Retiring in a College Town
(FinancialHealth.net) – Thinking about where to live after retirement? If a beachfront condo or cottage in the woods isn’t your cup of tea, maybe it’s time to step out of the box a bit. For those who choose a college town, there are plenty of ways to keep busy while enjoying an active lifestyle.
Some of the best things about laying your roots down in a town known for its foundation in education are affordable housing, sporting events and activities, and the variety of restaurant choices. Let’s take a look at how they’re beneficial.
Affordable Housing Options
Something that sparks interest in many retirees when looking for a place to settle down is revisiting their alma mater, where they graduated from. A stroll down memory lane often reveals many improvements and changes that are appealing to older generations, including housing.
Homes may cost more the closer they are to colleges, but the benefit is the increased property value that may go up over time. While an initial investment may not seem super affordable, in the future it can appraise for more. This increases net worth and boosts the inheritance left to loved ones.
There are also many active retirement communities and assisted living communities in many larger college towns.
Prime Sporting Events
Another perk that comes with living in a college town is all the athletic events that take place. College football games and other sports are within a stone’s throw if you live in a nearby neighborhood.
Maybe you can even see some of these events for free if your yard backs up to a stadium. Besides sports, many facilities host other events such as art fairs, plays and concerts, making it a dream location for seniors who wish to remain active.
One thing most college towns are known for is their delicious eateries. Whether it’s an exclusive sub shop, trendy microbrewery or a fancy Italian restaurant, bars and food choices are abundant.
New businesses come to town to set up shop and offer delectable treats and fine meals that appeal to a broad base of customers. Make it a great night out by scoring tickets to a theater which may host local university talent.
In addition to scrumptious eats and making a house a home, there are other things in college towns that attract new residents from all over. A variety of hiking trails, horticulture centers, golf courses and outdoor shopping centers are common in college towns.
Getting out to shop, golf and hang out with friends can be a daily occasion for active retirees. Another perk is many college towns have university-based hospitals and access to top-notch health care.
Where Are These Hotspots?
Almost every state has some great colleges tucked in quiet little neighborhoods not far from a busy city. Some popular choices include:
- Ann Arbor, Michigan — Home of the University of Michigan Wolverines. Ann Arbor is a liberal arts town with a world-renowned deli and plenty of trendy downtown shops.
- Auburn, Alabama — This city’s host to a popular arboretum, museum and many historical landmarks.
- Stony Brook, New York — Here you’ll find a sleepy harbor college town that offers an abundance of quaint shopping, fishing clubs, jazz houses and sightseeing adventures for active seniors.
Find the perfect retirement locale by planning day trips to different locations to see if they are a good fit.
If you don’t want to sit in front of the TV all day or be cooped up in an apartment when you retire, take a look at a college town. There may be more there than you could have imagined.
~Here’s to Your Financial Health!
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