We visited my mother this weekend. My sister, who is in the Navy and stationed in California, was also there visiting. My sister plans to retire from the Navy in three years after twenty years of service. When she retires she will move to the small town where my mother lives. There are several advantages of retiring to a small town and I might do the same myself.
The biggest advantage is that real estate is cheap. My mom bought a brand new 3 bedroom, 2 bath house a few years ago for only $70,000. Houses are still cheap there and rent is very low as well. You also save money on transportation because everything is within a ten minute drive. If something you want to do isn’t within a ten minute drive you’ll be saving money by doing that activity less often. Car insurance is generally cheaper than in the city too. That is just a few of the ways you can save money by living in a small town.
The biggest drawback to living in a small town is that most local jobs don’t pay very well. If you’re retired then that isn’t a big deal. Another drawback is the lack of diversity and exposure to other cultures. I plan to travel often when I retire so I’ll get my culture and diversity during my travels.
Even with the financial advantages of living in a small town I probably wouldn’t live in one if I didn’t have family there. If I do end up retiring to a small town it will probably be more of a pit stop between hiking and travels than a permanent residence.