Great LGBT Retirement Locations

Are you ready to retire? Many people decide to move when they reach retirement age. Some need a change of environment for health reasons. Others may have always wanted to live in a certain city or state, but haven’t been able to move due to employment. Now that they’re retired, there may be very little holding them back.

If you’re a member of the LGBT community, you may want to retire to a place that’s much more welcoming and open. You may be ready to live somewhere with other like-minded people who won’t give you any trouble about being in a same-sex relationship. If you’ve entered your retirement years and are ready for a change, here are some of the best LGBT retirement locations separated out by the size of the city.

Large Cities

Great LGBT Retirement LocationsIf you love the big city life and have lived among a large population for most of your life, you may want to retire to one of these larger areas. They all have populations of at least 250,000. Living in a large city means you’ll have access to good public transportation networks, large hospitals, and more, all things that seniors may need.

Large cities to check out:

  • Atlanta, Georgia
  • Tampa, Florida
  • Phoenix, Arizona

Mid-Sized Cities

If you’re looking for some place that’s a little smaller but still good sized, you might want to consider a mid-sized city. These locations have at most 200,000 people. They still offer many of the great amenities that large cities have, but there’s not quite as much of a crush of people. You’ll find that these locations have average or low costs of living, something many retirees look for due to the fact that they are on a fixed budget. Here are some of the best mid-sized cities for LGBT retirees:

  • Fort Lauderdale, Florida
  • Orlando, Florida
  • Petersburg, Florida
  • Enterprise, Nevada
  • Paradise, Nevada

Small Cities

Don’t like the city? There are a number of small towns and cities out there with no more than 100,000 people. Some of these small cities may be surprising, but they have much larger percentages of same-sex households than the mid-sized and large cities.

  • Wilton Manors, Florida.
  • Rehoboth Beach, Delaware
  • Oakland Park, Florida
  • Miami Shores, Florida
  • Avondale Estates, Georgia
  • Decatur, Georgia
  • North Druid Hills, Georgia

Of course, these cities aren’t the only great places for LGBT retirees. If you’re interested in moving to a welcoming retirement center, a gay or lesbian real estate agent may be able to help you.

Should LGBT Couples Rent or Buy a Home?

If you’re in a same-sex relationship, but aren’t married, you probably assume that you should rent a house or apartment together. Many couples, regardless of their sexual orientation, do this because they don’t want to be tied to a mortgage together if they decide to split up. While same-sex marriage is legal now, some couples either don’t want to get married or are not ready to take that step. However, because interest rates on mortgages hit record lows in 2016 and are still quite reasonable, many people see it as a very good time to purchase a home. Should you do it, or should you continue to play it safe by renting?

The Advantages to Buying

Should LGBT Couples Rent or Buy a HomeBuying a home does mean that you can take advantage of a number of different tax breaks. You can deduct the amount you pay every year in interest to your mortgage from your income taxes. If you’re not married, though, you and your partner will have to file separately. This means you can’t claim the deduction together. You can split the deduction, or one of you can claim it all. It really depends on what your income is and where the deduction will do the most good.

If one of you makes a good amount more than the other, it makes sense for that person to claim all of the deduction. It helps if that person’s name is first on the mortgage, but it’s not a requirement. If you plan on splitting the deduction, it can help if you’ve both paid the mortgage through two separate payments.

Establish Joint Tenancy

If you are buying a home, you will need to establish that you have a joint tenancy with right of survivorship. This way, if one of you dies, the other person automatically becomes the sole owner of the property. If you aren’t both on the title and have it specified that you are living in the home as joint tenants, one partner may end up with nothing if the person whose name is on the title dies. A gay or lesbian real estate agent can provide you with additional information on how to establish joint tenancy.

The Downsides

Purchasing a house isn’t as easy as renting a home, of course. You do have to qualify for a mortgage, deal with property taxes, and handle all of the repairs yourself. However, you’re also building up equity in your property and have control over everything. That’s why many see homeownership, even if they’re not married, as a reward worth working towards.