Moving Out Of Your Home Can Lower Your Retirement Expenses

[Junior3255]

Starting retirement generally means the kids are no longer at home and your income is lower.
So you don't need the big house any longer and you're looking to lower your living expenses to make your income go further. This means moving! But consider these options for moving on out...
-Buying down:
Obviously, you should buy a less expensive house. If you still have a mortgage on your current house, limit your new house choice so you have no - or very little - mortgage on it.

If you don't want the trouble of yard upkeep, get a condo but watch out for condo fees. They can rise fast. Hopefully your new utility fees will be smaller too.
-Moving to a city:
Living in a city with good public transportation can allow you to dispense with the costs of a car and insuring it too - a major expense. But you'll still have to pay transportation expenses in the form of subway, bus, or taxi fees. So get a good idea on just how much these will add up to.

-Moving to a state with no state income tax:
Though your federal income taxes are the same everywhere, state taxes vary. [ http://De.pons.com/