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Originally Posted by Ruger2506
Not here in FL. When property taxes and HOA fees and Bonds and Fire district reach over $9000/year. When we retire chances are we are headed to hills of Alabama or another low property tax state. Same house in the hills of Alabama would cost us $1500/year in property taxes.
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No HOA fee in the Villages. Amenity fee (similar but not the same) is about $2,400 per year. Annual tax bill (property, school, bond, fire) is about $5,000 though of course this depends on the size of the home and the bond.
Total can be less than $7,000 but can probably reach $9,000 in some areas.
Location, location, location. Same house in the hills of Alabama would be in Alabama. Same house without the HOA fee (amenity fee in our case) would not have the pools, pickleball courts, golf courses, or rec centers that we have here.
Is $1M enough to retire on? As others have written, it depends on what you want to spend. Another thread asked whether someone could live on SS alone - many answered that you could not. If SS is $2,500/month then for two people that would be $60K/year. At $60K/year, $1M would last about 16 years. I hope to live longer than that.