Texas is the second largest state in the US. It boasts a booming economy that could probably stand on its own and the cost of living there is lower than most other states. With that said, it’s really no great surprise that Texas is often considered an ideal retirement destination.
While some may dream about retiring at a beachfront somewhere in California, Texas actually has so much to offer retirees. The state doesn’t impose income tax on residents, has generally warm weather throughout the year, and allows access to facilities and institutions that make life easier for any retiree. Texas may as well be your retirement haven when the time finally comes.
Aside from modern, sprawling metropolises, Texas’s vast land area welcomes the development of resorts, golf courses, and premier real estate, which is actually more affordable than the national average. Thinking of buying a house in California? Then you’ll probably have to spend around $440,000. In Texas, the average price of a single-family home is currently at an average of $177,000—which is still cheaper than the average American abode that’s worth $180,000.
Texas is also a cultural destination. With its massive size, the Lone Star State is home to different cultural groups. This cultural diversity is often considered as something unique about Texas when compared to the rest of the US. It is also by far one of the most historically significant states in the country, which traces its roots back to the Old West. Cities in Texas, such as Dallas, Austin, and San Antonio, are as lively as ever, but you’ll find that there is a charming allure in its small towns, which are also growing fast.
What about taxes on Social Security and pension? Texas imposes nothing of that sort. Retirement account withdrawals are also non-taxable. You do, however, need to worry about property and sales taxes, but considering all the other perks you get from retiring in Texas, they’re definitely worth the hassle and expense.
Texas also has numerous options when it comes to retirement housing. However, if you just want to live comfortably at some fancy residence in an alluring location, then the state makes it easy for you to do so, considering the cost of living and current real estate prices. Many rural and suburban communities even have different amenities that appeal to retirees, such as golf courses and hiking trails.
As the state continues to grow, you’ll definitely find that it has something for everyone. In fact, Texas may easily be one of the best states to spend your retirement years in.
Sandlin Homes builds in 15 communities throughout the DFW area from $190s to the $500s, as well as a comprehensive Build on Your Lot Program. For more information, feel free to contact us.