Wednesday, September 7, 2011

10 Places to Buy a Retirement Home for Under $100,000

Selling your home and moving to a place where housing costs considerably less can be a quick way to give your nest egg a significant boost. Here are 10 places where the median home-sale price was less than $100,000 in 2010.

Alpena, Mich.


This small city of just over 10,000 people overlooks Lake Huron’s Thunder Bay. Residents can fill their days with boating, fishing, or even diving to the shipwrecks in the National Marine Sanctuary and Underwater Preserve. The city’s median home-sale price was just $58,600 in 2010.

Augusta, Ga.


Georgia’s second-largest city is located along the Savannah River and has a median home-sale price of $91,000. The city is known for its golf courses and hosts the Masters Tournament annually at the Augusta National Golf Club.

Columbus, Ohio

Courtesy Rod Berry
Ohio’s state capital has an affordable median home-sale price of $98,000, especially for a city with a population of more than 700,000. The home of Ohio State University also has a variety of museums and annual festivals.

Memphis

COURTESY OF THE MEMPHIS CONVENTION & VISITORS BUREAU
Spending your retirement years indulging in barbecue and great music won’t bust your retirement budget. For a median home-sale price of $71,000, you can enjoy nearby tours at Graceland and relaxing strolls by the Mississippi River.

Milwaukee


This city has a federally financed homebuyer-assistance program that provides funding to help prospective homeowners purchase and rehabilitate foreclosed homes that they will occupy as their primary residence. In 2010, Milwaukee’s median home-sale price was $97,700.

Mobile, Ala.

TAD DENSON - MYSHOTZ.COM/MOBILE BAY CONVENTION & VISITORS BUREAU
For a median home price of $95,000, Mobile residents enjoy access to the Mobile River, Mobile Bay, and nearby Gulf of Mexico. Residents can also spend their retirement days on one of 21 local golf courses, fishing, or sampling the local seafood.

Pittsburgh


In 2010, Pittsburgh homes sold for a median price of $97,900. The city’s largest employer is the University of Pittsburgh Medical Center, which provides a variety of services to residents, including geriatric medicine, retirement, and long-term care facilities.

Port Charlotte, Fla.

Charlotte Harbor & the Gulf Islands Visitor's Bureau
The housing bust hit Port Charlotte hard, which may lead to good deals for newcomers. The city’s median home-sale price in 2010 was just $59,950. Many homes in this Gulf Coast town are located along canals and waterways.

Springfield, Mo.


Residents are accustomed to the diverse and unpredictable weather, but they enjoy access to Missouri State University, beautiful views of the Ozarks, and 102 parks with more than 100 miles of trails. In 2010, the median home price was $92,503.

Syracuse, N.Y.

Courtesy of Wainwright Photography/Syracuse CVB
Although it’s known for extremely snowy winters, the city is experienced at dealing with snow and has warm summers. The bargain median home-sale price of $79,900 might leave you some extra cash to hire someone to shovel your driveway.

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