Thoughts on retiring to NYC (beach, retirees, movies, friend)
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Well I would highly suggest you go there on an extended visit before making any arrangements.
A lot has changed about NYC in 30 years. Whatever memories you had..toss them.
Yep- my family has been here for about a century and I've heard *all* the stories. My grandpa used to commute to work on the subway for a nickel, meeting Frank Sinatra in the Brill Building, my mom recalls being in Manhattan for the blackout, crazy old sicilian ladies wearing black, buying eels from the fishmonger on Myrtle Avenue, I can remember actual Italian bakeries in my town on Long Island as a child... etc etc etc. All going way back. Until everywhere we lived we started getting burglarized and everyone started moving away. So yeah, now it is NOTHING here is like what it used to be.
There are no ethnic Irish, Italian or Jewish communities left anywhere, just Hasidic, African American, Dominic, Mexican etc. If that's your culture, then you'l fit in. If you're rich, then you'll fit in. If you're neither well..join the club but we've all left New York already.
I actually think the less mobile you are the more important being in a big city is. NYC is walkable as is a good majority of the large cities. The more attractive a city from an economic stand point the more expensive housing is going to be. On the other hand that expense does allow for lower expenses in things like transportation. If you live in a city you have a better chance for decent public transportation. Also there are services in the cities for elderly and disabled with chartered vans and buses. So many more services. It is something worth considering.
Understood, but there comes a point where it is much easier to drive to a store.
So I am enjoying everyone's replies and I hope that they keep on coming. I am aware that apartments are very expensive in NYC; that is why I said I would be amenable to downsizing even to a studio apartment. I do not need to live any place fancy, but safety and convenience to transportation would be important. I would not leap into this without spending time there first to see how the city is now and how I tolerate (or can't tolerate) the winter weather. I am also aware that such a move might be one thing during my early retirement years, but different as I grew older or if I developed health issues.
However, from the limited research I have done, it seems like the major expense in NYC is housing cost and that the rest of the costs of living are not necessarily that much greater there -- as long as 5-star dining is not my desire and as long as I avoid tourist areas and take advantage of senior discounts and other opportunities in the city. I am aware that my basic housing costs per month would be greater in NYC than they are where I live in FL because my SFH, while not paid off, does have a mortgage that is significantly less than the monthly rent on even a small apartment in NYC.
I wonder wherther people consider the incidental costs that add up when living in a place such as FL. FL has lower property taxes than NYC, but the homeowner's insurance and flood insurance is quite expensive. Between the two, I am spending approximately $5,000 annually and my home is fairly modest. House upkeep is another matter because lawncare is over $100/month and then, because I am not handy, every time something breaks in my aging home, I have to call a repair person to fix it. Plumbers, electricians, automatic garage door repair person, AC repair, etc. all add up -- not just in monetary cost, but in the stress of having to deal with the issue itself. This is not including the eventual roof repair/replacement, AC system replacement, appliance replacement, painting the exterior of the home, etc. The normal, but not insignificant, home expenses. In addition, when you factor in car payments of probably a couple of hundred a month and auto insurance of over $100 per month -- not to mention gas, maintenance, repairs, etc. It all begins to add up. In addition, if I became unable to unwilling to drive, I would be virtually housebound because the bus transportation where I live is pretty much useless. I have calculated that to get to a relatively nearby mall would take approximately 2 hours and two to three bus changes. This is one of the reasons why so many seniors are loathe to give up their car keys in FL.
These are the reasons that I believe that I will eventually sell my SFH regardless of where I live when retired and become a tenant as I do not want the hassles of home ownership. However, it is also why I am wondering whether people are considering these kinds of costs when calculating for their retirements?
I think retiring to a city is a fantastic idea. My husband and I are trading in our 4BR pool home in the Fort Lauderdale suburbs for a condo in Portland, Oregon. Why not expand your options to some western cities with more temperate climates? If I were going to move someplace with outrageously expensive real estate, it would be San Francisco!
How soon are you escaping? We plan to be out of here before next hurricane season!
I think retiring to a city is a fantastic idea. My husband and I are trading in our 4BR pool home in the Fort Lauderdale suburbs for a condo in Portland, Oregon. Why not expand your options to some western cities with more temperate climates? If I were going to move someplace with outrageously expensive real estate, it would be San Francisco!
How soon are you escaping? We plan to be out of here before next hurricane season!
It does my heart good to note you and others such as the OP of this thread writing about "escaping" Florida. If people live in Florida and like it (and there are plenty who obviously do), more power to them. But I have never quite understood putting up with the heat and humidity of the summer months there, not to mention other things such as the insects and the hurricanes.
And yes (before someone points it out), I realize you and I are probably in the minority since Florida has been such a wildly sought-after retirement location for many, many years.
I've often thought that my ideal would be 3 months a year in NYC. We live in a nice big city that we love (Toronto), but there's nothing like Manhattan. Living there, even half time is not an option for us (we're Canadian), and there's no way I'm dealing with snow and cold--as long as we are able, we're spending the winter in Florida. Would this be an option for you? As a Floridian, I predict that the winter is going to be tough for you.
I'm no expert, but you might also consider living outside of Manhattan. There are some nice communities in areas of Queens and Brooklyn, to name a few.
I am still several years away from retirement, but lately I have been playing with the idea of relocating to NYC from FL to retire. My thoughts are as follows: I am a single woman, native of FL and like the idea of mass transit that could get me all over the city and have access to transportation to other areas, such as Boston, etc. -- all without the need of driving a car. I also like the idea of no longer owning a SFH so when something breaks I can call the super/landlord instead of worrying about it myself. I don't have any close relatives in NYC though I do have a couple of cousins who live there and a couple of others who live in Connecticut. I Have an adult daughter who currently lives in FL but who knows what she will be doing in a few years. I realize that the winters are cold in NYC, but I have been thinking that since I would be retired I would have the option of staying inside on the coldest days.
I am not wealthy but I would have a reasonable pension in addition to SS to cover living expenses, etc. I would be willing to downsize to even a studio apartment since I do not need much space. In addition, I am thinking that the increased housing expense might be offset by the money I would be saving on car insurance, car payments, car insurance and even homeowners insurance.
I have not been to NYC for about 30 years so I realize that I would need to visit and give it a try before doing anything permanent and I also realize that I could live there for a couple of years and relocate again if I decided to do so.
I am wondering if anyone here as any thoughts that they would like to share with me concerning this idea. I searched but did not find any posts on this specific topic. Am I crazy for even considering this idea?
Living in NYC will certainly give you things to do, for example, how to get someone to fix your plumbing after your toilet's been clogged for a week. That's not a problem if you live at the high end but a major problem at the low end where you'll unfortunately be in that very expensive place. Do you ever watch movies or television shows set there. Don't most of the places look like either dumps or very expensive? Go for a trip. Be sure to go outside after dark in a quiet neighborhood; you won't stay out long. Except in Manhattan and a very few other areas you will need a car. And don't forget that New Yorkers are not known for friendliness.
How often do you attend opera, live theater, etc.?
You can stay in FL without a car and in a safe and pleasant environment. Check out The Villages. Cars aren't necessary; there are shuttle buses as well as roads for golf carts. There's plenty of shopping right there and I know someone wuld be happy to take you along to Walmart. It wouldn't be my kind of place, way too urban, way too humid, but you'd probably be very comfortable since you've spent your life in the South. You certainly wouldn't be worried about the bad element. They have inexpensive visits for four to seven days; you should definitely try one.
Living in NYC will certainly give you things to do, for example, how to get someone to fix your plumbing after your toilet's been clogged for a week. That's not a problem if you live at the high end but a major problem at the low end where you'll unfortunately be in that very expensive place. Do you ever watch movies or television shows set there. Don't most of the places look like either dumps or very expensive? Go for a trip. Be sure to go outside after dark in a quiet neighborhood; you won't stay out long. Except in Manhattan and a very few other areas you will need a car. And don't forget that New Yorkers are not known for friendliness.
How often do you attend opera, live theater, etc.?
You can stay in FL without a car and in a safe and pleasant environment. Check out The Villages. Cars aren't necessary; there are shuttle buses as well as roads for golf carts. There's plenty of shopping right there and I know someone wuld be happy to take you along to Walmart. It wouldn't be my kind of place, way too urban, way too humid, but you'd probably be very comfortable since you've spent your life in the South. You certainly wouldn't be worried about the bad element. They have inexpensive visits for four to seven days; you should definitely try one.
But I have never quite understood putting up with the heat and humidity of the summer months there
Some people do better in the heat and sun than they do in the gloom and snow
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