Retiring in Cincinnati. Worth considering? (Kent, Evendale: transplants, sales, real estate)

[donjulio2018]

Hello all,

Here is my dilemma. My wife and I live in a town north of Boston, and recently retired. As you know MA is one of the states where COL is insane (taxes, property values and/or renting out of control). Then, there is the snow and cold weather which is getting to me as I get older. My wife is originally from Cincinnati and still has relatives there. We know COL in Ohio is definitely lower than MA (granted, property taxes in Cincy are also very high), but housing in general is much more affordable. We have no debt and we own our home free and clear. Both collecting SS and "healthy" IRAs. Our home, if we decide to sell it can easily go for $700K. I know weather-wise Cincy is not much better than Boston (yes, less snow, blah, blah, but still can get very cold). For years, I've tried to convince the wife to retire somewhere in the south because I personally like the warm weather and low property taxes. The answer has always been no, no!. Too hot, too humid, etc, etc. She would only "compromise" with going back to her roots in Cincinnati. So, what do you folks think? is it worth it? would you do it if you were in the same situation? Should we just stay put?. I welcome your opinion/input. Cheers!

[Misfit Toy]

I still have a ways to go until retirement, but I can't picture myself living here by then, partly because of weather. I don't necessarily want Florida type of warm, but I do want someplace like Tennessee or Georgia where winter doesn't have the same bite it does here. I also want to leave partly because I'm just kind of done with Ohio at this point. Been here for over 25 years, been there and done that, and just want someplace else.

I'm assuming you've spent some time with the Cincinnati relatives, so I guess it comes down to whether you can picture yourself living here, and whether you can picture yourself hanging out with these Cincinnati relatives.

[Graywhiskers]

Retire on the Kentucky side of the river, you will get lower taxes. You will be happy there. Scenic, hilly, nice riverfront, great zoo, milder winter weather than Boston.

[donjulio2018]

Originally Posted by Graywhiskers

Retire on the Kentucky side of the river, you will get lower taxes. You will be happy there. Scenic, hilly, nice riverfront, great zoo, milder winter weather than Boston.

Yes, we are also considering Fort Thomas on the KY side. Thank you for you input.

[poopycat]

If weather is a primary consideration, don’t come. If proximity to family matters most, then come.

I moved here last year from Texas and hate the colder weather here, but since you’re coming from Boston, it will be no big deal for you. Probably much less snow here too.

I wouldn’t retire here, but I don’t have family here and I need warmer weather. Every person is different. You could do worse than Cincinnati.

[Coseau]

A lot of retirees here snowbird to Florida during the winter. They usually leave in November and come back in April. Personally I like cold weather and snow but to each his own.

[marino760]

Originally Posted by Graywhiskers

Retire on the Kentucky side of the river, you will get lower taxes. You will be happy there. Scenic, hilly, nice riverfront, great zoo, milder winter weather than Boston.

That's what I did but a little further out than the Cincinnati metro. I bought a house on the KY side of the river with no regrets. I have lower taxes and overall lower cost of living, slower pace of life, friendly people. When I want to visit Cincinnati it's an easy 1 hour drive with no traffic.
I think it's the best of both worlds but of course not for everyone if you want to feel like you live in a large city.

[SalamanderSmile]

We moved back here from Boston metro west 6 years ago. Although we are not of retirement age. The tax burden (property, sales tax, work location income, home location income tax, local sales tax, county sales tax) here is MUCH higher than Boston. There are only a few locales that you would want to buy into that avoid the high property and local income taxes. A thing to investigate is the tax-able-ness of social security and retirement income in where ever you real estate shop. Some localities do not tax that type of income.

As an example, our $600k house in Waltham cost us $4000 a year in property taxes. Where I live now that valuation would come with a bill of $16,000 a year. Where you find the homes to be a bargain compared to Boston, is mostly places where you would not want to live.

The weather is very different with almost no winter to speak of, you can be out of doors 12 months out of the year. People here will say differently, but they think it’s cold when its 38 out. A downside is that while winter is not cold it is very very very gray. You can go weeks with no sunshine in winter which can affect ones mood. In Boston it may be 12 degrees and have 4’ of snow but it is almost always sunny in the winter. The summers can be brutally hot and humid here, but being on the western edge of the eastern time zone is AMAZING because you have more than an hour of extra daylight at the end of your day. The sun sets at 930-10pm in the summer. So much better than winter in Boston where you go to work AND come home from work in complete darkness.

The weather is much more conducive to gardening if you are into that.

We have all of the arts and culture you could ever want, even compared to Boston. The difference being that you can afford to attend and you can park easily when you get there. No planning around traffic and train schedules to go out on the town.

Cincinnati proper is a little ocean of blue in a VERY red state but the suburbs have been mercilessly gerrymandered to show up as voting republican.

There is much more crime and much more property crime here than in Boston. Wealthy suburban enclaves are not immune.

[ram2]

Originally Posted by SalamanderSmile

We moved back here from Boston metro west 6 years ago. Although we are not of retirement age. The tax burden (property, sales tax, work location income, home location income tax, local sales tax, county sales tax) here is MUCH higher than Boston. There are only a few locales that you would want to buy into that avoid the high property and local income taxes. A thing to investigate is the tax-able-ness of social security and retirement income in where ever you real estate shop. Some localities do not tax that type of income.

As an example, our $600k house in Waltham cost us $4000 a year in property taxes. Where I live now that valuation would come with a bill of $16,000 a year. Where you find the homes to be a bargain compared to Boston, is mostly places where you would not want to live.

Where exactly do you live in the Cincinnati area where home property taxes are $16,000 per year? I know it is not Anderson Township.

I used to work with many Boston/New York/Connecticut transplants at GE-Evendale. Almost all of them preferred the Cincinnati area due to the lower cost of living. I used to hear the term "Taxachusetts" often.

[wrightflyer]

I don't know about some Ohio municipalities, because there may be a few that approach $16K a year in property taxes, but the KY side will be cheaper both in real estate costs and property taxes. My condo valued at $100K is about $1,300 a year, but that is on the slightly lower side, even for KY.

The only difference on property that is higher in KY than OH is the ad valorum tax on vehicles once a year. The amount varies based on location (city and county) but usually is about $200-250 per $20-25K of vehicle value. However, vehicle registration fees tend to be $10-25 in KY versus Ohio where it can be easily close to $100 dependent on county and city.