Retiring in Delaware
“Beaches, waterways and outdoor recreation have helped make Sussex County one of the most popular retirement destinations in the Northeast. It doesn’t hurt that the area is more affordable than surrounding states (Delaware has no sales tax) and that several major cities (Baltimore, Washington, and Philadelphia) are within a two-hour drive.” “Coastal Charms”, ~ The Wall Street Journal.
Aside from its pleasant summertime weather and quiet, friendly towns such as Bethany Beach, Rehoboth Beach and Lewes, the main advantage of retiring in Delaware is that the tax burden for retirees is among the country’s lowest by any measure. Social Security and railroad-retirement benefits are exempt from income tax, and taxpayers 60 and older can exclude up to $12,500 of investment and qualified pension income. Furthermore, most taxation statistics on Delaware take into account tax practices in the country at large, so one can imagine how much more favorably the Delaware Shore appears when compared with more expensive beach areas. The Delaware Shore may be one of the few places in the country where retirees can enjoy a great beach location and save on their taxes as well.
With all of the tax advantages of retiring to Delaware, it is no wonder that the AARP and Kiplinger have both repeatedly found the state to be one of the best destinations for retirees. It’s a friendly, year-round livable beach town that offers an attractive lifestyle for anyone, no matter what the age. With a median age of 57 and 38 percent of the population over 65, Rehoboth Beach, Lewes, Bethany Beach and the surrounding communities are a retiree’s haven. And, that trend shows no sign of slowing. Delaware expects its 65-plus population to increase 75 percent in the next 25 years.
The Rehoboth Beachteam includes REALTORS® who have earned the Senior Real Estate Specialist or SRES® designation. You can be sure that we have the necessary knowledge and expertise to counsel clients age 50+ through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Our SRES® REALTORS receive special training and are prepared to offer the information needed in making life changing decisions. We also recognize the emotional stress of selling a beloved family home and approach clients and family members with patience and empathy.