Scenario No. 1
On June 25, 2013, NPR aired a story titled “Idaho Leads Nation in Number of Low-wage Workers.” The program interviewed a retired couple who had moved to Idaho, and it pointed out that the state was experiencing an influx of retirees from neighboring West Coast states, in part because of the lower cost of real estate and other living expenses. Unfortunately for the couple interviewed, the low-wage jobs that keep their cost of living affordable do not provide sustainable career opportunities for families or older, more tenured professionals. Idaho’s economy is — at the moment — not diverse enough to provide ample high-paying jobs. For the couple interviewed, the job situation means that their family members and semi-retired friends cannot move there to keep them company.
Scenario No. 2
Several days later, there was a chance encounter with a gentleman from Pittsburgh. He was embarking on a second career in the in-home elder care business, because, as he put it, all the adult children have left the area in search of better jobs, leaving many seniors without a lot of care. Of course, there’s nothing wrong with in-home care services. These are excellent options to have, even for folks who need a little extra help, despite having family living in the area. What stood out in the conversation with this gentleman was the lack of jobs, and by extension, the lack of opportunity for seniors to have family close by.
The Case for Retirement Real Estate in Charleston
We’ve talked at length about all the direct benefits of Charleston for retirees: easy access to transportation, recreational and entertainment opportunities galore, good health care and more. The two incidences detailed above served to point out another advantage of pursuing retirement real estate in Charleston. The city’s diverse job market (Boeing, the port, Silicone Harbor, etc.) makes it feasible for family and friends to relocate here as well. And even if your friends and family can’t realistically move to Charleston, you’re bound to see them pretty frequently for vacations, weddings, or other events. Not many can resist the draw of the city once an acquaintance moves here. And who knows, a grand might even decide to attend one of the colleges in the area!
If you are retiring to Charleston and have real estate questions, or if a friend or loved one is considering joining you in Charleston, please know that Bob Brennaman is one of the area’s foremost resources in retirement property, second-home buying and primary residence transactions. He is readily available by cell (843-345-6074) or through the Web.