It’s a California Exodus! Let’s explore why Californians are retiring to Arizona!
Hey everyone, welcome back! I’m Lindsay, with the Wise Move AZ Team at RealtyONE Group. If you want to stay up to date on all things Anthem and Real Estate then you need to subscribe to our YouTube Channel! Pro Tip: You’re also going to want to hit that little bell icon so that you’re the first to know when our new videos are posted every single Thursday!
As your Anthem, Arizona REALTOR® I am seeing a TON of people looking to relocate from California to Arizona. Different groups of people have different reasons for leaving California, and today we are going to focus on retirees or people who are hoping to retire soon. I’ll explore other groups of the population in future blog posts!
Also, at the end of this blog post, I’ll give you exclusive access to our guide “Moving to Arizona? 10 Reasons to Choose Anthem!”. If you’re considering a move to Arizona, you definitely don’t want to overlook Anthem.
My team and I have worked with a number of retirees or people who are hoping to retire soon that live or lived in California and are now relocating to Arizona. Each individual has different reasons for making this move but we have definitely noticed some common reasons. In this video, I’ll give you the top 5 reasons Californians are retiring to Arizona:
#1: The Numbers Say You Have to Keep Working but you don’t want to!
Maybe you’ve met with a financial planner or maybe you’ve been crunching, crunching, and re-crunching the numbers yourself and it looks like you’ll have to work FOREVER! And you’re thinking, ‘if I have to commute in that California traffic for one more week, let alone 5 more years, I might explode!‘, then looking at your options in Arizona might be a great idea. Did you know that Californians on average spend 1 and a quarter days more per year commuting than people in Arizona. I can thinking of a lot of things I could do with an extra day every year…
#2: Housing Prices
According to Business Insider, in 2018 the median list price for a home in California was $544,000 which was $320 per square foot. In Arizona the median list price was $285,000, which worked out to $154 per square foot. That’s a difference of $259,000 in the median list price. So, depending on how much equity you have built up in your home in California, there is a chance that you could sell your house there, buy here, and retire on the balance! Yes, I’m serious, we’ve seen it done! Additionally, for many people in California downsizing may cost more than staying put if you’re staying in California. That’s crazy! Come to Arizona.
This is a huge factor for people living in California! The new $10,000 cap on deductions for taxes paid has definitely incentivized folks to consider a move to sunny Arizona. The Greater Phoenix Area is located in Maricopa County. In Maricopa County the property tax rate is 0.802% of the Home’s Assessed Value, while the average in California is 1.25% of the Home’s Assessed Value. Couple that with the fact that California’s state taxes and income tax rates are some of the highest in the country, and that home prices are significantly higher, it’s no wonder retirees are considering a move. To put it simply, many retirees can avoid the stress this new $10,000 cap imposes all together by relocating to Arizona.
#4: Over Crowding
We hear time and time again that California is feeling too crowded. The population density in California is more than 4 times that in Arizona! So, it’s no wonder you’re feeling a little crowded over there! If you’re looking to retire, consider Arizona, we have plenty of space to relax, spread out, and enjoy. In fact we might just have more cacti than people.
#5: My Kids Moved and Took My Grandkids with Them
This is one we hear A LOT! Retirees aren’t the only ones relocating to Arizona, in fact we are seeing more and more young families move here so that they can actually get ahead. If your kids have moved to Arizona and taken your perfect little grand babies with them, it’s definitely time to consider a move. We can help you find a place that just close enough… but not too close!
So there you have it if you’re a Californian who is retired or looking to retire but are feeling overwhelmed, know that you are not alone. A move to Arizona might be just the thing you need to turn your hard earned nest egg into the retirement of your dreams.
Come visit us, we would love to help you explore your options.
As promised, if you would like your free copy of our guide ‘Moving to Arizona? 10 Reasons to Choose Anthem!’, simply click here!
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See YOU, next Thursday!