City vs. Suburbs: Where To Retire
When you envision yourself in retirement, do you picture yourself in a busy city or a more relaxed suburb? Before you make that decision, remember that cities and their surrounding suburbs vary widely from one another. And some smaller cities can feel like the suburbs while some sprawling suburbs can have a more urban vibe. Cities offer an almost limitless variety of activities, restaurants and places to explore. Suburbs also offer things to do, but the lifestyle is more low key. Each locale has its own upsides and downsides. Here are the pros and cons to weigh for city versus suburban retirement living:
- There is no shortage of entertainment and cultural attractions in a city. There is easy access to museums, concert halls, sports venues, shopping and theaters, and they are sometimes within walking distance. If you like the idea of trying new foods and cuisines, in cities, there are plenty of ethnic restaurants that can satisfy your appetite. There are some cities that have 55+ communities right within their city limits. These communities offer on-site access to golf, tennis or pickleball courts while still being within walking distance of museums, restaurants and theaters.
- Depending on the city, public transportation is available to take you where you need to go. You can hop on a combination of buses and trains that makes it easy to live car free. Many cities offer reduced-fare programs for senior citizens. Walking is another healthy option for getting around.
- With large populations, you are likely to find cities that are home to large nationally recognized hospitals. City hospitals tend to attract experienced specialists in their fields who are able to treat specific medical conditions. If you are a retiree with specific medical conditions, this may be a key factor in deciding where you think you will get the best care.
- Smaller residences like condos, co-ops, townhouses and apartments largely make up a city's real estate market. If you are ready to downsize and leave behind the ever-present responsibilities of maintaining a house, then you might consider city living.
- If you are considering working during retirement, you will find that cities offer more full-time and part-time job opportunities. Access to public transportation is an important feature of city living if you plan on working. You will no longer need to pay the expenses of owning a car, such as maintenance, gas and insurance, when you can rely on public transportation.
- You can expect that living in a city will be more expensive than living in the suburbs. The suburbs can provide homes with more square footage, often including a private outdoor area such as a patio or backyard.
Consider all the factors
Where to live in retirement is a personal decision based on your lifestyle preferences, your budget, and your desire to be close to family and friends. There is no one-size-fits-all answer. Contact us for help in sorting through the key factors in this important decision.