RELOCATING TO NORTH CAROLINA
By Nadine Wynn
It can be fun to think about where you want to relocate. Perhaps you want a warmer climate or maybe it’s retirement. Consider Charlotte, North Carolina as a prime spot which is strategically located two hours from the Blue Ridge mountains and three hours from the Atlantic Ocean. Here you will find a good mix of professional sports, wineries, equestrian activities as well as boating, fishing, whitewater rafting, and plenty of golf. Additionally, there are Broadway shows and concerts to be seen.
Whether it’s a relocation with family or wanting a slower-pace for retirement, consider Charlotte, North Carolina where the living is easy. Considering a move to North Carolina? Here, some important information you might find helpful:
Lower Real Estate Taxes At Lake Norman which is just north of Charlotte, taxes range from $.50 per $100 of tax value to $1.50 per $100 of tax value. For example, on a $500,000 home taxes can range from $2,500 per year to $7,500 per year depending on which county you choose on Lake Norman. HOA dues and golf club memberships tend to be substantially lower than the NY, NJ and Long Island areas.
Your Military Pension Military retirement pay may not be taxed at all if it meets specific requirements including if the veteran was “vested in the retirement system” for five years as of August 12, 1989. Otherwise, tax exemptions may be applicable up to $4,000 for single returns and $8,000 for joint returns.
State Income Tax North Carolina does have a state income tax rate of 5.25 percent but keep in mind overall real estate taxes are substantially lower as are HOA dues and your dollar goes farther to purchase real estate.
Better Home Values Your purchasing dollar goes much, much farther. In Lake Norman, you can purchase a luxury waterfront home with long range views, gourmet kitchen, in-ground pool, private boat dock and quick commute to Charlotte and the international airport for one million dollars or less. There is also something for everyone here on Lake Norman with prices for waterfront homes with private piers ranging from $425,000 to $8 million.
Retirement Resort Communities North Carolina and particularly the Lake Norman area does offer a variety of fabulous new resort-style retirement communities for people age 55 and over that even include boating. For example, the Trilogy at Lake Norman community located in Denver, NC is a highly popular retirement destination with home prices that vary from $287,000 to $490,000 that include a boat club membership where you check out a boat for the day just like a library book. Their amenities are top notch including a fabulous restaurant that is open to the public.
Strong Economy Charlotte, NC has been known as a strong banking and airline hub for many years but also offers a much-diversified employment opportunity with unemployment at 3.3 percent as of January 2019.
Ideal Location Lake Norman is ideally located just 25 minutes north of uptown Charlotte and the international airport. If you are looking for a weekend getaway at the ocean it’s only 3 hours away to Myrtle Beach and Charleston, SC is just 3.5 hours away. If you are looking for a quick escape to the mountains pack your bags and head to Blowing Rock (1.5 hours) or Ashville (2 hours).
Whether you are considering moving south for weather reasons or better values, North Carolina has it all and has something for everyone at all price points. Come check us out!
For more information on Nadine Wynn and Team Nadine—rated the #1 team for Keller Williams Realty—visit alakehome.com or call 704-806-6711.
