at where they live, and many are looking to find a place they can feel happier, afford more or pursue new opportunities,” according to Devon Thorsby, real estate editor at U.S.News. “The Best Places rankings can help people examine the details they consider important in a larger community as they seek a house with a bigger yard or a spot that makes it easier for the whole family to quarantine safely together.”

The methodology used in the study factors in health care quality, retiree taxes, desirability, job market ratings, and a happiness measure, based on a public survey of individuals of retirement age and those nearing retirement age. Florida’s affordable homes, low taxes, and high ratings for happiness and desirability placed the state at the top of the list. Sarasota’s increases in desirability and job market scores enabled the city to edge out Fort Myers for the first place spot for 2020-2021.After the four Florida cities, the rest of the top ten “Best Places to Retire” are Lancaster PA, Ocala FL, Ann Arbor MI, Asheville NC, Miami FL, and Melbourne FL. Check out the entire report here.

BRENT LEATHWOOD, MBA

LICENSED REAL ESTATE BROKER | BK 3300751

CROSS BORDER REALTY LLC | CQ1046895
2100 CONSTITUTION BLVD. #207
SARASOTA, FL, 34231
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3 Big Mistakes Buyers make:

  1. 1. NOT KNOWING THE NEIGHBORHOOD...ContinuedReal estate always has been and always will be a local business. Know your neighborhood is a cardinal rule in this business. A real estate professional knows what is going on in their local market area. Hire a knowledge, local professional. When we see folks wandering around with a notebook and a list of questions, we know they are the most likely to make a costly mistake. A PROFESSIONAL Realtor, (please note the word professional), can spend 15 minutes listening to your needs and wants, and probably rule out 90% of the local market options, and focus your attention, on the 3 or 4 or 5 communities that will meet your needs, and make sense from both a financial and lifestyle point of view. I am amazed at how many people from out of State, go it alone, end up buying in the wrong community, and come to regret it. I meet people like this everyday, and everyone single one of them will say to me: “I wish we had met you first.”
  2. 2. GETTING STUCK IN AN HOA NIGHTMARE...ContinuedHome owners association nightmares are the stuff of legend in our State. Do not buy the wrong property in the wrong community. A knowledgeable real estate professional can explain to you upfront, the ins and outs of the HOA regulations of the community you are considering, and help you avoid 99% of these potential pitfalls. This is another very costly mistake.
  3. 3. THINKING YOU DO NOT NEED A REALTOR WHEN BUYING A NEW HOME...ContinuedEverybody knows you need a Realtor to represent you, when buying a resale home. Many do not know, you also need a Realtor to represent you, when buying a new home. The new home sales person in the model home works for the Builder, not the Buyer. They are paid to look out for their employer’s interests, not yours. You will not save $1 by going it alone. You will lose money. A lot of money. One of our largest local builders reported 872 annual sales, of which, 762 were handled by Realtors representing the Buyer. That is 87% of the total. The Builder has already factored paying a finder’s fee into the price. The Builder will not rebate $1 of this money back to you. Builders laugh under their breath, when Buyers try this negotiating tactic, even though they will politely agree with you. Professional representation costs you $0, why would you fend for yourself, in a market you know almost nothing about? Buyers know less than 20% of what they actually need to know, to get a great deal. Having gone through the new home buying process hundreds of times with clients, we know all the pitfalls to avoid, and how to make the process go smoothly. Do not go it alone, get professional representation, it costs you $0. Not doing this is the most costly of the 3 mistakes. But everyone has heard the old saying, you can lead a horse to water. We are in the business of helping our customers solve a problem. Our ability to do that, is the sole reason we have a thriving business. We are here to help you through the entire process, and get a great deal.

4 Big Mistakes Investors make:
  1. INCOME... ContinuedThe rental income does not justify the $/sq. ft. purchase price.
  2. EXPENSES... Continued The monthly expenses are too high, relative to the property type and rental income produced.
  3. CAP RATE... Continued The capitalization rate is too low to justify the investment.
  4. HOA REGS... Continued The home owners association regulations are too restrictive, or do not permit the intended use. Frequently overlooked or glossed over by some sales people, the long run financial consequences are catastrophic if a mismatch occurs.
Avoid Costly $$$ Mistakes: Hire Brent. Costs you $0.