Deciding to Retire in Sun City, AZ
If you have reached your 50s or 60s, you are undoubtedly looking forward to retirement. Your focus is likely shifting toward potential retirement destinations as you count down the days until you can officially depart the workforce.
At Prime Wealth Advisors we have dedicated ourselves to the retirement needs of residents in Sun City, Arizona, Scottsdale, Arizona, and beyond. We are often asked, "Is Sun City a nice place to retire?" We hope this article provides you with more information about Sun City.
Most retirees are interested in spending their golden years somewhere warm, dry, and sunny. Sun City, AZ fits these criteria, making it one of the country’s most desirable retirement destinations.
An Inside Look at Sun City
Take a look at the retirement literature pertaining to the best retirement locales and you will find a common theme emerges: Sun City and other world-class cities, such as Scottsdale, in the beautiful state of Arizona. A large part of the reason why Sun City is consistently rated as a top retirement destination is the fact that it was originally planned for those aged 55 and older.
Sun City is a relatively new community. This peaceful living space was founded less than half a century ago yet has quickly become the nation’s model retirement community. Sun City has proven so popular that it surpassed initial demand estimates after the first year of operation. The community initially had only a couple of thousand residents. Today, Sun City is home to more than 45,000 happy people, most of whom are retirees.
Live Life to the Fullest Around Fellow Retirees
The vast majority of those who live in Sun City are age 65 or older. The majority of the rest are between the ages of 55 and 65. A mere 4% of Sun City residents are below the poverty line, meaning this is a safe place to live in which you will be surrounded by fellow retirees looking to live the good life.
Living near those in your age range is important as seniors are likely to share the same interests, hobbies, and views. Only half of Sun City residents are married so singles are sure to find plenty of people looking to socialize with others. In fact, some Sun City residents have found the love of their life in their golden years.
The Perfect Weather for Retirement
The last thing a retiree should have to deal with is cold weather, snow, rain, and humidity. The golden years are a time to enjoy life to the fullest, spending time outdoors having fun in the sun. Retire in Sun City and you will enjoy endless golfing, tennis, hiking, and swimming opportunities. The sun is almost always shining.
The Sun City air is dry, preventing those dreaded aches and pains that are commonplace in humid settings. Though Sun City temperatures sometimes reach 100 or higher, this is a dry heat in which perspiration rolls right off your skin rather than sticking to your clothes as occurs in comparably humid environments. Even if you are not fond of the heat, enduring the couple summer months is well worth it considering that you will enjoy mild weather in the fall, spring, and winter.
Affordable Real Estate
Retirees are on a fixed income so it is important to watch every penny. Sun City homes typically cost less than $200,000, providing senior citizens with the financial freedom necessary to get the most out of their golden years. At the moment, the average cost of a Sun City home is slightly more than $170,000. However, prices are rising as Sun City has less crime than all but 17% of other cities in Arizona.
The vast majority of the city’s residents are around the same age, making it quite the attractive destination for seniors looking for like-minded people. In fact, Sun City mandates that at least one resident in each home be a minimum of 55 years of age to ensure this locale remains an active 55+ community.
A Closer Look at the Figures Behind Sun City’s Success
Can you imagine paying merely $300 to $1,300 in property taxes on a yearly basis? This might seem like a pipe dream to those who hail from the northeast yet it is a reality in Sun City. The city’s property tax rate is low because there is no local school district to support. Sun City households must have at least one member age 55 or older. No one in the house can be younger than the age of 19. As a result, there is no need for locals to pay anywhere near the national average for property tax.
A Peaceful and Affordable Community Without the Threat of Natural Disasters
Compare Sun City to Sarasota, San Diego, Reno, and other popular retirement destinations and you will find this Arizona locale has more than its fair share of merits. Sun City is not vulnerable to hurricanes, tornadoes, snowstorms, or earthquakes. Just as important is the fact that Sun City’s cost of living is quite affordable.
The average Sun City resident’s state tax bill tends to be comparably small. One’s sources of retirement income dictates the aggregate state tax bill. Arizona does not tax Social Security benefits. Though Arizona taxes other forms of income, these tax rates are quite low compared to other states. As an example, married filers with upward of $20,690 of taxable income pay a low tax rate of 2.59%. Married filers with taxable income greater than $310,317 pay 4.54%.
Make Sun City Your New Home
Visit Sun City on a retirement destination “scouting mission” and you are likely to agree this beautiful Arizona city is perfect for your golden years. Whether your primary interest is in socializing with fellow seniors, golfing, or simply enjoying the warm weather, you will be smitten by this beautiful desert town.
If you decide to bid on a Sun City home, be mindful of the state’s real estate seasons. Wait until the summer or fall and there will be less inventory yet sellers might be willing to negotiate. The best time to buy real estate in Sun City is toward the late spring when the snowbirds have left town.
And once you have decided to make Sun City your new home, we would like to offer you a complimentary financial consultation. At Prime Wealth Advisors we work with pre-retirees and retirees to create financial plans that can provide a secure and comfortable future. We can help with your investments, taxes, estate planning, risk management, and retirement plans. All under one roof. Contact us today and learn ways to protect your lifestyle in retirement.