The award-winning writer and geographer from Cal State Warren Bland, PhD said, average folks have a awesome opportunity. It’s which is "equity-take" in other words, the difference in cost of equal property amongst your present neighborhood and the more affordable one to which you could head. So, if you are willing to make that move, you can pocket a good chunk of money instead of delaying your retirement.
Think about someone moving from Buffalo, NY, where the average higher class houses can sell around $250,000. In Thomasville, Georgia, one of the most desirable retirement locations in the Atlantic Southeast, many attractive single-family residences in beautiful areas are selling for around $140,000. This means that you could net about $100,000 (assuming your mortgage is paid off) by relocating from snowy Buffalo to sunny southern Georgia, while increasing your yearly salary$5,000 by purchasing in, as a reference, tax-free municipal bonds at 5 % yearly interest.
Homeowners living in luxurious area places like New York, Los Angeles, the San Francisco Bay Area, Boston, Chicago and Toronto are in an even better position to use "equity take" to their privilege. The average price of upper middle class housing exceeds$1million in Manhattan, $700,000 in Los Angeles and the SF Bay locality, andabout $500,000 in Boston and Toronto. In contrast, home prices in many highly desirable cities and towns, suitable for retirement and located in all parts of the country, are more likely to be in the $150,000 to $300,000 range. Like moving from Manhattan to Boca Raton, Florida (one of Bland’s "top ten" retirement choices), could leave you with anequity-take of $500,000. Entrusting which blessing in tax-free municipal bonds at 5 % yearly interest, will increase your annual income by $25,000. According to Bland states, "You are able to buy a lot of wine, luxurious meals and entertainment with so much of cash"!