Reply to Florida more expensive than Great Falls? I don't know how anyone plans to retire there

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[quote=Anonymous][quote=Anonymous]I'm seriously wondering how people are planning to retire in Florida these days. I currently live in the Langley High area in an 8000 square foot home, probably worth around $3 million. When I started looking at homes in Florida Fort Lauderdale, Miami, even Orlando  I was shocked to see prices often higher than what we have here in Great Falls, and for homes half the size.

Where are the savings? I always thought Florida was supposed to be more affordable, especially for retirement. But from what I’m seeing, that doesn’t seem to be true anymore.

I ran the numbers on a $1.5 million home in Fort Lauderdale, not even on the water, and even with the house fully paid off, the monthly carrying costs (insurance, property taxes, and HOA) came out to around $3,000 a month. That’s without a mortgage. Unless you’re renting part of it out, how does anyone afford that on a retirement income?

What happened to Florida being a retirement haven? Is anyone else seeing the same thing? I’m genuinely curious how people are making it work.[/quote]

If you have a $3 mill home, don’t you have a ton of money saved for retirement? How can you not afford this? [/quote]

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