It’s no secret that housing prices have skyrocketed in recent years. This has affected new homebuyers and retirees who were hoping to relocate. If you’re currently retired or will be soon, you might be tossing around ideas for where you want to live.
However, being on a fixed retirement budget means you’ll need to be more conscious about how much you’re spending, and unfortunately, some popular spots are becoming less affordable. Keep reading as we dive into three retirement towns that are . Wealthy people know the best money secrets.
. Arizona has always been a popular state for retirees. Sedona, located at a higher elevation, provides retirees nearly 300 days of sunshine each year but doesn’t have the extreme heat you’ll find in the Phoenix area.
“Sedona has a strong focus on wellness and spirituality, with many spas, wellness centers, and holistic health services,” says Martin Boonzaayer of . There are plenty of opportunities for hiking, biking, and outdoor photography, which appeal to active retirees. Unfortunately, Sedona is becoming increasingly unaffordable for many people.
The average home price in Arizona is just under ; however, to live in Sedona, it will cost nearly on average. “The demand for homes here has outpaced supply, pushing up property prices, especially for luxury homes,” added Boonzaayer. “The rise of short-term vacation rentals has reduced the availability of long-term housing, driving up rental prices.
Tourism increases the cost o.