"We went from spending 10 months in New York and two months in Florida during our first year of retirement, to nine months and three months respectively, then eight and four, and now we have almost reversed that original year, spending most of our time in our Daytona Beach condo." -Daytona Beach condo buyer and customer of Kevin Kling
We don’t handle any rentals, but at this time of year, we get a great number of inquires from snowbirds looking for a beach escape. Those fortunate enough to own a vacation home or condo in the Daytona Beach area are also in town during this time as they trade their snow-shoes for flip-flops. For both retired renters and those who own a second home in our area, the expenses can really begin to add up with travel and the carrying costs of homeownership up north. So when is the right time to sell that snow-bound home and make the World’s Most Famous Beach your full-time residence?
According to a recent survey, 64% of retirees say they are likely to move at least once during retirement. In many cases, having two homes is less about using retirement savings productively than it is about indulging oneself, or eliminating the need to pack while having a place to enjoy and share with friends and family. While many retirees would like to remain close to friends or family in their primary home state, selling that cold-weather home will free up more income for for other activities such as travel, boating, and golfing. Plus, you'll have a fantastic location for those friends and family to visit. Tax implications also come into play when you consider the homestead-exemption and the lack of state income tax here in Florida. Whether or not you decide to sell your cold-weather home, we want to help you enjoy the warm sunshine of the winter months here in the Daytona Beach area. Call us at (386) 527-8577 and let us know how we can help.
*Survey by Merrill Lynch & Age Wave