Weighing the benefits of retiring to a new location

Retirement brings a number of changes to a person's life, not the least of which concerns relocating to a new home. Retirees need to consider a number of factors when deciding where to move.

Several important statistics should be researched before retiring to a new location. That includes the crime rate, climate, and the cost of living in that area, reported Florida's Bradenton Herald.

Seniors should also look into the tax responsibilities of their new area. Some popular retirement locales, like Florida, don't have an income tax, but one should still research a potential home's sales, inheritance, estate, and retirement income taxes, said the paper. Factors such as health care, local transportation, work opportunities, and recreation should also be weighed before making a move.

The report also suggested that retirees visit their desired home several times during different seasons before committing to a move. Renting for a year before buying can minimize the risk of making a more costly permanent move and allows the retiree to adapt to the area.

Tuscon, Arizona seemed to hit the mark on most of these factors, according to several "Top Places to Retire" lists that were reviewed by CBS.

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